Bitcoin

Bitcoin Daily: eToro Acquires Crypto Portfolio App Delta, ECB Considers Issuing Digital Currency

Bitcoin Daily: Ripple expands in Europe

Trading platform eToro has acquired crypto portfolio management app Delta in a deal reportedly worth $5 million.

“We are excited to announce that Delta will become part of the eToro Group. This is our second acquisition this year and reflects our commitment to continued growth and innovation. When we started eToro our goal was to disrupt the world of trading. We wanted to change the way people think about trading and investing, ultimately reducing dependency on traditional financial institutions and making trading and investing more transparent and fun. This mission remains our guiding light, and we will continue to evolve both organically and by acquisition in order to bring our customers the very best experience,” Yoni Assia, co-founder and CEO of eToro, said in a press release.

In other news, the European Central Bank might want to issue its own digital currency in response to Facebook’s plans for its crypto, Libra.

“The ECB and other EU central banks could usefully explore the opportunities as well as challenges of issuing central bank digital currencies including by considering concrete steps to this effect,” said a draft prepared by the Finnish EU presidency and subject to possible amendments.

Hong Kong’s Securities and Futures Commission (SFC) released a position paper explaining that it should treat cryptocurrency trading platforms like traditional brokers if they offer security tokens. That means that any virtual asset firm trading at least one security token will be under the SFC’s scrutiny, while applications for peer-to-peer (P2P) exchanges will not be reviewed by the agency.

And UN Security Council’s Sanctions Committee on North Korea is investigating accusations that North Korea used a Hong Kong-based blockchain company to launder money. The committee said cyber currency the country stole last year was exchanged into cash after at least 5,000 separate transactions through several countries so that it was “difficult to track.”

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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