Former Softbank spinoff plugs $23m into crypto startup Elliptic September 4, 2019 Elliptic, which provides crypto-asset risk management solutions for crypto businesses and financial institutions, has today secured $23m in investment from Tokyo giant SBI Group. Albion VC also joined the round, alongside existing investors Signalfire, Octopus Ventures and Santander’s venture capital arm. SBI Group was formerly part of Japanese mega investor Softbank, before fully separating from [...]
Forget what you’ve heard, Facebook’s libra can help in the fight against money laundering September 3, 2019 The cost of anti-money laundering (AML) protocols and procedures for businesses is well-documented. Financial institutions sink billions each year into technology to identify suspicious activity and prevent their services being used for illegal transactions. Despite these efforts, money laundering remains big business, representing around five per cent of global GDP. That’s larger than the entire [...]
Facebook’s libra cryptocurrency could undermine European Central Bank September 2, 2019 The European Central Bank (ECB) has warned that Facebook’s plans to create a new currency could undermine its powers to set monetary policy. ECB board member Yves Mersch said this morning that the social media giant’s proposed currency, Libra, could potentially reduce the body’s control over the euro. Read more: What is Facebook libra? Your [...]
Facebook libra: Could regulators crush Mark Zuckerberg’s dream cryptocurrency? August 27, 2019 Mark Zuckerberg’s decision this summer to launch a digital currency – Facebook libra – sparked the interest and concern of regulators around the world. Watchdogs have warned that without tight regulations libra could be used for money laundering and financing terrorism. They have also raised concerns over the potential risks it poses to data protection [...]
Barclays stops banking cryptocurrency exchange Coinbase August 14, 2019 Barclays is no longer providing banking services for cryptocurrency exchange Coinbase, according to reports by Reuters. The bank had been providing services to Coinbase since the exchange’s European expansion in March last year, making it easier for its users to purchase cryptocurrencies with sterling and withdraw funds. Coinbase, which is based in San Francisco, brokers [...]
Privacy regulators ‘concerned’ by Facebook’s Libra cryptocurrency August 5, 2019 The UK information commissioner has joined global regulators in worries over Facebook’s plans to launch its own cryptocurrency. Elizabeth Denham said she was “concerned” over the lack of detail on how Facebook and its partners will handle personal information. Read more: Facebook’s libra cryptocurrency ‘poses global currency threat’ The social network’s role is considered particularly [...]
Facebook’s libra cryptocurrency ‘poses global currency threat’ August 2, 2019 Facebook’s new cryptocurrency libra poses a threat to global financial policy, according to former Bank of Japan executive Hiromi Yamaoka. Worldwide, Facebook has over 2.4bn active monthly users and, should a significant proportion of these start using Facebook’s new currency, Yamaoka warned that this could significantly devalue trade and monetary policies globally. Read more: MP’s [...]
Bailey’s FCA is in need of a remit reboot August 2, 2019 Several months ago it felt as if the top job in Britain’s banking system was Andrew Bailey’s to lose. A veteran of Threadneedle Street who is at ease among top City bosses, the head of the City watchdog has been the bookies’ favourite to replace Mark Carney as governor of the Bank of England as [...]
What chance do Initial Exchange Offerings stand against the SEC? July 30, 2019 As American Psycho would probably say, Initial Exchange Offerings are akin to Dorsia – currently the trendiest restaurant in town that everyone is trying to get a table at. While Initial Coin Offerings (ICO’s) had the title in 2017, authorities soon caught up in the latter half of 2018 and subjected them to a ‘crypto [...]
The rise of the ASMR-tists: The online phenomenon touted as an antidote to anxiety and insomnia July 25, 2019 The slurp of a woman eating soup; the abrupt snip of scissors through hair; the crinkle of tinfoil being scrunched into a ball. For some people, these everyday sounds ignite a mysterious, near-ecstatic sensation known as Auto Sensory Meridian Response (ASMR). This reaction is characterised by a kind of low-level euphoria, similar to the prickly [...]