Blockchain Market Update – February 19, 2019

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February 19, 2019 by
Blockchain Market Update – February 19, 2019

OCBCOversea-Chinese Banking Corporation rolled out a digital security token, OCBC OneToken, on its mobile banking app to replace issuance of hardware security tokens and reducing SMS OTPs. Singapore-headquartered bank is eying to save SGD 25 million ($18.5 million) in next 5 years with this move—Financial Institution

IOTA FoundationPartners with startup incubator Nova, which aims to fund new startups using IOTA’s platform through IOTA Cofoundery program on Nova’s website. Program also grants selected startups access to Nova’s mentoring program and tech startup team, reportedly consisting of over 20 startup consultants—Project Development

U.S. CFTCCommodity Futures Trading Commission ended its collection of public comments on Ethereum and received a total of 42 feedback files, with comments from Ethereum Foundation, ConsenSys, Coinbase and Circle. CFTC started collecting comments in mid-December for a period of 60 days, putting forward 25 questions about Ethereum, aiming to learn about Ethereum, its network, and its similarities and differences between other cryptocurrencies—Other

New ZealandPrime Minister Jacinda Ardern announced plans to impose new digital services tax on multinational companies operating in New Zealand, which may be pegged at 2-3% of total income. Inland Revenue Department maintains their stance that cryptocurrencies are taxable property, not currencies—Regulation

ShiftBitcoin debit card, which allows Coinbase users to spend BTC using a Visa debit card, is shutting down operations. Users have received an email saying Shift was shutting down, with the debit cards set to deactivate on April 11—Other

BitmainReleases 2nd generation 7nm mining chip, BM1397. Official data shows new chip offers 28.6% more energy savings compared with the previous generation. The chip supports SHA256, which is used to mine BTC, BCH, and other SHA256-based cryptocurrencies—Mining

ParityForthcoming “Polkadot” protocol, a form of “para chain” that links many different types of blockchains, is slated to be released in Q3 2019—Project Development

Bank of LithuaniaResponding to dynamic market developments, Board of Bank of Lithuania updated their position on virtual assets and ICOs. Changed term ‘virtual currency’ to ‘virtual assets’ and requires financial market participants not be involved or provide services related to virtual assets—Regulation

SingaporeFinance Minister Heng Swee Keat announced Budget 2019 statement in Parliament, indicating 2019’s budget will focus on getting companies to deepen their capabilities, learn new skills, and master new technologies. Professional Conversion Programmes will be given related to blockchain, embedded software, and pre-fabrication—Regulation

“B2B reporter – Content Manager – Contributor – Fintech – Blockchain – Cryptocurrency”

Simon Chou is a B2B reporter and content manager specializing in technology and finance. He has worked with many clients in the fintech and blockchain space. He holds investment positions in bitcoin and other large-cap cryptocurrencies, and has been reporting on cryptocurrency since 2017. Currently, Simon is the content manager for a major cryptocurrency exchange @HybridBlockHQ.

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