Bitcoin 

A Budding Financial Romance at the Perfect Time

If you’ve been following Peter Schiff for his prediction of the 2008 financial collapse or strictly because of his affinity for gold, then you’re probably aware that he is not a fan of Bitcoin (BTC), but would he be interested in gold-backed smart contracts? The United States Federal Reserve cut interest rates by another quarter-point on Sept. 18 following the European Central Bank’s Sept. 12 announcement on its negative interest rates and decision to re-introduce quantitative easing. With negative-yielding bonds looking like a shaky refuge from the storm looming on…

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Bitcoin 

VanEck Now Offering Bitcoin Financial Product for Institutional Investors

The CEO of investment management firm VanEck Associates, Jan Van Eck, said that the company is now offering a type financial product with exposure to Bitcoin (BTC). In an interview with CNBC on Sept. 11, Van Eck said that the product offered by the firm is a broker-traded fund and is currently not available to the public, but to institutional investors only. Van Eck further specified that it will trade over-the-counter and will not trade on a national securities exchange. The broker-traded fund is called VanEck SolidX Bitcoin Trust 144A…

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Bitcoin 

Swiss Crypto Banks Receive Licenses From Financial Regulator

The Swiss Financial Market Supervisory Authority (FINMA) has reportedly granted two banking and securities dealer licences to crypto-focused banks. Two Swiss crypto-specializing firms, Seba Crypto AG and Sygnum have received banking and securities dealer licenses, the banks said in separate statements on Aug. 26. With the new license, Seba expects to officially launch its new trading platform platform in early October 2019, the company stated. Seba’s plans include the establishment of a digital asset platform for professional traders, firms and institutional clients, as well as custody storage and asset management.…

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Bitcoin 

Bitcoin Price ‘Will Struggle’ in Big Financial Crisis, Says Investor

Spencer Bogart, a general partner at venture capital firm Blockchain Capital, thinks that Bitcoin (BTC) will be a safe haven in the long term. However, he has a nuanced view of how BTC price will play out with respect to various economic events. Bogart shared his views during an interview with Bloomberg on Aug. 20. According to him, risks of monetary devaluation can drive Bitcoin’s price up. Bogart commented: “I think longer term Bitcoin will absolutely be a safe haven […] I think that when you have looming risks of…

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Bitcoin 

Can Central Bank Digital Currencies Be Used to Fight Financial Crimes?

Paper money today is a marginal part of the currency in circulation and represents a direct relationship between the end user and the central bank. Its use is, however, unknown to the central bank; in a certain sense, it can therefore be said that like cryptocurrencies, cash can be used for illicit purposes. Central banks could start the process of digitizing paper money and thus create their own digital currency. Such a solution would have the great advantage of combating the shadow economy and illegal activities, and could be a…

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Ethereum 

UK Financial Regulator FCA Won’t Regulate Bitcoin and Ether

Major British regulator, the Financial Conduct Authority (FCA), will not regulate Bitcoin (BTC) as a part of its recent guidance on crypto assets. FCA finalizes its statement on crypto after a public consultation released in January On July 31, the FCA issued its finalized policy statement on cryptocurrencies in a document titled “PS19/22: Guidance on Cryptoassets.” The document represents an updated version of a consultation paper on crypto assets that was first released for public comment in January 2019, and intends to bring more regulatory clarity to the existing types…

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Ethereum 

Crypto Not a Solution for Financial Inclusion, Lawyer Tells US Senate

In a prepared statement for today’s United States Senate’s crypto hearing by international lawyer Mehrsa Baradaran, suggests that cryptos are not the solution for financial inclusion and equity in banking. Policy, not technology is the solution In her statement, published on the Senate’s website, Baradaran explains that the issues of inequality and inefficiency in finance that Bitcoin (BTC) and other cryptocurrencies are trying to solve should be resolved through policy, not technology.  She explains that such issues should be addressed “in this chamber, and not in a tech startup office…

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