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Australian Police Uncover Syndicate Involved in Crypto Laundering

News Australian law enforcement bodies have uncovered a criminal gang allegedly involved in laundering millions of stolen funds through untraceable assets, including cryptocurrencies. According to an announcement published on Sept. 17, the Australian Securities and Investments Commission (ASIC) an..

Wells Fargo to Pilot DLT-Based Cross-Border Settlement Platform

News American financial services company Wells Fargo & Company is planning to launch a pilot of a distributed ledger technology (DLT)-based internal settlement service in 2020. In a Sept. 17 press release, Wells Fargo described a DLT-based platform designed to perform internal book transfers of in..

Bitcoin Is the Fraud? JPMorgan Metals Desk Fixed Gold Prices for Years

News The United States’ largest bank faced fresh ridicule from Bitcoin (BTC) circles this week after prosecutors said traders had conducted more market fraud. As Bloomberg reported on Sept. 16, JPMorgan Chase is facing an inquiry over the behavior of at least a dozen precious metals traders. JPMo..

BIS Economist Proposes DLT-Based Financial Market Monitoring

News An economist of the Bank for International Settlements (BIS) has proposed new ways of supervising financial risks through distributed ledger technology (DLT). In a recently released working paper, economist Raphael Auer made the case for so-called embedded supervision, which would automatical..

Bitcoin Is a Hedge Against Gov’t ‘Fiscal Irresponsibility’ — Analyst

News Equities portfolio manager turned crypto fund executive Travis Kling has argued that Bitcoin (BTC) has come into its own as a unique hedge within the current macroeconomic climate. In an interview with CNN on Sept. 15, Kling argued that the specific properties of Bitcoin make it an exceptiona..

Germany’s Largest Bank Joins JPMorgan’s Blockchain Network

News Germany’s largest bank, Deutsche Bank, has joined JPMorgan’s blockchain-based network, the Interbank Information Network (IIN). Two years in operationLaunched as a pilot in 2017, the JPMorgan-led blockchain initiative now has a network of 320 banks that have entered the platform to swap globa..

Venezuela: New Bitcoin Trading Record as Biggest Bank Embraces Petro

News Venezuela’s largest bank, Bank of Venezuela (BDV), has added support for the country’s controversial Petro digital currency. Bank of Venezuela hints at crypto walletAs cryptocurrency news outlet Decrypt reports on Sept. 13, BDV clients have discovered a new section in their online banking ac..

Alfa-Bank Launches Bank-as-a-Service Platform on Waves Blockchain

News Alfa-Bank and X5 Retail Group partnered to launch a blockchain liquidity management service in Russia. According to a press release published by the bank on Sept. 12, the service — dubbed Distributed Treasury and Cash Management (DTCM) — enables Alfa-Bank’s corporate clients to manage their p..

Santander Issues $20 Million End-To-End Blockchain Bond on Ethereum

News Major Spanish bank Banco Santander has issued what it claims is the first end-to-end blockchain bond. In a Sept. 12 news release, the bank revealed that it had issued a $20 million bond directly onto the Ethereum (ETH) blockchain, where it will remain until the end of its one-year maturity. ..

BitMEX Operator HDR Global Hires Former BNP Paribas Exec

News BitMEX parent firm HDR Global Trading has hired a former executive of French banking group BNP Paribas as the group’s general counsel. 28 years of legal expertiseDerek Gobel, who served at BNP Paribas for more than 19 years, will now oversee HDR Global’s legal function and help the company mo..

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