In a livestream on Periscope, Changpeng Zhao, CEO of the crypto exchange Binance, said that the exchange will launch its own blockchain in the next week or two. The forthcoming blockchain, Binance Chain, will be used to power Binance's decentralized exchange. Zhao said that binance coin will be migrated off of Ethereum and will no longer be ERC-20 compliant. He also said Binance Chain will be similar to NEO and Ripple in that it will operate with a small number of large nodes.
The Financial Crimes Enforcement Network (FinCEN) has assessed a civil money penalty against a peer-to-peer bitcoin trader for violating anti-money laundering (AML) regulations, its first enforcement action against a cryptocurrency exchanger. According to the agency, the exchanger failed to register as a money services business and failed to report "suspicious transactions," among other violations. The exchanger has been assessed a $35,000 fine and is now prohibited from providing money transmission services.
The Enterprise Ethereum Alliance has announced a "Token Taxonomy Initiative" to develop universal definitions for tokens to encourage their interchangeability across blockchain platforms. Members of the initiative include Microsoft, R3, ConsenSys, IBM, EY, Accenture and Intel.
Gemini Trust, a New York-based cryptocurrency exchange, has announced support for Segregated Witness (SegWit) addresses and transaction batching. As a result, customers can now use SegWit addresses for bitcoin deposits and withdrawals, ideally improving processing times and lowering bitcoin withdrawal fees.