Regulatory Developments

OpenClose integrates with Access Business Technologies

OpenClose announced that it integrated with Access Business Technologies’ MortgageExchange interface solution, a secure cloud-based environment that enables multiple platforms and applications to share data between disparate systems.

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Old Republic title president ‘cautiously optimistic’

Old Republic International Corp. established second-quarter records for revenue and profits, according to the company’s latest earning statement.

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NS3 Preview: Cybersecurity focus more important than ever

During the 16th annual National Settlement Services Summit (NS3), slated for Sept. 1-3, attendees will have the opportunity to attend a track focused on cybersecurity.

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CFTC block trade plan gets cold shoulder

Industry divided over swaps reform proposal, and advisory committee casts doubt on need for it

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Former China Central Bank Exec Pushes for Digital Currencies

The former vice president of China’s central bank pushed for central bank digital currencies positioning it as a substitute for cash in circulation. Wang Yongli, former vice president of Bank of China and a director of the Haixia Blockchain Research Institute, said digital currencies can certainly be a substitute for cash but it shouldn’t be … Read more

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Cybersecurity, Data and AML/Sanctions

Sokin picks Jumio to power customer authentication

Payments fintech Sokin has signed a partnership deal with Jumio to boost the security of its client onboarding process. Sokin CEO, Vroon Modgill Sokin offers fixed price subscription services which it claims can cut out repeat and hidden costs. The firm will integrate Jumio’s artificial intelligence-based identity solution. Customers will capture a picture of their … Read more

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Warning: This malware is tied to the Chinese government, U.S. says

The U.S. government issued an alert Monday that a type of malware seen frequently by security researchers in the last decade is tied to the Chinese government, the latest in a series of American warnings about China’s cyber capabilities this summer. The U.S. Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA), the Federal … Read more

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The U.S. and EU’s key data-protection deal is dead. How one of the world’s biggest data brokers is adapting

Acxiom is one of those American companies that probably knows a lot about you, even if you’ve never heard of it. The firm is a database marketing company, also known as a data broker—it builds “anonymized” profiles of people and sells them to advertisers, so they can better target their ads. As such, Acxiom is … Read more

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The quest for quantum-proof encryption just made a leap forward

Many of the things you do online every day are protected by encryption so that no one else can spy on it. Your online banking and messages to your friends are likely encrypted, for example—as are government secrets. But that protection is under threat from the development of quantum computers, which threaten to render modern … Read more

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Instacart shoppers are battling order-grabbing bots

Lisa Marsh’s job shopping and delivering groceries for Instacart during the past three years has been unforgiving. Company tipping policies cut into earnings while boycotts and other labor strife created confusion, she said. Then the global pandemic hit, transforming once mundane trips to Los Angeles grocery stores where she lives into a palpable health risk. In recent weeks, another … Read more

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Crypto/Blockchain

Asian Institute of Digital Finance Created by Monetary Authority of Singapore and Others Looks to Boost Fintech

The Monetary Authority of Singapore (MAS), along with the National University of Singapore (NAS) and National Research Foundation (NRF), have joined to create a new Fintech focused entity: the Asian Institute of Digital Finance (AIDF). AIDF is expected to provide thought leadership and strengthen synergies between education, research and entrepreneurship in Fintech. AIDF is anticipated … Read more

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Opyn Removes Liquidity From Uniswap After $370K Stolen in DeFi Exploit

Attackers have exploited a vulnerability in the Opyn ETH Put contract to walk away with more than $370,000. One of the first members of Crypto Twitter to report on the theft, DegenSpartan, stated on Aug. 4 that the traders used flash loans to buy Ethereum Put oTokens (oETH) from Uniswap. They then reportedly chose an … Read more

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Flooding Threatens China’s Bitcoin Miners, Chinese Billionaire Says ‘Three Gorges Dam Collapse Imminent’

This week cryptocurrency enthusiasts are still focused on the severe flooding in China during the 2020 monsoon season. The flooding has already displaced millions of Chinese citizens and skeptics are concerned about the vast number of bitcoin miners located in the Sichuan province. The landlocked province in Southwest China, Sichuan is located upstream of the … Read more

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Bitcoin Futures Data Shows Market Favors Bulls Despite $1.5K Flash Crash

The sudden $1,500 drop in Bitcoin (BTC) price on August 2 caused over $1 billion worth of liquidations on futures contracts and also led to a sharp decline in the price of many top altcoins.  This massive figure represents 18% of the total $5.6 billion open interest and undoubtedly caused the exaggerated move down to … Read more

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Alex Mashinsky from Celsius Network Argues that the Ethereum based Lending Platform Is Better than its DeFi Competitors

Alex Mashinsky, the founder of several notable startups such as Arbinet, VoiceSmart, GroundLink, and currently the CEO at the Celsius Network, an Ethereum-based lending platform, notes that Celsius is a member organization. He explains during an interview featured on Bloxlive.tv that the company’s job is to represent “the best interests” of the platform’s community, which … Read more

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Banking, Finance and Investment

Update: CapitalRise’s Latest Crowdfunding Round Secures More Than £1.9 Million During the Final Week on Seedrs

Property crowdfunding platform CapitalRise has raised more than £1.9 million through its latest equity crowdfunding campaign on Seedrs, which is set to close later this week. The funding round was launched last month, originally seeking £1 million. The initiative made its debut just a little over a year after raising £2,395,250 through its first Seedrs … Read more

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Blockchain-based IP Protection Application Gets Investment

Blockchain venture capital fund NEM Ventures has reportedly invested in SharpShark, a Chilean startup leveraging the Symbol blockchain platform to offer timestamping solutions for content creators to protect their intellectual properties. It will also allow them to tokenize or transfer their creations.  Content creators and blockchain digital protection  According to the report, SharpShark is designed … Read more

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PayPal cites ‘death of cash’ as firm posts record earnings

PayPal shares jumped nearly 5% after market close on Wednesday as the payment giant announced record revenues of $5.26 billion for the second quarter, and said it added 1.7 million new merchants during this period. In a call discussing the results, PayPal executives said society has reached an “inflection point” when it comes to the … Read more

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Bitcoin Suisse Completes a $48 Million Series A Financing Round

Swiss crypto financial services provider, Bitcoin Suisse completes its first financing round of $ 48 million (CHF 45 million). The completed Series A financing round now has Bitcoin Suisse’s 2019 pro forma equity totaling around $108 million. The financing round includes 16.4% of shares of BTCS Holding AG, consisting of 6.4% treasury shares and 10% … Read more

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Wyoming Digital Asset Bank Avanti Said to Open in October

Avanti, Wyoming’s first bank focusing on digital assets is scheduled to open this coming October. According to Avanti Financial Group, Inc. the aspiring bank received formal notice from the Wyoming Division of Banking that Avanti’s application for a bank charter was accepted as complete on July 15. Additionally, its application timeline has been accelerated. Avanti … Read more

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