Cryptocurrencies Pose No Threat to Financial Stability: EU Central Bank

news The European Central Bank (ECB) has said that cryptocurrencies are currently not a threat to financial stability in the euro zone. In its latest paper on the subject, published Friday, the ECB said the combined value of crypto-assets is small relative to the financial system, and “linkages” to the financial sector are still limited. Further,…

Facebook Registers Secretive ‘Libra’ Cryptocurrency Firm in Switzerland

news According to a Reuters report, Facebook registered a new company, Libra Networks, in Geneva on May 2. This coincides with the slow roll-out of their internal cryptocurrency that will define the company’s first foray into blockchain technology. Facebook Global Holdings is a stockholder in the new company and it will, according to Reuters, “provide…

Facebook Hires Two of Coinbase’s Former Compliance Managers

news Facebook hired two Coinbase veterans to work in compliance this month, and at least one of them is involved with the social media giant’s blockchain effort. Jeff Cartwright left Coinbase in March after nearly five years at the U.S. cryptocurrency exchange in various compliance roles. He joined Facebook as a policy and compliance manager…

Banking, Bitfinex and the Hidden Irony of Crypto’s Newest Controversy

opinion Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. When I visited some early bitcoin startups in Hong Kong five years ago, they were…

The Hidden Effects of Crypto Money Laundering Rules

news Noelle Acheson is a veteran of company analysis and a member of CoinDesk’s product team. The following article originally appeared in Institutional Crypto by CoinDesk, a free newsletter for the institutional market with news and views on crypto infrastructure delivered every Tuesday. Sign up at the link below.  Ever since Emperor Vespasian held up…

Presidential Candidate Andrew Yang Calls for ‘Clear Guidelines’ on Crypto

news Andrew Yang, one of a number of candidates looking to take on U.S. president Donald Trump in the 2020 presidential election, has released a new policy statement for crypto-assets. In the statement, Yang — who is currently vying for the Democratic Party nomination among a crowded field of candidates — indicated his goal to…

Lawmakers Reintroduce Bill to Exempt Tokens from US Securities Laws

news Lawmakers are making a fresh attempt to give cryptocurrencies a clearer legal standing in the U.S. U.S. Representative Warren Davidson reintroduced the Token Taxonomy Act on Tuesday, saying in a statement that the bill, if approved by Congress and signed into law, would “send a powerful message” to innovators that “the U.S. is the…

Swiss Watchdog Rules Crypto Miner’s ICO ‘Seriously Violated’ Laws

news Switzerland’s finance watchdog has found that the cryptocurrency mining firm Envion AG, which raised millions through an initial coin offering (ICO), held the sale illegally and “seriously violated” laws. Announcing the news on Wednesday, the country’s Financial Market Supervisory Authority (FINMA) said that Envion unlawfully received public deposits worth over 90 million francs ($90.33…