BitCoin News

BitCoin News

California Bill Would Legally Recognize Blockchain Data

A California lawmaker has introduced a bill that, if passed, would update the state’s electronic records laws to account for blockchain signatures and smart contracts. Assembly Bill 2658, submitted by Assemblymember Ian Calderon last week, expands the definition of electronic records and signatures – contained in the Uniform Electronic Transactions Act – to include records and signatures on the blockchain, notably stipulating: “A record that is secured through blockchain technology is an electronic record.” The existing law “specifies that a…

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Banks Buy Stakes in Blockchain Startup SETL

Financial services group Citi has bought a stake in blockchain startup SETL. The move, announced today, comes less than three weeks after the French banking institution Credit Agricole also became a minority shareholder. Other investors in the startup include Computershare, Deloitte, and banking company S2iEM. SETL noted that Computershare had boosted its stake in the blockchain startup, and that Stuart Irving, Computershare’s group CEO, is joining its board of directors. In statements, the startup suggested that, combined, it was “adding significantly to the…

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PC Giant Lenovo Seeks Blockchain Validation Patent

A new Lenovo patent filing suggests that the Chinese technology giant could look to using blockchain as part of system for verifying the validity of physical documents. In an application released by the U.S. Patent and Trademark Office (USPTO) last Thursday, Lenovo describes a set-up that utilizes digital signatures encoded in physical documents, which can be processed by computers and other machines, to verify the legitimacy of a document. The application was first submitted in August 2016, public records show. The processing…

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Swiss Finance Regulator to Treat Some ICO Tokens As Securities

Switzerland’s finance regulator has published new guidelines that indicate it will treat some tokens sold during initial coin offerings as securities. In a press release published today, the Financial Market Supervisory Authority (FINMA) said there has been a sharp rise in the number of ICOs launching in Switzerland, resulting spike in inquiries about the regulations that apply to them. With the situation currently “partly unclear,” the new guidelines have been released to clarify the status of projects wishing to launch a token sale project…

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Spanish Government Eyes Tax Benefits for Crypto Companies

Spain’s ruling political party is reportedly drafting legislation that it hopes will help woo cryptocurrency and blockchain companies to the country. According to Bloomberg, the People’s Party of Spain is eyeing the move as part of a package that would be focused on firms working with new technologies like 3-D printers. Yet according to lawmaker Teodoro Garcia Egea, who spoke to the news service, the bill could ultimately include provisions that aim to attract companies that are looking to sell tokens…

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Arizona Is Close To Taking Bitcoin for Paying Taxes

The Arizona Senate has approved a bill which seeks to let citizens in the state to pay for their taxes using bitcoin as well as other cryptocurrencies. As announced earlier by CoinDesk, just last month a team of lawmakers handed in a bill which, if approved, will allow people to utilize bitcoin or any other cryptocurrencies so as to pay for “tax and any interest and penalties” into the state’s Department of Revenue. The Department, in return, will have twenty…

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Taiwan’s Taipei Verifies Its Testing IOTA Technology for ID

Taiwan’s capital,Taipei City, is working together with the IOTA Foundation to take Tangle – IOTA’s solution to blockchain – to its resident identification programs. Department of Information Technology commissioner Wei-bin Lee verified that Taipei is going to be joining up with IOTA along with local startup BiiLabs for its Digital Citizen Card project, informing CoinDesk that the particular work was one of several proof-of-concept projects the city had. Taipei will particularly be utilizing IOTA’s Tangle ID service for a number…

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China Payments Provider Joining Ripple Blockchain Network

China payment company LianLian International is becoming a member of RippleNet, the payment system which utilizes Ripple’s blockchain technology in order to aid cross-border trades. Reported last February 7, the news will find the Hong Kong-based LianLian International taking on Ripple’s xCurrent solution to help bring in same-day, cross-border trades into a blockchain for its current clients. The system is different from Ripple’s xRapid formula, of which, not like xCurrent, utilizes the firm’s custom made cryptocurrency XRP. In a statement,…

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CFTC Chief Said: ThereWill Be No DLT Without Bitcoin

“It’s important to remember that if there were no bitcoin, there would be no distributed ledger technology.” This was the reply coming from Commodity Futures Trading Commission chairman J. Christopher Giancarlo when questioned by Arkansas Senator Tom Cotton regarding the importance of the technology beneath cryptocurrencies such as bitcoin. According to Giancarlo, he referred to them as always connected, hitting a favorable tone on the “enormous prospects” of the technology in the number of applications. The remarks came up in…

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Singapore Largest Airlines to Release A Blockchain-Based Loyalty Wallet

Singapore’s biggest air carrier operator is embracing blockchain technology in order to improve investing of its loyalty program miles. According to a report last February 5, Singapore Airlines (SIA) stated it will release a digital wallet to its frequent-flyer KrisFlyer plan in 6 months which will be operated by a private blockchain. Based on the airline, the blockchain-based wallet would allow members of the plan to pay for their air miles from store partners for point-of-sale transactions. The firm mentioned…

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