Regulatory Developments

CFTC Is Waiting on SEC to Allow Futures Trading of More Digital Assets, Says CFTC Chairman

In a July 7 interview with predecessor Jim Newsome, current Chairman of the Commodity Futures Trading Commission (CFTC) Heath Tarbert ran down a list of pending concerns standing between cryptocurrencies and the long-awaited promised land of regulatory clarity. Securities regulation and the CFTC’s purview Tarbert was careful to outline the distinction between the work of … Read more


Exempt Offering Ecosystem Update: What Online Investment Platforms are Telling the SEC

Not too long ago, the Securities and Exchange Commission (SEC) concluded the comments phase of a proposal to update, and hopefully improve, rules pertaining to the exempt offering ecosystem. This includes Reg A+, Reg CF, and Reg D (506c), each a variant of online capital formation (crowdfunding). The actual proposed rule change, “Facilitating Capital Formation … Read more


4th Amendment Does Not Protect Bitcoin Data, US Fifth Circuit Court Rules

A Fifth Circuit panel of judges recently ruled that Fourth Amendment rights do not apply to cryptocurrency transaction data that stems from an exchange. The U.S. court ruled against the defendant, Richard Gratkowski, who attempted to leverage the Fourth Amendment in an appeal. According to the ruling of a three-judge panel from the Fifth Circuit … Read more


Russian Courts Can’t Agree on Whether Crypto Is Property

Russian courts are making conflicting rulings on whether bitcoin and other cryptocurrencies count as property. In one new case, Saint Petersburg’s district court has refused to force bogus law enforcement officers to return cryptocurrencies extorted from a victim on the basis that digital assets are not legitimate assets. According to the press office Telegram channel … Read more


US Senators Float Bill Requiring Congressional Watchdog to Study Crypto’s Role in Trafficking

The top Republicans and Democrats on the Senate Banking Committee plan to introduce legislation this week that would direct the Government Accountability Office (GAO) to study virtual currency’s role in illicit online activity. Read more here.


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Cybersecurity, Data and AML/Sanctions

House Financial Services Committee Task Force on AI Schedules Hearing on AI, Contract Tracing and Exposure Tracing for COVID-19

  Tomorrow (July 8), the Task Force on Artificial Intelligence, part of the House Financial Services Committee will hold a virtual hearing entitled, “Exposure Notification and Contact Tracing: How AI Helps Localities Reopen Safely and Researchers Find a Cure.”  Open to the public, the virtual… Read More The post House Financial Services Committee Task Force … Read more


Telegram to Shut Down its TON Test Network Next Month, After Paying $18.5 Million Fine to SEC, and Returning Investors’ Money

Telegram, a major social network with hundreds of millions of users, had attempted to raise funds through a digital asset offering. However, it recently decided to settle an enforcement action initiated by the US Securities and Exchange Commission (SEC). While Telegram claims it terminated its blockchain or distributed ledger tech (DLT) project (Telegram Open Network … Read more


Criminal charges reveal the identity of the “invisible god” hacker

A notorious hacker who made an estimated $1.5 million by stealing information from more than 300 companies and governments in 44 countries has been identified as a 37-year-old man from Kazakhstan.  Known as Fxmsp, the hacker became famous in 2019 when he advertised access and source code for leading cybersecurity companies, amid claims that he … Read more


Personal Data of 250,000 People From 20 Countries Leaked by Bitcoin Scam

A global bitcoin scam has reportedly leaked personal data of about 250,000 people from more than 20 countries. The majority of the compromised data were of people in the U.K., Australia, South Africa, and the U.S. This bitcoin scam operates under several different names. Investors’ Personal Data Leaked A global threat hunting and intelligence company, … Read more


How 5G will revolutionise consumer banking

Technology has been driving changes in consumer behaviour for years. While it may be a few more years until 5G wireless technology is readily available in the UK for consumers and institutions, we are moving, albeit slowly, towards this milestone. When 5G is part of our nationwide infrastructure, it will transform products and services. Banking … Read more


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Crypto/Blockchain’s Blockchain based Voice Network has Officially Launched, Plans to “Take Social Media Back” from Big Tech

Voice, a blockchain-based social media platform created by, the company behind EOS, a leading distributed ledger tech (DLT) development platform, has confirmed that it has officially launched. Voice is presently available only in the read-only mode for the general public. The social media network is only permitting registered community members to post content right … Read more


Bitcoin Price Poised for ‘Imminent’ Breakout As Network Hashrate Hits Record Highs

The price of bitcoin could see an ‘imminent’ breakout, according to the latest Glassnode data. The data firm says bitcoin (BTC) has been flashing bullish for the past six weeks amid positive onchain activity. Meanwhile, the BTC network hashrate has continued to grow, with the seven-day average reaching 123.4 exahash per second (EH/s) on Monday. … Read more


Overstock CEO: How blockchain can help pull us out of the coronavirus recession

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Future Bleak for Private Stablecoins, SFB Economist Says

Speaking on a Unitize digital conference panel, Peter Dittus, chief economist for SFB Technologies, said he does see a place for privately-issued stablecoins.  “I don’t see a great future,” Dittus said of stablecoins on the June 7 panel, live streamed by Cointelegraph.  Two stablecoin classifications exist Stablecoins exist in two categories — privately issued and … Read more


Cardano’s ADA is Either #6 or 7 By Market Capitalization — Depending on Who Counts

Cardano’s ADA recently overtook Litecoin (LTC) in market capitalization. Now it may have passed Bitcoin Satoshi Vision (BSV) as well, depending on how the metric is calculated. BCH, BSV, ADA & LTC. Source: CoinMarketCap. How many ADAs out there? At the time of this writing, CoinMarketCap, or CMC, shows ADA in seventh spot, while Nomics … Read more


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Banking, Finance and Investment

Crypto Facilities Gets FCA Nod to Set up Crypto Futures Venue

Crypto Facilities, a subsidiary of Kraken cryptocurrency exchange, has obtained a Multilateral Trading Facility (MTF) license from the UK’s Financial Conduct Authority (FCA). An MTF is a European regulatory term for a self-regulated financial trading venue. MTFs are an alternative to a traditional stock exchange where a market is made in securities, typically using electronic … Read more


A Biden presidency might be good for stocks, according to JPMorgan

Could Biden bode well for stocks? That’s what analysts at JPMorgan suggest in a new report. “The consensus view is that a Democrat victory in November will be a negative for equities. However, we see this outcome as neutral to slight positive,” strategists at the firm wrote in a report Monday. It wasn’t too long … Read more


Is your bank rotten to the core?

Core banking has evolved over time as banks became more sophisticated in managing customers and the breadth and variety of products they offer. I covered the “new core” for customer management, digital banking platforms (DBP) in my last post. In this post, I’ll focus on the “product core”. Most banks run multiple product cores, each … Read more


$11 Trillion Offshore Assets Uncovered After 100 Countries Share Information on 84 Million Bank Accounts

Governments in nearly 100 countries have been sharing offshore bank account information in an effort to crack down on tax evasion. Their “Automatic exchange of information” has led to uncovering 10 trillion euros ($11 trillion) in offshore assets in 84 million bank accounts. The Organisation for Economic Co-operation and Development (OECD) said on Tuesday that … Read more


Crowdfunding platform Republic launches Note profit-sharing token

A crowdfunding platform that has previously raised funds for the popular investing app Robinhood is launching a profit-sharing token. Plans for the Republic Note were first announced in April 2019, and a token sale is scheduled to commence on July 16. Each Note is going to be sold for $0.12, and an $8 million cap … Read more


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