Korean Peace Meeting Recorded on #Ethereum #Blockchain, Barclays Denies Crypto Rumours and UK Exchanges Call for Regulation

Crypto Corner - May 2, 2018

By Samuel Mowers at Investorideas.com

Korean Peace Meeting Recorded on #Ethereum #Blockchain, Barclays Denies Crypto Rumours and UK Exchanges Call for Regulation

The historic peace agreement between North and South Korea held on April 27 was recorded on the ethereum blockchain. CoinDesk Korea reports that Ryu Gi-hyeok, a 27-year-old South Korean game developer, coded the Panmunjom Declaration in both Korean and English. Ryu, who recently quit his job to become a blockchain developer, told CoinDesk Korea:

"Although I did not pay much attention to politics, I was overwhelmed by watching the summit. I just thought it was too long for the South and the North to give each other one step and listen to each other. After finding out what I could do as a developer, I found the Panmunjom Declaration from the Blue House homepage and recorded it on the Ethereum blockchain."

UK Bank Barclays' CEO Jes Staley has denied rumours that the bank will be introducing a cryptocurrency trading desk, Financial News reported yesterday. Despite spending time to gauge interest in launching a crypto service in April, Staley is reported to have said:

"Cryptocurrency is a real challenge for us because, on the one hand, there is the innovative side of it wanting to stay in the forefront of technology's improvement in finance. On the other side of it, there is the possibility of cryptocurrencies being used for activities that the bank wants to have no part of."

CryptoUK, a self-regulatory body of seven cryptocurrency exchanges in the UK, has called upon the government to enforce regulation in the space. City A.M. reports that "the group set out the plans as part of a written response to the Treasury Select Committee's inquiry into digital currencies today."

CryptoUK said regulation should focus on exchanges, brokers and trading platforms rather than the cryptocurrencies themselves, and said HM Treasury should grant the Financial Conduct Authority (FCA) new permissions to govern crypto investment.

The group wants the FCA to issue crypto-licences to approved platforms and enforce new requirements, including appropriateness checks on investors, anti-money laundering rules and operational standards.

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