BLOCKCHAIN

Nordic Banking Giant Nordea Opens Blockchain Trading Platform to More Clients

[ad_1] Nordic private banking institution Nordea is expanding its offering of the blockchain-based trading platform we.trade to its small and middle-sized business customers (SMEs),  according to a press release on May 9.The platform will purportedly help address trust deficits extant in current cross-border trades made by SMEs. Patrik Zekkar, Global Head of Trade Finance and Working Capital Management at Nordea, explained:“Almost 60 percent of the SME’s said that they have
EXCHANGES

Crypto Adoption Remains Strong in Venezuela Amid Political Chaos

[ad_1] The political tension in Venezuela has affected local cryptocurrency adoption. While there are roadblocks, many crypto-advocating projects continue to thrive in the country. News.Bitcoin.com takes a deep look at the current situation in Venezuela, crypto adoption efforts and how the recent political crisis affects them. Also read: Indian Supreme Court Postpones Crypto Case at Government’s Request Political Turmoil and Economy in Freefall Cryptocurrency adoption in Venezuela has been affected
BLOCKCHAIN

US Lawmakers Form Fintech Task Force to Examine Industry

[ad_1] The United States House of Representatives Financial Services Committee has passed a resolution to form the Task Force on Financial Technology, according to a press release by the committee on May 9.The new task force purports to “examine the current legal framework for fintech, how fintech is used in lending and how consumers engage with fintech.”Congressman Stephen Lynch (D), the newly appointed chair of the Task Force on Financial
BLOCKCHAIN

SEC Commissioner Hester Peirce Concerned Crypto Industry Hindered by Regulatory Delays

[ad_1] United States regulator and so-called “crypto mom” Hester Peirce gave remarks in which she expressed fears that the cryptocurrency industry has been hindered by the Securities and Exchange Commission (SEC) dragging its heels. Peirce spoke at the Securities Enforcement Forum in East Palo Alto, California on May 9.In her speech, Peirce stated that, given the rapid development of the digital currency industry, she worried that the SEC’s hesitance to
BLOCKCHAIN

Blockchain Entrepreneur, Ontario Regulators Seek Settlement in Namedrop Scandal

[ad_1] The Ontario Securities Commission (OSC) along with blockchain corporation NextBlock Global Limited and its CEO Alex Tapscott, have filed for a public settlement hearing on May 9.Tapscott and NextBlock were previously accused by the OSC Staff of the Commission of misleading prospective investors during a funding round that reportedly “raised approximately $20 million from 113 accredited investors.”Investors were allegedly shown investor slide decks that falsely portrayed various well-known figures
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Bitcoin’s Software Has Been Rolled Back Before

[ad_1] When Binance lost $40 million to hackers this week, the crypto community discussed reorganizing the chain after it was suggested by a developer from MIT. Many people were upset by this proposition, declaring that there was no way a coordinated effort with miners could be pulled off. However, most bitcoiners don’t seem to remember that a similar centralized decision was made in 2013, when Btc Guild’s hashrate was leveraged
Business

What We Know About the Binance Hack So Far

[ad_1] Binance, one of the world's largest cryptocurrency exchanges, experienced a “large scale” data breach on May 7. The hackers reportedly stole around 7,000 Bitcoin (BTC), worth more than $40 million as of press time.As the platform explained via a public statement, the fraudsters had managed to steal users’ application programming interface (API) keys, two-factor authentication (2FA) codes and other information, which supposedly helped them to orchestrate the attack.Binance has
EXCHANGES

Someone’s Confusing Bitcoins and Sh*tcoins, But Is It Roubini Or The New York Post?

[ad_1] It isn’t often that we witness a greater inherent bias against Bitcoin than that of Nouriel Roubini. But The New York Post yesterday published a headline claiming Roubini called bitcoins ‘sh*tcoins’ at a conference discussion. Spoiler alert: He did not. New York Post Even More Clueless Than Roubini Roubini, as he is most famous for, was appearing in a panel discussion at the SALT conference in Las Vegas. The discussion,
ALTCOIN

It Seems Like a Really Big Mess That Probably Won’t Get Better

[ad_1] Joseph Lubin, founder of blockchain tech company ConsenSys, expressed his pessimism regarding the recent situation with cryptocurrency trading platform Bitfinex, Bloomberg reported on May 9.Speaking at the Fluidity Summit conference, Lubin said that “it seems like a really big mess that probably won’t get better. Tether is somewhat important to our ecosystem because it’s used by different institutions to effect more fluid trading.”Lubin noted however, that the turmoil surrounding
Business

FinCEN Clarifies Money Transmission Regulations Pertaining to DApps

[ad_1] The United States Financial Crimes Enforcement Network (FinCEN) has issued new guidance that contains its financial regulation policies concerning Decentralized Applications (DApps) on May 9.In the introduction to the guide, FinCEN notes the guide serves to clarify and provide examples to make compliance easier for entities whose activities fall under the purview of the Bank Secrecy Act (BSA).FinCEN defines Dapps as, “Decentralized (distributed) application software programs that operate on