South Korean Officials Retract Threat to Ban Cryptocurrency Exchanges
According to Bloomberg.com, South Korean policy makers claimed they it will focus on making cryptocurrency trading more transparent rather than banning it altogether. Hong Nam-ki, the minister of the Office for Government Policy Coordination, posted the more cryptocurrency-friendly message on the presidential website. This video is the government’s first coordinated response after a justice ministry proposed a ban on cryptocurrency exchanges in December 2017.
Coinbase Launches Coinbase Commerce With Shopify Integration to Compete Against Bitpay
Coinbase has launched a new service, Coinbase Commerce, to enable online stores to handle payments in Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. According to Bitcoin.com, Coinbase Commerce is not a hosted service — so retailers have full control of their cryptocurrency. The new platform has already been integrated with Shopify, one of the largest multi-channel commerce platforms with over 500,000 merchants and a total gross merchandise volume of more than USD 45 billion.
Expert Witnesses Call For U.S. Government-Facilitated Research Into Public Uses of Blockchain
In a congressional hearing yesterday, titled “Beyond Bitcoin: Emerging Applications for Blockchain Technology”, the U.S. House Subcommittee on Research and Technology and the Subcommittee on Oversight posed several questions to blockchain expert witnesses on the most promising use cases of blockchain technology — including its potential use within the U.S. government. According to CoinDesk, the witnesses generally recommended that Congress set up a legal framework which would encourage and facilitate research into public and government uses of blockchain. “I would encourage Congress to commission a blockchain advisory group,” said Aaron Wright, an associate clinical professor at the Benjamin N. Cardozo School of Law and co-director of its Blockchain Project.
Canadian Securities Exchange To Launch Security Token Offering Platform
The Canadian Securities Exchange (CSE) has announced it will launch a securities clearing and settlement platform on the Ethereum network that lets companies raise capital through security token offerings (STOs). As reported by Coin Telegraph, STOs conducted on the CSE platform will “be subject to full regulation by applicable securities commissions.” The CSE suggests STOs are a more legitimate and legal alternative to ICOs, which the exchange calls “unregulated.”
Microsoft Testing a Blockchain- and Cloud-Based Digital ID Management Platform
Microsoft plans to test a blockchain-based digital ID platform that would enable users to control access to their information. After reflecting on lessons learned from their internal research on blockchain and through collaboration in its ID2020 Alliance, Microsoft is planning to test its existing cloud-based Microsoft Authenticator application for digital ID management. According to Computer World, Microsoft is planning to work with other companies and industry groups while developing and testing the platform.