Three agencies issue direct warning: everyone must comply

The three main U.S. agencies overseeing cryptocurrencies and digital assets just issued an unusual joint warning. On October 11, the Commodity Futures Trading Commission (CFTC), the Financial Crimes Enforcement Network (FinCEN), and the Securities and Exchange Commission (SEC) issued the blunt statement. Anyone undertaking activities involving digital assets must comply with “anti-money laundering” (AML) and … Read more

HSBC Enacts First Letter of Credit on a Blockchain in Malaysia

Major bank HSBC has announced the successful enactment of a letter of credit (LC) on a blockchain in Malaysia. The transaction English language local fintech news outlet Fintech News Malaysia reported the development on Oct. 14, noting that the transaction involved packaging firm Simply Packaging importing resin from an unspecified Singaporean chemicals company. The issuing … Read more

Despite being called ‘global threat’, Libra Association launches

Facebook’s wounded Libra Association formally voted itself into existence on October 14, electing a board and choosing officers. Monday’s ceremony was overshadowed by the loss of seven important original members, six on them on the previous Friday. Mastercard, Visa, payment processors Stripe and Mercado Pago, eBay, and online travel company Booking Holdings all pulled out … Read more

New Gov’t Initiative to Put South Korean Trade on Blockchain by 2021

The South Korean government is planning to establish a digital trade foundation to reduce the costs of trade by using blockchain technology. Reduce trade costs by more than 90% On Oct. 14, South Korean Finance Minister Hong Nam-ki introduced the country’s Development Plan for Digital Trade. Under the plan, technologies such as blockchain, big data … Read more

Ford Uses Blockchain Tech to Track ‘Green Miles’ Driven By Vehicles

The Ford Motor Company is looking into blockchain technology and geofencing to accurately track the number of “green miles” driven by its energy-efficient vehicles. Analyzing real-world benefits of energy-efficient vehicles On Oct. 15, Ford announced that it is expanding its European plug-in hybrid electric vehicle (PHEV) pilot project to Cologne in Germany. The United States … Read more