Saturday, 17 August 2019

Cryptocurrency platform Circle Internet Financial is bidding to enter the Wall Street mainstream, seeking a federal banking license and SEC registration as a brokerage and trading venue.
Officials at the firm have told Bloomberg that they have had preliminary conversations with the Office of the Comptroller of the Currency, the SEC and Finra.

While securing a federal banking license would not be easy, it would mean that the firm can dodge dealing with individual states and keep it on the right side of a fast-evolving regulatory landscape.

CEO Allaire tells Bloomberg: "To hold reserves with the Federal Reserve, to natively access the central-banking system without intermediaries, to directly settle with other banks in other markets around the world through those networks - that can improve the efficiency of what we deliver, it can reduce the costs."

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Gaurang Torvekar, co-founder and chief executive of Indorse, a blockchain powered professional network, explains why the major social media companies are now investing in blockchain technologies.

On top of landing the top spot on the Weiss crypto ratings, EOS is in the spotlight. Essentially EOS is at the end of securing a Record $4 Billion U.S. in a year long ICO, while launching its blockchain.

Australia took an important step in countering the criminal use of digital and cryptocurrencies when legislation regulating digital currency exchanges under Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act 2006 came into effect on 3 April.

I recently sold 70% of my Ether (the built-in cryptocurrency of the Ethereum platform) after I came to doubt its promise as an investment— although my optimism about its potential as a technology remains as high as ever.

Russia’s Central Bank still sticks to a conservative view regarding cryptocurrencies regulation, though it does not rule out it will be revised in the future, the regulator’s First Deputy Chairman Olga Skorobogatova said on the sidelines of the St. Petersburg International Economic Forum on Saturday.

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