Facebook Registers Secretive ‘Libra’ Cryptocurrency Firm in Switzerland

According to a Reuters report, Facebook registered a new company, Libra Networks, in Geneva on May 2. This coincides with the slow roll-out of their internal cryptocurrency that will define the company’s first foray into blockchain technology. Facebook Global Holdings is a stockholder in the new company and it will, according to Reuters, “provide financial […]

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SEC Slaps Blockchain Author Alex Tapscott, Firm With Fines Over Securities Violations

The U.S. Securities and Exchange Commission (SEC) has fined blockchain author Alex Tapscott and his investment firm NextBlock Global over securities violations. The SEC says that Canada-based NextBlock had been offering securities that were not registered with the SEC “in any capacity” and that false misrepresentations were made about the firm when soliciting investors. The […]

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Bitfinex: NYAG’s Order Is Hurting Our Customers and the Crypto Market

Bitfinex’s customers might suffer if it can’t access a line of credit from stablecoin issuer Tether, the exchange’s attorneys argued Sunday. In a new filing, attorneys Jason Weinstein and Charles Michael of Steptoe and Johnson, and David Miller and Zoe Phillips of Morgan, Lewis and Bockius, outlined a number of arguments for why a preliminary […]

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The Hidden Effects of Crypto Money Laundering Rules

Noelle Acheson is a veteran of company analysis and a member of CoinDesk’s product team. The following article originally appeared in Institutional Crypto by CoinDesk, a free newsletter for the institutional market with news and views on crypto infrastructure delivered every Tuesday. Sign up at the link below.  Ever since Emperor Vespasian held up a […]

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China’s New Policy Isn’t An Automatic Bitcoin Mining Ban – Here’s Why

The Takeaway: A draft proposal from China’s economic planning commission labels bitcoin mining as an industry that needs to be “eliminated.” But even if finalized in its current form, this would not automatically amount to an outright mining ban. While local governments are supposed to follow the commission’s guidance, to take action against an industry […]

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Pakistan Introducing Regulations, Licensing Scheme for Crypto Firms

Pakistan is putting in place regulations for the cryptocurrency industry. The Express Tribune, citing finance ministry sources, reported Monday that the nation’s federal government has decided to bring in Electronic Money Institutions (EMIs) regulations following recommendations from the Financial Action Task Force (FATF). While the new framework has not yet been made public, draft regulations from the country’s central […]

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Swiss Watchdog Rules Crypto Miner’s ICO ‘Seriously Violated’ Laws

Switzerland’s finance watchdog has found that the cryptocurrency mining firm Envion AG, which raised millions through an initial coin offering (ICO), held the sale illegally and “seriously violated” laws. Announcing the news on Wednesday, the country’s Financial Market Supervisory Authority (FINMA) said that Envion unlawfully received public deposits worth over 90 million francs ($90.33 million) […]

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Bitcoin Futures Volume Is More Significant Than You Think, Bitwise Says

The bitcoin futures market is far larger, relative to the spot market, than previously thought, says Bitwise Asset Management. In a wide-ranging report which claims 95 percent of all reported bitcoin trading volume is faked, Bitwise says that nevertheless, the bitcoin “futures market is significant” when viewed in light of the remaining, genuine 5 percent […]

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SEC’s Valerie Szczepanik at SXSW: Crypto ‘Spring’ Is Going to Come

The U.S. Securities and Exchange Commission’s Valerie Szczepanik is optimistic that regulation will ultimately boost the cryptocurrency market. “I do think if we hope to smell the crypto spring in the air, it will take people walking with the regulators,” Szczepanik, the SEC’s senior advisor for digital assets, told a crowd Friday at SXSW in […]

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London Stock Exchange Leads $20 Million Fundraise for Blockchain Startup Nivaura

Capital markets blockchain startup Nivaura has raised a total of $20 million with the closing of its second seed extension round led by the London Stock Exchange Group (LSEG). Announced today, other investors in the latest round include Santander InnoVentures, the Spanish bank’s VC arm; law firms Linklaters and Orrick; Transamerica Ventures, part of pensions and […]

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