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The SEC will keep assessing the Wiltshire Phoenix ETF proposal, which was initially filed earlier this summer, giving February 26, 2020, as its decision date to reject or approve the ETF proposal.
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Blockchain company Hedera Hashgraph has urged the investors of its tokens to wait longer for the delivery as the price of the tokens plunged significantly. However, the company is not slapping the decision to the investors of the token.
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This year, the Financial Action Task Force (FATF) issued strict new global standards for crypto assets. In 2020, the guidance will begin to come into force, while in January the EU’s Fifth Anti-Money Laundering Directive (AMLD5) kicks in. The upshot of this is more Know Your Customer (KYC) enforcement, stricter controls on buying and selling cryptocurrency, and increased compliance. Bad news for bitcoiners, in other words, who value their privacy.
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The ESCB’s EUROchain research network (with the support of Accenture and R3) uses distributed ledger technology. Based on the R3’s Corda platform, the project is a study on how privacy can be balanced with compliance procedures, like anti-money laundering rules, while DLT helps drive down the cost of transactions.
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Digital technologies have begun to transform the payments and banking systems, but the final impact of the change is far from determined. However, faster payments are here to stay, and the new payments technologies will disrupt legacy deposit and payments franchises. The level of disruption on incumbents will depend on the structure of their legacy business and on their response in adopting the new technologies.
