ChainCatcher news, according to Coindesk, the UK Treasury stated in a statement on Thursday that the UK government will launch a pilot program to issue digital government bond instruments similar to bonds using distributed ledger technology.The Treasury stated: "The government will launch a pilot program to provide digital government bond instruments using distributed ledger technology (DLT) to demonstrate the government's commitment to innovation in the financial services sector." DLT is the underlying technology for crypto assets, where each node can store and update data. UK Treasury Economic Secretary Tulip Siddiq stated that the Labour Party will soon announce its plans in the cryptocurrency sector.Bloomberg cited unnamed sources as saying that the Labour Party is likely to continue following in the footsteps of the previous ruling Conservative Party by developing legislation for stablecoins and staking.

ChainCatcher news, according to Ledger Insights, the Association for Financial Markets in Europe (AFME) outlined its vision and policy recommendations for DLT and tokenization in Europe. This is a response to the EU Capital Markets Council FISMA's call for feedback. The document presents several recommendations addressing key issues that hinder the development of tokenization in the EU.One key recommendation relates to CSDR, which is the regulation governing Central Securities Depositories (CSDs). Today, key functions performed by CSDs include issuing securities, acting as record keepers, and providing settlement infrastructure. DLT can provide record-keeping functions. Smart contracts can execute functions such as paying interest or dividends.Additionally, AFME believes that the requirement to register as a CSD is overly burdensome. Many banks are interested in providing DLT SS but do not want to become a CSD. The DLT pilot regime has a very low cap on activities, which is not attractive for large entities. Therefore, AFME recommends raising the cap and also hopes that securities issued under this regime will qualify as central bank collateral.

ChainCatcher news, according to Cointelegraph, European Central Bank Executive Board member Piero Cipollone proposed the concept of a European ledger, a unified European digital asset ledger to centralize digital assets and funds in Europe, thereby improving efficiency and synergy. He stated that Europe’s traditional capital markets are fragmented and need to overcome inconsistent legislation, but there is an opportunity to create a unified platform for digital assets. He referred to this platform as the Digital Capital Markets Union.Cipollone noted that over 60% of banks in the EU are exploring or experimenting with Distributed Ledger Technology (DLT), and another 22% are already using it. He stated at a seminar hosted by the German central bank that while DLT offers an opportunity to create financial integration, it does not guarantee it. On the contrary: "The non-interoperable technological ecosystems of each country or region, shaped by different regulatory regimes, create isolated liquidity pools of assets, further exacerbating fragmentation."

ChainCatcher news, the Bank of England (BoE) and the Financial Conduct Authority (FCA) have launched a Digital Securities Sandbox (DSS), allowing companies to explore how to use Distributed Ledger Technology (DLT) for the notarization, maintenance, and settlement of financial securities.The FCA recognizes that developing technology has the potential to bring efficiency, transparency, and resilience to the market. The regulator stated that if these technologies are successfully implemented, they could make processes cheaper and faster, thereby "saving costs between the market and users." It emphasized that the DSS will facilitate the trading, settlement, and issuance of digital securities in the UK. This will be done on programmable and distributed ledgers while complying with the regulations of the Bank of England and the FCA.The FCA added that this initiative will strengthen the UK's position as a global financial center, creating the right conditions for investment and sustainable growth.

ChainCatcher news, according to CoinDesk, the rating agency Moody's stated in its first report on the DePIN (Decentralized Physical Infrastructure) sector released on Tuesday that DePIN can help existing networks expand and innovate, but various risks such as unclear regulations may hinder its growth."By combining established parts of the system backbone with building blocks of distributed ledger technology (DLT), DePIN has the potential to enhance the reliability and efficiency of networks while reducing operational costs, optimizing resources, and facilitating industry collaboration," the authors of the report stated."However, widespread adoption of DePIN faces significant obstacles, including regulatory and interoperability issues, cybersecurity risks, and the enormous investment requirements for infrastructure and skills," they added.The report noted that existing network operators—such as telecommunications companies and utility companies—are facing increasing user demands that require capital-intensive infrastructure development. The report also pointed out that leveraging decentralized models could help them alleviate some of the pressure while maintaining competitiveness as artificial intelligence and the Internet of Things (IoT) disrupt traditional business models.

