(source: en.wikipedia.org)
Federal securities regulators issued a proposal on updated cryptocurrency custody rules for investment advisors. The Securities and Exchange Commission (SEC) sent its proposal to the White House’s Office of Management and Budget (OMB) on Tuesday (Aug. 25) per a post on its website. “This proposed...
Widespread adoption of tokenized deposits could make it easier for depositors to move their funds to pursue higher interest rates and therefore require banks to raise their rates to remain competitive, two Federal Reserve Bank of Dallas economists wrote in a Tuesday (Aug. 25) blog post. If the...
The Blockchain Association is urging federal regulators to preserve a boundary between regulated stablecoin issuers and the decentralized networks on which their tokens circulate. In a Friday (Aug. 21) comment letter, the digital-asset trade group broadly endorsed proposed rules requiring permitted payment stablecoin issuers to...
Revolut is launching a European stablecoin as the digital tokens move further into mainstream finance. The U.K. FinTech’s EURR stablecoin is pegged to the euro and is being rolled out first to customers in Denmark, Poland and Portugal before expanding to other parts of the European...
Watch more: What’s Next in Payments With Flagright’s Chris Phillips A little paranoia may be useful when the technology moving money changes faster than the controls designed to police it. That is the premise Chris Phillips, director of Financial Crime Industry Engagement at Flagright, brought...
A stablecoin may pass through several wallets and intermediaries before someone tries to turn it back into dollars. Federal regulators now have to decide which of those relationships requires someone to know who’s on the other side, and when. That issue runs through comments on...
Cryptocurrency’s biggest enterprise problem isn’t its volatility and unpredictable returns. It’s that the risk of digital assets, spanning both the balance sheet and the compliance and regulatory arena, is difficult to calculate. Chief financial officers have historically been forced to answer, mostly by themselves, questions...
Cryptocurrency card spending has reportedly more than tripled in the last year amid increased retail purchasing. Spending on these cards came to $1.04 billion in July thanks to dollar-backed stablecoins and more people purchasing everyday items like groceries, CoinDesk reported Sunday (Aug. 23). Dollar-backed stablecoins...
Last month, cryptocurrency exchange BitMart announced plans to wind down its operations. Now, the company says it is exploring a way to remain open, according to an announcement published on its website Friday (Aug. 21). “Following further discussions with members of the community, our stakeholders...