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About 15 countries have plans to work with the FATF to create a new system to collect and share personal data on individuals who conduct cryptocurrency transactions.
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Central banks around the world need to bridge the existing data gap on crypto assets to better contain future financial risks arising from them, according to research published today by the European Central Bank.
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Grayscale Investments has published a case study on how BTC could be used as a hedge against financial instability. The firm used the case of trade tensions between the United States and China to make their point.
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“Dalio believes that in this new era of currency devaluation, cash and bonds will not be reliable stores of value. Historically, scarce real assets such as real estate, gold, commodities and—we’d point out—bitcoin are safe havens for wealth and a source of returns in these environments.”
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If the likes of Western Union or Ria Financial Services, or MoneyGram intend to make a fist of this fight and not get swept away in the Facebook tidal wave, then it’s on them to do something that they probably haven’t had to do in quite some time… Win over their audience.
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An effort by the FBI to more aggressively monitor social media for threats sets up a clash with Facebook’s privacy policies and possibly its attempts to comply with a record $5 billion settlement with the U.S. government reached last month.
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“The U.S. private sector has a long history of providing efficient payment solutions to consumers and businesses. The public sector should provide its own capacity only when the evidence of market failure is clear and alternative means to achieve public goals are not feasible,” Quarles said in a statement. “In this case, I do not see a strong justification for the Federal Reserve to move into this area and crowd out innovation when viable private-sector alternatives are available.”
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The handful of U.S. banks willing to serve the crypto sector includes Silvergate in California and Signature and Metropolitan Commercial in New York. Like those institutions, Quontic is a relative pipsqueak in the banking industry
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Most credit card issuers prohibit crypto purchases by defining them as a “cash advance” or “cash equivalent” possibly as a matter of safety, but also to prevent consumers from gaming the cards’ reward systems.
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Seychelles’ stock exchange has just listed a tokenized security for trading, becoming the first in the world to do so.
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GlobexUS Holdings has signed an MOU with the Antigua and Barbuda Ministry of Finance, in partnership with Julius Capital Bank, to launch an Ethereum platform-based digital securities issuance and secondary trading platform.
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Allianz Global Corporate & Specialty is developing a “token-based” ecosystem, utilizing blockchain, to simplify and accelerate cross-border insurance payments for its corporate customers.
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Cryptocurrency custody firm Prime Trust is strengthening its solution to protect digital assets it holds in custody from potential hacks and thefts. Prime Trust has partnered with Fidelity-backed crypto security firm Fireblocks for the initiative.
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Blockstream has announced two massive data centers for enterprise class co-location services. The service is currently geared towards enterprise and institutional customers, and Fidelity Center for Applied Technology was revealed as an early customer.
