March 17, 2017    1 minute read

First US Watchdog in Blockchain Consortium

   March 17, 2017    1 minute read

First US Watchdog in Blockchain Consortium

An Illinois regulator has decided to join the consortium led by R3, as global regulators get more serious with the emerging tech.

Editor’s Remarks: Though the Illinois Department of Financial and Professional Regulation is just one fish in the fragmented sea of American state and federal financial regulators, its decision to join R3’s 80 other financial institutions is a major first step for the world’s biggest financial industry in getting to grips with the opportunities and risks of blockchain, the software platform behind bitcoin. The US is somewhat late to the party given that it’s already hosting the Bank of Canada and Hong Kong’s Securities & Futures Commission, among others – but a domino effect drawing in other regulators would mean a chain reaction of big capital for the startup developing blockchain’s role in the financial system.

What to watch: R3, Corda, David Rutter, Illinois Blockchain Initiative, Shenzhen Blockchain Financial Services

Get articles like this straight to your inbox each morning with our Breakfast Briefing. Sign up by clicking here!

Log in with your details

or    

Forgot your details?

Create Account

Send this to a friend