Russia is taking the lead in issuing a multinational stablecoin backed by commodities with the Eurasian Economic Union, or EAEU, and BRICS countries. Russian President Vladimir Putin is the most influential person in the blockchain industry, according to Changpeng Zhao, the CEO of major cryptocurrency exchange Binance, which added five trading pairs: Binance Coin (BNB), […]
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The oil industry is facing some big challenges, and experts think blockchain could be the solution. Oil is central to the growth of the global economy and maintenance of political stability. But for an industry that plays such an important role in both shaping and maintaining the world around us, its business model is quickly […]
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Wells Fargo’s investment branch added $5 million to Elliptic’s Series B round, which will help fuel Asian expansion and the development of a compliance solution for banks. Wells Fargo Strategic Capital, the venture arm of the fourth-largest bank in the U.S., is contributing $5 million to Elliptic’s Series B funding round. According to a Feb. […]
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The Depository Trust & Clearing Corporation, a global financial market infrastructure giant, says traditional IT security frameworks must be updated to tackle the blockchain. The Depository Trust & Clearing Corporation (DTCC), a global financial market infrastructure giant, says traditional IT security frameworks must be updated to tackle the blockchain. An official press release on Feb. […]
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Tether is teaming up with Chainalysis to track potential criminal activity on its network, as worldwide regulators push for stronger stablecoin scrutiny. Chainalysis is rolling out a global compliance solution for Tether (USDT), a Feb. 12 press release announced. The stablecoin’s issuer is now able to identify “high risk” transactions occurring on its network. The […]
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The National Bank of Egypt has signed a cooperation agreement with Ripple to establish new channels for inward remittances. Another major financial institution has partnered with blockchain-based payments firm Ripple. The National Bank of Egypt has signed a cooperation agreement with Ripple to establish new channels for inward remittances, according to a Feb. 11 report […]
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So far, 2020 has been a year of cryptocurrency regulation… Now, Australia has unveiled its five-year blockchain strategy. So far, 2020 has been a year of cryptocurrency regulation: The European Union, the United Kingdom and Singapore have officially introduced their approaches to the burgeoning industry. Now, Australia has published its national roadmap, hoping to become […]
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UK regulator FCA has suspended ePayments operations due to anti-money-laundering controls, freezing a million accounts. EPayments Systems Ltd, a United Kingdom-authorized electronic money institution, must suspend online payment operations due to the Financial Conduct Authority’s anti-money-laundering (AML) procedures. EPayments has released a short statement on its website and has sent out emails to its customers […]
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An increase in crypto crime brings total direct losses to $4.5 billion, but legacy banks are yet to feel the pain. The nature of cryptocurrency fraud is shifting away from exchange hacks, and toward Ponzi-style frauds, pyramid schemes and exit scams. A massive 533% rise in the value of such crimes means that as misappropriated […]
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Thickening regulations may drive crypto firms out of the EU, the rest will have to comply with “unclear and fragmented” laws for benefits in the long run. The European Union lately has been a hotbed for political and regulatory developments that could have a considerable impact on the day-to-day operations of the continent’s financial service […]
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