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South Carolina Issues Cease-And-Desist Order to Blockchain Startup for Statutes Violation

A South Carolina securities regulator has issued a cease-and-desist order to a blockchain startup for violation of the state’s securities statutes. On May 21, blockchain startup ShipChain was issued a cease-and-desist order from the South Carolina Attorney General's Office for violating the state’s securities statutes. According the official notice, the company continuously offered investment opportunities to residents of South Carolina on its platform through its corresponding tokens, both on its website and at in-person events in South Carolina.…
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US: Crypto Could Pose a Problem for Candidates Seeking Security Clearances

The US Department of Defense is uncertain on how to proceed with processing security clearances of candidates who hold crypto assets. The recognition of Bitcoin as a form of foreign currency could potentially have an impact on decisions in recruiting new employees to the US Department of Defence (DoD), Bloomberg reported May 22. The Pentagon’s chief concern is whether investment in cryptocurrencies indicates criminal intent or constitutes an increased predisposition toward risky personal behavior.…
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Bitcoin Pizza Day: 8 Years Later – Where Can You Buy Pizza With Bitcoin?

Bitcoin Pizza Day - how Laszlo Hanyecz paved the way for Bitcoin’s success as a working, trustless, decentralized transactional system. Bitcoin Pizza Day is celebrated annually by the Bitcoin and cryptocurrency community - marking an important, yet comical milestone for the virtual currency. 8 years ago, a user paid for two pizzas using Bitcoin, in what is hailed as the first ever instance that the cryptocurrency was used to pay for goods. The moment is immortalized online in a Bitcointalk.org…
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Taiwan: Legislators Launch Parliamentary Blockchain Alliance to Promote Industry Growth

Taiwanese legislators have launched a parliamentary blockchain alliance that aims to achieve cross-party consensus on regulating the emerging sector. Taiwanese legislators have formed a parliamentary blockchain group to promote the development of the industry, according to a Facebook announcement by MP and legislator Jason Hsu Yu-Jen today, May 22. The new Taiwan Parliamentary Coalition for Blockchain (TPCB), headed by Hsu, hopes to achieve cross-party consensus among Taiwanese politicians to decide on a clear, “friendly” and robust regulatory framework for the blockchain sector and cryptocurrencies. A joint founding ceremony was held yesterday in Taipei for both TCPB and a newly established Taiwan Crypto Blockchain Self-Regulatory Organization (TCBSRO), whose members will be required to comply with transparency, data security, and investor protection measures developed to ensure a healthy and “law-abiding” market. According to Hsu’s announcement, the parliamentary alliance will work to push the Taiwanese government to be open-minded and proactive in regulating for technological innovation, as well as more broadly working to develop mutual trust between the crypto space and official authorities.…
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Australia’s Prime Minister Ordered Blockchain Research Push, Gov’t Agency Says

Efforts to study the benefits of introducing the Australian government to blockchain were partly a personal request from the prime minister. Australia’s $530,000 blockchain research push this year came as a result of a specific request by Prime Minister Malcolm Turnbull, reports reveal Tuesday, May 22. According to local news outlet ITNews, which quotes government officials, Turnbull had explicitly asked the country’s Digital Transformation Agency (DTA) – a body tasked with bringing government services into the digital age – to study blockchain. “The Prime Minister in fact wrote to our minister [assistant minister for digital transformation Michael Keenan] and asked us to have a look at blockchain, which evolved into this particular piece of work,” DTA chief digital officer Peter Alexander said. Alexander was referencing the agency’s $700,000 AUD ($530,000) budget award for the year 2018-19, specifically dedicated to the technology. “The Government will provide $0.7…
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Mitsubishi, MUFG Conduct Successful Pilot Payment With Major Thai Bank’s Blockchain

The Mitsubishi Group has successfully completed a pilot sending money from Thailand to Singapore using Thai Krungsri bank’s blockchain tech. Several major global banks have successfully completed a cross-border payment pilot test using Thai bank Krungsri’s (Bank of Ayudhya) Blockchain Interledger, according to a press release May 22. The pilot, conducted in the Bank of Thailand’s (BOT) regulatory sandbox, was executed by Japan’s Mitsubishi Group, their banking unit MUFG Bank, and the Standard Chartered Singapore bank. The test involved sending money in a period of seconds from a Thailand-based Mitsubishi Group subsidiary to the Standard Chartered account of a Singapore-based Mitsubishi Group Subsidiary, using Kungsri’s Interledger tech. Thakorn Piyapan, head of the Krungsri Consumer Group and the Digital Banking and Innovation Division, said of the pilot that the “technology-based transaction helps enhance their subsidiaries’ financial liquidity toward greater flexibility and efficiency.” Krungsri is currently Thailand’s fifth largest bank by total assets. Yesterday, the MUFG Bank – which is Japan’s largest bank, and the fifth largest bank in the world by total assets – announced that it had partnered with major U.S.-based…