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Wall St. to Washington: Bakkt Launches New Products, CEO Joins Senate

Analysis Earlier this week, institutional Bitcoin (BTC) futures platform Bakkt launched two new financial products: the first United States-regulated BTC options and cash-settled futures. The announcement came just three months after the project went live with its physically delivered futures, fol..

BlockFi to Offer First Interest-Bearing Crypto Accounts in Washington State

News Cryptocurrency lending firm BlockFi announced in an email that it obtained a money transmission license (MTL) in the state of Washington in the United States. The firm explained that the license will allow BlockFi to be the first crypto company eligible to offer interest-bearing crypto accoun..

Majority Leader of California State Assembly Pushes for Legal Certainty for Blockchain

News Speaking at Elev8CON in Las Vegas on Dec. 10, Majority Leader of the California State Assembly Ian Calderon discussed plans to bring greater legal certainty for blockchain technology to the State of California. California is the most populous of the United States, with about 40 million resid..

FinCEN Director Notes Improved Oversight of Cryptocurrency Industry

News The director of the Financial Crimes Enforcement Network (FinCEN) says the cryptocurrency industry has begun to fall in line with the agency’s regulations on money transmission services. In a speech delivered at the American Bankers Association/American Bar Association Financial Crimes Enforc..

South Korea: Gov’t Seeks to Tax Crypto Transactions as Capital Gains

News The South Korean government plans to tax capital gains on cryptocurrency transactions. A Dec. 9 report from The Korea Times reveals that a revised bill to introduce the measure will be drawn up by the country’s Ministry of Economy and Finance by the first half of 2020. In parallel, the Korean..

SEC Requests UK’s Intervention to Force Telegram’s Former Advisor to Testify

News The United States Securities and Exchange Commission (SEC) asked the High Court of England and Wales to force Telegram’s former chief investment advisor John Hyman to testify in the case over the firm’s Grams tokens offering. Industry news outlet Coindesk reported on Dec. 7 that the SEC’s req..

Deutsche Bank Research: Crypto to Replace Fiat Currencies by 2030

News By 2030, the demand for alternative currencies will rise, with digital currencies eventually replacing cash, according to recent research from Deutsche Bank. In the “Imagine 2030” report, Deutsche Bank strategist Jim Reid raised awareness of the challenges the existing fiat system has encount..

CryptoBridge Closes Down and Waves Relaunches, DEXs Face Tough Times

Analysis Earlier this week, decentralized cryptocurrency exchange CryptoBridge abruptly announced that it was shutting shop, leaving just two weeks for its customers to retrieve their funds. Around the same time, the Waves DEX also shut down to resume operations as a hybrid exchange. While Waves o..

Stablecoin Adoption Can Impact Economy, Warn Senior US Regulators

News A panel of senior financial regulators in the United States has warned the public about the purported risks of stablecoins and cryptocurrencies. A report issued on Dec. 4 by the Financial Stability Oversight Council (FSOC) highlighted potential problems resulting from stablecoins gaining wid..

European AML Regulations Follow the US Path With a Six-Years’ Delay

Opinion In January 2020, the regulatory landscape for crypto businesses will completely change in the European Union in comparison with the last decade — and these changes will touch all those who store clients’ crypto funds or provide fiat-to-crypto exchange services, at minimum. Not long ago, th..

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