Bitcoin Daily: Gemini Exchange Joins Silvergate Exchange Network; UK’s National Liberal Party Reveals Crypto Policy

Gemini joins SEN

Kadena has announced the launch of an upgraded version of its blockchain solution to the Microsoft Azure Marketplace.

The “Kadena Scalable Permissioned Blockchain” is now available on Azure Marketplace for free. The Blockchain-as-a-Service (BaaS) model enables organizations to start using Kadena’s blockchain by quickly provisioning it online, significantly reducing the cost and time-to-market associated with the on-premise installation of other blockchain solutions.

Kadena’s existing blockchain clients include $3 billion asset manager USCF Investments, healthcare technology company Rymedi, and leading Latin American technology business Alteum, as well as one of the world’s top 100 largest banks, and Fortune 500 companies.

“In building with Microsoft, Kadena is committed to providing an accessible onramp to blockchain for businesses of all sizes,” said Will Martino, founder and CEO of Kadena on Medium. “We are excited to bring our secure and scalable technology to Azure customers as we continue working with Microsoft Azure Marketplace to develop cloud-enabled blockchain solutions.”

In other news, Gemini announced that it has joined the Silvergate Exchange Network (SEN).

“SEN allows our institutional customers to deposit and withdraw U.S. dollars to and from their Gemini account in real-time; 24 hours a day, 7 days a week, and 365 days a year. While our industry is accustomed to cryptocurrencies operating 24/7/365 (like email), fiat currencies have for the most part remained shackled to ‘banking hours’ or ‘business hours.’ SEN is an important step toward changing this,” Joshua Rawlins, managing director of financial operations at Gemini, wrote in a blog post.

And the United Kingdom’s National Liberal Party (NLP) has posted what it believes is the only coherent policy regarding cryptocurrencies.

“The current policy is a non-policy. While our government professes to abhor organized crime and money laundering, it takes a hands-off approach to organized crime firms using cryptocurrency, many of them based in Eastern Europe. The sheer volume of transactions makes this a national security threat,” the party wrote in a post on its website.

Part of its policy would have crypto offenders subjected to the same punishments as money launderers, adding that “Victims of cryptocurrency crime and fraud should be compensated from a fund established by the cryptocurrencies and exchanges that do business in the UK. If a voluntary fund cannot be established, a transactional tax should be imposed to fund the initiative.”

In addition, the party wants the Financial Conduct Authority (FCA) to provide stronger support for fraud victims, as well as create initiatives to promote crypto and its self-regulation.


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.