In an update to the state’s bribery- and corruption-prevention laws, the New Jersey General Assembly may soon vote to prevent public officials from receiving NFTs and virtual currency as gifts. The bill was approved by the Science, Innovation, and Technology Committee last week.
Read MoreFrom cannabis to cryptocurrency, the future of fintech lies in the hands of regulators. Find out how alternative payments rails, smart contracts, and securities enforcement can potentially change everything.
Read MoreThe billion-dollar startup, which wants to distribute cryptocurrency to every human being by imaging their eyes, recently suspended operations in at least seven countries. It’s now delayed its launch date for a second time.
Read MoreYesterday, President Biden signed the Cyber Incident Reporting For Critical Infrastructure Act of 2022. The law shortens reporting timelines for cybersecurity incidents and names the Cybersecurity and Infrastructure Security Agency (CISA) as the leading government body for enforcement.
Read MoreOn Thursday, Stripe CEO John Collison announced that Stripe is re-entering the crypto space. FTX US said it will use Stripe to automate KYC processes, approvals, and crypto purchases from debit cards and ACH transactions.
Read MoreLBRY, a blockchain-based file sharing and payment network, has been the subject of a yearslong case by the Securities and Exchange Commission (SEC). The government body claims that LBRY’s token, LBC, is a security.
Read MoreToday, President Biden issued an “Executive Order on Ensuring Responsible Development of Digital Assets.” The order calls for a holistic approach to crypto across government branches, while also protecting consumers, minimizing volatility, safeguarding national security, and expanding financial inclusion efforts.
Read MoreAgrotoken, an Argentinian startup tokenizing grain by the ton through cryptocurrency, announced that its soy-, corn- and wheat-backed coins will be accepted as collateral by Santander. Agrotoken has also launched a 1,000-farmer test with Santander.
Read MoreBinance announced this morning that it would launch Bifinity, a payments technology company and fiat-to-crypto payments provider. Bifinity will partner with payments platform Paysafe as well as Checkout.com to scale its operations.
Read MoreThe U.S. Securities and Exchange Commission is looking into fractional NFTs, in which assets are broken down into tradable pieces. Such NFTs may qualify as securities under the Howey test; investors fund these NFTs with the intention of making a profit.
Read MoreMykhailo Fedorov, Vice Prime Minister and Minister of Digital Transformation of Ukraine, called on crypto exchanges to block Russian and Belarusian accounts following the invasion of Ukraine. Exchanges like Kraken and Binance pushed back at the demand.
Read MoreThe National Bank of Ukraine imposed several temporary restrictions to avoid economic panic and collapse. The PFTS Stock Exchange also suspended trading on Thursday.
Read MoreThrough a partnership with DiversiFi, Opera users on Android will be able to make cheap and instant crypto transactions within their mobile browser wallet. The Layer 2 swapping feature is 100 times cheaper than Ethereum Layer 1.
Read MoreThe crypto exchange announced that it has hired Lauren Remington Platt, a beauty entrepreneur, to spearhead partnerships with luxury brands. The move hopes to capture the wealth of the crypto class.
Read MoreIn a settlement with regulators, BlockFi agreed to register with the SEC and pay $100M in federal and state fines. It plans to launch an SEC-approved crypto interest-bearing security.
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.
