Calabria asks Congress for chartering authority in annual report

The Federal Housing Finance Agency (FHFA) requested the legislative ability to charter competitors of Fannie Mae and Freddie Mac as government-backed guarantors for the secondary mortgage market in its 2018 report to Congress. The chartering authority FHFA Director Mark Calabria has requested from Congress would be similar to that of the Office of the Comptroller of … Read more

Legaltech Monax Uses Blockchain to Help SMEs, Targets Real Estate Industry & More

Monax is a blockchain based platform that seeks to lead the sector regarding “digital legal infrastructure.” While finance may be the immediate focus for much of the blockchain industry, other early-stage firms are using the tech to improve a diverse sector of businesses. Edinburgh-based Monax is targeting the legal industry, a sector of business that … Read more

Iceland’s Currency Will Be First in Europe to Be Traded as E-Money

The Financial Supervisory Authority of Iceland (FME) has approved Reykjavik-based Monerium as its first electronic money institution. The designation, announced Friday, means that Monerium has regulatory approval to provide fiat payment services on a blockchain and use it throughout the European Economic Area. Electronic money is a well-established regulatory framework in Europe that’s been in … Read more

Visa, Mastercard, PayPal, Uber among companies joining Facebook stablecoin project

Facebook has signed up a who’s who of tech and financial powerhouses to back its forthcoming stablecoin, including Mastercard, Visa, PayPal, and Uber, the Wall Street Journal reported on June 13. The social media giant plans to unveil details of its secretive cryptocurrency with the release of a white paper next week, the paper added. … Read more