Inshorts

The European Commission wants to strengthen technical expertise and regulatory capacity. Therefore it establishes the EU Observatory. The project will include an observatory and a forum to gather input on distributed ledger technology and blockchain technology. The goal is to establish an EU expertise resource for forward-looking blockchain topics and develop EU use cases. Another goal is to assist the European Commission in determining what role government authorities can play to encourage the creation of such technologies and to develop policy recommendations.

Bitcoin price continues to grow. See more in KCN Exchange rates

Chinese crypto entities gathered to support SegWit for Litecoin via a vote. Members included Litecoin creator Charlie Lee, pro-big block miner Bitmain, and exchanges Huobi and OKCoin. Through a voting process, the participating members unanimously agreed to implement Segregated Witness softfork on Litecoin. After that, when the usage of Litecoin block capacity is over 50%, the developers will start to prepare for a solution to increase the 1MB block size limit through a hardfork or softfork.

India might officially recognize Bitcoin as money before summer. It will also impose a tax on the digital currency as the answer to its recognition. The Inter-Disciplinary Committee within India’s Ministry of Finance reports is looking into activities related to digital currencies such as Bitcoin and will make its recommendations known between May 15 and 20. Afterwards, the government would be left to decide on what to come next.

Trading platform Whaleclub has added Dash as one of its base currencies. Privacy-focussed cryptocurrency, which experienced a rapid price growth earlier this year, may now become a tool for trading traditional commodities. Chief Product Officer at Whaleclub Ian Glindro commented on this deal: “We were impressed with Dash’s payment network growth, innovation and DAO structure. We expect strong demand as the Dash ecosystem continues to grow globally and investors look for a capable and ambitious Bitcoin alternative.”

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New Hampshire’s Senate may pass a bill on digital currency transactions deregulation. The bill HB 436 passed the House of Representatives in the beginning of March. It recently passed out of the Senate Commerce Committee and is expected to be voted on by the full Senate on the 20th of April. If passed, the bill would protect consumers when using digital currencies such as bitcoin instead of making them register with transmitter regulators. It would also mean that companies in the state of New Hampshire would be able to operate without following strict know-your-customer and anti money laundering regulations.

The International Monetary Fund held its first high-level advisory meeting on Fintech. The focus was on discussing how new technologies can disrupt the nature and provision of financial services and the implications that these changes may have for financial stability and regulation. Jeremy Allaire of Circle, Carolyn Wilkins, Deputy Governor of the Bank of Canada, Tao Zhang, former Deputy Governor of the People’s Bank of China (PBOC), Jill Carlson from Chain and other senior-level executives attended the meeting. The participants came to the conclusion that fintech will increase inclusion and therefore improve financial stability, but at the same time add new challenges as money can flow freely across the globe.

NAVCoin intends to begin activating Segregated Witness. Developers of cryptocurrency have officially confirmed their intention to signal for the SegWit protocol as of May 1st. The corresponding option will appear in 4.0.2 version of altcoin wallet. This decision led to a sharp increase in the price of the cryptocurrency. NAVCoin ranks sixty-fourth in the Coinmarketcap digital assets rating. According to the developers, NAVCoin is the first truly anonymous cryptocurrency.

Malta’s government to adopt the national blockchain strategy. Addressing a conference organised by the financial affairs parliamentary committee, Maltese Prime Minister Joseph Muscat said that Malta will become one of the first countries in the world to embrace blockchain and that the strategy will soon be put up for public consultation. Notably, Muscat added: “This is not just about Bitcoin, and I also look forward to seeing blockchain technology implemented in the Lands Registry and the national health registries”.

Disclaimer. These videos are brought to you by CoinIdol.com in partnership with Koles Coin News Channel. This information is provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company.