Wednesday, September 18, 2019
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BIS Economist Proposes DLT-Based Financial Market Monitoring

An economist of the Bank for International Settlements (BIS) has proposed new ways of supervising financial risks through distributed ledger technology (DLT).In a recently released working paper, economist Raphael Auer made the case for so-called embedded supervision, which would automatically monitor tokenized markets. This would purportedly eliminate the need

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Maltese Financial Regulator Will Actively Monitor Cryptocurrency Firms

The Malta Financial Services Authority (MFSA) says in its recently published strategic plan that it will actively monitor and manage business-related risks related to cryptocurrency firms.Monitor crypto firms to prevent crypto-related crimesOn Sept. 6, the MFSA published its three-year strategic plan for 2019–2021 which states the Malta financial regulator will

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Swiss Crypto Banks Receive Licenses From Financial Regulator

The Swiss Financial Market Supervisory Authority (FINMA) has reportedly granted two banking and securities dealer licences to crypto-focused banks.Two Swiss crypto-specializing firms, Seba Crypto AG and Sygnum have received banking and securities dealer licenses, the banks said in separate statements on Aug. 26.With the new license, Seba expects to

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House Financial Services Committee Will Continue Libra Review

Representative Maxine Waters, chair of the United States House of Representatives’ Financial Services Committee, says the committee will continue to review Facebook’s proposed cryptocurrency Libra and the corresponding digital wallet Calibra.A priority for autumn 2019Waters announced the committee’s priorities for fall 2019 on Aug. 23. According to the statement,

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Israeli Financial Authority to Accelerate Blockchain, Fintech Licensure

The Capital Market, Insurance and Saving Authority, a division of Israel’s Ministry of Finance (MoF), is looking to accelerate the process of procuring licenses for blockchain and fintech companies in the country.Israeli business news outlet Calcalist reported the development on Aug. 19. According to the report, the authority has

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US Financial Regulators Reach $7M Settlement Over PlexCorps ICO

The United States Securities and Exchange Commission (SEC) has reached a multi-million dollar settlement with PlexCorps owner Dominique Lacroix, business partner Sabrina Paradis-Royer and PlexCorps over an allegedly fraudulent initial coin offering (ICO).The SEC submitted its settlement agreement to a U.S. District Court in Brooklyn on Aug. 12. According

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Ripple CEO Brad Garlinghouse Seeks More Deals with Banks and Financial Institutions

Brad Garlinghouse, the chief executive officer of Ripple (XRP)trade, showed his admiration of the just-concluded MoneyGram deal while giving us a tip of the iceberg on Ripple’s future plans.Garlinghouse asserted that the MoneyGram deal was one of the biggest – if not the biggest – deal that the prominent crypto

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