The U.S. Securities and Exchange Commission (SEC) has announced the launch of the Strategic Hub for Innovation and Financial Technology (FinHub) to promote public engagement on fintech-related issues and initiatives, including blockchain technology and cryptocurrencies. SEC Launches FinHub Portal in Connection with the Issuance of Its DAO Report FinHub, which replaces several internal working groups at…
The global entity responsible for setting international money laundering guidelines is finally ready to lay the foundation for its first crypto-specific set of rules by June 2018. FATF Readies Global Crypto Regulation on Money Laundering Paris, France-based money laundering watchdog, Financial Action Task Force (FATF), has seen increasing pressure from global governments to unify regulation…
The CEO of the Russian state-owned financial service provider Sberbank has stated that cryptocurrency and blockchain technology will fundamentally transform business and finance. That said, Herman Gref is looking at a time span of decades rather than months or years. Herman Gref with Refreshing Take on Cryptocurrency According to a report in local news, the…
The government of Rwanda is leading an innovative mineral traceability initiative using blockchain. To that effect, the project is working with U.K.-based startup Circulor and its blockchain powered supply chain platform to record the provenance of metals in order to eradicate sources of funding for conflict minerals. Circulor to Help Rwanda Comply with International Agreements Tantalum…
A new report reveals that the majority of cryptocurrency and blockchain projects are centralized. Majority of Cryptocurrencies Can Be Classified as Centralized, Securities Cryptocurrency research firm CryptoCompare released its annual Cryptoasset Taxonomy Report, and their findings reveal that only 16% of cryptocurrencies are fully decentralized. The remaining cryptocurrencies reviewed are either centralized, or only semi-decentralized,…
In April, a blockchain entrepreneur has surprised the space by launching a savage legal attack on his four associates, alleging that all of them committed acts of fraud, breach of contract and trade theft. The allegation resulted in a $152 million lawsuit, the most expensive claim the cryptocurrency space had seen, even until this very…
Crypto and blockchains startups, even those that hold great promise, have sadly received the full brunt of 2018’s dismal market conditions, resulting in a widespread loss of clients and investment interest. For example, freshly-printed studies have revealed that Coinbase, widely regarded as this industry’s golden child, saw 80% of its U.S.-based customer base dissipate, resulting in…
The U.K.’s oldest cryptocurrency exchange has become the first company to be licensed by Gibraltar’s progressive blockchain legislation. The rules are a first for Europe and highlight the British Overseas Territory’s commitment to exploring technological innovations. Gibraltar Focusing on “Quality Not Quantity,” Coinfloor Proves Itself Worthy According to a report in the Financial Times, Coinfloor…
Controversial economist and professor at New York University’s Stern School of Business, Nouriel Roubini, has long been a detractor of cryptocurrencies, first warning investors against the “scam” in 2013. Since his widely reported tirade against the cryptocurrency, its price has risen 11x, mainly due to increased adoption and growing promise. Despite being undeniably wrong about…
Crypto venture capitalist Barry Silbert said that he is not bullish on the projects raising funds via Initial Coin Offering, or ICO. The Digital Currency Group founder told Forbes that he philosophically supported the idea of disintermediating funding process but yet found it uncompelling from the point of view of purpose, capability, legality, and valuation. Utility…