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The U.S. Senate Banking Committee wrote an open letter to Facebook CEO Mark Zuckerberg, asking him to share details about its secret cryptocurrency project, with a particular focus on consumer privacy.
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The US House of Representatives Financial Services Committee has formed a Task Force on Financial Technology to “examine the current legal framework for fintech, how fintech is used in lending and how consumers engage with fintech.”tags: Fintech Regulation
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CipherTrace found that losses due to cryptocurrency thefts, scams and fraud tally more than $1.2 billion in A1 2019. This includes $356 million stolen from exchanges and the loss of $850 million by major exchange Bitfinex
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Crescent Crypto Index Services has filed a prospectus for a new crypto-based ETF with the U.S. SEC. that will track the performance of a market capitalization-weighted portfolio of bitcoin and ether.
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The Bank of Thailand and its private-sector partners have developed their first prototype for a blockchain-based system to enable digital currency for interbank settlements between the BoT and eight commercial banks.
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Fluidity is launching ethereum-powered mortgages in California and New York. The mortgages will be recorded via smart contracts, while using cryptocurrency for back-end management.
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Figure Technologies has closed a $1 billion uncommitted line of credit on a blockchain with investment bank Jefferies, which may periodically lend to Figure under a variable funding note secured by Figure’s home equity lines.tags: Fintech Blockchain
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In April, the GFIN global sandbox jointly run by 35 international regulators accepted its first eight firms into the program. The UK FCA said 44 applications were submitted. The eight successful firms will now develop plans for their cross-border trials, before being allowed to undertake tests. The firms that have successfully entered the testing stage will be announced in June.
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Germany plans to introduce draft regulations allowing blockchain bonds as soon as this summer, local daily business news outlet Handelsblatt reported May 9.tags: Fintech Blockchain
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Why do Ripple platform users still prefer to use xCurrent instead of the newer xRapid option? Only ten of the over two hundred financial institutions that are members of RippleNet are presently using XRP payment options.
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MakerDAO emerged as a clear market leader in part for its rock-bottom interest rates of 0.5 percent, which are a technological necessity for keeping its DAI stablecoin worth $1. With interest rates rising to 19.5 percent, some early borrowers are angry.
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Sci fi and courtroom drama legend William Shatner has announced a partnership with London legaltech firm Mattereum to document the authenticity of memorabilia and collectibles, on the blockchain.tags: Fintech Blockchain
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Binance this time decided not to make the deal with miners. And as time goes on, the attack becomes harder. But all it took was a private phone call. The majority hashpower lies under control of a handful of men. They can collude and reverse the chain.
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For Latin Americans living abroad sending money back home via traditional banking methods and money transfer operators can be a complicated and costly ordeal. More cost-effective approaches rely on using fintech, like mobile banking, according to a recent IMF working paper.tags: Fintech CrossBorder
