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Welcome to the DTI Foundation’s latest Update. Our aim is to share news on DTIF initiatives, statistics, regulatory updates and recent publications impacting digital asset markets.  

 

DTI Foundation initiatives

 

BIS Innovation Hub and Bank of England leverage DTIs to monitor stablecoin risks

 

Project Pyxtrial, a joint initiative between the Bank for International Settlements (BIS) Innovation Hub and the Bank of England, explores how technology can enable the monitoring of asset-backed stablecoins.

 

Pyxtrial employed DTIs to address the challenge of accurate monitoring of specific stablecoin tokens across multiple ledger implementations. The DTI reflects the complexity of tokens tied to the underlying DLT infrastructure and aggregates them at the stablecoin level through the Functionally Fungible Group (FFG) DTI. See the DTI announcement here.

 

ANNA-DTIF Task Force Updates DTI-ISIN Guide with New Criteria for FFG Allocation

 

The ANNA-DTIF Task Force, in collaboration with industry stakeholders, has released an updated version of the DTI-ISIN Guide. This latest update focuses on revising the criteria for the allocation of DTI Functionally Fungible Groups (FFGs) and their relationship to XT ISINs, aiming to enhance clarity and consistency in the identification process. See the guide and more information here.

 

DTI Foundation responds to US IRS request for comment on crypto tax form 1099-DA

 

The DTI Foundation responded to the US Internal Revenue Service’s request for comment on its draft version of Form 1099-DA for Digital Asset Proceeds From Broker Transactions. The response highlighted the benefits of leveraging the ISO DTI standard to unambiguously identify digital assets. See the full response here.

 

UAT API now available for DTI Registry connectivity testing

 

The UAT API for testing connectivity to the DTI Registry is now available. Users can sign up and read documentation here.

 

ANNA and DTI Foundation shortlisted in Data Management Insight Awards 2024

 

The Association of National Numbering Agencies (ANNA) and DTI Foundation are pleased to announce we have been shortlisted in the Data Management Insight, from A-Team Group Awards Europe 2024, for Best Data Solution for Digital Assets. Give your support by following the link below to vote!

 

https://www.surveymonkey.com/r/9Y53756

 

DTI Foundation resources

 

September DTI statistics

 

The total number of DTIs assigned is 2,554. Breakdown of DTIs:

 

  • 2,178 Auxiliary digital tokens
  • 210 Native digital tokens & ledgers
  • 166 Functionally fungible group tokens

 

Events

 

We are excited to announce that the DTI Foundation and the Association of National Numbering Agencies (ANNA) are partnering up for speaking at several crypto and digital asset events in 2024. Don’t miss these opportunities to expand your knowledge and network with industry leaders. See further details in the links below.

 

European Blockchain Convention, 25-26 September, Barcelona

ICMA FinTech Forum, 18 September, London

Digital Assets Week London, 2-3 October, London

Digital Assets Week: Singapore, 14-15 November, Singapore

 

Relevant news and publications

 

1 September 2024: Qatar Financial Centre Authority (QFCA) and Qatar Financial Centre Regulatory Authority (QFCRA) announced the launch of the QFC Digital Assets Framework for the creation and regulation of digital assets in the QFC.

 

28 August 2024: BCBS published its working paper on novel risks, mitigants and uncertainties with permissionless distributed ledger technologies.

 

28 August 2024: HKMA announced the launch of the Project Ensemble Sandbox and introduced four main themes of asset tokenisation use cases for the initial round of experimentation.

 

28 August 2024: Australian Federal Police published an alert for Australians to be aware of common cryptocurrency investment scam tactics for Scams Awareness Week 

 

26 August 2024: New Zealand Inland Revenue in a taxation policy document announced it will implement the OECD Crypto-Asset Reporting Framework, with proposed amendments to take effect on 1 April 2026.

 

23 August 2024: ASIC announced the Australian Federal Court ruled in favour that Kraken crypto exchange failed to comply with design and distribution obligations when offering a margin trading product to Australian customers.

 

20 August 2024: Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) published its consultation on the proposed introduction of a specific regulatory framework for the issuance of fiat-referenced tokens. Deadline for consultation is 3 October 2024.

 

15 August 2024: IMF published a blog on carbon emissions from AI and crypto alongside the impact of policy incentives.

 

14 August 2024: ASIC commenced proceedings in Australia’s Federal Court against ASX limited for misleading public statements in the progress of replacing its clearing and settlement services system.

 

9 August 2024: US Internal Revenue Service posted an early draft of the updated Form 1099-DA to report certain sale and exchange transactions of digital assets that take place beginning in calendar year 2025. 

 

9 August 2024: Thailand SEC launched its digital asset regulatory sandbox to support the testing of innovative services.

 

7 August 2024: UK FCA published its review of crypto firms’ compliance with certain financial promotion rules aimed to protect investors. 

 

2 August 2024: AMF announced it started accepting applications for authorisation as a crypto-asset service provider from from 1 July 2024.

 

1 August 2024: ESMA published its working paper on Decentralised Finance: A categorisation of smart contracts.

 

31 July 2024: ESMA published its opinion to address the risks presented by global crypto firms seeking authorisation under MiCA Regulation for part of their activities (crypto brokerage) while keeping a substantial part of their group activities (intra-group execution venues) outside EU regulatory scope.

 

30 July 2024: The Bahamas Securities Commission announced the Digital Assets and Registered Exchanges Act, 2024 (DARE 2024) was passed into law by Parliament.

 

26 July 2024: FINMA published its guidance on the issuance of stablecoins.

 

26 July 2024: MAS  published its revised guidelines setting out set out eligibility criteria and application procedures licensing for payment service providers.

 

25 July 2024: Republic of Slovenia issued its inaugural digital bond (ISIN: FR001400RCN2, DTI: 1RRF03503) with the nominal size of EUR 30 million, coupon of 3.65% and final maturity date due 25 November 2024.

 

 

About the DTI Foundation

 

The Digital Token Identifier (DTI) Foundation is the Registration Authority for the International Organization for Standardization (ISO) 24165 Digital Token Identifier (DTI) standard, an ISO standard that enables the unique identification of all fungible digital assets which use distributed ledger technology for token issuance, storage, exchange, a record of ownership, or transaction validation.

 

The DTI Foundation’s mission is to provide the golden source reference data for the unique identification of digital tokens. As its mandate, the DTI Foundation issues and maintains DTIs on a non-profit basis, to increase transparency in the digital asset space by creating a core reference data set based on open data principles and made available as a public good. 

 

 

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© Digital Token Identifier (DTI) Foundation 2024. All rights reserved. This document is provided for information purposes only and should not be relied upon as legal, financial, or other professional advice. While the information contained herein is taken from sources believed to be reliable, DTI Foundation does not represent or warrant that it is accurate or complete and neither DTI Foundation nor its employees shall have any liability arising from or relating to the use of this publication or its contents.