No Libra style digital currencies without rules, say EU finance ministers

No Libra style digital currencies without rules, say EU finance ministers

European Union finance ministers have agreed a defacto ban on the launch in the region of so-called global ‘stablecoins’ such as Facebook’s planned Libra digital currency until the bloc has a common approach to regulation that can mitigate the risks posed by the technology. In a joint statement the European Read more…

Libra’s critics are missing the forest for the trees

Libra’s critics are missing the forest for the trees

But Facebook is probably not the right actor to spearhead this initiative Nik Milanovic Contributor Nik Milanovic is a fintech and financial inclusion enthusiast, with a decade of work across mobile payments, online lending, credit and microfinance. More posts by this contributor What money should be The Third Age of Read more…

Screen Shot 2019 10 23 at 2.52.43 PM

Bitcoin and cryptocurrencies are having a very bad day

The price of Bitcoin and other cryptocurrencies tanked today, continuing a months-long slide that has seen the value of the digital currency slide by more than $2,000 from highs of above $10,000 earlier in the year. Investors are still speculating about the cause of the crash, but hopeful cryptocurrency bulls Read more…

Cryptocurrency’s bad day continues as the SEC blocks Telegram’s $1.7 billion planned token sale

Cryptocurrency’s bad day continues as the SEC blocks Telegram’s $1.7 billion planned token sale

Cryptocurrency’s bad news day continues to get worse as the U.S. Securities and Exchange Commission has said it has filed an emergency action and received a restraining order for the $1.7 billion planned token offering of Telegram’s blockchain. The move from the SEC follows the continued dissolution of the corporate Read more…

PayPal is the first company to drop out of the Facebook-led Libra Association

PayPal is the first company to drop out of the Facebook-led Libra Association

PayPal is the first company to walk away from Facebook’s Libra cryptocurrency. PayPal’s decision to take its ball and go home was first reported by The Wall Street Journal . “PayPal has made the decision to forgo further participation in the Libra Association at this time and to continue to Read more…

Art on Blockchain pioneer Verisart raises $2.5M for art and collectibles certification

Art on Blockchain pioneer Verisart raises $2.5M for art and collectibles certification

A lot of talk has been made about verifying valuable items on an immutable blockchain, but the main pioneer in this space has been Verisart, which appeared a few years ago to use a blockchain to create certification for the fine art and collectibles market. But despite the blockchain hype Read more…

Elliptic banks $23M to shrink crypto risk, eyeing growth in Asia

Elliptic banks $23M to shrink crypto risk, eyeing growth in Asia

Crypto means risk. To UK company Elliptic it also means business. The startup has just closed a $23M Series B to step up growth for a crypto risk-management play that involves selling tech and services to help others navigate the choppy darks of cryptocurrencies. The round was led by financial Read more…

Facebook is working with HackerOne on a bug bounty program for its Libra cryptocurrency

Facebook is working with HackerOne on a bug bounty program for its Libra cryptocurrency

Facebook and its partners are moving ahead with its Libra cryptocurrency project and announced that it is working with HackerOne on a bug bounty program for applications built on its blockchain. The move comes even as government regulators have called for the company to suspend the project, while they assess Read more…

VertoFX raises $2M for its African and EM currency trading platform

VertoFX raises $2M for its African and EM currency trading platform

VertoFX, an Africa and emerging markets focused currency trading and payment startup, has raised a $2.1 million seed round, led by Accelerated Digital Ventures. The London based company, with a subsidiary in Lagos, Nigeria, has created a platform that allows businesses and banks to exchange and make payments in exotic Read more…

Congressional testimony reveals some faults in Facebook’s digital currency plans

Congressional testimony reveals some faults in Facebook’s digital currency plans

As Facebook continues to lay the foundation for getting some of the world’s largest payment processing and technology companies a seat at the global monetary policy table, the company faces significant obstacles to enacting its plans from both sides of the Congressional aisle. In the second of what’s sure to Read more…