Digital Currency and Blockchain Weekly Round-Up – November 22nd, 2019
European Commission and EIF launch Blockchain and AI Fund
The European Commission (EC) has launched a dedicated EU equity investment fund for artificial intelligence (AI) and blockchain technologies in collaboration with the European Investment Fund (EIF). Called “the Blockchain and AI Fund,” the investment fund aims to support and leverage investments in highly innovative start-ups and tech companies.
IRS Criminal Investigators scrutinize crypto ATMs, kiosks for potential tax issues
The Criminal Investigation Division at the U.S. Internal Revenue Service (IRS) has turned its attention to the potential tax issues stemming from cryptocurrency kiosks and Bitcoin ATMs, Bloomberg Law reported. IRS Criminal Investigation Chief John Fort told the news portal that his team is cooperating with law enforcement agencies to monitor the illicit activity facilitated through crypto ATMs and kiosks.
UK Jurisdiction Taskforce recognizes cryptoassets as property and smart contracts as enforceable agreements
The UK Jurisdiction Taskforce (UKJT), one of the six taskforces of the LawTech Delivery Panel (LTDP), has officially recognized cryptoassets as tradeable property and smart contracts as enforceable agreements under English law and Welsh law. LTDP has published its “Legal statement on cryptoassets and smart contracts” to offer legal clarity on these areas.
Chinese authorities move forward with plans to introduce blockchain standardization
The People’s Bank of China (PBoC) is reportedly seeking to set industry standards across the financial sector to guide the application of new and cutting-edge technologies. According to a report from Xinhua News Agency, PBoC vice president Yifei Fan recent revealed the technologies that are currently on the central bank’s radar for standardization, including…