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John Kiff

Fiat Will Face Tough Competition & Could Even be Surpassed: IMF on "The Rise of Digital... - 0 views

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    In its latest paper "The Rise of Digital Money" that marks the launch of a new series Fintech notes, IMF analyses how technology companies are stepping up the competition to credit card companies and large banks.
John Kiff

IMF: Network Effects Could Spark Blaze of Digital Money Adoption - 0 views

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    The International Monetary Fund (IMF) has argued that network effects could spark the blaze for the mass adoption of new digital monies.
John Kiff

Roubini vs Hayes: A Breakdown of the Tangle in Taipei - 0 views

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    BitMEX has finally released the unedited video of its CEO, Arthur Hayes, debating noted economist, Nouriel Roubini, at the Asia Blockchain Summit earlier this month. The 53-minute long discussion ventured into uncomfortable territories of both the bitcoin and mainstream finance. While Roubini kept his focus on the criminal nature of cryptocurrencies and their evangelists, Hayes projected them as a means to promote financial privacy.
John Kiff

The development of Bitcoin futures: Exploring the interactions between cryptocurrency d... - 0 views

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    There have been significant pricing effects sourced from both fraudulent and regulatory unease within the industry. Bitcoin futures dominate price discovery relative to spot markets. CBOE futures are found to be the leading source of informational flow when compared directly to their CME equivalent
John Kiff

PayPal Expands its Money Transfer Service Xoom to 32 European Markets including Germany... - 0 views

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    PayPal launched Xoom-its international money transfer service-in 32 markets across Europe.
John Kiff

Leaked: India's Bitcoin Ban Bill Aims to Outlaw All Cryptocurrencies - 0 views

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    The "Banning of Cryptocurrency and Regulation of Official Digital Currencies" bill, which proposes to ban or heavily restrict all cryptocurrency-related activity in India, was leaked this week.
John Kiff

Bitcoin Maximalists Celebrate Ethereum's 'Demise' amid Founder's Scaling Concerns - 0 views

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    Scaling Ethereum without breaking it is a monumental task. Development roadmaps have regularly been delayed. Founder and Ethereum developer Vitalik Buterin thinks that the next era of Ethereum is at least a year off, but in the meantime, Bitcoin Cash may have all the properties needed to scale.
John Kiff

The Crypto Challenge: Boosting Institutional Trading in a Fast-Evolving Market - 0 views

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    What is still needed for institutional adoption to take place, say experts, is more cooperation among the rising number of firms that are jumping into the market, and a process of consolidation. How long all of that will take is a matter of some debate, but the market's early adopters are acting as if it will be sooner than later.
John Kiff

IRS Confirms It Trained Staff to Find Crypto Wallets - 0 views

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    The U.S. Internal Revenue Service (IRS) may consider subpoenaing major tech companies like Apple, Google and Microsoft in search of taxpayers' unreported cryptocurrency holdings.
John Kiff

Facebook answers how Libra taxes & anti-fraud will work - 0 views

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    In a wide-reaching series of interviews this week, the Libra Association's head of policy Dante Disparte, Facebook's head economist for blockchain Christian Catalini and Facebook's blockchain project subsidiary Calibra's VP of product Kevin Weil answered questions about regulation of Libra. Here's what we learned.
John Kiff

Senate Releases Opening Statements on Libra Ahead of Senate Hearing - 0 views

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    The United States Senate Banking Committee has released the opening statements of David Marcus, head of Facebook's crypto wallet Calibra today, July 15. The statements come ahead of a hearing on the Libra cryptocurrency project tomorrow in the Senate, in which Marcus will testify.
John Kiff

Facebook has 'a lot of work to do' on crypto plans, Mnuchin says - 0 views

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    "To the extent that Facebook can do this correctly, and can have a payment system correctly with proper AML [anti-money laundering measures], that's fine. But we have got a lot of work to do to convince us to get to that place."
John Kiff

Facebook's Cryptocurrency, Libra: Senate Banking Testimony - 0 views

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    The Senate Banking Committee staff reached out to Caitlin Long pursuant to her recent Forbes article on Libra. Here is her formal written testimony.
John Kiff

Proof-of-work blockchains and settlement finality: a functional interpretation - 0 views

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    In terms of settlement finality , subject to certain conditions, proof-of-work settlement is preferable to legal settlement finality. However, those conditions are not likely to be met as they pertain to the well-known drawbacks such as lack of scalability, excessive energy use and the 51% attack vulnerability. Future designs of new types of blockchains will need to consider these shortcomings in order to enable the regulated industry to benefit from this technology innovation.
John Kiff

Facebook tells Congress how it thinks Libra should be regulated - 0 views

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    Facebook will not launch the cryptocurrency Libra until it has "fully addressed regulatory concerns," according to David Marcus, the head of Facebook's Calibra. The remarks are prepared testimony he plans to give tomorrow, in front of the US Senate Banking Committee.
John Kiff

Libra's dramatic call to regulatory action - 0 views

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    Facebook's proposed creation of Libra is a wake-up call. It makes inescapable the need for rapid, international coordination of financial regulation. Without mechanisms to ensure consistent application of coherent global rules, we may find ourselves in a world full of "low-quality finance havens" that exist to evade financial regulations-just like "tax havens" that exist merely to evade taxes.
John Kiff

Canadian Securities Regulators Include DLT in 2019-2020 Business Plan - 0 views

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    "The Canadian Securities Administrators (CSA) are focusing on understanding and regulating distributed ledger technology (DLT) and its related components. The Canadian securities regulatory agency included a section on DLT and crypto assets in its Business Plan 2019-2022 that was published on July 13. "
John Kiff

Japan sets up working group on impact of Facebook's Libra ahead of G7 - 0 views

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    Japanese authorities have set up a working group to discuss the impact Facebook's proposed Libra digital coin could have on monetary policy and financial regulation, government sources said, ahead of a G7 finance leaders' gathering where the topic will be high on the agenda.
John Kiff

UK Royal Mint to Provide Custody for New Cryptocurrency - 0 views

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    The UK Royal Mint will provide crypto custodial services for the first time everand is participating in the launch of new crypto-asset temtum. TEM is a zero-fee P2P crypto-asset aimed at creating a "new world of financial freedom away from centralised institutions."
John Kiff

Subscribe to read | Financial Times - 0 views

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    The IMF is watching the growth of so-called stablecoins closely and today published a paper that identifies their benefits and risks, and highlights some regulatory issues that are likely to emerge.
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