More countries back Blockchain but Chile doesn’t agree

More countries back Blockchain but Chile doesn’t agree

India, United Arab Emirates, and seven countries in southern Europe have backed blockchain technologies in the last days as governments, states and companies have made moves to promote the technology. The Supreme Court in Chile, on the other hand, has ruled against crypto exchange Orionx.

India is a new friend in the blockchain neighbourhood.

Andhra Pradesh, an Indian state, launched the Andhra Pradesh Innovation Society (APIS) this Wednesday with the intention to promote the blockchain startups ecosystem in the region.

In association with Eleven01 Foundation, APIS will work in the developing of a talent pool and new startups focused on Blockchain. Both companies have the vision to make India a blockchain hub. They want to develop the best blockchain talent pool and innovation in the country.

Mediterranean Europe backs Blockchain

Seven countries, no less, Italy, France, Spain, Greece, Cyprus, Portugal, and the Blockchain island Malta signed a declaration calling for help in the promotion of Blockchain technology.

Silvio Schembri, Jr Minister for Fin Services, Dig. Econ. & Innovation, announced the declaration on the internet as he tweeted that “@MaltaGov leads six other EU Member States to sign a joint declaration on cooperation on #blockchain technology. Proud to see the smallest nation in the EU taking a leading role. Thank you #France #Spain #Italy #Portugal #Greece & #Cyprus for your support.”

Explicitly, the declaration backed Distributed Ledger Technology, which one type is blockchain, as the signers believe it could be a game changer for southern European economies, historically behind the northern ones.

“We believe that Distributed Ledger Technologies could be one of the instruments that can help our countries transform their economies and society into truly digital ones and become a leading region in this sector,” the declaration says.

The paper, called “Southern European Countries Ministerial Declaration on Distributed Ledger Technologies,” says that the seven countries “view the digital sphere as an ideal policy area to embark on further cooperation.”

The document also highlights the “responsibility of the governments to ensure that their citizens fully understand the potential of emerging technologies and therefore promote and encourage educational programs on such technologies at all levels.”

Chile says stop to Orionx

Crypto exchange Orionx will get its account on a state-owned bank as the Chilean Supreme Court ruled it. The decision was taken as cryptocurrencies are not backed by any government or company.

Previously, the court ruled in favour of Orionx as it provided protection Orionx and ordered Banco del Estado to reopen its account. However, the decision was revoked as the Supreme Court is afraid of money laundering or illegal activities.

“While there is no regulatory recognition of the activity, this, in order to comply with legal regulations and that emanated from the entity mandated by law to monitor it, which seeks to prevent the bank and its products from being exploited in order to carry operations of money laundering or terrorist financing, among other possible risky activities”

As reported by Coindesk, “The litigation started in mid-April 2018, when local crypto exchanges BUDA, Orionx, and CryptoMarket (CryptoMKT) applied to an appeals court to confront two banks, private Itau Corpbanca and state-owned Banco del Estado, that had shut down their platforms’ accounts. BUDA’s co-founder and CEO Guillermo Torrealba claimed at the time that the banks’ decision to close accounts was killing the entire industry.”

Recently Similar News

cex-promotion exmo-promotion

Latest Guides

Latest News

BitPanda CEOs Win Entrepreneur of the Year Award

Paul Klanschek and Eric Demuth, the two CEOs of BitPanda, have taken home the Entrepreneur of the Year in an event hosting by world-leading accountancy firm, Ernst and Young. The prize follows a very exciting year for the exchange platform. 2019 saw them host the highest ever recorded IEO of their native, BEST token, as […]

22 October, 2019
CFD,Exchange Platforms,Expansion,Trading

Trade.com Expands into UK and Irish Markets

The CFD trading platform, Trade.com yesterday beckoned in a new dawn of operations by setting up shop in the UK and Ireland. The expansion into this new market comes as the platform sets-up shop in one of the financial hubs of the world, London. This will see the CFD platform become more accessible to users […]

22 October, 2019
Binance,Bitcoin Cash,Decentralised,Pegging

Bitcoin Cash to Become Latest Pegged Token On Binance Chain

Following the listing of Bitcoin Cash (BCH) on the Binance DEX, a new token known as BCH-1FD tokens, which is pegged to the value of BCH, will be created on the Binance Chain. This promises to provide users of the Binance DEX with more trading options on the exchange, while maintain they continue to obtain full custody over their […]

21 October, 2019
KuCoin,Pairings,Tron,Updates

KuCoin Adds TRX Trading Market

The expanding cryptocurrency exchange, KuCoin has listed pairings for Tron on their platform which will see them dive develop their operations with Tron. This new trading market will go live later today, October 21st, at 18:00 (UTC+8) with the trading pairs of BTT/TRX and WIN/TRX being added. While trading of TRX on the platform has […]

21 October, 2019
Blockchain,Learn,Malta

The University of Malta To Offer a Masters in Blockchain

It is now possible to get a certified degree in blockchain and distributed ledger technology at the University of Malta. Malta has been recently establishing itself as very much the hub of cryptocurrency in Europe. The small Mediterranean island has been one of the first locations on the continent to provide the infrastructure for the […]

20 October, 2019
cryptocurrency hedge funds,Custodian,Fidelity,Updates

Crypto Custody Services From Fidelity Set to Launch

In a new interview, the CEO of Fidelity Investments has announced the roll-out of their much-anticipated crypto custody service. Speaking to The Financial Times, CEO, Abigail Johnson explained that after year-long preparation it was ready to venture into this new area of cryptocurrency investment. This was described by Johnson as “enterprise-quality custody and trade execution […]

19 October, 2019
BitPanda,Europe,Finance,Payment Solution

You Can Now Send Money & Pay Bills with New BitPanda Pay

The exchange platform, BitPanda, has unveiled a new BitPanda Pay service which will allow you more freedom to use your BitPanda balance in everyday life. BitPanda will allow users to bridge the gap between your holdings in the cryptocurrency world and the financial services you need to take off in the real-world. The new service […]

19 October, 2019
Binance,Futures Trading,Investment,Updates

Binance Futures Increases Leverage to 125x

As of today, traders who use Binance Futures will be able to benefit from the larger Leverage on both margin and trading available on the service. Binance Futures has been up and running for a couple of months now and has so far proven to be a big hit with traders. Owing due to its […]

18 October, 2019