Goldman Sachs has started trading non-deliverable Bitcoin forwards with clients, hedging price volatility by buying and selling Bitcoin futures in block trades on the Chicago Mercantile Exchange (CME) using Cumberland DRW as its trading partner.
A U.S. magistrate judge provided more clarification on the ruling last month regarding whether the Securities and Exchange Commission (SEC) may keep its internal documents secret from Ripple. The SEC must produce communications with third parties, including external agencies and market participants, subject to a privilege assertion, but informal intra-agency communications such as emails would not need to be produced.
The Canadian government released the Retail Payment Activities Act (RPAA) under which all payment service providers (PSPs) will have to register and be supervised by the Bank of Canada. Currently, nonbank PSPs like PayPal and Western Union are unregulated, but that will no longer be the case. The RPAA seeks to implement the federal retail payments oversight framework first outlined in a 2017 consultation paper.
The Central Bank of Azerbaijan and VISA signed an agreement on strategic cooperation to expand digital payments in Azerbaijan. The new strategic agreement will accelerate the development of non-cash payments in the Azerbaijani market, the introduction of innovative payment solutions, as well as through mobile devices, as well as the implementation of initiatives to expand financial literacy and inclusiveness.
*For those interested in intra-day updates and news that didn’t make the Daily Digest cut, please check out my Diigo fintech bookmarks: https://www.diigo.com/user/kiffmeister/Fintech