Cryptocurrency Analysis and News Portal
Six months after the U.S. Commodity Futures Trading Commission (CFTC) filed a complaint against Control Finance, the regulatory agency is yet struggling to capture the mastermind behind the crypto pyramid scheme.Filed mid-2018, the CFTC accused Control Finance and its Director Benjamin Reynolds of defrauding naive investors through a fraudulent crypto
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On Jan. 3 Spain-based CaixaBank added the blockchain-powered finance platform We.trade to its list of services. CaixaBank has now become one of the first banks in Europe to provide its customers access to blockchain technology.Launched in 2017, We.trade is a finance platform powered by IBM’s blockchain technology. It was developed
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Financial institutions should be allowed to offer cryptocurrency products, such as derivatives, according to a government advisory body in South Korea.In a new report, the Presidential Committee on the Fourth Industrial Revolution (PCFIR) proposed that the government could move to bring cryptocurrencies into the mainstream of finance through a number
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Libra, the much-scrutinized proposed cryptocurrency from Facebook (NASDAQ:FB), has “failed in its current form,” according to Swiss President and Finance Minister Ueli Maurer. Swiss President Critical of Libra Basket Maurer, who is in the final days of his year-long term as President of the Swiss Confederation, was speaking to the country’s national
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Banks involved in this month’s trial included Dutch bank ABN AMRO, Mexican bank Banorte, Boston-based Citizens Bank, Frankfurt-based Commerzbank, Hong-Kong based Bank of East Asia and the Saudi British Bank. Other corporations involved included BMW, Saudi Arabia-based International Islamic Trade Finance Corporation, financial services institute SüdFactoring (subsidiary of German bank
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The China Construction Bank will help finance small businesses using a blockchain platform. Source
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BNY Mellon chose Marco Polo because the blockchain works well for open account financing, which makes up around 85 percent of trade finance, and works well for large corporates, Kim said. (In open account transactions, the goods are shipped and delivered before payment is due; with letter-of-credit financing, the bank
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A Bitcoin whale has moved a colossal 44,000 ($310,280,282) BTC from one untracked wallet to another for a fee that is considered pocket change to the developed world, according to TheNextWeb, November 24, 2019. If the transacting entity used their friendly neighborhood bank instead, it would have cost them $40-$100
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Oman Oil and Orpic Group and HSBC Bank Oman SAOG have conducted the first trade finance transaction on the blockchain in the country using R3’s Corda platform.As news publication the Oman Observer reported on Nov. 23, Oman Oil and Orpic Group — one of the largest oil and gas businesses
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The Fed warned that a stablecoin crisis could wreak havoc on the global economy and outlined the steps issuers must take to protect the status quo. Source
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