by BlockEx

1. The November monthly update is ready. Get more in-depth insight into the recent happenings at BlockEx https://blockex.com/news/november-monthly-update

2. Last Wednesday, we were at the Finance Magnates London Summit. In case you missed it, here is a recording of the panel discussion featuring Aleks, our CLO https://www.youtube.com/watch?v=NrW9PA0uYNk

3. Don’t forget that the Evident Proof general token sale is ending this month! Head over to our website to find out more if you want to purchase https://www.blockexmarkets.com/ico/EPT

by BlockEx

1. Hong Kong One Step Closer To Crypto Regulation

Two weeks ago, we reported on the Hong Kong Securities and Futures Commission (SFC) announcing it would look into potential crypto regulations to apply on the region. The regulator has now released a statement outlining a regulatory framework titled “guidance on regulatory standards”. Chief Executive Ashley Alder affirmed that the final goal is to establish a regulated environment where firms can do business with crypto. He went on to say that given how young this industry is, rules are not clear yet and this may lead to the proliferation…

by BlockEx

1. MPs Warned That Bad Crypto Regulation Is Worse Than No Regulation At All

MPs want for the Financial Conduct Authority (FCA) to clamp down on illicit activities taking place in the crypto industry, starting from Bitcoin. However, experts have affirmed that approaching regulations in the wrong way could lead to serious damage to the British crypto market, as other types of assets could be negatively affected as well. The warning was presented under the form of a report co-authored by “the BBFA, law firm Baker Botts, venture capital fund Novum Insights and cryptocurrency exchange TodaQ”. British Business…

by BlockEx

1. Bank of Canada Trials Blockchain Stocks Settling

Bank of Canada (BoC), the country’s central bank, has trialled a blockchain-backed stocks clearance and settlement system. The test, called Project Jasper, was conducted in collaboration with stock exchange operator TMX Group Ltd. and Canada’s payments system. Securities were cleared and settled on an integrated platform. BoC’s Senior Special Director of Financial Technology Scott Hendry affirmed that distributed ledger technology (DLT) can help cutting costs and increase opportunities. However, he also mentioned that before being able to determine how to most efficiently improve the financial system with this technology, more…

by BlockEx

1. Fidelity Has Facilitated Crypto Investment for Institutional Investors

Fidelity Investments has announced the launch of the company Fidelity Digital Asset Services. It will now be easier for institutional investors to invest in cryptocurrency. The fact that the financial services corporation handles over $7.2 trillion in client assets and has 27 million customers, is proof of how significant this news is for crypto. Fidelity’s company will offer custodian services for cryptocurrencies as well as crypto trading on various exchanges on behalf of investors, including hedge funds and family offices. Chairman and CEO Abigail Johnson explained that the company…

by BlockEx

1. Integrating Blockchain Is Harder Than Anticipated, say Executives

Management consulting company Greenwich Associates has produced a report documenting executives’ experience with blockchain. According to the document, 57% of the people interviewed stated that integrating distributed ledger technology (DLT), blockchain included, in their operations has been harder than anticipated. The results are based on a pool of 200 executives working with blockchain. They work at “banks, technology vendors, dedicated blockchain companies, exchanges, and consultancy firms, among others”. Examples of challenges faced by managers are scalability concerns, hardware security, as well as privacy and payments concerning transactions. An interesting…

by BlockEx

1. PBoC Is Recruiting For Its Central Bank Cryptocurrency

The People’s Bank of China (PBoC) wants to recruit experts in blockchain, as well as the law surrounding it, to help with the development of the yuan-based central bank digital currency (CBDC). It’s been revealed that they are currently on the search for four engineers with knowledge of “system architecture, chip design, blockchain development and application, cryptography and security protocol design”. Their tasks will include the development of a fiat-backed digital currency programme, a cryptography and security model, and, a chip processor for “end-point digital currency transactions”. PBoC also…

by BlockEx

1. Singapore To Help Crypto Firms Setting Up Corporate Bank Accounts

We covered on many occasions the interest shown by Singapore towards the crypto phenomenon. It has now been reported that the Monetary Authority of Singapore (MAS) is going to help cryptocurrency businesses setting up corporate accounts. It must be mentioned that this does not mean that the banking regulations in place currently will be loosened. Managing Director Ravi Menon specified that the city-state wants to attract crypto firms, but not at the expense of their regulatory framework. What the financial regulator will do instead is helping banks…