- A report published by the Financial Stability Board (FSB) on Wednesday, claimed that cryptocurrencies do not pose a risk to global financial stability at the present time while suggesting crypto markets need to be monitored. Summarizing this view, the report states:
"Based on the available information, crypto-assets do not pose a material risk to global financial stability at this time. However, vigilant monitoring is needed in light of the speed of market developments. Should the use of crypto-assets continue to evolve, it could have implications for financial stability in the future."
- One of the oldest and most noted art auction houses in the world Christie’s is turning to blockchain tech to securely store sales and provenance data. It’s collaborating with blockchain-powered digital art registry Artory to pilot the encrypted recording of auction transactions.
Richard Entrup, chief information officer at Christie’s said:
"Our pilot collaboration with Artory is a first among the major global auction houses, and reflects growing interest within our industry to explore the benefits of secure digital registry via blockchain technology."
- India may launch its own cryptocurrency and is set to suggest the development of a state crypto token on a blockchain developed by the government.
"We are evaluating the government-backed cryptocurrency and crypto-token.Right now, we have a group of people who are looking at fiat cryptocurrencies. Something that is an alternative to the Indian rupee, so to speak. We are looking at that closely," the senior central bank official said.
At least five more university endowments have invested in cryptocurrency funds. Major educational institutions including Harvard University, Stanford University, Massachusetts Institute of Technology, Dartmouth College, and the University of North Carolina have each invested in at least one cryptocurrency fund.
Boxing Legend, an eight-division world champion Manny Pacquiao’s cryptocurrency could launch by the end of the year.
According to a StraitsTimes report, Singapore based Global Crypto Offering Exchange (GCOX) is in charge of the launch of the Pac Tokens, the cryptocurrency that leverages on the popularity of the Philippine boxing legend.
- The United Arab Emirates (UAE) is pressing ahead with plans to introduce initial coin offerings (ICOs) as means toward fundraising for companies and startups in 2019. Specifically, ICOs will be considered as "securities" by authorities under regulations, enforced early in 2019.
Have a nice and productive week! See you next Monday!