CipherTrace seeks to fill the “blind spot” in crypto compliance with the launch of Armada. April 28, CipherTrace launches Armada, a product designed to eliminate risky cryptocurrency blind spots for banks and financial institutions. Unlike other products by CipherTrace and many similar products by its competitors, Armada focuses on the off-chain data instead of on-chain…
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BitMex, one of the world’s biggest crypto derivatives exchanges, is executing the new regulation orders and closing its services to all Japanese traders. BitMex, one of the world’s biggest crypto derivatives exchanges, announced on April 28 that it will close services to Japan residents starting May 1 amid new Japanese regulations. Earlier this month, the…
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The European Central Bank is looking to renovate its payments infrastructure, studying both public and private solutions, with or without blockchain. A blog post from the European Central Bank (ECB) discusses the importance of resilient payment mechanisms. While the report focuses on legacy systems, it also mentions novel blockchain-based technologies like the digital euro. Published…
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The US token issuance platform cited automation, regulatory compliance, and properly utilizing blockchain technology as reasons for the move. Security tokens platform TokenSoft has joined the U.S.-based crypto lobbying group Blockchain Association (BA). The San Francisco-based token issuance platform said in an official announcement on April 27 that it would be entering the D.C.-based organization…
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Bank of China continues to strengthen fintech regulation, expanding pilot projects in six more cities and districts. Bank of China launched its first fintech innovation regulatory pilot project in Beijing last year. The bank announced plans to expand its regulatory pilot projects in six more cities and districts on April 27. The bank plans to…
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The COVID-19 pandemic has revealed the necessity for a brand new reserve currency, and it is time for crypto. The ongoing COVID-19 pandemic has brought into focus the need for international cooperation and support. Coupled with a crumbling economy, it’s shown us that now is the time for a modern, accessible reserve currency. However, markets…
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Sentencing of the lawyer who laundered $400 million for the OneCoin Ponzi scheme has again been postponed. The sentencing of Mark Scott, a licensed attorney who laundered $400 million for the infamous OneCoin Ponzi scheme, has been adjourned until July 14, 2020. On April 25, Judge Edgardo Ramos of the New York Southern District Court…
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FLiK investors have opposed Kevin Hart’s motion to dismiss their $7 million lawsuit against him for promoting a fraudulent ICO in 2017. Investors who participated in the FLiK initial coin offering, or ICO, in 2017 have opposed entertainer Kevin Hart’s bid to have the $7 million lawsuit dismissed. The 25 investors claim that they collectively…
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BIS Innovation Hub head asserted the decline of cash use amid the pandemic has renewed the pertinence of bank-issued digital currencies. Benoît Cœuré, the head of the Bank for International Settlements Innovation Hub, recently asserted that central bank digital currencies, or CBDCs, have been brought “into sharper focus” amid the coronavirus pandemic. Speaking during a…
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Does blockchain technology grant enough anonymity? Experts’ opinions vary, as some say the technology hasn’t lived up to the expectations. The first blockchain was launched more than 10 years ago and since then, it has evolved from simply being a backbone for Bitcoin (BTC) to a global technological phenomenon. In some sense, the distributed ledger…
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