The Biden administration has released a strategy document focusing on setting standards for “critical and emerging” technologies such as blockchain and digital ID. The administration of United States President Joe Biden released a national standards strategy for critical and emerging technologies on May 4. The strategy stated that the U.S. would prioritize standards development in…
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The small New York-based neobank is seeking to improve crypto users’ experience by melding Web3 features and digital banking. The neobank Cogni has announced that it is rolling out soulbound nonfungible tokens containing Know Your Customer (KYC) information to holders of its crypto wallet. The Polygon-based NFT will transfer customers’ “Web2” KYC verification done by…
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A researcher at the Ethereum Foundation said he had “internally” discovered that staking Ether reveals a user’s IP address information. A researcher at the Ethereum Foundation (EF) revealed that the IP addresses of Ether (ETH) stakers are monitored as part of a broader set of metadata, causing the cryptocurrency community to flag Ethereum for privacy…
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If initial tests are successful, the firms will expand their activities into tokenized credit issuance and equities. Financial market firms T. Rowe Price Associates, WisdomTree, Wellington Management, and Cumberland have joined an Avalanche (AVAX) subnet to test the idea of blockchain-based foreign exchange, according to an announcement from the Avalanche team. The new subnet is…
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The firms were cited anonymously in the CFTC’s complaint describing Binance’s alleged facilitation of U.S. clients. Trading firms Jane Street Group, Tower Research Capital and Radix Trading have been reportedly identified as Binance’s three “VIP” clients that were cited anonymously in the recent lawsuit filed against Binance by the United States commodities regulator. According to…
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Despite being touted as a game-changing innovation, the decentralized finance (defi) ecosystem is still not connected to fiat rails largely because of regulatory and compliance issues, Torsten Stuber, the CTO at Pendulum says. According to Stuber, the defi ecosystem will succeed in getting more traditional financial institutions on board once “a substantial amount of liquidity…
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The token protocol can be used for a wide variety of applications, including membership badges, loyalty programs, decentralized captcha bots, and credit underwriting. Masa Finance’s soulbound tokens will soon be available on Coinbase’s Base network, according to an April 4 announcement from Masa Finance. The new tokens will allow users to link identifying and reputational…
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Following allegations that Binance employees and volunteers help users bypass KYC protocols, the crypto exchange says it is launching an internal investigation. A recent article surfaced alleging that Binance employees and volunteers were assisting Chinese users on how to bypass Know Your Customer (KYC) and other security protocols. However, speaking to Cointelegraph a spokesperson from…
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Large financial institutions are getting involved in digital assets by investing capital, time and effort into on-chain analytics solutions. The new year began with the news that notable Web3 entrepreneur Kevin Rose fell victim to a phishing scam in which he lost over $1 million worth of nonfungible tokens (NFTs). As mainstream financial institutions begin…
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The blockchain-based national eKYC banking platform aims to strengthen Anti-Money Laundering capabilities while countering terror financing. The Pakistan Banks’ Association (PBA) — a group of 31 traditional banks operating in Pakistan — signed off on developing a blockchain-based Know Your Customer (KYC) platform. On March 2, the PBA signed the project contract to develop Pakistan’s first…
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