Regulatory Developments

Cyberspace and Fintech Borders

By Dr. Rosa Lastra and Dr. Jason Grant Allen Since the 1990s, the Internet has become the communications channel used for an increasing number of commercial and financial transactions, not least because it makes transacting across geographical distances quicker, easier, safer, and more affordable. Already in the 1990s, it became clear that the Internet was … Read more

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United Arab Emirates and Saudi Arabia Collaborate on New Cryptocurrency

The United Arab Emirates (UAE) and Saudi Arabia have announced an agreement to cooperate on the creation of a cryptocurrency, UAE official news agency Emirate News Agency reports on Jan. 19. According to the report, the Executive Committee of the Saudi-Emirati Coordination Council has held a meeting in UAE capital Abu Dhabi, with 16 members … Read more

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Contextualizing Regulatory Sandboxes in Latin America

Nydia Remolina is the Legal Advisor for Innovation, Grupo Bancolombia Intense competition for technological innovation is informing not only business strategies for participants in financial markets, but also regulatory policy in forward-looking jurisdictions seeking to raise their profile as fintech hubs.  Importantly, this is not just a phenomenon impacting US and EU markets, but also … Read more

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Wyoming Introduces a Bill Aiming to Define Virtual Currencies as Money

A bill meant to clarify the classification of cryptocurrencies has been introduced in the U.S. state of Wyoming Jan. 18, according to the official state legislature website. The bill places crypto assets into three categories: digital consumer assets, digital securities and virtual currencies. The bill defines assets falling in any of those three categories as … Read more

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OECD Calls for ‘Delicate Balance’ in Global ICO Regulation

The Organisation for Economic Cooperation and Development (OECD) has stated that global regulators should work together to facilitate the development of initial coin offerings (ICOs), according to a report released Jan. 15. The document calls for regulatory clarity and a supervisory framework for ICOs, defining such moves as “a stepping stone to their safer use … Read more

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Crypto/Blockchain

Bitcoin Daily: Bitcoin Kiosks At The Supermarket, tZERO To Launch Next Week

Indonesian ride-hailing company Go-Jek is acquiring a “substantial” number of shares in Philippine-based blockchain services platform Coins.ph. While the details of the transaction were not revealed, it was reported that there will be no impact to Coins.ph customers and that its team “will continue in their existing roles,” according to CoinGeek. “Supporting the success of … Read more

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Ethereum Devs Propose Activating Constantinople Hard Fork in Late February

UPDATE (Jan. 18, 2019, 15:40 UTC): Constantinople hard fork activation has been set for block number 7,280,000, scheduled to hit on February 27th, according to developer Péter Szilágyi. ———- Ethereum core developers have proposed activating Constantinople – a planned system-wide upgrade that was called off earlier this week – in late February. Also called a hard … Read more

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Coinstar Machines in Select US States Now Sell BTC Vouchers

News On Jan. 17, financial services company Coinme announced that people visiting select Safeway and Albertsons stores in California, Texas, and Washington can now purchase bitcoin core (BTC) through Coinstar kiosks. Coinstar devices are fully automated self-service coin-counting machines and now thousands located in the U.S. market could be equipped to handle cryptocurrency transactions. Also … Read more

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Markets Update: Crypto Prices Drift Sideways While Traders Remain Uncertain

Market Updates A lot has changed since our last markets update as digital asset prices have been consolidating after the cryptoconomy’s last big drop in value. The entire ecosystem’s market valuation has lost about $10 billion over the last week, but stronger global trade volumes have managed to keep values afloat at current prices as … Read more

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Thai Crypto Exchange Determined to Stay Open After SEC Orders Shutdown

Exchanges The Thai Ministry of Finance has rejected the last cryptocurrency exchange application it had been reviewing. The exchange, which has been ordered to close down business and return customer funds, is determined to stay operational. “Shutting down is not an option for us,” its chief strategy officer reportedly said. Also read: Indian Supreme Court Moves … Read more

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Cybersecurity, Data and AML/Sanctions

AI and Ethics for Fintechs: Legislated Ethics (Pt. 2)

AI and Ethics for Fintechs:  Legislated Ethics (Pt. 1) Mayer Brown’s Alex Lakatos provides for fintechpolicy.org viewers an overview of some of the legal rules and frameworks concerning AI   . https://youtu.be/wVs9AIr7Rd4

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AI and Ethics for Fintechs: Legislated Ethics (Pt. 1)

AI and Ethics for Fintechs:  Legislated Ethics (Pt. 1) Mayer Brown’s Alex Lakatos provides for fintechpolicy.org viewers an overview of some of the legal rules and frameworks concerning AI   . https://youtu.be/PiE3BVgrfNE

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Cyberattack waves wash over West African banks

It’s crime time again as banks and other financial institutions in several West African countries have been targeted by cyber criminals. According to Symantec, the attacks have been underway since at least mid-2017. To date, organisations in Cameroon, Congo (DR), Ghana, Equatorial Guinea, and Ivory Coast have been affected. (An infographic is below.) The attackers … Read more

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This Week in Security News: Security Predictions and Malware Attacks

Home   »   Current News   »   This Week in Security News: Security Predictions and Malware Attacks Welcome to our weekly roundup, where we share what you need to know about the cybersecurity news and events that happened over the past few days. This week, learn about the span of categories for Trend Micro’s 2019 Security Predictions. … Read more

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Russia Is Considering a Shift to Bitcoin to Limit the Impact of U.S. Sanctions, Report Says

Russia is reportedly planning to replace the U.S. dollar with Bitcoin as its reserve currency in a bid to limit the impact of US sanctions imposed on the country. Last week, the cryptocurrency news site Micky quoted a Russian economist with ties to the Russian government as saying that U.S. sanctions on the country are … Read more

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Banking, Finance and Investment

Lack of ETNs Keeps Wall Street Away From Bitcoin, Says CBOE Analyst Ed Tilly

Ed Tilly, CEO, president and chairman at the Chicago Board Options Exchange (CBOE), declared that there is a need for Bitcoin (BTC) exchange-traded notes (ETNs) in order for Wall Street institutional investors to join the crypto space. Financial newspaper Business Insider reported on Tilly’s comments on Jan.18. According to the aforementioned article, Tilly declared that … Read more

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HSBC finds blockchain drastically improves efficiency of internal payments

HSBC announced on Monday that during the past year it has been orchestrating more and more cross-border payments between the various balance sheets within the federation of separately capitalized banks that make up the group using a new technology. This has managed “to drastically increase the efficiency of these internal flows”, according to Richard Bibbey, … Read more

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Reg CF Closes the Year at $161.5 Million in Crowdfunding. Total for 2018 was Flat versus Year Prior

The StartEngine Index tracking Reg CF crowdfunding issuers was published a few days ago. According to StartEngine, total successful offerings since the securities exemption was launched in May of 2016 now stands at $161.5 million. So how does 2018 compare to the year prior? Excellent question. During 2018, issuers raised $75.8 million. In 2017, issuers raised … Read more

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Marketplace Lending News Roundup – January 19, 2019

During the week I share the latest marketplace lending and fintech news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here. Fintech firms want to shake up banking, and that worries the Fed from Reuters – There is no … Read more

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ICOs Raised $160 Million in First Half of January, Report Says

Initial coin offerings (ICOs) completed in the first half of January have raised around $160 million. The figure was provided in a report by ICO rating service ICObench shared with Cointelegraph on Jan. 18. ICOs completed by Jan. 15 have managed to raise about 33 percent of the combined amount raised in the previous month … Read more

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