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Facebook seeks to placate lawmakers over Libra but Mnuchin raises "serious concerns"

/Blockchain

Facebook seeks to placate lawmakers over Libra but Mnuchin raises "serious concerns"

Facebook's Libra chief is bidding to sooth lawmakers' concerns over the digital currency, promising that it won't be launched until it has received regulatory approvals and that it will not compete with sovereign currencies o enter the monetary policy arena. The charm offensive comes as Treasury Secretary Steve Mnuchin expresses "very serious concerns" that Libra could be misused by terrorists.

South Korean banks join Samsung and telcos in blockchain ID project

/Blockchain

South Korean banks join Samsung and telcos in blockchain ID project

KEB Hana Bank and Woori Bank in South Korea are collaborating with Koscom, Samsung Electronics and three leading telcos to develop a blockchain-based system for storing digital identities.

Esma fills in the gaps on the licensing of fintech firms across Europe

/Blockchain

Esma fills in the gaps on the licensing of fintech firms across Europe

The European Securities and Markets Authority (Esma) has found regulatory gaps across EU member states in the licensing regime for crypto-asset related activities and in the governance and risk management processes associated with both cyber security and cloud outsourcing.

YES Bank brings blockchain efficiency to Indian corporate debt market

/Blockchain

YES Bank brings blockchain efficiency to Indian corporate debt market

India's YES bank has completed a successful issuance of corporate debt using blockchain built by Monetago on R3’s Corda.

Visa invests in crypto custodian Anchorage

/Blockchain

Visa invests in crypto custodian Anchorage

Digital asset custody services provider Anchorage has raised $40 million in a Series funding round led by Blockchain Ventures and joined by Visa and Andreessen Horowitz.

FCA suggests ban on crypto derivatives

/Blockchain

FCA suggests ban on crypto derivatives

The UK's financial services watchdog is proposing a ban on cryptocurrency derivatives for retail investors in order to prevent them incurring large losses in financial instruments they do not understand.

As Facebook's Libra looms, Deutsche Bank analyst hails cash's privacy

/payments

As Facebook's Libra looms, Deutsche Bank analyst hails cash's privacy

With Facebook's Libra project sparking a new feverish round of debate on the pros and cons of digital payments, a Deutsche Bank analyst is making the case for old fashioned cash on the grounds of privacy.

Oz lenders and IBM team on bank guarantee blockchain platform

/Blockchain

Oz lenders and IBM team on bank guarantee blockchain platform

ANZ, Commonwealth Bank and Westpac are joining forces with IBM and shopping centre giant Scentre Group to pilot a blockchain-based platform for managing bank guarantees.

Cybercrooks look to cash in on Facebook's digital currency

/security

Cybercrooks look to cash in on Facebook's digital currency

Cyber-scammers are scrambling to take advantage of Facebook's upcoming digital currency and wallet, registering domains related to Libra and Calibra in the hope of drawing in unsuspecting victims investigating the projects, say security researchers.

Euronext steps up digital asset play with stake in Tokeny

/Blockchain

Euronext steps up digital asset play with stake in Tokeny

Euronext has spent EUR5 million to acquire a 23.5% stake in digital asset startup Tokeny Solutions.

ABN Amro completes container logistics pilot on blockchain

/Blockchain

ABN Amro completes container logistics pilot on blockchain

ABN Amro has completed the first instantly financed, door-to-door transport of a container from a factory in Asia to the Netherlands on blockchain-based platform Deliver.

Goldman Sachs could create digital coin

/Blockchain

Goldman Sachs could create digital coin

Goldman Sachs could follow JPMorgan Chase in creating a digital coin, CEO David Solomon has revealed in an interview in which he also dismissed the threat of tech giants such as Facebook moving beyond payments into deposits.

Facebook could move into credit - Calibra wallet chief

/Blockchain

Facebook could move into credit - Calibra wallet chief

Facebook's digital currency and wallet could be just the beginning of a new assault on financial services by the tech giant, a senior exec says.

Northern Trust transfers PE blockchain to Broadridge

/Blockchain

Northern Trust transfers PE blockchain to Broadridge

Northern Trust is to transfer its inhouse developed blockchain platform for private equity firms to Broadridge, in an acknowledgement of the ongoing costs in upkeep and the need for an industry-neutral sales and marketing machine.

Carney positive on Facebook's Libra; says BofE could open up balance sheet to new players

/Blockchain

Carney positive on Facebook's Libra; says BofE could open up balance sheet to new players

Facebook's new digital currency, Libra, could "substantially improve financial inclusion and dramatically lower the costs of domestic and cross border payments," Bank of England governor Mark Carney has said in a speech during which he also revealed the central bank could open up access to its balance sheet to new payment providers.

Banks falling behind in digital transformation efforts

/Blockchain

Banks falling behind in digital transformation efforts

Despite investing more than $1trn globally in new technology over the last three years, the majority of banks have yet to see any financial boost from their digital transformation programmes.

Ripple buys stake in MoneyGram

/Blockchain

Ripple buys stake in MoneyGram

Ripple has agreed to invest up to $50 million in MoneyGram as part of a two-year partnership that will see the old-school money transfer player tap the blockchain startup's XRP digital currency for cross-border payment and foreign exchange settlement.

Regulators and politicians respond to Facebook's crypto plans

/Blockchain

Regulators and politicians respond to Facebook's crypto plans

Regulators, politicians and other crypto players have all responded to yesterday's unveiling of Facebook's Libra project and suggested that the social media giant's digital currency plans may face several challenges.

India to review payments data storage rule

/Blockchain

India to review payments data storage rule

The Indian central bank has been persuaded to reconsider a controversial law that mandates payments data should not be allowed to leave India's borders.

Italy's banks to use DLT for reconciliations

/Blockchain

Italy's banks to use DLT for reconciliations

The Italian Banking Association (ABI) has revealed that the country's banks will be using distributed ledger technology (DLT) to run its reconciliations as of March 2020, making it the first use of the blockchain among Italy's banks.

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