Crypto Corner: UK Creates "Crypto Task Force", Binance May or May Not Be Running Afoul of FSA and Google Explores Blockchain Tech
Point Roberts, WA and Delta, BC - March 22, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner.
Crypto Corner - March 22, 2018
By Samuel Mowers at Investorideas.com
UK Creates "Crypto Task Force", Binance May or May Not Be Running Afoul of FSA and Google Explores Blockchain Tech
The UK has announced the creation of a "cryptoassets task force" as part of its Fintech Sector Strategy at the government's International Fintech Conference today.
At the conference, Chancellor of the Exchequer Philip Hammond said:
"I am committed to helping the sector grow and flourish, and our ambitious Sector Strategy sets out how we will ensure the UK remains at the cutting edge of the digital revolution. As part of that, a new task force will help the UK to manage the risks around Cryptoassets, as well as harnessing the potential benefits of the underlying technology."
According to the press release the task force will consist of Her Majesty's Treasury, the Bank of England and the Financial Conduct Authority.
In a piece from Nikkei it was reported that cryptocurrency exchange Binance will be issued a warning from Japan's Financial Services Agency (FSA) for expanding operations in Japan without proper permission.
However, Binance CEO Changpeng Zhao has hit against the story in a tweet earlier:
"Nikkei showed irresponsible journalism. We are in constructive dialogs with Japan FSA, and have not received any mandates. It does not make sense for JFSA to tell a newspaper before telling us, while we have an active dialog going on with them."
Bloomberg reported yesterday that internet giant Google is working on creating its own blockchain-related tech to facilitate transactions and its cloud services.
"Google is working on blockchain-related technology to support its cloud business and head off competition from emerging startups that use the heavily-hyped technology to operate online in new ways, according to people familiar with the situation.
Companies use blockchain and other so-called digital ledgers to securely record transactions and process other data over the internet -- a service Google could use, for example, to reassure customers that their information is protected when stored on the giant network of computer servers that power its cloud services."
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