One of the major benefits of cryptocurrency, many of its proponents say, is that it is not linked to any fiat currency or controlled by any central bank. Facebook’s Libra was meant to function in much the same spirit, but the proposed cryptocurrency is walking back a bit on some of its original intent.
Read MoreFacebook’s proposed new digital cryptocurrency, Libra, made quite a splash when it was first announced earlier this year. But now it seems to be falling apart at the seams.
Read MoreThe NYSE’s crypto trading marketplace is off to a slow start.
Read MoreA Canadian firm has launched insurance against theft and collusion for digital assets in custody.
Read MoreFacebook’s proposed digital currency Libra caused quite a stir — most of it negative — when it was first announced earlier this year. It’s clear that regulators and central banks have a keen interest in what Libra is, or may become, which is why Facebook honcho Mark Zuckerberg was in Basel, Switzerland earlier this week.
Read MoreFrance’s financial regulator is poised to approve several crypto-related companies and bring them into the regulated financial system, one of the first instances among major world economies. Somehow, we think the battle over regulating cryptocurrencies in the U.S. will be a tad more contentious.
Read MoreCryptocurrencies are notorious for existing outside the normal regulatory oversight that governs most financial assets. Indeed, that’s a main selling point for many fans of crypto. But a group of international regulators this week outlined a plan to try and put some shackles on these shackle-less digital currencies.
Read MoreBitcoin, and the wider crypto industry, took a big step forward to mainstream acceptance this week when the owners of the New York Stock Exchange announced they had acquired a crypto custodian service called Digital Asset Custody Company. Atlanta-based Intercontinental Exchange (ICE), which owns the NYSE, also applied for its cryptocurrency subsidiary—known as Bakkt—to become a registered trust with the state of New York.
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
