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Financial Technology on the Rise: Visa Buys Fintech Firm Plaid for $5.3 Billion

Posted on January 15, 2020January 15, 2020 by Julie Williams

Visa, one of the largest and biggest payment systems in the world, is set to acquire one of the world’s largest financial technology (fintech) firms Plaid in a massive $5.3 billion deal. The payment giant, in a press release published two days ago, touted the fintech firm for the crucial roles it plays in the financial markets. As the major link between the financial world and the tech community, Visa looks to provide better customer…

Block.one Announces EOSIO 2.0: More Security, Speed and Stability

Posted on January 15, 2020January 15, 2020 by Julie Williams

Over six months after the crypto industry leader Block.one, parent of the cryptocurrency EOS, teased us with an improved version of the EOSIO 1.0 protocol, the blockchain firm is back on the scene with a better, faster and more secure version: the EOSIO 2.0. Around mid-2019, Block.one announced a newer version of the EOSIO 1.0 protocol. The newer version, which is obviously an upgrade from the first version, was dubbed EOSIO 2.0, and the crypto-oriented…

UK’s Regulator FCA to Monitor Money Laundering and Terrorism Finance via Crypto

Posted on January 14, 2020January 14, 2020 by Rehan Yousaf

The UK’s Financial Conduct Authority (FCA) now supervises companies and business working with crypto for anti-money laundering (AML) and counter terrorism finance (CTF) compliance. In an announcement released on January 10th, the financial regulator said that it will supervise whether businesses dealing with cryptocurrencies and blockchain in the UK are complying with the relevant rules and regulations to curb money laundering and terrorism finance efforts. The FCA also put forth a list of requirements for…

Japan’s Financial Regulator Eyes Strict Limits on Crypto Margin Leverage

Posted on January 14, 2020January 14, 2020 by Rehan Yousaf

Japan’s Financial Services Agency is planning to impose strict restrictions on permitted leverage for margin trading in cryptocurrency exchanges. The planned changes were reported by the Japanese news outlet Japan Times which references sources at the agency. The financial regulator is pushing for these restrictions in order to reduce the risk for margin traders on cryptocurrency trading platforms. According to the report, only twice as much as the deposited amount will be allowed as leverage….

Spain’s Telecom Giant Telefonica to Host 8,000 Firms on its Blockchain Network

Posted on January 13, 2020January 13, 2020 by Julie Williams

Telefonica, one of Spain’s biggest and largest telecommunications companies (and the world’s), announced last week that it is throwing an open-house party for as many as eight thousand crypto and blockchain firms in its new blockchain garden. To cater to such a gigantic crowd, the telecom giant joined forces with the local Association of Science and Technology Parks (APTE). Via the partnership, up to 8,000 local blockchain and crypto startups will have uninterrupted access to…

DMG Blockchain Announces New Big Client While Ending Partnership with Bitmain

Posted on January 12, 2020January 12, 2020 by Julie Williams

The Canada-based blockchain and crypto company, DMG Blockchain Solutions Inc. (formerly known as Aim Explorations Ltd.) has announced the addition of another major client, but also the termination of the partnership with the world’s largest crypto mining chip maker, Bitmain. Filled with joy for the new big partnership formed and also sour about the end of the collaboration with Bitmain, DMG released a press release to share the good news with its clients and the…

China Rolls Out National Blockchain Network to Enhance Virtual Economy

Posted on January 12, 2020January 12, 2020 by Rehan Yousaf

China’s nationwide blockchain network is due to be launched in the upcoming months. The blockchain-based service network (BSN) will contribute to improving the infrastructure of the blockchain sector in the country to develop the layout for newer blockchain projects and accelerate the growth of smart cities and the virtual economy. The BSN is being released six months after the testing process for the technology began. The new network will be backed by the State Information…

CFTC Asks Court for More Time Finding CEO of Crypto Ponzi Scam Control Finance

Posted on January 9, 2020January 9, 2020 by Julie Williams

Six months after the U.S. Commodity Futures Trading Commission (CFTC) filed a complaint against Control Finance, the regulatory agency is yet struggling to capture the mastermind behind the crypto pyramid scheme. Filed mid-2018, the CFTC accused Control Finance and its Director Benjamin Reynolds of defrauding naive investors through a fraudulent crypto scheme. Consequently, the CFTC now wants to impose fines with regard to illicit trading and fraud. Since the inception of the case, the CFTC…

Crypto Gaming Platform Litemint Completes the Acquisition of Stellarport

Posted on January 9, 2020January 9, 2020 by Rehan Yousaf

In an official statement released on January 1st, the gaming platform Litemint, and Stellarport, which is part of Stellar ecosystem, announced that the two companies have entered an agreement in which Litemint will be acquiring Stellarport. The press release states that Stellarport provides a compact multi-assets crypto wallet, and conducts and anchors the services and operations for Stellar Decentralized Exchange. Litemint will soon become a key player in the blockchain-based markets, merging $68.5 billion mobile…

French Regulator Grants its First Approval to an ICO

Posted on January 9, 2020January 9, 2020 by Rehan Yousaf

AMF France, authoritie des marches financiers, the French regulator for the financial markets, posted on its official website details regarding the grant of the first initial coin offering (ICO) in the country. The regulatory approval is a new feature introduced recently by lawmakers and regulators. According to AMF France, the new rules will be ensuring digital asset safety while making sure that companies follow the standard procedures for anti-money laundering practices. Due to regulatory restrictions…

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