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John Kiff

Data Shows Cryptoasset Sell-off Was Driven by Short-term Holders - 0 views

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    Coinmetrics took a deep dive into on-chain and market data to analyze the aftermath of the recent historic crypto crash. On-chain data shows that it was likely mostly driven by shorter-term and relatively new holders. Long term holders appear unfazed.
John Kiff

Bitcoin Miners Aren't Responsible for Recent Price Dips, Data Shows - 0 views

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    "Miners are selling" is a popular trope used to explain bitcoin's occasional downward price action. But on-chain data doesn't support this narrative, according to analysts and mining pools themselves. After bitcoin's correction earlier this week to the tune of nearly 30%, miners were a popular scapegoat. But miners have been extremely consistent in their selling habits for months, according to network data collected by Glassnode and analyzed by CoinDesk.
John Kiff

Visa R&D Arm Develops a Blockchain System That Could Replace Financial Data Aggregators - 0 views

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    Visa has developed a blockchain system called LucidiTEE that could upend how banks transfer customer transaction data to consumer financial applications like Mint and Credit Karma.
John Kiff

Working group of U.S. crypto firms unveil their data-sharing solution to FATF 'travel r... - 0 views

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    Twenty-five U.S.-based virtual asset providers (VASPs) have come together to publish a white paper on an industry-wide solution to travel rule compliance. The solution takes a centralized approach, setting up a "bulletin board" to locate counterparty information and point-to-point information transmission for the required data. In essence, the U.S. Travel Rule Working Group (USTRWG) is proposing a kind of hub through which they can identify customer information and use point-to-point communication channels to transmit that data.
John Kiff

Reserve Bank of Australia gets 'data bunker' project underway - 0 views

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    The Reserve Bank of Australia has reportedly gone to market for help with standing up a "data bunker", which it said forms part of its ongoing efforts to improve the resilience of the country's payment system. The successful vendor, as the systems integrator, will be charged with planning and designing the bunker; building and implementing it, along with supporting components; and running the bunker, including developing operational procedures, policies, and tools for the first year of its operation.
John Kiff

New correspondent banking data - the decline continues at a slower pace - 0 views

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    The 2019 data confirm that correspondent banking relationships continue to contract in number. Despite the worldwide decline, they continue to play a pivotal role for cross-border payments. The statistics cover monthly payment message data for more than 200 countries and jurisdictions from 2011 to 2019. It found that the number of active correspondent banks worldwide fell by about 3% in 2019 and about 22% between 2011 and 2019. However, the volume and value of cross-border payments continued to grow over the last eight years, suggesting a higher concentration in payment flows.
John Kiff

API standards for data-sharing (account aggregator) - 0 views

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    This BIS Consultative Group on Innovation and the Digital Economy (CGIDE) report presents three models for data sharing: centralised, decentralised and trust - and develops the user interactions and their data flows. Additionally, the report presents account aggregator functionality and possible arrangements for implementation in the open finance ecosystem. Finally, it shows the successful implementation of a demo based on a microservices architecture that promotes high availability, scalability and resilience.
John Kiff

Buy Now, Pay Later: Market trends and consumer impacts - 0 views

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    The U.S. Consumer Financial Protection Bureau (CFPB) published research on the U.S. Buy Now, Pay Later (BNPL) market, based on data from Affirm, Afterpay, Klarna, PayPal, and Zip Co. It identifies several benefits of BNPL loans over legacy credit products (no interest and sometimes no late fees, and ubiquitous, easy to access, simple repayment structure) and a number of potential consumer risks (a requirement to use autopay for all loan payments, data harvesting and borrower overextension).
John Kiff

FSB consults on cross-border payment legal, supervisory and regulatory frictions - 0 views

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    The Financial Stability Board (FSB) published its proposed recommendations to promote greater alignment in data frameworks related to cross-border payments and consistency in the regulation and supervision of bank and non-bank payment service providers. They take forward priority actions under the G20 Roadmap to address legal, supervisory and regulatory frictions in cross-border payments to help achieve the quantitative targets in 2027. Proposals include the establishment of a forum for cross-sectoral collaboration on data issues related to cross-border payments to ensure that the recommendations are taken forward in a coordinated manner.
John Kiff

Project Keystone: data analytics for ISO 20022 - 0 views

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    The Bank for International Settlements (BIS) Innovation Hub London Centre and the Bank of England launched Project Keystone that aims to develop a standardized data analytics platform focused on ISO 20022 data. The increased use of ISO 20022 standards for payment messages in real time gross settlement (RTGS) systems means many central banks will adopt the protocol in the coming years. Ninety-three percent of payment system operators have already either implemented ISO 20022 or are working to implement it in their systems.
John Kiff

What's preventing WhatsApp Pay's full-fledged launch in India? - 0 views

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    WhatsApp Pay is still not compliant with data regulations in India. As per the Reserve Bank of India's norms, payment firms must store all their data locally.
John Kiff

RBI: WhatsApp yet to comply with data localisation norms - 0 views

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    The Reserve Bank of India (RBI) has said that the popular messaging platform WhatsApp is not in compliance with the central bank's data localisation norms in India. RBI's comments come as response in an affidavit, reviewed by TOI, filed with the SC on Wednesday after the apex court made the central bank a party to a writ petition in January.
John Kiff

Privacy 'poisoning' poses threat to companies using blockchain - 0 views

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    A "privacy "poisoning" the cyber attack involves loading private data, such as names, addresses and credit card numbers, or illegal material, such as child pornography, into a blockchain, therefore putting the network in conflict with local laws, making the affected chain and its data useless.
John Kiff

Self Sovereign Identity Promises to Return The Power of Personal Data Protection to the... - 0 views

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    Self-sovereign identity promises to return personal data to the people providing it rather than letting it sit precariously in the hands of businesses that have repeatedly failed to secure it.
John Kiff

From lock-in to loyalty: Self-Sovereign Identity & Data Portability - 0 views

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    Combining a self-sovereign digital identity system with a system of consent receipts not only ensures that a company handles its customers' personal data correctly, but also that a company can now recognise its customers no matter what products they buy.
John Kiff

The Use of Cash-Flow Data in Underwriting Credit: Empirical Research Findings - 0 views

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    This report provides a detailed summary of our applied research based on data from six non-bank financial services providers - Accion, Brigit, Kabbage, LendUp, Oportun, and Petal - that have begun using cash-flow variables and scores in an effort to increase the provision of credit to consumers and small businesses who may have difficulty obtaining loans from traditional sources.
John Kiff

Swiss data watchdog awaits details on Facebook crypto plan - 0 views

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    Libra has not responded to an information request by the Swiss Federal Data Protection and Information Commissioner, looking for more details to help define its oversight role over the proposed digital currency.
John Kiff

Central banks need better crypto asset data to contain risk - ECB research - 0 views

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    Central banks around the world need to bridge the existing data gap on crypto assets to better contain future financial risks arising from them, according to research published today by the European Central Bank.
John Kiff

ECB Says It's Ramping Up Crypto Surveillance to Include Off-Chain Data - 0 views

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    The ECB says the "central banking community" will refine its monitoring of crypto transactions, both on- and off-chain. In an Aug. 7 report the ECB argues that "closing the data gaps associated with crypto-assets" continues to pose a significant challenge for regulators and financial institutions.
John Kiff

Catalonia Government to Build DLT-Based Identity Platform for Citizens - 0 views

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    The government of Catalonia has announced it will develop a DLT-based identity platform aimed to give citizens control of their own data when interacting with online services. The Catalan government will act as the validator for the network, but it will not collect users' personal data.
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