The proposed EU crypto market regulation will raise many compliance obstacles for the next Libra-like project seeking to operate in Europe. In cryptoland, the fall tends to be regulators’ open season. As unprecedented as it’s been, 2020 is no exception to this trend. Tensions are high on both sides of the Atlantic: As markets were […]
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Crypto isn’t inherently good in just its development and proliferation; the community must address the reasons causing financial exclusion. On Sept. 27, Coinbase CEO Brian Armstrong sought to center his employees’ work around the company’s core mission: “to bring economic freedom to people all over the world.” Armstrong argues for a narrow interpretation of Coinbase’s […]
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Stablecoins are taking over the crypto space with increased utility and circulation. What is prompting this growth, and is it a threat to the market? Despite this year’s uncertainty that has plagued the global economy, 2020 will go down as the year of the stablecoins due to the digital sector’s tremendous growth, with new developments […]
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The New York Department of Financial Services found that crypto firms blocked the Twitter hackers’ crypto addresses within 40 minutes. The New York Department of Financial Services, or NYDFS, has released a lengthy report analyzing the impact of July’s high-profile Twitter hack, which resulted in the theft of over $118,000 worth of Bitcoin (BTC). Far beyond the […]
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Power Finance, led by former PwC partner, plans to launch a New Zealand digital dollar stablecoin early next year. New Zealand-based financial services company Power Finance plans to launch what it’s calling a “world-first” digital version of the New Zealand dollar. Set to launch early next year, the digital currency will employ Distributed Ledger Technology. […]
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The Financial Stability Board has warned that global stablecoins could pose systemic risks to the monetary systems of nation-states. The G20’s financial watchdog, the Financial Stability Board (FSB), has published regulatory recommendations opposing the trans-national ambitions of “global stablecoins,” such as Facebook’s Libra project. The FSB’s report offers regulatory recommendations to G20 member states and […]
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A “new wave of retail investors” is waiting to adopt digital assets. Fidelity Digital Assets, the cryptocurrency custody and execution arm of United States financial services giant Fidelity, has claimed in a new report that retail investors will turn their attention to digital currency as they become more familiar with Bitcoin and other crypto offerings […]
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UK media boss and former banker Alexander Lebedev, has revealed he is looking to launch a decentralized finance-powered “bank 2.0.” Alexander Lebedev, the owner of U.K. newspapers Evening Standard and The Independent, along with Russian publication Novaya Gazeta, has spoken glowingly of the potential for cryptocurrency and smart contracts to revolutionize finance. In an extensive […]
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Losses due to crypto scams are on the rise in Belgium. Belgium’s financial watchdog has reported scammers stole up to $12 million from investor in the country using fraudulent ads. In an Oct. 5 warning from the Financial Services and Markets Authority (FSMA), the watchdog estimated that investors in Belgium had lost at least 10 […]
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We’re in the middle of the greatest wealth transfer in human history, with DeFi finally solving the problem of financial inclusion. Programmers have found a way to replace the core service offerings of Wall Street and an army of corporate lawyers with 800 lines of smart contract code. The “De” in DeFi stands for “decentralized,” […]
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