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Binance Customer Data Has Leaked: What We Know and What We Don’t
Binance is investigating into the alleged leak of its customers’ verification information. The leak could affect up to 60,000 individual users who sent KYC information to the company in 2018 and 2019.
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Bitcoin now the world’s 11th largest money supply
With a market capitalization of just over $200 billion, Bitcoin is now larger than the money supply of South Korea, Australia, Canada, and Brazil. According to statistics it could soon enter the top ten outpacing Russia and India.
tags: Fintech CryptoAssets Bitcoin
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Hedging U.S.-China Trade Tensions with Bitcoin
The report looks into Bitcoin market action in the wake of five macroeconomic developments, including the escalating U.S.-China trade tensions as well as how Bitcoin may perform over the course of both normal economic cycles and liquidity crises.
tags: CryptoAssets Fintech Bitcoin
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MAS Launches Sandbox Express for Faster Market Testing of Innovative Financial Services
The Monetary Authority of Singapore (MAS) today launched Sandbox Express to provide firms with a faster option to test innovative financial products and services in the market.
tags: Regulation Sandboxes Fintech
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Fed aims for 24/7 instant payment system in US
The US has several private real-time networks offered by payments providers and big banks. But the Fed says these alternatives have important limitations, like the lack of a universal infrastructure. “Most of these services rely on ‘closed-loop’ approaches, meaning that users signed up to one service cannot exchange payments with users signed up to other services,” the Fed statement noted.
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Ms. Brainard says the Fed must develop its own system because “no single private-sector provider of any U.S. payment system has ever achieved nationwide reach on its own.” Perhaps that is because the Fed has undercut private systems with its regulatory and infrastructure advantage, as the Government Accountability Office reported in 2016.
Kiffmeister’s Fintech Daily Digest 08/07/2019
