Market Analysis Report (20 Oct 2017)

Switzerland Awards First AML/KYC Licence To Bitcoin Company

Payment21, a payment gateway company, has become the first Bitcoin company to gain full regulatory compliance from Switzerland’s financial regulator, the Swiss Financial Market Supervisory Authority (FINMA). Managing Director Bernhard Kaufmann commented:

“We are committed to meeting the legal requirements of the Swiss financial marketplace. Our handling of compliance issues enriches the digital currency ecosystem, and demonstrates that Swiss regulators embrace competitiveness in financial services, and truly encourage Fintech innovation in the digital era.”

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Tezos Founders Enter Legal Battle for Control of Raised ICO Funds

The Tezos Project is currently in the midst of a governance issue that has escalated into a legal battle. The founders, Kathleen and Arthur Breitman, have become embroiled in a legal dispute with Johan Gevers – the president of a Swiss foundation, an independent body that would manage the ICO funds of Tezos.

Both parties accuse one another of having a conflict of interest which makes them unsuitable for managing the funds. According to Reuters, the Breitmans are now seeking to create a new foundation which, if they are successful, will allow the Breitmans to exercise greater control over the management of Tezos’ funds.

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Gates Foundation Launches Blockchain-based Mobile Payments Solution

The Bill and Melinda Gates Foundation has launched the Mojaloop open-source payments software to provide an interoperability layer between financial institutions, payment providers, and other companies offering payment services to the poor and unbanked people around the world. The mobile payments system employs the Interledger technology that was developed by Blockchain-based startup Ripple. Kosta Peric, the foundation’s deputy director of financial services for the poor, stated:

“Interoperability of digital payments has been the toughest hurdle for the financial services industry to overcome. With Mojaloop, our technology partners have finally achieved a solution that can apply to any service, and we invite banks and the payments industry to explore and test this tool.”

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Blockchain.info adds support for Bitcoin Cash (BCH)

The most widely used Bitcoin wallet in the world, Blockchain.info, has added support for Bitcoin Cash (BCH). Users can now store, exchange, and send Bitcoin Cash.

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