Blockchain Daily Digest – January 29th, 2020

1.   Singapore Payment Services Act Now in Effect For Crypto Firms

Cryptocurrency firms in Singapore must now operate in compliance with the Payment Services Act which came into effect on Jan. 28. The new legislation requires cryptocurrency providers and exchanges to be licensed under some of the same regulatory elements as traditional financial service providers.

2.   Standard Chartered Invests in R3-backed Blockchain Firm For Letter Of Credit Services

Standard Chartered has invested in Contour, a blockchain-based firm focused on digitalized letter-of-credit (LoC) services. Contour is built on R3’s Corda blockchain, and the project will be led by R3’s Asia chief Carl Wegner.

3.   Cardano EUTXO Blockchain Upgrade Will Combine the Best Of Bitcoin and Ethereum

Cardano (ADA) have released a detailed outline of how it will implement its smart contracts using the extended UTXO model. The file was shared on founder Charles Hoskinson’s Twitter feed on Jan. 27^th.

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