-
“The Federal Reserve and Treasury oppose issuing digital currency to ordinary citizens. That burdens the economy, handicaps fiscal policy, and threatens the international status of the dollar.”
-
This study, prepared by the European Parliament sets out recent developments regarding crypto-assets. These relate mainly to the continuing use of crypto-assets for money laundering and terrorist financing, the massive growth of private “tokens” used to raise funds, and to the emergence of stablecoins and central bank digital currencies. The study, furthermore, addresses key regulatory concerns, taking into account these recent developments, and suggests regulatory responses.
-
Technologists building blockchain-based self-sovereign identity (SSI) tools are collaborating on an “immunity passport” to help stop the spread of COVID-19 without compromising the privacy of users.
-
Global payment provider, Mastercard is calling for an increased contactless limit, particularly in the Asia Pacific region, in line with other parts of the world, like the UK, that have already done so. Mastercard has also increased the limit in New Zealand and Australia to $200.
-
With consumers locked away at home and retailers asking customers to pay using contactless cards, the UK government-commissioned Access to Cash Review, along with consumer groups and charities, has raised concerns over the effects on vulnerable members of society.
-
Treasury has released a new lender application for non-bank lenders such as Paypal PYPL and Square to increase the availability of loans. Here is a current list of FinTech companies that can also help you apply for these loans.
-
SNAP program restrictions for online grocery shopping and delivery contribute to public health threats faced by as many as 35 million low-income Americans during the coronavirus. Major sources of groceries, like Amazon and Walmart, offer online grocery shopping for SNAP benefits through a preexisting USDA pilot program, but only in a handful of states. The incomplete access is another example of social inequity and internet divide exposed by the pandemic.
-
London-based money remittance firm WorldRemit has capped transaction fee on its mobile money services across its markets irrespective of the amount a customer is sending. The move, aimed at deepening mobile money usage amidst the outbreak of coronavirus, will see WorldRemit customers pay a flat fee of $0.99 on all transactions effective immediately.
-
The State Bank of Vietnam is is urgently working with relevant ministries to finalise the pilot programme of utilising telephone subscription accounts to make small payments, or mobile money.
-
Since the market carnage on March 12 Bitmex has seen 36% of the trading platform’s bitcoin reserves withdrawn. A few other well-known crypto exchanges have seen cold wallets drained, while other trading platforms have witnessed reserve increases.
-
Tencent and Alibaba filed the most blockchain patent applications in 2019. Out of 5,800 blockchain patent applications filed, Tencent and its affiliates filed for 718 while Alibaba Group filed 470. Overall, about 63% of firms with over 20 blockchain patent filings are based in China. The U.S. follows next.
