Tagged: digital currencies

December 19, 2020 @ 12:29 pm By Omar Faridi  |  

On December 18, 2020, the Financial Crimes Enforcement Network (FinCEN) published a proposed rule change for digital currency transactions with “unhosted” wallets. Under the newly proposed change, banking institutions, and money services businesses (MSBs) may be required to verify customers’ identities and turn in reports… Read More

December 17, 2020 @ 7:53 am By Samantha Hurst  |  

  Paxos, a blockchain infrastructure platform, today announced it has closed a $142 million Series C round of funding. Declaration Partners, the investment firm backed by the family office of David M. Rubenstein, led the round, with participation from Mithril Capital, PayPal Ventures, RIT Capital Partners plc, Ken Moelis, Alua Capital,… Read More

December 13, 2020 @ 8:24 pm By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) has issued “Three Wise Warnings” for the nation’s consumers. The financial regulator has cautioned that customers should look out for loan fee fraud this Christmas or holiday season. The FCA notes that if you’ve been asked to pay some… Read More

December 12, 2020 @ 12:05 pm By Omar Faridi  |  

Blockchain security firm CipherTrace reports that only 22% of banking industry professionals and financial investigators “feel confident” in their ability to accurately identify cryptocurrency -related payments. In a December 9, 2020, CipherTrace-ACFCS Webinar on “How Cryptocurrency Intelligence Tipped the Scales in 2020 Sanctions Evasion,” more… Read More

December 7, 2020 @ 7:27 am By Omar Faridi  |  

China is reportedly handing out around $3 million of digital yuan as JD.com notably becomes the first online platform to begin accepting the virtual currency. As first reported by CNBC, Chinese digital commerce company JD.com confirmed that it will become the first major online platform… Read More

December 5, 2020 @ 4:11 pm By Omar Faridi  |  

Blockchain analysis firm Chainalysis notes that global darknet markets have long “fascinated” the general public, beginning with the infamous Silk Road, which represented around 20% of all Bitcoin (BTC) related activity during its “heyday” back in 2013. But since that time, these illicit activities account… Read More

November 24, 2020 @ 7:48 am By Omar Faridi  |  

Capgemini has released a new report titled, Payments – Top Trends 2021: Drivers, Opportunities, and Risks Shaping Financial Services. While highlighting key Fintech trends in the payments sector, the extensive report noted that Payments-as-a-Service has gained significant “traction” among small- and mid-tier institutions. It added… Read More

November 13, 2020 @ 8:54 am By Omar Faridi  |  

Chainalysis, a leading blockchain analysis firm, has introduced an asset realization program to assist government departments and insolvency practitioners with handling, storing, “realizing,” and monitoring seized assets. As mentioned in a blog post by Chainalysis, this announcement has come soon after the largest ever seizure… Read More

November 10, 2020 @ 7:29 pm By Omar Faridi  |  

Cypherium, an enterprise-focused distributed ledger tech (DLT) platform that aims to facilitate interoperability between blockchains and central bank digital currencies (CBDCs), has launched its mainnet. The Cypherium main network launch has come after the project raised $28 million in capital which includes $4 million from… Read More

November 9, 2020 @ 8:34 am By Omar Faridi  |  

The COVID-19 pandemic has created many different socioeconomic challenges. It has definitely been a really tough year for the travel and tourism industry as most people were forced to cancel their travelling plans and stay at home (to prevent the further spread of the virus)…. Read More

November 7, 2020 @ 12:10 pm By Omar Faridi  |  

  We recently connected with Dave Hodgson, Chief Investment Officer at NEM Group and Managing Director NEM Ventures. NEM (XEM) is a major blockchain or distributed ledger technology (DLT) based platform for building and deploying decentralized applications (dApps). Hodgson’s role encompasses group investment management, jurisdictional… Read More

October 27, 2020 @ 8:13 am By Omar Faridi  |  

A report published by Global Digital Finance notes that during the past 18 months, the developments related to central bank digital currencies (CBDC) have “accelerated dramatically.” CBDC projects have gone from the research stage to formulating key policy requirements. Countries like China have even introduced… Read More

October 23, 2020 @ 8:32 am By Omar Faridi  |  

Ledger Vault, a cold or offline storage solution provider for digital assets, has reportedly been chosen by France’s Societe Generale-Forge to offer security solutions for its central bank digital currency (CBDCs) project. As noted by the Ledger Vault team, Societe Generale-Forge, the digital capital markets… Read More

October 20, 2020 @ 10:41 pm By Omar Faridi  |  

Sky Guo, a founding member of OMFIF, an independent forum for central banking, economic policy and public investment, has reportedly been invited by the United Nations (UN) to talk about how foreign policy experts can take advantage of the latest digital technologies to address the… Read More

October 20, 2020 @ 10:01 pm By Omar Faridi  |  

Dr. Ahmed Abdulkarim Alkholifey, the Governor of Saudi Arabian Monetary Authority (SAMA), the nation’s reserve bank, says that central bank digital currencies or CBDCs seem to be promising and are worth further exploration. Dr. Ahmed’s comments came during a recent webinar held by the International… Read More

October 19, 2020 @ 4:52 pm By Omar Faridi  |  

The Bank of Canada, the nation’s central bank, recently posted a new job requirement for an economist who may have experienced working with digital currencies and financial technologies or Fintech services. The reserve bank has noted that it aims to serve as “a leading central… Read More

September 11, 2020 @ 8:27 am By Omar Faridi  |  

Christine Lagarde, the President of the European Central Bank (ECB), has noted that money facilitates both transactions and relationships. According to the former International Monetary Fund (IMF) chair, money may be considered “an expression of sovereignty.” Lagarde, whose comments came during the recently held Deutsche… Read More

August 25, 2020 @ 8:27 am By Omar Faridi  |  

The Bank for International Settlements (BIS), a global financial institution owned by reserve banks that aims to support international monetary and financial cooperation and acts as a bank for central banks, has noted that central bank digital currencies (CBDCs) are now “in the limelight.” However,… Read More

August 24, 2020 @ 10:54 am By Omar Faridi  |  

Ukraine’s reserve bank claims that central bank digital currencies (CBDCs) may work well when the private sector is involved. The country’s central banking institution had launched a pilot program back in 2018 that had focused on developing a digital version of Ukraine’s national currency (the… Read More

August 11, 2020 @ 8:50 pm By Omar Faridi  |  

NetCents Technology Inc (CSE:NC) (FSE:26N) has reportedly joined Visa’s Fintech Fast Track Program in order to enhance its payments platform. NetCents is a digital currency payments technology firm that will now be offering a Visa payment card to customers in the US and Canada. Like… Read More