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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..
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..
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..
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..
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..
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..
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..
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..
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. ..
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..