BTC.com News Digest: South Korea Cryptocurrency Department, US Regulatory Sandboxes, Liverpool embraces Blockchain, Samsung products to be bought with crypto, Bulgaria and its first bitcoin ATM
23rd of July 2018, read the highlights of the latest cryptocurrency and blockchain news.
Staying up to date with all the latest crypto news can be overwhelming. Screening through Reddit’s home page, Twitter’s feed and keeping up with your favorite Youtuber can be tiresome. Just sit back with a cup of coffee, we’re here to digest some of the top crypto news of the week for you.
The Financial Services Commission of South Korea wants to create a new department dedicated to cryptocurrency and blockchain technology. The new department, “Financial Innovation Bureau (FIB)”, would assist in the development of policy initiatives for the blockchain and the fintech industry within the country as part of the coming Fourth Industrial Revolution. South Korea has been making significant efforts to regulate and offer a promising environment for blockchain and cryptocurrency companies.
Are you ready to be part of the Fourth Industrial Revolution?
The US will introduce regulatory sandboxes for fintech firms to help them develop new products and services. Regulatory sandboxes are areas in the law where regulation is lowered in order to help foster innovation and creative problem-solving, without companies having to worry about abiding by strict regulations. The practice has been used in Switzerland to foster cryptocurrency development projects in the nation’s crypto-valley.
Do you think these regulatory sandboxes will help the crypto industry to grow in the US?
The city of Liverpool, has announced a blockchain project to trade carbon outputs to achieve its environmental goals by the year 2020. Liverpool would be using blockchain technology to become the world’s first “climate-positive city”. They have partnered with a Malta-based start-up in order to conduct a year-long trial of a blockchain platform on which parties will be able to trade tokenized carbon credits, and should allow carbon emissions to be offset by around 110% according to predictions. Hopefully, Liverpool will be able to achieve its environmental goals thanks to blockchain by 2020.
Has your city already embraced blockchain projects?
Samsung’s Lithuanian branch announced that they would start accepting cryptocurrencies as a method of payment for the purchase of tablets, laptops, appliances and smartphones. At least three Samsung shops in the Lithuanian capital of Vilnius and one shop each in Riga and Tallinn will accept crypto payments under the new scheme. Samsung accepting cryptocurrencies isn’t much of a surprise as the innovative company is already using blockchain technology to monitor and manage its global supply line.
Ready to purchase your next smartphone with cryptocurrencies?
Bulgarian crypto enthusiasts can rejoice as the first cryptocurrency ATM will be installed in Bulgaria. Customers will be able to buy Bitcoin, Bitcoin Cash, Ethereum, Monero, and Litecoin using Bulgarian Lev, Euro, and US Dollars. They will also be able to exchange their Bitcoin or Litecoin for Bulgarian lev. The machine will also be able to issue contactless NFC cards to be used as crypto wallets. Many crypto traders and investors in Bulgaria should welcome this initiative to get more Bulgarians involved in the crypto sphere.
Bulgaria is paving the crypto way… Do you know where you can use a bitcoin ATM in your city?
Check out the original article here.
Author: Eléonore Blanc