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BRUSSELS (Reuters) - Private digital currencies like Facebook’s Libra should not be allowed in the European Union until the risks they could pose are clearly addressed, EU finance ministers agreed on Thursday. The move confirms the bloc’s tough line on Libra, which has attracted criticism from global regulators over its possible impact on the financial system since it was announced...
Eight former core developers from financial services company Morgan Stanley have launched Phemex, a new cryptocurrency derivatives trading platform, in Singapore. In a press release shared with Cointelegraph on Dec. 4, the former Morgan Stanley developers claim the platform is ten times faster than traditional crypto trading platforms, while offering 100x leverage to both retail and institutional investors in Bitcoin...
A couple of United States lawmakers are looking to classify stablecoins as securities. With Libra considering adopting fiat-pegged stablecoins rather than a single token supported by a basket of national currencies, the proposed crypto project might be facing yet another regulatory hurdle. Meanwhile, lawmakers sponsoring the bill say stablecoins should be classified as securities to protect U.S. consumers. If passed,...
JPMorgan Chase — whose CEO, Jamie Dimon, once notably expressed skepticism over cryptocurrency — was actually one of the first financial institutions to “learn to love the blockchain.” In 2015, the bank created a division dedicated to exploring emerging technology such as blockchain. We were two of the first members of the JPMorgan blockchain team. We built some of its...
Dan Schulman, CEO of payment processor PayPal, revealed during an interview that he does indeed own Bitcoin (BTC). On Nov. 20, Fortune reported that PayPal CEO Dan Schulman stopped by its offices where he discussed a variety of topics, including the reason for PayPal’s withdrawal from the Libra Association and whether he is the proud owner of any cryptocurrencies. PayPal...
German regulator federal financial supervisory authority (BaFin) issued a warning against Bulgarian cryptocurrency broker 5 Capital on Nov. 11. The regulator has barred 5 Capital from operating in the country since the firm illegally offered Contracts for Difference (CFDs) designed to expose clients to the price movements of cryptocurrencies. Operating without license The regulator found that the company provided the...
Canaan, the world’s second-largest bitcoin miner maker, intends to raise about $100 million in its initial public offering (IPO) in the U.S. The Hangzhou, China-based manufacturer of the Avalon bitcoin miner updated its IPO application with the U.S. Securities and Exchange Commission (SEC) on Wednesday. It’s aiming to offer 10 million American depositary shares (ADS) with each at a price...
China Takes U-Turn on Cryptocurrency Mining Policies This week, China’s National Development and Reform Commission (NDRC) quashed plans to abolish cryptocurrency mining throughout the nation. The country currently hosts four of the largest mining pools in the world, and officials had pledged back in April to eliminate virtual currency mining. China Hosts the Four Largest Mining Pools On Earth Collectively,...
Facebook introduced Facebook Pay, which will provide people with a convenient, secure and consistent payment experience across Facebook, Messenger, Instagram and WhatsApp. People already use payments across our apps to shop, donate to causes and send money to each other. Facebook Pay will make these transactions easier while continuing to ensure your payment information is secure and protected. With Facebook...
Australian law enforcement arrested an unnamed 38-year-old Australian man for performing unregistered cryptocurrency transactions. The police department of Victoria announced on Nov. 12 that the man has been arrested at his address in the town of Cairnlea. The joint report from the Victoria Police and Australian Transaction Reports and Analysis Centre (AUSTRAC) reads: “Detectives from the E-Crime Squad have arrested...
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