The U.S. Financial Crimes Enforcement Network (FinCEN) views all stablecoins as falling under their remit to protect “money transmission services, Director Kenneth Blanco said.Continue reading “FinCEN: Stablecoin Issuers Are Money Transmitters, No Matter What”
The Monetary Authority of Singapore (MAS), the city-state’s de facto central bank, may soon allow cryptocurrency-based derivatives to be traded on regulated platforms.Continue reading “Singapore Proposes Allowing Bitcoin, Ether Derivatives Trading on Approved Exchanges”
ShapeShift is launching its own token, FOX, doubling down on the exchange’s attempts to further decentralized cryptocurrency trading.Continue reading “ShapeShift Launches Exchange Token, FOX, for Commission-Free Trading”
Financial institutions know how to calculate the risk of serving traditional businesses. But for firms touching cryptocurrency, the math is still fuzzy. The assumption of added regulatory hurdles and money-laundering fears have led to a widespread problem: Your average bank would rather just not deal with it.Continue reading “PayPal Joins $4.2M Round for Crypto Banking Compliance Startup”
Out of dozens of token projects that supposedly aimed to offer financial services like remittances to the unbanked, Bitspark is one of the few still fully operational today.
If Facebook’s Libra project truly aims to serve the globe’s 1.7 billion unbanked, the Hong Kong-based Bitspark might offer some insights.Continue reading “Tiny Crypto Startup Has Lessons for Libra’s ‘Unbanked’ Dreams”
- The research arm of payment card giant Visa has published a paper describing the development of LucidiTEE, a blockchain system for orchestrating sensitive data among multiple parties.
- For example, the paper outlines a system that would allow banks and fintech applications to share data without relying on intermediary data aggregators.
- While Europe has relied on legislation like GDPR to set standards for securely sharing customer data, US banks had to develop agreements with data aggregators.