Trump’s Currency War With China Could Be Bitcoin’s Do-or-Die Moment

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. The global economy faces its biggest crisis in 11 years. In theory, this should be bitcoin’s […]

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Senior CFTC Official Who Set Bitcoin Futures Policy Is Leaving: Report

The U.S. Commodity Futures Trading Commission (CFTC) is losing another senior level staffer. Bloomberg Law reports Friday that a number of sources have said Amir Zaidi, director of the CFTC’s Division of Market Oversight (DMO), is to leave the regulator within weeks. Zaidi had been in the post since early in 2017 and was the official responsible […]

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SBI Holdings’ Crypto Exchange Adopts New Tech to Help Meet FATF Standards

VC Trade, the Japan-based crypto exchange launched by SBI Holdings last year, is integrating new technology to help it comply with international customer verification standards issued by the Financial Action Task Force (FATF) in June. The solution is provided by blockchain security company CoolBitX, which has developed a wallet product based on its know-your-customer (KYC) and […]

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South Korean Watchdog Plans Direct Supervision of Crypto Exchanges

A South Korean financial watchdog under the Financial Services Commission (FSC) is planning to more closely supervise cryptocurrency exchanges. The agency in question, the Financial Intelligence Unit (FIU), has said it will directly regulate crypto trading platforms, which currently are indirectly controlled via guidance given to banks, says a report in Business Korea on Wednesday. For […]

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Global Regulators Warn on Privacy Risks of Facebook’s Libra

Data protection chiefs from across the globe have united to express concerns over the privacy risks posed by Facebook’s Libra cryptocurrency project. In a joint statement published on Monday by the U.K. Information Commissioner’s Office (ICO), data privacy commissioners from Australia, Albania, Burkina Faso, Canada, the EU, the U.K., the U.S., shared concerns that “while Facebook […]

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US Treasury Secretary Mnuchin Thinks Outlook for Bitcoin Is Bleak

U.S. Treasury Secretary Steven Mnuchin commented on cryptocurrency’s future viability, in an interview on Wednesday. “I can assure you I will personally not be loaded up on bitcoin in 10 years,” Mnuchin said on CNBC’s Squawk Box. “I would bet even in five to six years I won’t even be talking about bitcoin as Treasury […]

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Another Indian Crypto Exchange Shuts Down Blaming Banking Ban

Regulatory uncertainty ushered in by India’s central bank appears to have brought about the demise of another cryptocurrency exchange in the nation. In a Medium post published Thursday, the Koinex exchange says it’s been forced to shutter its services as a de facto ban on banking relationships for crypto firms – ordered by the Reserve Bank […]

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G7 Forming Task Force in Response to Facebook’s Libra Cryptocurrency

With the recent unveiling of Facebook’s Libra cryptocurrency raising regulatory questions, France is forming a task force within the Group of Seven (G7) nations to examine the issues. Reuters reports Friday, that the governor of the French central bank, Francois Villeroy de Galhau, indicated the crypto task force would be headed by European Central Bank board […]

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It’s FATF’s Way or the Highway for Crypto Exchanges. That’s a Big Mistake

Serhii Mokhniev, CAMS, is a regulatory affairs counsel at CEX.IO, a London-based bitcoin exchange. In a few weeks, the Financial Action Task Force (FATF) is expected to adopt a proposal to impose the standards of wire transfers on blockchain transactions. Despite concerns raised at a private sector consultative forum in Vienna, Austria, last month, the […]

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