A summary of some of the widely followed stories on cryptocurrency and blockchain during the past 24 hours.
U.S. Congressman Warren Davidson Plans To Regulate Cryptocurrency, ICOs
Warren Davidson, the U.S. representative from Ohio's 8th congressional district, announced a plan to regulate cryptocurrency and initial coin offerings or ICOs through the federal government, local Ohio news agency Cleveland.com reported. The move would make cryptocurrencies one step closer to getting legality and bring clarity to U.S. crypto regulation.
Signature Bank Unveils Blockchain Payments Platform Signet; Wins NYDFS Approval
AM Signature Bank, a New York-based commercial bank, announced the launch of a blockchain-based digital payments platform to enable real-time payments for its commercial clients. The Signet payments platform received approval from the New York State Department of Financial Services or NYDFS. Further, deposits held within the Signet Platform are eligible for FDIC insurance, up to the legal insurable amounts defined by the FDIC.
Brazilian Lender Itaú Partners Standard Chartered To Offer Loans On Blockchain
Brazilian lender Itaú Unibanco teamed up with Standard Chartered to offer small loans, called "Club Loans," across Latin America on a blockchain-powered platform. The two banks have successfully completed the development and proof-of-concept (PoC) for the blockchain platform. The blockchain-powered loans platform was developed based on New York-based blockchain consortium R3's scalable Corda Connect blockchain platform. It is claimed to be the first loan club that uses blockchain platform in Latin America.
France's Auchan Implements Blockchain-powered Food Traceability
France's food retail giant Auchan has implemented blockchain-powered food traceability in five of the total seventeen countries it operates. This follows the success of an 18-months pilot conducted in its Vietnam branch. The French chain decided to implement TE-FOOD's "FoodChain" blockchain-based traceability solution in France, Italy, Spain, Portugal, and Senegal. The group operates more than 3700 points of sale in 17 countries worldwide.
As of now, Bitcoin is losing $1.68 percent or $64.47 at $3767 on Coinbase. Ethereum is trading at $99.25, down about 7 percent or $7.41.
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