The legal status of cryptocurrency has been and still is very contentious worldwide, with some countries recognizing them as a medium of payment, while in others, mere ownership of crypto is enough to get you to prison. Will the increasing global attention to CBDCs change anything?
A number of Bitcoin and cryptocurrency holders in Israel have come out to request local banks unveil policies about digital currency accounts. They are seeking for legal action against traditional banking institutions for their snub to open accounts for clients wanting to deposit cash from digital asset sales. The bitcoin holders are now trying to demand the Bank of Israel and other local financial institutions to make their policies about cryptoasset.
Italy is considering starting smart parametric policies with automatic reimbursement based on blockchain, smart contract and distributed technology (DLT). The policies will cover the risks related to bad weather, delayed flights and lost luggage. Catholic University and Reply are developing a solution for the issuance of smart blockchain-based insurance policies.
The Research Center on Technologies, Innovation and Financial Services (CeTIF) - Catholic University and Reply, together with a group of giant financial banking institutions including Banca Mediolanum, Popolare di Sondrio and Ubi, as well as the popular Italian insurance companies such as Mediolanum Assicurazioni, Cargeas Assicurazioni, Nobis Filo Diretto and Reale Mutua, have finally decided to work together on a solution for the issuance of smart insurance policies based on blockchain and smart contract technologies.
The 2019 European election is finally over and the elected representatives of the Five Star Movement (M5S), a political party in Italy founded in October 2009, will occupy the 14 seats available, however, the results show a drop in preferences for minister Luigi Di Maio, a popular cryptocurrency and blockchain enthusiast. Barred from the cutting-edge policies and stunned by hullabaloo after falling back on a position at the Ministry of Education, Dino Giarrusso becomes the most voted candidate in the M5S. The names of the candidates with vision for the North West, North East, Center, South and Islands districts in Italy are also being picked out.
The giant IT and social media company Facebook is improving its ads policies related to blockchain technology and cryptocurrency. The company recently announced that it wants to relax its imposed ban on blockchain, Bitcoin and other monetary goods and services adverts. However, the initial coin offerings (ICOs) ban will go on.