The biggest tech breakthroughs of the last decade December 18, 2019 It is easy to forget, as we approach the end of not just 2019 but also the decade, just how far technology has developed over the past 10 years. To mark the end of the era, City A.M. asked several experts for what they think have been the biggest technological breakthroughs or advancements made in [...]
Too much regulation on bitcoin and cryptocurrency could scare away future tech innovators December 9, 2019 Back in October, the FCA closed its consultation on banning the sale of cryptocurrency derivatives to retail investors. A consultation that I hope will start a collaborative discussion, bringing crypto and its regulatory framework up to speed with the rapid growth of the industry. Thankfully, the FCA’s approach so far has been inclusive and forward-thinking. [...]
White collar crime prosecutions fall despite jump in reported offences December 9, 2019 The number of white collar crime prosecutions in the UK has fallen to its lowest level in five years, according to figures published today. Prosecutions fell 14 per cent to 6,670 last year, from 7,790 in 2017, research from Thomson Reuters showed. White collar crime includes offences such as money laundering, fraud, insider trading and [...]
Would libra have more success if it wasn’t launched by Facebook? November 11, 2019 At the World Blockchain Forum in September, one of the speakers asked who in the audience thought that libra was likely to succeed in taking cryptocurrencies mainstream. About half the room raised their hands. He then continued: “Who wants it to be Facebook that achieves this?” All hands were hastily lowered. It comes as no [...]
Can cryptocurrencies wean the world off the US dollar? October 17, 2019 There has been a huge shift in the global economy over the past 60 years. The US is still one of the biggest economic forces around the globe, but its influence on the world stage has waned as emerging economies have developed. The US accounted for as much of 40 per cent of the world’s gross [...]
Bank of England sets out strict regulatory conditions for Facebook Libra October 9, 2019 The Bank of England (BoE) has set out the rules of engagement that Facebook’s Libra cryptocurrency and other similar digital payment providers would have to satisfy before they can launch in Britain. “Libra has the potential to become a systemically important payment system,” the BoE’s Financial Policy Committee (FPC) said in a policy statement released [...]
Cryptocurrency probes rise October 7, 2019 Investigations by the City watchdog into cryptocurrencies have climbed sharply in the last year amid a growing effort to tackle fraud in the sector. The Financial Conduct Authority (FCA)’s number of live probes into cryptocurrency businesses jumped 74 per cent to 87 in the last 12 months. Read more: Rising recession risk frightens business According [...]
‘Calling BS’: Libra co-founder hits out at secrecy claims October 2, 2019 The co-creator of Facebook’s new cryptocurrency has hit out at claims that the organisation did not share detailed information on how to tackle crime with its members. David Marcus, a Facebook executive who is overseeing the Libra project, said he was “calling BS” [bullshit] on claims in the Wall Street Journal that Libra kept information [...]
The SEC vs Kik: The clarification crypto has been waiting for? September 25, 2019 Frustrations continue to ricochet through a crypto community yet to receive a clear legal framework that supports innovation of blockchain technology. Though effective, public policy has proven to be a slow pathway for change. In the context of digital tokens, a majority of the community asserts that policy has merely stretched the definition of a [...]
Brits curious about cryptocurrencies but still keen on cash, survey finds September 18, 2019 Members of the public are curious about the possibilities offered by cryptocurrencies, but cash is likely to remain king for the foreseeable future with the vast majority consumers wanting it to remain in use, a new study has found. Just 20 per cent of British people would prefer it if cash no longer existed, according [...]