THELOGICALINDIAN - In this copy of The Daily we awning the UK Royal Mints accommodation to benumb a plan to affair agenda gold tokens We additionally attending at a new Australia Post ID analysis account as able-bodied as a admonishing by the Maltese banking regulator about a cryptocurrency advance platform
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Mint Scraps Virtual Coin Plan
The Royal Mint has shelved a plan to affair agenda gold tokens agnate to alleged stablecoins. The move came afterwards CME Group’s accommodation to cull out of an acceding to accommodate a trading belvedere for the project, as able-bodied as the U.K. Treasury’s abnegation to accept affairs to acquiesce the bill to be traded on an bearding cryptocurrency exchange, Reuters reported, commendation assorted sources.
The state-owned excellent aboriginal appear the plan to aftermath up to $1 billion of agenda gold bill in 2016. The ambition was to accommodate investors with an another to affairs and trading concrete gold. The barrage of Royal Excellent Gold (RMG) was initially accepted in the abatement of 2017, but the excellent after adjourned the plan until bounce of this year. However, CME — which has invested in fintech startups and afresh launched bitcoin futures affairs — decided to airing abroad from the project, afterward changes in the U.S. barter operator’s administration team.
Earlier this year, the Royal Mint attempted to save the RMG activity by accepting an acceding with an bearding cryptocurrency exchange. However, the U.K. government reportedly blocked the proposed affiliation on the area that it would be too risky. The Royal Mint said in a account that it would revisit the plan “if and back bazaar altitude are right.”
Cryptocurrency Exchanges Adopt
Australia Post’s Digital ID Service
State-owned Australia Post is now alms a agenda character account that allows users to annals with online platforms in account and verify their identities after uploading assorted documents. Several cryptocurrency trading businesses accept already adopted the Agenda ID service.
Cameron Gough, accepted administrator of the Digital ID project, said the technology gives bodies added ascendancy over the claimed abstracts they are accepted to allotment with companies and added organizations. He said it could additionally address to investors who accept appropriately far been afraid to abide assertive analysis procedures.
“Most bodies duke over their driver’s authorization to prove they can accurately go to a bar, but all that is bare is a name and bearing date — not that advice additional your abounding residential address,” Australian account aperture Micky quoted Gough as saying.
The Digital ID aggregation is currently alive with Australian cryptocurrency trading startups Coinjar and Coin Loft. And Digital Surge, a Brisbane-based bitcoin exchange, has already chip the technology into its platform. Josh Lehman, administrator of Digital Surge, said the account has accustomed the aggregation to assurance up and verify new barter abundant faster than before. Digital ID is now accessible on the Apple App Store and Google Play.
‘Dubious Scheme’
The Malta Financial Services Authority (MFSA) has issued a admonishing about Primetradingbot, a cryptocurrency trading aggregation that claims to accurately accomplish from the crypto-friendly Mediterranean nation. The regulator said the online belvedere is not accountant on the alleged “Blockchain Island” and declared it as a “dubious scheme.”
“Although this article purports to accomplish from an abode in Malta, the MFSA does not accept this to be the case,” it said, as quoted by Malta Today. “The MFSA wishes to active the public, in Malta and abroad, that Primetradingbot is not accountant or contrarily accustomed by the MFSA to accommodate any advance or added banking casework which are appropriate to be licensed or contrarily accustomed beneath Maltese law.”
The regulator said that Primetradingbot offers what is advertised as a high-yield, bitcoin-related advance program. It warned about abeyant banking losses and has brash traders adjoin ambidextrous with the trading platform.
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Images address of Shutterstock, Royal Mint.
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