Bithumb, South Korea’s largest crypto exchange, has taken another step towards global expansion by strengthening integration with its international arm. South Korea’s largest cryptocurrency exchange, Bithumb, has announced it will take another step towards global expansion by strengthening integration with its international arm. On Feb. 26, Bithumb launched a new digital asset transfer service between…
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Moody’s ratings agency has said that the proposed blockchain-based KYC consortium in the United Arab Emirates is credit positive for the nation’s lenders. Moody’s Corporation has said that a new blockchain-based Know Your Customer (KYC) platform in the United Arab Emirates is credit positive for the nation’s lenders. According to a report by local media…
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From payments to asset management and even data privacy, DeFi solutions are spreading across multiple sectors. As the new decade unreels, a new wave of disruption seems to be coming to the shores of the global financial system. That wave is called decentralized finance protocols. Decentralized finance, or DeFi, simply refers to financial software that…
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Following two significant attacks on lending protocol bZx, what are the potential ramifications for the DeFi sector? Earlier this week, the decentralized lending protocol bZx was exploited in back-to-back “flash loan” attacks. While the two exploits were distinct, the end results remained the same. In total, $954,000 was gleaned from the platform. But what exactly…
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The Department of Economic Development of Dubai has established a KYC blockchain consortium with six major banks. One of the financial hubs of the Middle East, the United Arab Emirates (UAE), is continuing to expand blockchain-driven developments. The Department of Economic Development (DED) of Dubai has established a Know Your Customer (KYC) blockchain consortium with…
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How is the FATF’s AML guidance being implemented around the world, and what is its impact on the crypto industry? It’s been nearly eight months since the Financial Action Task Force issued its divisive crypto directives, establishing traditional banking regulations within the crypto sector. With the year-long adoption deadline fast approaching, how have the world’s…
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Chainalysis, a provider of crypto transaction data for IRS and FBI, does not think that privacy coins are bad despite not being able to fully track them. A major global company that helps fight illicit cryptocurrency-related activity does not think that privacy in crypto markets is necessarily bad. Despite representing one of the primary sources…
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Wells Fargo’s investment branch added $5 million to Elliptic’s Series B round, which will help fuel Asian expansion and the development of a compliance solution for banks. Wells Fargo Strategic Capital, the venture arm of the fourth-largest bank in the U.S., is contributing $5 million to Elliptic’s Series B funding round. According to a Feb.…
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Thickening regulations may drive crypto firms out of the EU, the rest will have to comply with “unclear and fragmented” laws for benefits in the long run. The European Union lately has been a hotbed for political and regulatory developments that could have a considerable impact on the day-to-day operations of the continent’s financial service…
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Hearings in the Indian Supreme Court have opened a discussion between the crypto space and lawmakers on the tech’s potential in the country. India has developed a somewhat paradoxical relationship with cryptocurrencies, blockchain and other emerging technologies. On one hand, the Indian government is a huge proponent of distributed ledger technology, with several government-led initiatives…
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