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India’s Largest Banks Suspend Accounts of Leading Cryptocurrency Exchanges
The State Bank of India, HDFC Bank, ICICI Bank, Yes Bank, and Axis Bank have suspended the accounts of some of the leading cryptocurrency exchanges in India. Zebpay, Unocoin, Btcxindia, CoinSecure, and other exchanges are targets of this latest action in India. According to CryptoCrimson.com, these banks believe that cryptocurrency exchanges’ accounts have conducted ‘dubious transactions.’ The banks have also imposed a withdrawal cap on some of the accounts that remain active.
South Korea Requiring Cryptocurrency Exchanges to Share Users’ Transaction Data with Banks
According to the Yohnap News Agency, South Korea’s government announced that it plans to require cryptocurrency exchanges to share users’ transaction data with banks. The government has also outlawed the practice of opening anonymous cryptocurrency accounts until banks install a system to verify cryptocurrency owners’ identities and bank accounts. Banks are expected to introduce the system before the end of February 2018.
TEPCO and Shell Invest in Blockchain Applications to Enable Peer-to-Peer Surplus Energy Sharing
According to ETHNews, large energy providers around the world have recently taken steps to enable peer-to-peer (P2P) sharing of surplus energy between ecosystem participants and devices. Tokyo Electric Power Company (TEPCO), a Japanese energy provider, has invested an undisclosed amount of funds in Electron, a U.K.-based blockchain technology solutions provider for the energy industry. Royal Dutch Shell (Shell) also announced an investment in Applied Blockchain with its trading subsidiary, Shell Trading International.
Recent U.S. Patent Analysis Reveals Companies with the Most Blockchain Patents and Applications
According to recent patent analysis by Envision IP, 1,045 public patents or applications related to blockchain had been filed in the U.S. by 478 authors. As reported by the Motley Fool, Bank of America has 43 public blockchain patents or applications, which is the most filed by any other company. MasterCard and IBM have 27 patents each, which ties them for second. Fidelity Investments, Toronto-Dominion Bank, Accenture, Dell, and Coinbase all ranked in the top 10.