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Regulation and monetary policy
PayPal Sues Consumer Protection Agency for ‘Confusing’ Digital Wallet Rules
The digital payments giant filed a lawsuit against the CFPB on Dec. 11, arguing that the agency has ignored critical differences between digital wallets and prepaid products like prepaid debit cards (GPR).
After BottlePay, Two More Crypto Firms Shut Down Due to Upcoming EU Rules
After BottlePay’s shutdown announcement last week, two more European cryptocurrency firms have shut down because of the upcoming Anti-Money Laundering (AML) rules in the European Union.
Online crypto gaming platform ChopCoin and mining pool Simplecoin both announced that they are shutting down in under a month in a notice on their website. Both firms cite the EU’s upcoming Anti-Money Laundering Directive that would require the firms to adopt Know Your Client (KYC) measures as the reason for shutting down.
Crypto Regulation: Is It Good or Bad for the Industry?
Some crypto advocates insist it is good for the industry, paving the way for mainstream adoption among consumers and businesses alike. Others warn a legal framework will only end in tears — stifling innovation and putting digital currencies at a disadvantage to fiat, which central banks remain determined to protect.
Int'l Regulator Basel Committee Calls for Prudent Rules for Crypto
Global banking regulator Basel Committee on Banking Supervision (BCBS) calls for a conservative prudential treatment framework for crypto assets.
The Basel Committee — which includes banking regulators from the United States, Europe and Japan — published its report on the prudential treatment of crypto assets.
Crypto Regulation Is Coming To Europe: Are Exchanges Ready for New Rules?
5AMLD — the Fifth Anti-Money Laundering Directive — is a piece of legislation that brings fiat-to-crypto exchanges and custodial wallets across the European Union under a new first-of-its-kind regulatory framework. Exchanges must achieve compliance with the rules by January 10, 2020. Time is ticking away, causing some exchanges to scramble, while others stand ready to roll out compliance procedures.
Chinese Crypto Fitness App Reportedly Under Investigation for Fraud
A Chinese cryptocurrency fitness app has reportedly been placed under investigation for allegedly illegal fundraising practices and financial fraud.
France’s Financial Regulator Grants Country’s First Approval for an Initial Coin Offering
The hype around initial coin offerings may have quieted down in the States, but France seems to be taking a newfound interest. On Dec. 17th, France’s financial regulator, the Autorité des Marchés Financiers (AMF), granted the country’s first approval for an ICO application.
Competitors*Tether Sponsors New Version of Bitcoin Tokenization Layer Omni*
In a press release shared with Cointelegraph on Dec. 15, the companies announce the release of Omni Core 0.7.0, the development of which was sponsored by Tether. The new version reportedly enhances network performance and fixes locking issues and Remote Procedure Calls. The Omni protocol is a system running on the Bitcoin network that allows the creation of tokens on what is widely believed to be a secure network. Omni is also the platform that hosted the first USDT tokens.
OKEx Debuts Dai Stablecoin Staking Bonus as Tether Dwarfs Volumes
Malta-based cryptocurrency exchange OKEx has added support for a new feature that allows users of stablecoin Dai (DAI) to earn interest by staking their holdings.
Nonetheless, in terms of overall volumes, Dai, along with all the other stablecoins on the market, pales in comparison to stalwart Tether (USDT).
Circle Organizes for Stablecoin Platform Focus in 2020
Circle is approaching 2020 with a deep focus on stablecoin globally, dollars on public blockchains (USDC) specifically, and the powerful possibilities they unlock for people, businesses and governments all around the world.
USDS Smart Contract Migration Announcement for Q1 2020
Beginning in February 2020, Stably will officially migrate USDS users from our current ERC20 smart contract to an improved smart contract
New Enhancements to the Gemini Mobile App
Gemini introduces Gemini for Apple Watch and Android Wear, pricing widget, and dark mode support.
Analytics and opinions*Stablecoins: What They Are and Why They Are Inevitable*
In a recent interview, Patrick Harker, the president of the Federal Reserve Bank of Philadelphia, said that stablecoins are “inevitable.”
The Modern Great Game — Facebook’s Libra Project
Since Facebook’s digital currency project, Libra, was announced in June, there has been a growing chorus of central bankers and policy makers pushing back against its ambitions. Germany’s Vice Chancellor Olaf Scholz and France’s Finance Minister Bruno Le Maire have both, separately, made it clear that they are not impressed with Libra and that the issuance of currency is the exclusive duty of the state and intrinsic to the sovereignty of a nation. The irony of this stance is apparently lost on both men, as neither France nor Germany have issued their own currency since 1999.
Private Payment System for Central Bank Digital Currency Possible, Says ECB
Recent research by the European Central Bank (ECB) claims that it is possible to develop a central bank digital currency (CBDC) payment system that protects user privacy.
Per the report dubbed “Exploring anonymity in central bank digital currencies,” the European System of Central Banks (ESCB) established a proof-of-concept (PoC) for anonymity in CBDCs, which came as part of its ongoing research of CBDCs and their potential benefits to the public. The dedicated PoC was developed in collaboration with tech companies R3 and Accenture.
Latest analytics shows 64% of controversial stablecoinUSDt supply controlled by 119 addresses