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John Kiff

Libra announcement is forcing China's central bank into research its own digital currency - 0 views

www.cryptocurrencyguide.org/earch-its-own-digital-currency

Fintech CryptoAssets AltCoins Stablecoins Facebook CBDC

shared by John Kiff on 08 Jul 19 - Cached
  • John Kiff on 08 Jul 19
     
    Facebook's plans to create its own cryptocurrency have forced China's central bank into stepping up research into creating its own digital currency as Libra could potentially pose a challenge to Chinese cross-border payments, monetary policy and even financial sovereignty, Wang Xin, director of the PBOC's research bureau.
John Kiff

Singapore Proposes to Kill Double Taxation (GST) on Crypto-Assets - 0 views

www.iras.gov.sg/...Digital%20Payment%20Tokens.pdf

Fintech CryptoAssets Taxation

shared by John Kiff on 08 Jul 19 - Cached
  • John Kiff on 08 Jul 19
     
    The Inland Revenue Authority of Singapore is proposing to end the GST that is imposed on crypto-assets. Under the existing rules, users of crypto-assets are taxed twice when they use them to pay for goods and services. This is because the IRAS treats such a transaction as a barter trade that results in two separate cases of supply - a supply of the digital payment token as well as the supply of the services and goods paid for using the digital asset.
John Kiff

Bank APIs not ready for PSD2 deadline - 0 views

www.finextra.com/...ready-for-psd2-deadline---tink

Fintech OpenBanking

shared by John Kiff on 08 Jul 19 - Cached
  • John Kiff on 08 Jul 19
     
    With PSD2's Regulatory Technical Standards (RTS) deadline fast approaching, Swedish open banking platform Tink is claiming that European lenders have failed to provide the proper technology environment for third party providers to access payments data as required by the new law.
John Kiff

The Tangle in Taipei: Arthur Hayes vs Nouriel Roubini - 0 views

www.scribd.com/...rthur-Hayes-vs-Nouriel-Roubini

Fintech CryptoAssets

shared by John Kiff on 07 Jul 19 - No Cached
  • John Kiff on 07 Jul 19
     
    Nouriel Roubini debated Arthur Hayes of BitMEX - and BitMEX is refusing to release the full recording, instead releasing "edited highlights." Roubini is threatening to sue. However, Mike Dudas from The Block has posted his notes from the debate.
John Kiff

Lawyers warn of Facebook's Libra tax risks in Europe - 0 views

www.ft.com/...fc-99aa-11e9-8cfb-30c211dcd229

Fintech CryptoAssets AltCoins Stablecoins Facebook Taxation

shared by John Kiff on 07 Jul 19 - Cached
  • John Kiff on 07 Jul 19
     
    European Libra users will have to treat their Libra holdings as an asset for capital gains tax purposes - and for the UK, HMRC confirms that, as a basket of currencies, Libra doesn't qualify as a currency itself. "The problem would potentially be even more serious with no annual capital gains exemption in France, Italy or Spain and a much smaller €600 limit in Germany."
John Kiff

Libra Isn't a Cryptocurrency. It's a Glimpse of a New Asset Class - 0 views

www.coindesk.com/a-glimpse-of-a-new-asset-class

Fintech CryptoAssets AltCoins Stablecoins Regulation Facebook

shared by John Kiff on 07 Jul 19 - Cached
  • John Kiff on 07 Jul 19
     
    Even relatively simple fiat-backed stablecoins could be characterized as swaps or demand notes, both of which would be treated as securities. And the SEC's head of digital assets, Valerie Szczepanik, confirmed at a hearing last week that it does not matter that the stablecoin 'does not have an expectation of profits' (with the usual caveat of "facts and circumstances").
John Kiff

New Bitcoin Tax Rules To Boost Crypto Market Growth - 0 views

bitcoinist.com/-to-boost-crypto-market-growth

Fintech CryptoAssets Taxation

shared by John Kiff on 07 Jul 19 - Cached
  • John Kiff on 07 Jul 19
     
    The Token Taxonomy Act of 2019 would require amending US federal securities legislation to exclude crypto assets from the definition of a security, and to create a de minimis exemption from taxation for gains realized from the sale or exchange of virtual currencies.
John Kiff

Facebook's Libra Lacks Foundational Components for Crypto Key Security - 0 views

www.coindesk.com/onents-for-crypto-key-security

Fintech CryptoAssets AltCoins Stablecoins Facebook

shared by John Kiff on 07 Jul 19 - Cached
  • John Kiff on 07 Jul 19
     
    A review of their technical documentation describing the Libra protocol and the associated ecosystem, reveals that they left out the foundational components of user security: Protection of the private key, proof of user consent, decentralized compliance and global privacy.
John Kiff

US SEC seeks blockchain data provider to monitor risk, improve compliance, and inform p... - 0 views

www.fbo.gov/index.php

Fintech CryptoAssets Blockchain Regulation

shared by John Kiff on 06 Jul 19 - Cached
  • John Kiff on 06 Jul 19
     
    The U.S. Securities and Exchange Commission (SEC) is getting ever more serious about blockchain data, as it seeks more data on public blockchains.
John Kiff

Avoid State Taxes on Crypto With US Supreme Court's Recent Trust Decision? - 0 views

cointelegraph.com/...e-courts-recent-trust-decision

Fintech CryptoAssets Taxation

shared by John Kiff on 06 Jul 19 - Cached
  • John Kiff on 06 Jul 19
     
    In North Carolina Dept. of Revenue v. Kimberley Rice Kaestner 1992 Family Trust, the U.S. Supreme Court unanimously said that a state could not tax out-of-state residents on trust income without minimum contacts.
John Kiff

