Among the provisions contained in the new bill are measures to create a regulatory sandbox for startups to innovate with blockchain tech.
A pilot program will be open to companies until December 31, allowing companies to test digital currency transactions without the usual regulatory oversight.
The sandbox will be used to provide an environment for the testing of use cases for blockchain and digital assets, as part of the European Blockchain Services Infrastructure.
Hawaii has accepted 12 digital currency firms into its new regulatory sandbox, allowing them to serve its residents without a money transmitter license.
Chengdu joins Beijing, Shanghai, Shenzhen in creating an enabling environment for blockchain, artificial intelligence, big data and more.
Citizens will be able to access government services in Busan city via the app, which is used to verify their identity.
South Korea has revealed that its fintech sandbox has been a massive success, with $111 million worth of investment attracted and the creation of 380 jobs.
The Israeli Capital Market Authority is seeking to make changes to its licensing regime in order to encourage competition and grow the country’s fintech industry.
The Brazilian sandbox, supported by several agencies, will allow them to study new technologies while encouraging innovation.
Lobby groups are urging the Reserve Bank of India to reconsider its ban on cryptocurrency-related products from joining the proposed regulatory sandbox.
A total of 105 companies had applied to take part in the program since its launch in January 2018, according to South Korea’s Financial Services Commission.