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John Kiff

FINMA Grants License to Two New Crypto Banks - 0 views

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    For the first time, FINMA has issued banking and securities dealers' licences to two pure-play blockchain service providers - SEBA Crypto AG and Sygnum AG, which will offer services for institutional and professional customers.
John Kiff

FINMA Grants License to 2 New Crypto Banks, Brings Strict AML Laws - 0 views

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    The Swiss financial regulator issued banking and securities dealers' licenses to two "pure-play blockchain service providers - SEBA Crypto AG and Sygnum AG.
John Kiff

Banks in China Are Increasingly Partnering with BigTechs - 0 views

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    According to an analysis by Chinabankingnews.com, at least ten commercial banks in China have inked partnership deals with tech or fintech companies since the beginning of the year.
John Kiff

Libra Association members refuse to public support Facebook's cryptocurrency plan - 0 views

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    Most of Libra's founding members are refusing to publicly support it. Mastercard, Uber, and PayPal are ignoring inquiries as to whether they are still committed to Libra. Only two of them agreed to answer questions from Business Insider about their support.
John Kiff

Internal Revenue Service Sends New Round of Letters to Crypto Holders - 0 views

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    "Last week, the United States Internal Revenue Service sent another round of letters to crypto traders called CP2000. These notices were sent to traders of some crypto exchanges due to inconsistencies found in their tax reports."
John Kiff

Bitcoin Exchange Binance Aims to Disrupt Female 'Period Poverty' - 0 views

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    Binance Charity Foundation has introduced Pink Care Token, a blockchain-powered stablecoin pegged to one year's supply of sanitary pads, "empowering women in underdeveloped countries to improve overall health and well-being."
John Kiff

Competing Stablecoins Can't Topple Tether - 0 views

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    Tether is to stablecoins what Bitcoin is to altcoins, but whereas bitcoin's dominance stands at 62%, Tether is capturing 98% of all stablecoin volume, despite the numerous, and some say more trustworthy, alternatives.
John Kiff

BaFin publishes summary of current regulation - 0 views

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    On Aug. 16, the BaFin published a leaflet for issuers of crypto tokens that summarized current German legal standards in the field. By condensing active regulations in such a fashion, the BaFin reportedly hopes to encourage compliance among a new wave of ICOs.
John Kiff

Facebook's Libra is an attempt to mask a promise as a token - 0 views

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    In mimiciking MMMFs, Libra replicates their moral hazard: the MMMFs became too big to fail and many were bailed out. Central bankers wished they had followed the logic that if it looks like a duck, walks like a duck, it's a duck (bank). They should not make the same mistake with Libra.
John Kiff

Bridging the divide - 0 views

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    "The financial institutions that have invested in Fnality know liquidity management and settlement processes must take a quantum leap to rein in the current inefficiencies, market fragmentation and counterparty risks. These banks accept the need for change and are exploring the potential of technology, by holding tokenised assets on a blockchain to trade and settle with near-instant finality. "
John Kiff

Equilibrium Bitcoin Pricing - 0 views

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    "We offer an overlapping generations equilibrium model of cryptocurrency pricing and confront it to new data on bitcoin transactional benefits and costs. The model emphasizes that the fundamental value of the cryptocurrency is the stream of net transactional benefits it will provide, which depend on its future prices."
John Kiff

The fundamental drivers of cryptocurrency prices - 0 views

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    The column argues that there are two fundamental factors that drive prices in the long run: the trustworthiness of the crypto's blockchain and the adoption of the blockchain. Cryptos such as Bitcoin, Ethereum, and Monero are affected by these fundamentals. In some periods prices deviate, but eventually retrace the trend.
John Kiff

Bitcoin Miners Are Heating Homes Free of Charge in Frigid Siberia - 0 views

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    "Hotmine CEO Oles Slobodenyuk couldn't have picked a better place to pitch his product: a bitcoin mining rig that doubles as a home heating appliance."
John Kiff

Republic of Mauritius- MauCAS to pave the way for new electronic payment options, says PM - 0 views

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    Mr Jugnauth reiterated his vision of a cashless society to better secure financial transactions in Mauritius. MauCAS will be a real boost to e-commerce with its 24/7 payment system, he pointed out. The Prime Minister also announced the upcoming introduction of a "Central Bank Digital Currency".
John Kiff

Mark Carney calls for global monetary system to replace the dollar - 0 views

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    BoE Governor Mark Carney is suggesting that more thought should be given to creating a global electronic currency that could act as "synthetic hegemonic currency provided perhaps through a network of central bank digital currencies".
John Kiff

MoneyGram Making XRP A Hit in Mexico - 0 views

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    Since the partnership with MoneyGram, the XRP market in Bitso (Mexico) has been steadily growing.
John Kiff

Central Banking Survey on CBDC Issuance Plans - 0 views

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    The majority of respondents believe central banks should issue CBDCs. A total of 29% of respondents say CBDCs should be limited to wholesale purposes; while 24% favour CBDCs at the retail level. However, a 43% say central banks should steer clear of them altogether.
John Kiff

Strategy for Fintech Applications in the Pacific Island Countries - 0 views

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    A new IMF paper discusses how fintech solutions in the Pacific islands can complement existing efforts to promote financial inclusion, enhance financial sector development, and increase inclusive growth potential, thereby reducing poverty.
John Kiff

Fintech, Fiber-optics, and Financial Inclusion - 0 views

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    A new IMF paper discusses how fintech solutions in the Pacific islands can complement existing efforts to promote financial inclusion, enhance financial sector development, and increase inclusive growth potential, thereby reducing poverty.
John Kiff

Crypto Taxation Around the Globe - What Do Regulations Look Like? - 0 views

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    Crypto is a matter of concern for a number of tax departments around the world - primarily because they provide people with an avenue for commerce that expands beyond today's existing financial systems. So, here are some crypto-centric economic frameworks that are being used by countries across the globe.
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