ChainCatcher news, the Jordanian Ministry of Digital Economy and Entrepreneurship recently announced a partnership with the local blockchain company Blockexe to launch a national blockchain technology network called Modee Dlt, aimed at enhancing trust in government services and increasing transparency.The blockchain network has been integrated with the Jordanian government portal, allowing for decentralized and verifiable digital records of all Sanad transactions. Reports indicate that this initiative aligns with Jordan's digital transformation strategy (2021-2025), which focuses on strengthening the country's digital infrastructure.

ChainCatcher news, Hong Kong Securities and Futures Commission CEO Ashley Alder pointed out at the Greenwich Economic Forum (Hong Kong) that leveraging technology effectively focuses on Distributed Ledger Technology (DLT).Alder noted that DLT is applied in the financial market for virtual assets. Bitcoin has endured multiple cycles of boom and bust over the past 15 years, proving its viability as an alternative asset. More importantly, as the underlying technology of Bitcoin, DLT will stand the test of time. The potential advantages of DLT are evident; this technology can enhance the efficiency of physical assets in distribution, clearing, settlement, and custody while reducing costs.She emphasized that while the NFT craze may have waned, the underlying technology is gradually being adopted in the world of physical assets, with physical assets increasingly being tokenized. The potential benefits include several aspects. Maintaining a technology-neutral stance, the Hong Kong Securities and Futures Commission adopts the principle of "same business, same risks, same rules." Investor protection is a top priority in their work.

ChainCatcher news, the CEO of the Hong Kong Securities and Futures Commission, Ashley Alder, delivered a speech at the Greenwich Economic Forum (Hong Kong), emphasizing the profound impact of technology, particularly Distributed Ledger Technology (DLT), on financial markets. She pointed out that DLT has already shown significant results in areas such as virtual assets and trade finance, and it has the potential to enable all financial activities to occur on the blockchain in the future. The Hong Kong government and the Securities and Futures Commission are actively promoting the development of the DLT and Web3 ecosystem, including the issuance of digital government green bonds and tokenized investment products to enhance market efficiency and transparency.

ChainCatcher news, LINE's public blockchain project Finschia has registered as a DLT foundation in the Abu Dhabi Global Market (ADGM). In addition, the Finschia Foundation will collaborate with several enterprises in Abu Dhabi to develop accessible Web3 services for global users based on its public blockchain Finschia.It is reported that the Finschia DLT Foundation was first established in March 2023 by LINE's blockchain subsidiary LINE Tech Plus, dedicated to collaborating with global Web3 users to develop sustainable token models.

ChainCatcher news, according to Ledger Insights, German asset management giant Union Investment has launched a blockchain fund.It is reported that the fund will invest the majority (65%-100%) of its assets in domestic and international stocks related to blockchain, DLT, and digital assets.

ChainCatcher news, according to CoinDesk, the UK's Financial Conduct Authority (FCA) expressed support for a report released by industry experts on Friday regarding the implementation of fund tokenization. The technical working group established by the Treasury's Asset Management Special Task Force stated that companies should ensure their funds are authorized by UK regulators, hold traditional assets, and should be interoperable with future technologies. For companies to successfully launch tokenized funds, regulatory certainty is required. Furthermore, in certain cases, companies wishing to use DLT need to register with the FCA and comply with its Money Laundering Regulations (MLR). The FCA is currently exploring whether it can expedite the MLR application process for companies that have already been authorized.

ChainCatcher news, the decentralized fund distribution platform FundsDLT announced that it has reached an agreement with Standard Chartered Bank, which will use FundsDLT's regulated cloud and blockchain-based transfer agency software to enhance efficiency and transparency, with the initial phase launching in the Middle East and North Africa.It is reported that FundsDLT was established by the Luxembourg Stock Exchange and was acquired by Deutsche Börse Group in August, developing a transfer agency and fund distribution platform. The main advantages of the software are increased efficiency and reduced costs. It allows asset managers, distributors, and client investors to share data in a permissioned manner. Additionally, it supports real-time cash collection.

