Kiffmeister’s Fintech Daily Digest (05/02/2020)

Bitfinex, Tether Seek Subpoenas Across US in Hunt for Missing $800M
Bitfinex is making a new push to find and potentially recover more than $800 million in user funds seized by legal authorities in four different countries after its payment processor’s bank accounts were frozen. The funds were seized by authorities pursuing anti-money laundering criminal charges against Crypto Capital.

Cayman Islands Proposes New Legislation to Regulate Crypto Firms
The legislative assembly of the Cayman Islands has introduced five new pieces of legislation that may be used to regulate local firms dealing in cryptocurrencies. The proposed rules have mainly been created to monitor the operations of digital asset exchanges.

Facebook’s Calibra Team Introduces A Novel Distributed Audit Protocol
Calibra published a paper on a novel distributed auditing proofs of liabilities (DAPOL) protocol designed to introduce additional optimization and enhanced privacy to existing distributed audit procedures. It allows entities to undergo a distributed audit of their liabilities and it works in any situation where an entity does not have a motivation to overstate its liabilities.

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