PBOC meet - 'Legal' contracts - $60m moves

Bitcoin's success - New rules - Hashed Health funding - Japan's CB - Lost litecoin - ESMA waiting - Bitcoin volatility
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February 8th, 2017
"If we learn the art of yielding what must be yielded to the changing present, we can save the best of the past." – Dean Acheson
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An investment fund is signaling strong confidence in the global blockchain ecosystem.
 
Just two months after launching a $20 million fund with the purpose of investing in bitcoin startups, Huiyin Blockchain Venture – a subsidiary of investment firm Huiyin Group – has increased the capital to $80 million.
 
In conversation with CoinDesk, the fund's president indicated that the main areas of interest would be blockchain use cases, infrastructure and exchanges. Furthermore, it is open to seed funding as well as the more advanced Series A and B.
 
While based in China, the firm has a notably international outlook, with investments in the bitcoin marketplace Purse, Indian exchange Unocoin, Germany-based micropayments platform SatoshiPay, Mexican exchange Bitso and social media platform Yours. Last month, Huiyin Blockchain Venture led a round in Argentinian bitcoin company Ripio (re-branded from BitPagos).
 
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Wait, there's more:
What Makes Bitcoin Great? One Academic Is on a Quest to Find Out
CoinDesk spoke to Elaine Shi, a researcher at Cornell's IC3, who is trying to unravel the subtleties of why bitcoin works as well as it does. If we can understand that, she argues, we should have a clearer idea of how to improve the consensus protocol without losing security and robustness. Read more.
 
China's Central Bank Meets With More Bitcoin Exchanges
The People's Bank of China has continued with its strategy of personal meetings with China's bitcoin exchanges, this time focusing on smaller operations. According to sources, BTC Trade and Yunbi were among those present. Read more.
 
Japan's Central Bank Clarifies Blockchain Experiments
According to the central bank's head of payments, the recent testing will help it become familiar with how the technology works. The institution, he said, has no intention of applying it to its processes any time soon. Read more.

Trader Sues OKCoin Over Lost Litecoin
According to court documents, the Hunan-based trader deposited litecoin in his account, only to wake up the next day to find that the funds had moved without his authorisation. Read more.
 
Bitcoin Volatility Tightens After Prices Surge to 1-Month High
The decline in volatility has become more apparent since China's leading exchanges changed their trading fee policies. Read more.
 
Arizona Bill Would Make Blockchain Smart Contracts 'Legal'
Introduced earlier this week, the bill would make a signature hashed on a blockchain legal under Arizona law. It also explicitly allows the use of smart contracts in commerce. Read more.
 
Blockchain Startup Hashed Health Raises $1.8 Million
The funding round was led by Martin Ventures, an existing investor that focuses on healthcare and technology. Fenbushi Capital also participated, along with a group of private investors. Read more.
 
EU Securities Watchdog: New DLT Regulations Would Be 'Premature'
ESMA published a new report yesterday that outlined the results of its 18-month-long research process into blockchain technology. For now, it says, it's taking a hands-off approach while leaving the door open to future regulations. Read more.
 
The Philippines Just Released New Rules for Bitcoin Exchanges
They include quarterly and annual reporting requirements, applying for a registration certificate, following security guidelines and registering with the anti-money laundering authorities. Read more.
 
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BTC: $1,043.60 -0.8% 
ETH: $11.32 -1.8%
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