Kiffmeister’s FinTech Daily Digest (06/01/2020)

Eastern Caribbean Central Bank Governor Timothy Antoine will moderate a virtual discussion on “Pandemic and Digital Currency” and the possibilities offered by the ECCB’s digital EC currency project tomorrow (June 2) at 2:30 Eastern Time: https://www.eccb-centralbank.org/p/eccb-digital-dialogues

The Failed Hopes of Disintermediation: Crypto-custodian Insolvency, Legal Risks and How to Avoid Them
A Law Faculty of the University of Oxford paper examined the legal risks of depositing crypto-assets with custodians in the event of insolvency, and suggests ways that regulation and legal practice can help to mitigate this risk. However a lack of international standards related to the legal status of crypto-assets, along with the global nature of blockchain-based transactions, can make it hard to determine which laws apply.

Bug in Timelocked Bitcoin Contracts Could Spur Miners to Steal From Each Other
Pseudonymous engineer 0xb10c found more than a million “timelocked” bitcoin transactions made between September 2019 and March 2020 that were not accurately enforced by the network. This increases the risk of a hypothetical form of attack in which miners could essentially steal bitcoin from other miners. The bug affects 10% of timelocked transactions, or 2% of bitcoin transactions overall.

Banca D’Italia will open a facility dedicated to fintech in Milan
Banca D’Italia will soon establish a dedicated unit in Milan tasked with proposing and coordinating fintech initiatives, as well as monitoring retail payment services and instruments. Efforts will remain focused on supporting the development of a broadbased and safe digital economy, providing support for innovative projects promoted by the private sector and ensuring that households, firms and generalgovernment derive the maximum benefit.

Central Bank of Nigeria Guidelines on Operations of Electronic Payment Channels
The Central Bank of Nigeria updated its guidelines on operations of electronic payment channels.

Posted from Diigo: https://www.diigo.com/user/kiffmeister/Fintech