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Financial Giant Fidelity Pilots Tokenized Employee Rewards Initiative
28.11.2019
Fidelity’s research and development division has completed a proof-of-concept process with security token expert Tokensoft, says the latter’s Head of Operations Lawson Baker in a recent blog post – creating a tokenized rewards system for Fidelity employees.
Fidelity is the fourth largest asset...
Another Bank Run Highlights China’s Brewing Financial Crisis
28.11.2019
A regional lender has become the latest victim of the growing liquidity crunch in the world’s most populous country. Yingkou Coastal Bank, operating in the northeastern Chinese province of Liaoning, is the second institution within less than a month to see its financial stability threatened...
Ant Financial Plans to Raise $1 Billion Fund for New Start-ups
27.11.2019
Alibaba founder Jack Ma, owned Ant Financial, is making plans to attract around $1 billion in investment for a fund aimed at startups in Southeast Asia and India. According to a source, the company looking to invest in startups that are focused on markets in which mobile internet is growing...
South Korean Committee Passes Bill Enforcing FATF Crypto Rules
27.11.2019
South Korea’s national policy committee has passed an amendment establishing a legal framework for cryptocurrencies. It requires crypto exchanges and service providers to register with the country’s financial regulator and comply with the recommendations set by the Financial Action Task...
Don’t Blame China: Why BTC Still Can’t Compete With Fiat
26.11.2019
In the wake of recent price movements, doubts are beginning to crop up more and more around BTC maximalist circles. As focus shifts from Satoshi’s founding vision of the coin as cash to a mere digital gold to be saved and “cashed out” later, valid questions are indeed raised....
French Central Bank Official Wants to Improve Financial System With Blockchain
25.11.2019
The first deputy governor of Banque de France, Denis Beau, has urged the finance industry to experiment with blockchain
A Few Benefits for Bitcoin Beginners to Appreciate
24.11.2019
If you are considering entering the crypto universe or if you’ve only recently made your first investment, you might still be exploring the benefits of bitcoin as opposed to your credit card, online bank account or digital wallet you are used to. In an abstract sense, cryptocurrencies...
US Congress Wrestles With Financial Technologies and Data Privacy
23.11.2019
U.S. Congressional Fintech Task Force questions industry experts on consumer data privacy in financial services
Morocco Plans to Expand Access to Financial Services With Fintech
22.11.2019
Morocco aims to expand access to financial services through the integration of blockchain in the country’s finance sector
HSBC Closes Account Used to Support Hong Kong Protesters
22.11.2019
For months on end, Hong Kong has been the scene of intensive confrontation between pro-democracy activists and its Beijing-supported government. It now seems the financial establishment has taken a side in this conflict. Banking giant HSBC has decided to close an account used to support the protest...
Harvard University Stages ‘Digital Currency Wars’ Crisis Simulation
22.11.2019
Harvard University’s Digital Currency Wars simulation considers a hypothetical future crisis scenario involving a DPRK nuke purchase facilitated by a digital yuan
NY Regulator Licenses Fidelity for Bitcoin Trading and Custody
20.11.2019
Fidelity Investment’s digital currency arm has been licensed by the New York Department of Financial Services to operate a platform on which individuals and institutional investors can store, purchase, sell, and transfer bitcoin. The regulator also revealed that it has to date approved...
Fidelity Digital Assets Gets NY Trust Charter to Custody Bitcoin for Institutions
19.11.2019
The New York Department of Financial Services has granted Fidelity Digital Assets Services (FDAS) a charter to operate as a limited liability trust company to custody digital currencies and execute crypto trading
Chinese Authorities Scrutinize and Report on Crypto Exchanges
19.11.2019
According to a notice issued on weibo.com, and later confirmed as authentic by business publication Caixin, authorities in Shanghai appear to have dispatched officials for conducting reviews of area businesses engaged in cryptocurrency dealings, and are set to report back to financial regulators...
Crypto Debit Card Targets Generation Z With a Promise of Financial Freedom
19.11.2019
From video games to fizzy drinks, teens have their own spending agenda. Raised in the digital age, generation Z also has a special sense of freedom, a product of unrestricted access to the internet and mass availability of new technology. Its members are potential natural adopters...
US to Strictly Enforce Crypto Rules Similar to FATF Guidelines
19.11.2019
The U.S. government will strictly enforce the rules on cryptocurrencies similar to the standards recommended by the Financial Action Task Force (FATF). The Financial Crimes Enforcement Network has reaffirmed that its “Travel” rule applies to cryptocurrencies. Meanwhile, the Federal...
Spanish Financial Watchdog Warns Against Unregulated ICO Scheme
18.11.2019
A Spanish financial watchdog has issued a warning against Ethereum-based token dubbed AlyCoin
Crisis Fears Rise as Global Debt Hits a Record $250 Trillion
18.11.2019
The world’s total liabilities continue to grow rapidly as a new report reveals global debt is now over a record $250 trillion. For many investors and market watchers this raises the specter of another potential major economic crisis triggered by a collapse of the global financial system....
Visa R&D Arm Develops a Blockchain System That Could Replace Financial Data Aggregators
18.11.2019
Visa has been quietly developing a blockchain system that could upend how banks transfer data to consumer financial apps like Mint and Credit Karma
Stablecoins ‘Pose Risk to Financial Stability’ Warns Federal Reserve
16.11.2019
Stablecoins only “complementary” if they obey regulators, suggests Fed