The Food and Drug Administration of the Chinese Chongqing Yuzhong District is set to implement the blockchain technology in a project aimed to strengthen the food and drug quality assurance supervision and anti-counterfeiting measures.

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2019 is the year of building cryptocurrency infrastructure. While the longest winter in the history of the cryptocurrency market continues breaking the record of 2011, the crypto community is striving in many ways to resemble Wall Street. The U.S. stock market, which is the largest in the world, has become the standard in the development of new cryptocurrency asset storage systems. But to what extent does the market need crypto custody services?

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Opponents of cryptocurrencies often claim that crypto coins are massively being used in money laundering, drug trafficking, weapons sales, financial crimes, and terrorist financing. The media regularly publish articles about new hacker attacks on crypto exchanges or money laundering through Bitcoins. We figured out what is behind such infamy and what the scale of the problem really is.

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📨 #DeCenterDaily

🌐 According to a recent investor update, the Telegram Open Network (TON) is now 90% complete, with the test network scheduled to launch next month.
via The Block

🤝 Cryptocurrency brokerage startup Voyager is going public in Canada through structuring the deal with an inactive mineral exploration company as a reverse merger.
via CoinDesk

👥 A recent survey of Amazon customers found that 12.7 percent of respondents would feel comfortable purchasing cryptocurrencies under the company’s brand.
via Investing.com

🇰🇷 South Korea’s central bank stated in its latest report that the issuance of a central bank digital currency (CBDC) would lead to a decrease in liquidity and growth in interest rates.
via Bitcoin.com

💸 CENTRE Consortium released a report claiming that USD Coin (USDC) is the second-largest stablecoin, with over 5.5 billion tokens transferred on-chain as of the end of the previous month.
via Cointelegraph

The ICObench rating service has released its quarterly report covering the state of initial coin offerings. The analysis shows that in Q4 of 2018, the number of concluded campaigns exceeded that of the previous quarter, while the amount of raised funds dropped by 25%.

Attached is the full report.

The U.S. District Court of the Southern District of New York has ruled that the Winklevoss brothers, founders of a cryptocurrency exchange Gemini, must pay back $45,000 in legal fees incurred by entrepreneur Charlie Shrem.

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This week’s #CryptoCaselawMinute takes a look at the cases that involve the topics of money transmission, arbitration, and misrepresentation.

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South Korea’s major cryptocurrency exchange Bithumb has officially launched an over-the-counter (OTC) trading desk under the Ortus brand.

“… there is no real solution for an aggregated liquidity provider or a trusted interdealer where Institutions can trade these assets. To fill this market gap, Ortus will operate to allow institutions to buy and sell digital assets through a network of global liquidity providers and benefit from a competitive and best price execution service,” said company’s director.

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Credit Suisse, one of the world’s largest investment banks, has completed a blockchain trial for fund transactions.

“With the successful completion of real, live transactions, we were able to prove that considerable benefits can be achieved with distributed ledger technology,” said Pascal Nageli, chief digital officer at Credit Suisse Asset Management.

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📨 #DeCenterDaily

🔍 Canada’s largest securities regulator has started looking into the infamous Canadian cryptocurrency exchange, QuadrigaCX.
via Reuters

🗓 The launch date of the Intercontinental Exchange’s long-awaited Bakkt platform remains unclear.
via Cointelegraph

🇧🇷 A Brazil-based cryptocurrency exchange Mercado Bitcoin has won a case over the closure of its bank account.
via Bitcoin.com

🇲🇺 An African state of Mauritius will introduce licensing of digital asset custodians in an attempt to become the region’s fintech hub.
via CoinDesk

💧 IBM has started piloting the blockchain technology for monitoring groundwater usage in the U.S. state of California.
via Forbes

Addressing the students of the University of Missouri School of Law, Hester Peirce—one of five commissioners on the U.S. Securities and Exchange Commission (SEC)—expressed her views on the relationships that entrepreneurship and innovation have with regulation.

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A California-based asset manager Reality Shares has filed a prospectus to list an exchange-traded fund that would include Bitcoin futures and sovereign debt instruments tied to national currencies.

Initially, the company intends to invest in futures contracts trading on Cboe and CME, but at some point, it may expand to other marketplaces as well.

The fund has limited the amount of money it would potentially put in digital assets to 15% as it believes the SEC may still not be willing to greenlight a full-blown crypto ETF.

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Security firm ESET has discovered a malicious application that impersonated MetaMask, a browser extension for accessing Ethereum-powered decentralized applications, on Google Play Store.

The malware was designed to steal users’ credentials and private keys and also replace a Bitcoin or Ether recipient address with that of the attacker.

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Starting from March 1, the law SF0125 on “Digital Assets” enters into force in the U.S. state of Wyoming, which has delighted many supporters of cryptocurrencies. As early as the beginning of December 2018, DeCenter found out that a group of experts was gathering in Wyoming to take part in drafting the cryptocurrency law. On December 4, DeCenter sent a letter to the organizers, expressing support for their undertaking. Four days later, a response was received from Steven Lupien, executive director of the Wyoming state working group on changing the rules for the treatment of special types of assets, in which he expressed gratitude for the solidarity.

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Before implementing the Confidential Transactions technology, Litecoin developers will release the Litecoin Improvement Proposal (LIP)—akin to those existing in Bitcoin and Ethereum communities—to gather public opinion.

Source: https://goo.gl/BVrLLx

📨 #DeCenterDaily

💵 Despite the returning of funds, investors who used Bitcoin and Ether—and not the U.S. dollar—to buy into the failed stablecoin project Basis at the pre-sale report significant losses due to the cryptocurrency market slump.
via The Block

📉 Median transaction fees on the Bitcoin network have dropped to the 2014 levels.
via Cointelegraph

🤝 General Motors Financial has partnered with a blockchain startup Spring Labs aiming to combat identity fraud.
via Forbes

🗓 Square CEO Jack Dorsey has said “it’s not an ‘if,’ it’s more of a ‘when’” regarding the company’s possible integration with the Lighting network.
via CoinDesk

🇵🇭 Major Philippines bank Union Bank has announced the launch of the country’s first two-way cryptocurrency ATM.
via ccn

Blockchain surveillance firm Chainalysis raised a whopping $30 million in Series B funding. The company seeks to invest new capital in its product development and a new research and development facility in the U.K.

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Morgan Creek Digital has secured $40 million in funding from two large pension funds that have more than $5 billion in assets under management. A newly established venture capital fund will invest in the blockchain industry.

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Ripple, Barclays, the Mastercard Foundation, and MIT Media Lab have backed a $1.7 million round for SendFriend, a remittance firm that will use the XRP cryptocurrency as a bridge currency for settling payments.

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At the end of January, the head of the global interbank SWIFT network Gottfried Leibbrandt announced the launch of a joint project with the R3 blockchain banking consortium. As part of the partnership, a new payment standard will be launched, which will use the Corda blockchain for payments. How does the new initiative differ from previous attempts by SWIFT to integrate DLT solutions into its infrastructure, and why could this be a new milestone in the development of the crypto industry?

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Facebook, the world’s largest social network, has acquired the Chainspace blockchain project, which was founded by researchers from University College London. The secret deal, according to Cheddar, took place at the end of January, and it was initially unclear whether social media only hired the developers or bought the startup. Mark Zuckerberg’s company is not the only social media platform embracing the blockchain tech. Why did Facebook become interested in blockchain development, and why was there demand for decentralized social networks?

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