Bank of America leads in the blockchain patent race On October 30, Bank of America (BofA) added yet another cryptocurrency-related patent to its collection of more than 50 applications filed within the same field. The second-largest bank in the US has been leading in the informal blockchain patent race, sidestepping such players as IBM and […]
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Bank of America has gained over 50 blockchain-based patents so far in what executives say is a plan to “be prepared.” Bank of America (BoA) has gained a further cryptocurrency-related patent, a filing confirmed Oct. 30, continuing its efforts to “be prepared” for the industry’s future growth. The latest award, which adds to the […]
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Bank of America Merrill Lynch (BofA Merrill) is introducing a new solution for other financial institutions (FIs) in the interbank payment system to automate foreign exchange (FX) conversion. The new solution, AutoFX, aims to make it easier for smaller banks to streamline cross-border payments for their customers by automating foreign exchange conversion before the transaction occurs, […]
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Data from the Commerce Department Friday (October 26) show an initial reading of GDP growth for the third quarter at 3.5 percent annualized, boosted by consumer spending. Though the latest headline number represents a slowdown from the second quarter’s 4.2 percent growth rate, that slowdown had been expected. In addition, the 3.5 percent showing was […]
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What is a ‘subnet’ and how the financial services giant is going to partition a blockchain. On October 9, American financial services giant Mastercard was granted a patent for a method to partition a blockchain so that it can store multiple transaction types and formats. The filing published by the U.S. Patent and Trademark Office […]
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Swiss-based asset management firm Tiberius Group AG has delayed the issue of its metals-backed token Tiberius Coin due to high fees from credit card companies. Switzerland-based commodities assets manager Tiberius Group AG has delayed the sale of its metals-backed cryptocurrency, Tiberius Coin, due to high fees from credit card companies, Bloomberg reported Oct. 9. The […]
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The Commodity Futures Trading Commission (CFTC) reported an increase in enforcement actions in the last fiscal year, partly due to a rise in cryptocurrency cases and spoofing schemes. According to The Wall Street Journal, the federal derivatives-market regulator also handed out around $900 million in penalties, higher than the amount in five of the eight […]
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The Wall Street Journal creates, then gets rid of, its own cryptocurrency and the Petro may be ready for public sale in November. Coming every Sunday, the Hodler’s Digest will help you to track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, […]
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At a recent event in Minneapolis, CFTC chairman Christopher Giancarlo noted increased enforcement actions last year, partly due to fraudulent crypto cases Christopher Giancarlo, the chairman of U.S. Commodity Futures Trading Commission (СFTC), said in an Oct. 2 speech that enforcement actions and fines increased significantly in the last fiscal year. Giancarlo presented at the […]
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The adoption of blockchain technology by tech firms, including Microsoft and Amazon, will become a multi-billion dollar opportunity, according to estimates by the Bank of America. The forecast was based on the assumption that 2 percent of servers (at $5.5K per server) will one day run on blockchain. On this basis, the bank estimates that […]
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