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Judge P. Kevin Castel of the federal District Court for the Southern District of New York ruled that the temporary injunction he issued on March 24 banning the sale of gram tokens to the general public applied everywhere and not just the United States.
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“Binance could establish themselves as the preferred exchange, defaulting themselves into being the top exchange in the rankings, or use CMC as a funnel to obtain new users,” said CoinMetric’s Nic Carter. “While the move may cause some to question CMC’s ability to remain a neutral data provider, it could potentially be very productive for Binance.”
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Binance has acquired popular data site CoinMarketCap for an undisclosed price. The deal closed March 31, although a verbal agreement had been reached a few months ago.
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“All three experts were broadly supportive of Peirce’s recommendations, recognizing the impasse that exists today and the impact that is having both on the crypto community as well as the “brain-drain” of talented projects moving overseas to a friendlier regulatory climate.”
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Distributed ledger technology could play a major role as financial institutions seek to gain a single, trusted viewpoint of their customer. Know-your-customer utilities based on DLT aim to provide this visibility.
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To help banks help their customers through these trying times, many fintech providers are extending free, discounted, or accelerated deployment offers to financial institutions. This article provides a live and growing list of such firms.
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“Like many, we saw a challenge for non-salaried workers who are currently ineligible for government relief,” says Fronted’s Jamie Campbell. “By using Open Banking, we have been able to quickly develop a simple process that allows non-salaried workers to generate a proof statement which details their past income and the impact of COVID-19”.
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Fintech companies, challenger banks and alternative lenders could soon be joining big banks in distributing U.K. government-backed loans to small and medium-sized businesses hit by the novel coronavirus pandemic.
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“With the current impacts to our economy, we want to make sure there are ways to help local entrepreneurs. Through Kabbage Payments™, any business can sign up to sell gift certificates online, and anyone can purchase them to support participating small businesses. Once registered, businesses can send a custom link to their customers.”
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Worries about the coronavirus and the government’s response are turning people to banknotes. Over the last two weeks, the supply of Federal Reserve banknotes has increased by around $70 billion to $1.876 trillion, a week-to-week increase of 1.75%. This is the fastest weekly increase in cash in circulation since December 1999.
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Finch Capital released a detailed analytical report on the challenges and opportunities that the fintech sector will face during and after the crisis.
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Carrot, the young driver insurance provider that uses black box technology to record driving patterns and reward safer driving, is incentivising thousands of young drivers to continue to leave their cars at home during the coronavirus lockdown.
Kiffmeister’s Fintech Daily Digest 04/02/2020
