Week in Review: 17.09-23.09.2018

Another Weekly Summary is Here.

Dubai Wants to Pay via Blockchain

The Dubai Department of Finance (DoF) has partnered with the Smart Dubai Office (SDO) with the aim of launching a blockchain-based payment system. This information was reported by the local news service Zawya on September 23rd.
The new platform was launched on Sunday, September 23rd. Currently, government entities such as the police, the Roads and Transport Authority (RTA), and the Dubai Health Authority (DHA) can use it.

Russian Banks Show Interest in Blockchain

A group of major Russian banks is interested in investing in and developing the blockchain market. A meeting on this topic took place last week at the Moscow Exchange. The topic caught the attention of the Russian news portal RBC.
The meeting was organized by banks including Sberbank, Alfa-Bank, and VTB.

The group is particularly interested in regulatory issues. They discussed the topic with representatives from the Japanese exchange Bitflyer, the Singaporean platform NCH, and individuals associated with the Litecoin community. Luxembourg’s Minister of Finance, Luc Frieden, was also present.

SEC Still Undecided on ETFs

The American soap opera continues. The U.S. Securities and Exchange Commission (SEC) announced on Thursday that it has not yet made a definitive decision regarding a bitcoin ETF (exchange-traded fund). The application under review was submitted by the derivatives exchange CBOE.
This is the second time the SEC has extended its decision-making process. The first time was in August.

Another Crypto Exchange Hacked

Hackers successfully attacked and looted the Japanese cryptocurrency exchange Zaif. The platform lost funds equivalent to over $59 million. The criminals stole funds from the so-called “hot wallets” and also 2.2 billion yen from the company’s assets.
According to Coinpaprika, Zaif is ranked 101st among the largest cryptocurrency exchanges in terms of volumes.

This is not the first successful cyber attack on a Japanese exchange. Earlier this year, the Coincheck platform lost tokens worth a total of $600 million, setting a notorious record for lost funds in cryptocurrencies.

The text is sourced from the Atlas Bitmarket website.