CME Group set to alter its reference rate for Ether, and it could mean the exchange is ... - 0 views

www.theblockcrypto.com/...e-is-getting-ready-for-futures

Fintech CryptoAssets AltCoins Ethereum fu

shared by John Kiff on 06 Jul 19 - Cached
  • John Kiff on 06 Jul 19
     
    CME Group is set to make changes to its reference rate and index tied to ether. Sources say it could mean a future tied to the crypto is coming to its marketplace.
John Kiff

A Monetary Review of Project Libra - Part 1: The Libra Reserve - 0 views

hackernoon.com/the-libra-reserve-eb3a5d6c76d5

Fintech CryptoAssets AltCoins Stablecoins Facebook

shared by John Kiff on 06 Jul 19 - Cached
  • John Kiff on 06 Jul 19
     
    This article seems to sppeculate that the Libra Association will effectively run open market FX operations to maintain the stability of the Libra against the currency basket. Although the article doesn't mention it, I guess it's implicit that the huge cash balances of Facebook ($50B+) and other Association members are in effect FX reserves for these purposes.
John Kiff

ZenGo Introduces Non-Custodial, Keyless Competitor to Calibra Wallet - 0 views

www.coindesk.com/s-competitor-to-calibra-wallet

Fintech CryptoAssets AltCoins Stablecoins Facebook

shared by John Kiff on 06 Jul 19 - Cached
  • John Kiff on 06 Jul 19
     
    The developers at ZenGo, an Israeli startup that recently released a keyless, non-custodial retail wallet, just published open source code for Libra's first non-custodial wallet, just two weeks after Facebook's announcement.
John Kiff

Google's balloon project has a new test: Providing Internet access to 'mountainous vill... - 0 views

www.washingtonpost.com/...ss-mountainous-villagers-kenya

Fintech MobileMoney

shared by John Kiff on 05 Jul 19 - Cached
  • John Kiff on 05 Jul 19
     
    "There is no longer any doubt that high-altitude balloons can be used to provide cellular service to remote locations or places reeling from natural disaster. The question for Loon - an Internet-providing balloon service owned by Alphabet, Google's parent company - is whether that technology is commercially viable."
John Kiff

Bitcoin: Welcome to Bitfinex's Second Tether Bubble - 0 views

medium.com/...ond-tether-bubble-29e69126257e

Fintech CryptoAssets AltCoins Stablecoins Tether Bitfinex

shared by John Kiff on 05 Jul 19 - Cached
  • John Kiff on 05 Jul 19
     
    Our previous post in November last year provided compelling empirical evidence that USDT printing was used by Bitfinex to manipulate the BTC/USD price upwards during the fourth quarter of 2017. And until the current allegations are proved one can only conjecture, but we conclude that the crypto market is now entering its second tether bubble.
John Kiff

The Biggest Cybersecurity Crises of 2019 So Far - 0 views

www.wired.com/...bersecurity-crises-2019-so-far

Fintech CyberRisk

shared by John Kiff on 05 Jul 19 - Cached
  • John Kiff on 05 Jul 19
     
    "SIX MONTHS OF 2019 are on the books already, and certainly there have been six months' worth of data breaches, supply chain manipulations, state-backed hacking campaigns, and harbingers of cyberwar to show for it. But the hallmark of 2019, perhaps, is feeling like the worst is yet to come. Ransomware is an ever-growing threat, corporate and US government security is still a mess, and geopolitical tensions are rising worldwide."
John Kiff

Does Digital Leadership in Banking Really Matter? - 0 views

www.accenture.com/...ital-banking-leadership-matter

Fintech

shared by John Kiff on 05 Jul 19 - No Cached
  • John Kiff on 05 Jul 19
     
    The US$1 trillion that traditional retail and commercial banks have invested globally over the past three years to transform their IT operations has not yet delivered the anticipated revenue growth, according to a new report from Accenture.
John Kiff

Tezos Lands $1 Billion Security Token Deal with Major Brazilian Bank - 0 views

www.ccn.com/...05

Fintech CryptoAssets Tokenization ICOs STOs

shared by John Kiff on 05 Jul 19 - Cached
  • John Kiff on 05 Jul 19
     
    Banco BTG Pactual will with Dubai's Dalma Capital to host a deal pipeline of $1bn for existing and future prospective security token offerings. They plan to utilize the Tezos blockchain, which will include a range of tokenized traditional and alternative investments.
John Kiff

The Bank of Japan has no plans to issue digital currency - 0 views

www.reuters.com/...gital-currencies-idUSKCN1U009Y

Fintech CryptoAssets AltCoins CBDC

shared by John Kiff on 05 Jul 19 - Cached
  • John Kiff on 05 Jul 19
     
    Deputy Governor Amamiya said the BOJ has no plans to issue digital currencies for now, partly due to uncertainties over how it affects conventional commercial banking. He also brushed aside the idea that central banks can boost the effectiveness of negative interest rate policies by issuing digital currencies, as it would require the elimination of cash.
John Kiff

Banks Around The World Dabbling in Crypto with Their Own Coin - 0 views

fintechnews.ch/...29152

Fintech CryptoAssets AltCoins Stablecoins MobileMoney

shared by John Kiff on 05 Jul 19 - Cached
  • John Kiff on 05 Jul 19
     
    JPM Coin (JP Morgan), USC (UBS and twelve others), J Coin (Mizuho and a consortium of Japanese banks), MUFG Coin (Bank of Tokyo-Mitsubishi UFG), and Signet (NY-based Signature Bank).
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