June 25, 2019 @ 1:29 am By Cali Haan  |  

Reserve Bank of Australia chief Philip Lowe told participants in a Q&A session June 20th that he does not expect Facebook’s new Libra cryptocurrency network to be fully implemented any time soon. “There’s a lot of water under the bridge before Facebook’s proposal becomes something… Read More

 Tagged australia, facebook, libra, philip lowe, reserve bank of australia

June 24, 2019 @ 9:27 pm By Cali Haan  |  

Last week’s announcement of “Libra,” Facebook’s move into creating a cryptocurrency payments infrastructure to underpin its social network, was met with considerable fanfare and may have induced a rally in the price of Bitcoins. But several pundits on Yahoo have noted that so far, banks… Read More

 Tagged banking, facebook, libra, stablecoin

June 24, 2019 @ 8:30 pm By JD Alois  |  

TrustToken is issuing a stablecoin backed by Hong Kong dollars. TrustToken says this is the first stablecoin pegged to an Asian currency. TrueHKD will be pegged one-to-to one with the Hong Kong dollar that is currently worth about USD $0.13. TrustToken has partnered with Legacy… Read More

 Tagged hong kong, jai an, legacy trust, truehkd, trusttoken, vincent chok

June 24, 2019 @ 4:14 pm By JD Alois  |  

Patrick McDonnell (46), aka “Jason Flack,” has copped a plea of a single fraud charge in an ongoing case of cryptocurrency fraud.  McDonnell was indicted last March. McDonnell operator of CabbageTech, a company that was doing business as Coin Drop Markets, faces up to 20… Read More

 Tagged cabbagetech, coin drop markets, fraud, patrick mcdonnell

June 24, 2019 @ 3:34 pm By Cali Haan  |  

Facebook announced it’s forthcoming price-stabilized cryptocurrency, “Libra,” last week, and many politicians across the globe have been sounding the alarm on it. A number of American politicians issued sober warnings regarding the advent of Libra. US Senator Sherrod Brown warned that Facebook’s new payment system would… Read More

 Tagged facebook, libra, stephen moore

June 24, 2019 @ 12:35 pm By JD Alois  |  

Later this week the V20 conference will take place alongside the bi-annual G20 event being hosted in Japan. The G20 is, of course, the global powwow of 19 leading nations plus the EU. While mostly a lot of hobnobbing and back-room policy wrangling, while in… Read More

 Tagged g20, japan, ronald tucker, v20, vasps, virtual asset service providers

June 24, 2019 @ 10:20 am By JD Alois  |  

Last week, FATF President Marshall Billingslea of the US, chaired the Plenary meeting under the U.S. Presidency in Orlando.  US Secretary of Treasury Steven T. Mnuchin was on hand to provide remarks on the accomplishments of the group. As part of his speech at the… Read More

 Tagged fatf, steven mnuchin, vasps, virtual asset service provider

June 24, 2019 @ 7:43 am By JD Alois  |  

Bitbond, a Germany-based global online lending platform that is in the process of issuing one of the first security tokens, says guidelines issued by FATF impacting “virtual asset service providers” or VASPs – has gone too far. Bitbond, licensed by BaFin, is in the midst… Read More

 Tagged bitbond, fatf, financial action task force, g20, germany, radoslav albrecht, v20

June 23, 2019 @ 8:29 pm By Cali Haan  |  

A Senior Analyst on Greenwich Associates’ Market Structure and Technology Team has produced a whitepaper and participated in a series of videos that challenge “DLT maximalist” claims that distributed ledger technology (DLT or “blockchain”) can effectively replace the roles played by central clearinghouses in securities settlement…. Read More

 Tagged dtcc, greenwich associates, ken monahan, michael mcClain

June 22, 2019 @ 12:00 pm By Cali Haan  |  

Fiduciary and operational incompetence have been a matter of record since news emerged that Gerald Cotten, CEO of the Canadian cryptocurrency trading platform QuadrigaCX, died without giving anyone password access to $215 million CAD of user cryptocurrencies he ostensibly kept in cold wallet storage devices…. Read More

 Tagged exchange, ey, fraud, gerald cotten, quadrigacx