The Uniform Law Commission’s model virtual currency act has been introduced in California

In February, the Uniform Law Commission’s model act for virtual currency business licensing was introduced in the California Assembly as AB 1489. Although it is now October and the Assembly’s legislative session is over for the year, some are ringing alarm bells about this bill, calling it an existential threat to the crypto industry, and … Read more

IMF Report: Countries are Broadly Embracing the Opportunities of Fintech to Boost Economic Growth and Inclusion

In a paper entitled “Fintech: the Experience So Far,” the International Monetary Fund (IMF) stated that, while there are regional differences, “countries were broadly embracing the opportunities of Fintech to boost economic growth and inclusion.” The pursuit of Fintech innovation is being balanced with the need to address intrinsic risk. The IMF paper “identified key … Read more

French Regulators Notice Uptick In Crypto-Related Complaints

French financial regulators have observed an increase in complaints regarding cryptocurrencies this year. Investors in the country are increasingly filing complaints about digital currencies with France’s Financial Markets Authority (AMF) since January 2019, according to the AMF’s 2019 Risk Map report published on July 2. Percentage of claims to AMF regarding crypto assets. Source: AMF      … Read more

Reserve Bank of India Developing Blockchain Banking Platform

The Reserve Bank of India (RBI) is developing a blockchain platform for banking in its R&D branch, according to a report by BusinessLine on June 28 The blockchain platform will reportedly host a number of blockchain applications, and is slated to launch next year. This model platform is reportedly being designed to serve banks; according … Read more

French Central Bank: Facebook’s Libra May Need Banking License

Bank of France Governor Francois Villeroy de Galhau said that Facebook’s Libra stablecoin must comply with anti-money laundering regulation and seek banking licenses if it offers banking services, Reuters reports on June 25. Per the report, while Villeroy admitted during an interview with French magazine l’Obs that there was room to improve cross-border money transfers. … Read more