Thursday, November 21, 2019
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Financial Crimes Enforcement Network Head: Crypto Exchanges Must Verify Identities

In a conference hosted by the blockchain analysis company Chainalysis, the Director of Financial Crimes Enforcement Network (FinCEN) Kenneth Blanco stated that the U.S government will be observing a strict implementation of the “Travel Rule.”According to the “travel rule,” any entity engaging in cryptocurrency exchange is required to share their

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Stablecoins ‘Pose Risk to Financial Stability’ Warns Federal Reserve

Stablecoins could “complement” other payment systems and improve conditions for consumers, but need constant checks, says the United States Federal Reserve.In its November 2019 Financial Stability Report released on Nov. 15, the Fed highlights stablecoins and their potential impact on the U.S. and beyond.Fed: Unregulated stablecoins “pose risks”Rather than

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Crypto Leaders Propose Open Compliance Protocol For Financial Action Task Force

Today during a panel at BlockShow Asia 2019, a group of cryptocurrency industry leaders announced the creation of a protocol that aims to maintain privacy while complying with Financial Action Task Force (FATF) regulation. The FATF’s so-called “travel rule” requires virtual asset service providers (VASPs) like cryptocurrency exchanges to collect

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Alibaba Subsidiary Ant Financial Tests Its Enterprise Blockchain

The financial technology subsidiary of Chinese e-commerce giant Alibaba, Ant Financial, started testing its enterprise blockchain platform.According to local news outlet Sina Finance on Nov. 20, the senior director of technology and business innovation at Ant Financial, Jieli Li, announced the development at the World Blockchain Summit at Wuzhen.

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21 Crypto Exchanges Ask for License From Malta’s Financial Watchdog

The Malta Financial Services Authority (MFSA) has received queries from 21 cryptocurrency exchanges seeking licensure under the Virtual Financial Assets (VFA) Act.21 firms out of 34 potential VFA providers are crypto exchangesAccording to an official announcement on Nov. 1, the 21 exchanges are among the 34 prospective VFA service

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Maltese Financial Regulators Warns Investors of New Bitcoin Ponzi Scheme

Maltese financial regulator, the Malta Financial Services Authority (MFSA), has made it clear to residents that “Bitcoin Future,” a new Bitcoin Ponzi scheme that claims to be endorsed by popular celebrities and regulators, is a fake investment platform and has not been licensed by the MFSA, according to a press

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Financial System Blind to Crypto’s Deflationary Impact, Says Analyst

Investment strategist William Peets has pointed to a widespread underestimation of the deflationary impact of cryptocurrencies such as Bitcoin and blockchain for global finance.Peets is currently CIO and portfolio manager for digital asset strategies at Passport Capital. In an Oct. 30 interview with Real Vision Finance, he said that blockchain

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