Banks, wary of the drug dealers and scammers attracted to the anonymity of cryptocurrency, shun many of the firms behind the electronic money, leaving them to turn to shadowy middlemen for payment processing and other financial services.
This ECB paper summarises the outcomes of the analysis of the ECB Crypto-Assets Task Force. It concludes, in the current market, crypto-assets’ risks or potential implications are limited and/or manageable on the basis of the existing regulatory and oversight frameworks.
Bitfinex has reportedly raised $1B worth of US dollars, Bitcoin and Tether with its UNUS SED LEO exchange utility token offering. LEO lies “at the heart of the [Bitfinex parent] iFinex ecosystem” and will be useable for a variety of exchange-based activities.
This study back-tests a marginal cost of production Bitcoin valuation model. The model, which JP Morgan uses for its valuation analysis, seems robust and challenges allegations that bitcoins are essentially worthless.
The process of AML/CFT regulatory compliance involves KYC (know your customer) throughout transaction lifecycles. This post runs through the typical KYC process and compares different crypto exchange approaches.
Posted from Diigo
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Published by kiffmeister
The Kiffmeister is a former Senior Financial Sector Expert at the International Monetary Fund.
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