Cryptocurrency, despite the massive drop in value from a year prior, was still a hot topic of discussion at the World Economic Forum in Davos, Switzerland. Experts on cryptocurrency and blockchain debated the technology in the panel “Building a Sustainable Crypto-Architecture” with insight into both sides of the discussion.
In France, several proposed changes to the laws governing the tax treatment of cryptocurrencies were rejected in the parliament on December 17th. The proposals would have made the tax treatment for transacting in cryptocurrencies more advantageous. The decision comes a week after two French lawmakers released a report advocating for the investment of hundreds of millions of public money in blockchain technology.
The CEO of decentralized computing startup Substratum Network announced the company is planning to begin actively trading some of the $13.8 million USD it raised in its 2017 ICO. In doing so, it appears the company is backtracking on its white paper, where it promised to hold its treasury funds in a predetermined portfolio.
Financial infrastructure group CLS has announced that its distributed ledger technology-based payment netting service for foreign exchange (forex) markets went live on November 28th. Built in conjunction with IBM, CLSNet is already being used by U.S. banks Goldman Sachs and Morgan Stanley.
In a new interview, Arthur Hayes, CEO of popular cryptocurrency exchange BitMEX, has denied claims from an anonymous blogger that the firm engages in unethical practices to the detriment of its customers. Speaking with Yahoo Finance UK, Hayes denied claims made in a widely-read October blog post.