China is reportedly looking into the application of blockchain to cross-border financing, with particular attention devoted to risk management applications. China is looking into the application of blockchain and Artificial Intelligence (AI) to cross-border financing, Reuters reports on Oct. 27. Blockchain in risk management Lu Lei, the deputy head of the Chinese regulator State Administration […]
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What’s the right approach to privacy that will allow crypto to best navigate regulation? Bitcoin (BTC) and cryptocurrencies are causing some confusion for regulators globally. Designed usually as peer-to-peer payment platforms, cryptocurrencies seek to improve trust, security and privacy by significantly reducing or eliminating third parties. However, by connecting users directly, cryptocurrencies make regulatory oversight […]
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In a historic appearance before a U.S. House committee, the Facebook CEO didn’t say too much new about Libra. On Oct. 23, Mark Zuckerberg, founder and CEO of social media platform Facebook, appeared before the U.S. House Financial Services Committee to testify on the prospective global cryptocurrency Libra, which his company is backing. He ended […]
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CFTC chairman Heath Tarbert announced that LabCFTC will now operate independently from the agency and will be reporting to him directly. The United States Commodity Futures Trading Commission (CFTC) gives its fintech research unit LabCFTC status as an independent operating office. Blockchain and digital assets are an important part of development Established by the CFTC […]
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U.S. Congressman Patrick McHenry, who represents North Carolina’s 10th District, says he wants regulators’ default reaction to crypto innovation to be “yes.” U.S. Congressman Patrick McHenry, who represents North Carolina’s 10th District, says he wants regulators’ default reaction to crypto innovation to be “yes.” The Congressman — who goes by the moniker of “Mr. Fintech” […]
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Bank of Lithuania has selected IBM and IT services firm Tieto as the finalists for its blockchain platform dubbed LBChain. Lithuania’s central bank, Bank of Lithuania, has selected technology behemoth IBM and IT services firm Tieto as the finalists contending to develop its blockchain platform. Financial technology news outlet FintechFutures reported on the contest’s developments […]
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Swiss crypto broker Bitcoin Suisse has purchased a minority stake of CoinRoutes Inc., a provider of pan-exchange smart order routing and algorithmic trading software. Swiss crypto broker Bitcoin Suisse has purchased a minority stake of CoinRoutes Inc., a provider of pan-exchange smart order routing and algorithmic trading software. The investment and a new director Bitcoin […]
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Overstock’s venture capital arm Medici Ventures joins $31 million funding round for California-based software company in the financial industry. Overstock’s venture capital arm Medici Ventures invests in PeerNova, a startup that develops blockchain-based solutions for financial institutions to synchronize their data across multiple systems. In an Oct. 22 press release, PeerNova reported that it had […]
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The German Federal Ministry of Finance has expressed concerns about using privacy tokens due to their association with criminal activities and difficulties to track them down. The German Federal Ministry of Finance has expressed concerns about rising use of privacy tokens due to their association with criminal activities and difficulties in tracking them. Published on […]
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FinCEN Director Kenneth Blanco says that the agency expects fintech firms that provide anonymous services to comply with Anti-Money Laundering standards. The United States Financial Crimes Enforcement Network (FinCEN) Director Kenneth Blanco spoke at the University of Georgetown where he made it clear that Anti-Money Laundering (AML) laws apply to everyone. On Oct. 21, banking […]
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