ChainCatcher news, according to Ledger Insights, the fragmented bond exchange BondbloX, which adopts distributed ledger technology (DLT), has completed a $6 million Series B financing round, with participation from Beacon Venture Capital, the corporate venture capital arm of Kasikorn Bank in Thailand, as well as existing investors Citigroup, MassMutual Ventures, Potato Productions, and Octava.Launched in 2020, BondbloX is a fractional bond exchange regulated in Singapore that uses atomic settlement and distributed ledger technology. BondbloX purchases traditional bonds, which are held by custodians, and then splits these bonds, allowing investors to buy amounts as low as $1,000, with Citigroup serving as its digital custodian.

ChainCatcher news, the Abu Dhabi Global Market (ADGM) Registration Authority (RA) has officially released the "2023 Distributed Ledger Technology (DLT) Foundation Regulations," aimed at providing a comprehensive framework for DLT foundations and decentralized autonomous organizations (DAOs) to operate and issue tokens. This regulatory framework is intended to apply to blockchain foundations, Web3 entities, DAOs, and traditional foundations seeking to enhance operations through DLT.

ChainCatcher news, the Hong Kong Monetary Authority, in collaboration with the Bank of Israel and the Bank for International Settlements Innovation Hub (BISIH) Hong Kong Centre, published the report "Project Sela - A Widely Usable and Secure Retail Central Bank Digital Currency Ecosystem" and participated in the launch event hosted by the Bank of Israel in Tel Aviv.It is reported that Project Sela is the first fintech collaboration project between the Monetary Authority and the Bank of Israel. Project Sela demonstrates the technical feasibility of non-bank payment intermediaries directly connecting to the central bank digital currency ledger through the design structure of retail central bank digital currency, thereby promoting competition and innovation in the digital payment sector. The project established a proof-of-concept prototype using distributed ledger technology (DLT), proving that the design structure can meet stringent cybersecurity, legal, and policy requirements in technical execution.HKMA Vice President Li Dazhi stated, "We are pleased to have successfully completed Project Sela with the Bank of Israel and the BISIH Hong Kong Centre. The project has provided valuable and practical insights into the implementation of retail central bank digital currency in terms of cybersecurity, technology, and policy. Although the HKMA has not decided whether or when to launch the digital Hong Kong dollar, the results of Project Sela are of reference value for our ongoing research. We hope the project can also assist other central banks in evaluating different design structures for retail central bank digital currencies."

ChainCatcher news, Citibank believes that the investments in the digital asset space over the past few years "are now beginning to pay off," but the technology is still in a growth phase. An increasing number of companies are exploring DLT (Distributed Ledger Technology) and digital assets, with this proportion rising from 47% in 2022 to 74% in 2023.A survey found that despite the collapse of crypto companies, the attention and participation in distributed ledger technology and digital assets are growing. More and more companies are exploring this field.Citibank pointed out that there are now billions of dollars in value being managed through DLT. The issue lies in the personnel and processes implementing DLT, rather than the technology itself.The survey found that regulatory uncertainty could hinder future development, especially in North America and Europe. The digital currency sector, including Central Bank Digital Currencies (CBDCs), is growing rapidly. 87% of market participants believe the industry will be "viable" before 2026, up from 72% last year.Overall, the DLT space is growing faster than the cryptocurrency space. About 87% of custodial service providers are working on DLT and digital assets, but only 25% of asset owners have active projects.Citibank believes that DLT and digital assets require changes in processes and a reshaping of systems, and companies must be prepared to make significant investments in this area.

ChainCatcher news, global distributed ledger and blockchain company DLTx ASA announced the acquisition of the U.S. node infrastructure company NachoNodes, including the company's intellectual property and its management and technical teams. The specific acquisition amount has not been disclosed.The management team of NachoNodes includes two core founding members of Pocket Network, who have now officially joined DLTx ASA and will focus on expanding DLTx ASA's node infrastructure and node operations. (Source link)

Chain Catcher News, the cross-enterprise supply chain network (MESCBN) platform #dltledgers announced the completion of a $8.5 million Series B funding round at a valuation of $100 million, with participation from Centrum Capital and Tata Group.It is reported that #dltledgers' MESCBN blockchain platform can streamline the business processes of suppliers and distributors, saving time, effort, and costs in multi-party transactions within the supply chain, and bringing the supply chain market into the Web3 world. Its clients include Mondelez, Tata Motors, ANZ Bank, Shiseido, OCP, and the African Development Bank. (Source link)