The rapid onset of technological advancement is not evenly spread. Society is increasingly becoming digitally literate and uses emerging technology for work, to communicate and pay for things in ways unimaginable just 15 years ago. So, why are methods of governance largely unchanged since the invention of liberal democracy hundreds of years ago? Although many aspects of government remain entrenched in the past, one area is being brought into the 21st century: identity. With fears regarding third-party data abuse, citizens are more concerned than ever about how this affects their lives and their sovereignty. A number of innovative government departments …

Most Europeans believe cryptocurrencies can be spent in most stores, according to the results of a survey conducted by ING Bank and published on Sept. 18. Crypto can be spent in most stores? The survey, which saw 15,000 Europeans from 15 different countries answer questions about crypto, revealed that 51% of the respondents believe cryptocurrencies can be spent in most stores. Cryptocurrency, of course, is not accepted at most stores unless you are in a “Bitcoin city” like Arnhem, the Netherlands, for example, or somewhere in Japan. Crypto-friendly store map website CoinMap currently shows that there are 15,430 brick-and-mortar locations …

Germany’s government has approved a blockchain strategy that aims to prevent stablecoins from becoming alternative currencies and threatening state sovereignty. Reuters reported on Sept. 18 that Chancellor Angela Merkel’s cabinet passed the strategy earlier today, in an apparent bid to mitigate the risks posed by the forthcoming Libra cryptocurrency from social media giant Facebook. We will not leave currency issuance “to private companies” Reuters cites Finance Minister Olaf Scholz as saying that, while the government wishes to further strengthen Germany as a leading technology location and foster blockchain innovation, the state remains cautious about prospective digital currency issuance from the …

The European Space Agency (ESA) has awarded a 60,000 euro ($66,400) grant for blockchain startup SpaceChain to commercially develop its satellite-powered, multi-sig wallet. According to an announcement published on Sept. 18, the new grant comes via ESA’s “kick-start activities” fund. SpaceChain’s project, if successful, also stands poised to secure additional funding in the future from ESA's Business Applications and Space Solutions. Multi-sig security in orbit Since 2017, SpaceChain has been working to build an open-source, blockchain-based satellite network and has already developed its open-source operating system and flight-tested two blockchain nodes in outer space. The grant will enable the startup …

A board member of the European Central Bank (ECB) has argued that stablecoins like Facebook’s long-awaited Libra coin pose risks to public policy priorities. ECB board member Benoit Coeure delivered his comments on stablecoins’ regulatory issues at a meeting at the Bank of International Settlements (BIS) in Basel, Switzerland, Reuters reported on Sept. 16. Coeure specifically stated: “Stablecoins are largely untested, especially on the scale required to run a global payment system. [...] They give rise to a number of serious risks related to public policy priorities. The bar for regulatory approval will be high.” 26 global central banks and …

CF Benchmarks, CME Group’s Bitcoin (BTC) index provider, received a benchmark license under the European Benchmarks Regulation (EU BMR). On Sept. 13, CF Benchmarks’ official Twitter account announced that the firm received its license from the United Kingdom’s Financial Conduct Authority (FCA). In the tweet, the firm also claims to be the first cryptocurrency index provider to reach this goal: “CF Benchmarks is the first #crypto index provider to receive EU BMR authorisation from [the FCA].” Regulatory future-proofed According to the report published by financial news outlet Finextra on Sept. 13, the authorization will allow CF Benchmarks to offer its …

The government of Germany has spoken against the authorization of the development of Facebook’s forthcoming Libra stablecoin in the European Union. As German weekly news magazine Spiegel reported on Sept. 13, the Christian Democratic Union (CDU) parliamentarian Thomas Heilmann — who is responsible for the blockchain policy of the CDU and Christian Social Union in Bavaria set to be approved later in September — the government will deny projects like Libra. “Not to allow market-relevant private stablecoins” Heilmann stated that it was agreed in the grand coalition "not to allow market-relevant private stablecoins." He further explained: "Up to now, the …

City of London Police have arrested a 19-year-old citizen suspected of hacking major music acts in a bid to steal unreleased songs and sell them for digital currency, Canadian daily newspaper The Vancouver Sun reported on Sept. 13. The Manhattan District Attorney’s office initiated an investigation after receiving complaints from management companies of recording artists. Commenting on the matter, Detective Inspector Nick Court from the City of London Police Intellectual Property Crime Unit stated: “Today’s action marks a significant point in our investigation into the individuals responsible for stealing music and selling it on illegal streaming websites, worldwide.” Crypto facilitates …

French Finance Minister Bruno Le Maire has said that Europe should consider its own “public digital currency” that could challenge Facebook’s Libra. The minister’s remarks — the latest in a series of vocal misgivings about the social media giant’s cryptocurrency plans — were reported by Reuters on Sept. 13. “EuroCoin”? At a meeting of EU finance ministers in Helsinki, Le Maire told reporters that he would be discussing the potential for a European public digital currency with his counterparts on the continent next month. He also reiterated his concerns that the proposed Libra stablecoin could pose risks for consumers, financial …

The United Kingdom, the United States, Hong Kong and Singapore have the largest number of registered digital currency exchanges, according to data from Bitfury’s blockchain analytics platform Crystal. Crystal published its “Report on International Bitcoin Flows 2013–2019” on Sept. 9, in which it provides insight into cryptocurrency operations and Bitcoin (BTC) transactions around the world between Jan. 1, 2013, and June 30, 2019. U.K. and U.S. lead the rating The findings show that the largest number of registered crypto exchanges are in the U.K., the U.S., Hong Kong and Singapore. Countries such as Argentina, India, Mexico, Russia and Indonesia report …

Portuguese police and Europol have seized funds worth €70,000 ($77,200) in what they describe as one of the most advanced counterfeiting operations ever seen. €1.3 million in fake notes sold since 2017 As Brazilian daily news outlet Sputnik and others reported on Sept. 10, law enforcement succeeded in bringing down the ring, which sold fake notes on the dark web in return for Bitcoin (BTC). In action since 2017, the operation created €1.3 million ($1.44 million) in fake money. The leader, from Portugal, was found and extradited from Colombia this week. According to police, the notes were some of the …

San Francisco-based cryptocurrency exchange OKCoin will now offer fiat-to-token and token-to-token trading services to residents of seven more U.S. states. OKCoin expands services in the United States of America On Sept. 5, OKCoin, one of the top cryptocurrency exchanges by adjusted volume, announced that its trading services are now available in 7 new US states: Arkansas, Iowa, Kentucky, Mississippi, Pennsylvania, Utah and Wisconsin, which are added to an already extensive list of areas of operation in the U.S.. Expanding into Europe Cointelegraph reported in early June that OKCoin had decided to launch its services to non-U.S. customers, who from that …