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John Kiff

Proposal for an IMF Staff Executive Board Paper on Promoting Market SDRs | The Bretton ... - 0 views

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    This blog by ex-IMFer (1976-2003) Warren Coats suggests that the IMF get to work developing a digital SDR, to build the foundation on which the SDR can become a more important international reserve asset.
John Kiff

Introducing Lightning Payments - Fold - 0 views

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    United States-based payments startup Fold has made Lightning Network (LN) payments possible at Amazon, Starbucks, Uber and other big name retailers. The news was revealed in an official blog post published on July 10.
John Kiff

Libras fire back at Facebook for naming new cryptocurrency after astrological sign repr... - 0 views

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    "Libras have a right to be peeved. Facebook is attempting to represent themselves as fair and just, akin to Libra's most positive qualities," said astrologist Mackenzie Greer. "Given their track record, I'm not so sure they'll be able to live up to the Libra name."
John Kiff

QR Codes Are Out, Soon You'll Only Need to Show Your Face to Pay in China - 0 views

  • Experts believe that fa
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    While Sweden is trialling inserting microchips into its citizens as a new way to pay, China is opting for a less invasive method - your face.
John Kiff

Libra, 2 weeks in | David Marcus - 0 views

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    Facebook's blockchain head, David Marcus, wrote a blog post trying to clear up some common questions about Libra. Among the points: Facebook won't control the currency, and it's meant primarily to help unbanked and underbanked people participate in the financial system. If Facebook benefits, it will be because people find it easier to transfer money using Facebook products.
John Kiff

Self-Proclaimed Satoshi Nakamoto's Bitcoin 'Reveal' Is an Epic Fail - 0 views

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    The latest self-proclaimed Satoshi Nakamoto overpromised and underdelivered in Part 1 of his "big reveal" - probably to the surprise of no one in crypto. In a meandering blog post, the self-proclaimed bitcoin inventor did not reveal his real name, nor did he produce a photo of himself. So we're still no closer to learning his true identity than we were before the "reveal."
John Kiff

Should central banks issue digital currency? Suddenly, it's an urgent question - 0 views

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    In a recent blog post, IMF economists Tobias Adrian and Tommaso Mancini-Griffoli called on policymakers to take "prompt regulatory action" to address the "notable risks" posed by privately issued digital currencies, called stablecoins, that are designed to maintain a consistent value. More to the point: central banks may need to get into the stablecoin business themselves.
John Kiff

Binance US To Be Launched Soon, Will Require KYC Process in Order to Start Trading - 0 views

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    Binance, is finally ready for the launch of Binance US, the US-based version of its services. According to a recent blog post, the new platform will be live in a couple of weeks.
John Kiff

LedgerX Claims 'Personal Animus' Drove Ex-CFTC Chair to Stall Approvals - 0 views

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    LedgerX executives claim the U.S. Commodity Futures Trading Commission (CFTC) is treating them unfairly - because of a blog post.
John Kiff

On Crypto Markets and Bitcoin's Value Proposition - The Coinbase Blog - 0 views

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    Coinbase reported that its customers typically buy 60% more than they sell, but during the crash, that figure jumped to 67%. It opined that ultimately, Bitcoin's value prop should not be defined by extraneous market dynamics, but rather by its unique properties that make it a potentially attractive store of value.
John Kiff

Why Financial Regulation Keeps Falling Short - 0 views

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    In 'Why Financial Regulation Keeps Falling Short', we identify the key drivers of this fundamental mismatch between finance and financial regulation, demonstrate how this mismatch contributes to undesirable policy outcomes, and lay the conceptual foundations for understanding how the processes governing how financial regulation is made can be improved in ways that help close this gap."
John Kiff

Bakkt Completes $300 Million Series B Financing - Bakkt Blog - 0 views

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    Bakkt has raised an additional $300 million of capital with participation from investors including Intercontinental Exchange, Microsoft's M12, PayU, Boston Consulting Group, Goldfinch Partners, CMT Digital, and Pantera Capital.
John Kiff

Protecting the continuity and safety of payments during the coronavirus crisis - 0 views

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    "A high-level ECB task force is currently examining the pros and cons of introducing a digital euro, which could be used by intermediaries or even by citizens through their electronic devices for their day-to-day spending needs. However, our analysis of the opportunities and challenges of CBDC should not discourage or crowd out market-led initiatives aimed at introducing private electronic means of payment with similar features in terms of user needs."
John Kiff

Coinbase To Begin Trading April 14 With Direct Listing on Nasdaq - 0 views

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    Coinbase is planning to make its trading debut on April 14 on the NASDAQ Stock Market, after the U.S. Securities and Exchange Commission declared effective the company's registration statement for the listing. Coinbase is planning to go public through a direct listing in which it will not raise any new capital. It was valued at about $90 billion in its final week of trading on Nasdaq's private market. https://blog.coinbase.com/coinbase-announces-effectiveness-of-registration-statement-and-anticipated-listing-date-of-its-1509b281f760
John Kiff

Bitcoin 1.0: the ancient stone money of Yap - 0 views

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    As the story of the rai shows, when it comes to human economies, nothing is entirely new. In fact, one rumour periodically buzzing round the crypto-world is that this is where the mysterious progenitors of bitcoin got their inspiration (which is why some bitcoin blogs have titles that include the word "Yap"). Perhaps Musk's next trip should be to Micronesia, where those now-useless stone circles still litter the landscape as a sign of what happens when norms and patterns of trust change.
John Kiff

MoneyGram locations to let customers buy and sell bitcoin with cash - 0 views

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    MoneyGram is working with cryptocurrency cash exchange Coinme to enable the cash funding and payout of digital currency purchases and sales. The arrangement will see MoneyGram add the Bitcoin service to around 12,000 locations starting this month. International locations will follow. https://coinme.com/blog/from-coinme/partnering-with-moneygram/
John Kiff

Coinbase Saw a 17% Jump in Law Enforcement Requests in 2020 - 0 views

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    Coinbase published its Transparency Report showing that it received 4,227 requests for customer data in 2020 from U.S. authorities and law enforcement agencies deom around the world, and that the pace of requests is increasing. The U.S. agencies ranged from the FBI and Drug Enforcement Agency to the country's tax collector, the IRS, and the Food and Drug Administration. https://blog.coinbase.com/coinbase-transparency-report-h2-2020-b8ef1632c4dc
John Kiff

NFTs: A Beginner's Guide to Understanding the Hottest Crypto Craze - 0 views

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    "This post is an introduction to NFTs, and a jumping off point for the more specialized posts in Latham's blog series on NFTs. This installment will explain what an NFT is and why people may start hearing a lot more about them. It will also preview some of the key legal issues that Latham lawyers will explore as a part of this series."
John Kiff

The average lifespan of a fiat currency isn't 27 years - 0 views

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    The "the average lifespan of a fiat currency is 27 years" idea has been showing up around the sillier corners of the internet for several years now. Economist and blogger JP Koning has done a brilliant job of finding exactly where this meme originally came from, and debunking it, in a comprehensive blog post last month.
John Kiff

Building an Effective System of Digital Identification - 0 views

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    "In previous blog posts, we've discussed the potential of a secure, reliable system of digital identification (digital ID), and examined some of the potential roadblocks to the widespread adoption of digital ID, but it's also worth considering what such a system would look like. What characteristics would define a truly effective system? What role would various stakeholders play? How would it interact with more "traditional" forms of identification?"
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