In mid-March 2020, Bitt and the ECCB conducted preliminary testing of the DXCD CBDC applications with select stakeholder groups in St. Kitts and Nevis, Antigua and Barbuda, and Grenada. A full-blown pilot is scheduled to launch in June 2020.
Embedded supervision: How to regulate Libra 2.0 and the token economy
The rise of stablecoins and asset-backed tokens could drive the development of financial markets via new forms of transparency and data credibility. This column uses the revised proposal for the Libra global stablecoin as an example to illustrate possibilities for supervisors to harness information in distributed ledger based-finance via ‘embedded supervision’. The aim is to increase the quality of data available to supervisors and to reduce administrative costs for firms.
The Postal Service should be allowed to deliver low-cost financial services to poor and rural communities
U.S. Senator Kirsten Gillibrand introduced the Postal Banking Act that would grant the U.S. Postal Service (USPS) the power to provide basic financial services, including low-cost small loans, small checking accounts and interest-bearing savings accounts (alone or in partnership with depository institutions), transactional and remittance services, and other basic financial services in the public interest. However, the USPS would not be granted a bank charter, or become an insured depository institution.
The Netherlands’ AMLD5 Interpretation Appears to Be Killing Crypto Firms
The Dutch crypto market is seeing the first of most likely many small crypto exchanges get squeezed out following the passage of its strong anti-money laundering (AMLD5) regulations. Small crypto firms allege that they are a de facto licensing regime whereas AMLD5 calls for mere registration of crypto firms.
Grayscale is buying half of all newly mined Ethereum
Grayscale operates an Ethereum Trust focused on institutional investors. In 2020, it has been building up its Ethereum holdings at a faster rate. It has purchased an amount of Ethereum equivalent to half of the new supply of coins in 2020.
Blockchain-Based ‘Smart’ Warehouse to Improve Customs Clearances
MVC Global and Cox Logistics Group are launching the blockchain-based SmartHub logistics warehouse to improve the distribution of pharmaceuticals across the Gulf Cooperation Council. SmartHub will to speed up and improve storage distribution of food products and medical supplies in the region, and significantly cut the time spent on paperwork, administration and bureaucracy.
Posted from Diigo: https://www.diigo.com/user/kiffmeister/Fintech