Industry Watch 6 February, 2018

Nami | Daily Crypto News 05.02.2018

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Coin Desk: The ‘Dean of Blockchain Lawyers’ Just Got a New Job

Marco Santori, One of the first and most influential lawyers to represent blockchain and cryptocurrency businesses, is leaving Cooley LLP, where he’s been a partner since November 2016, to become the president and chief legal officer of Blockchain, a longtime client and one of the industry’s best-known wallet startups.

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Financial Times: Lloyds’ ban on credit card purchases of bitcoin makes sense

“Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,” a spokesperson said. Customers will still be able to use their debit card to pay for bitcoin and its many imitators.

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SCMP: ‘China’s Google’ jumps on the blockchain-based game bandwagon with digital pooches

Baidu, known as “China’s Google”, unveiled a service where users can adopt, raise and trade digital pet dogs. The service, set to be unveiled ahead of the Year of Dog in China. The value of the blockchain-based digital pets goes up and down depending on the market – but they are not virtual currencies themselves

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Time: This Airline Is Launching a Frequent Flyer Program Inspired by Cryptocurrency

Singapore Airlines is rolling out a digital wallet based on blockchain technology that passengers can use to spend their frequent flier miles. KrisApp, Singapore Airlines’ loyalty program, will get a digital app in around six months.

The Business Times: India to bar cryptocurrencies from its payments system

India is planning steps to ensure cryptocurrencies are illegal within its payments system, while at the same time appointing a regulator to oversee unregulated exchanges that trade in “crypto assets,” a finance ministry official said on Monday.

Fortune: China Enlists Its ‘Great Firewall’ to Block Bitcoin Websites

China will reportedly block anyone in the country from accessing websites that offer cryptocurrency trading services or initial coin offerings (ICOs). Advertisements relating to Bitcoin and other virtual currencies have also been scrubbed from search engines and social media in the country.

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Coin Desk: Italian Crypto Businesses to Register Under Proposed New Rules

The Italian government is seeking feedback on proposed cryptocurrency regulations intended to clarify the technology’s use within the country. The main purpose of the decree is to enforce recently implemented anti-money laundering rules passed by the European Union, of which Italy is a founding member.

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Coin Telegraph: UAE Financial Watchdog Warns Investors Over ICO Risks

Issued on Feb. 4 by the Securities and Commodities Authority (SCA), the circular alerts residents in the country to be aware of the risk of investing in token-based fundraising activities such as ICOs and token pre-sales. The risks, as stated out by the SCA, could stem from both the project being presented in an unaudited or misleading manner, as well as highly volatile price fluctuations after a token starts trading on a secondary market. The SCA further highlights that, since the agency doesn’t currently regulate or supervise any ICO projects, no legal protection can be provided to investors in a case of fraud.

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