Fidelity Investments announced Monday that it will be launching a new company that will focus on managing digital currency assets for its clients, according to Bloomberg. The company revealed that its Fidelity Digital Assets business will provide crypto security, custody, trade execution, and customer services for trading firms, hedge funds, and other Fidelity customers.
U.S. Senators who attended the Banking Committee hearing on cryptocurrencies Thursday were provided two vastly different assessments of the technology and its potential, according to a report from the Washington Examiner. The hearing featured testimony from Bitcoin skeptic Nouriel “Dr. Doom” Roubini and Coin Center research director Peter Van Valkenburgh.
Millions of cryptocurrency enthusiasts rely on the Blockfolio app to track their digital currency portfolio in real-time. On Wednesday, the company announced that its latest funding efforts have raised $11.5 million in capital, according to Fortune.
The Swiss Financial Market Supervisory Authority (FINMA) announced today that it has granted a cryptocurrency asset management license to Crypto Finance AG subsidiary Crypto Fund, according to reports from Swiss media outlet Swissinfo.
Norway’s Financial Supervisory Authority has announced that its new money laundering regulations will go into effect on the 15th of October. The new rules will require Norway’s digital currency exchanges and cryptocurrency storage services to properly register with regulators and comply with the provisions of the Money Laundering Act.
In August, the Securities and Exchange Commission confirmed that it would be reviewing its rejection of nine Bitcoin ETF applications just one day after it rejected them. This week, regulators provided a deadline that suggested a final decision could be rendered before the end of October.
Cameron and Tyler Winklevoss’ Gemini Trust Co. announced in a press release this week that it has secured insurance coverage for client cryptocurrency holdings maintained by the exchange, according to a press release. The coverage was secured through “a global consortium of industry-leading insurers and arranged by Aon” and complements the Federal Deposit Insurance Corporation that protects customers’ U.S. dollar holdings.
TD Ameritrade announced on Wednesday that the company is investing in the ErisX exchange, according to a report from CNBC. During a phone interview, TD Ameritrade futures and foreign exchange managing director JB Mackenzie confirmed that the Omaha-based brokerage firm’s clients have been requesting greater access to cryptocurrency trading.
During a question and answer session at the Swell by Ripple Conference in San Francisco yesterday, former U.S. President Bill Clinton discussed his presidency, government’s role in preventing financial and other disasters, and aspects of the current cryptocurrency and blockchain revolution. Clinton praised blockchain’s potential benefits but cautioned that those benefits could be lost due to divisiveness and bad policies:
Bank of Canada deputy governor Timothy Lane recently confirmed that the bank is currently exploring “key questions” related to the potential issuance of a central bank digital currency, according to a report from Toronto news outlet CP24. He reportedly made the comments during a University of Calgary speech.
Members of Congress met this week with more than 50 representatives from the worlds of cryptocurrency, finance, and investment capital at a roundtable discussion in the U.S. capital. The crypto representatives reportedly urged congressional representatives to provide greater regulatory clarity for the industry. The lawmakers have responded to those calls by delivering a letter to SEC Chairman Jay Clayton that urges the agency to clarify how it intends to approach regulation for the cryptocurrency industry.
The distributed ledger system that most people know as the blockchain is a truly ingenious innovation with many positive world-changing implications. It not only enables digital currencies to thrive, but also provides new options for self-empowering digital payments and new ways to maintain time-stamped, immutable record-keeping. Merchants will be able to eventually use digital currencies for 100% of a new generation of debit and credit card transactions, while enjoying the benefit of a completely auditable transaction trail thanks to the blockchain.
Before that vision can become a reality, however, there are many challenges and obstacles that need to be overcome. Fortunately, DNotes Global Inc is committed to identifying those challenges and creating viable solutions that overcome obstacles. DNotes’ Blockchain Integrated Invoicing is one clear example of that commitment.
Last week, Goldman Sachs confirmed that it is exploring a new Bitcoin derivative for its clients. This week, Bloomberg has reported that Morgan Stanley is also planning to offer its clients Bitcoin derivative trading. The report cited an unnamed “person familiar with the matter” who revealed details of the the bank’s plans.
Greenwich Associates released a new survey report on Wednesday suggesting that finance executives have an optimistic view of cryptocurrency’s future role in their industry. According to the report, authored by the consulting firm’s Market Structure and Technology group vice president Richard Johnson, more than 70 percent of those executives said that digital currencies are here to stay.
One of the things that makes DNotes truly unique in an industry packed with rival digital currencies is the fact that the DNotes currency doesn’t exist within a vacuum. Instead, it exists within an entire ecosystem of products and services designed to support and facilitate its overall mission. The components of that ecosystem were all specifically created to further DNotes’ goal of achieving mass acceptance and adoption, while simultaneously providing invaluable services to the industry and public. Our innovative CRISP offerings are a perfect example of how that works.
As a core component of the DNotes ecosystem, CRISP is strategically linked to that system and was created to help us achieve DNotes’ ultimate objective: becoming an inclusive digital currency in global commerce, for the benefit of everyone. In this article, I will explain how CRISP fits into the DNotes and DNotes Global model in a way that benefits everyone on the network.
Earlier this week, multiple media outlets reported that Goldman Sachs had dropped its plans to launch a cryptocurrency trading desk for its clients. The bank’s Chief Financial Officer, Marting Chavez, called those reports “fake news” while speaking at the TechCrunch Disrupt Conference on Thursday.
EU ministers are scheduled to meet in Vienna on Friday. When they do, they’re expected to receive a report from a Brussels-based think tank, Bruegel, that recommends EU countries create a common set of rules to regulate the nascent digital currency industry. The report’s authors assert that EU-level regulation of exchanges and ICOs are needed to manage risk and maximize the potential benefits offered by cryptocurrencies and the blockchain.
According to reports from CNBC and other media outlets, financial giant Goldman Sachs has apparently dropped its near-term plans to launch a cryptocurrency trading desk for its clients. The bank has been considering options to provide crypto trading services since at least late last year. Some analysts have already suggested that the news directly impacted prices in the cryptocurrency markets, which dropped sharply on Wednesday.
“If at first, the idea is not absurd, then there is no hope for it.” – Albert Einstein
In recent years, Initial coin offerings have become a popular way for many blockchain-related projects to obtain needed capital. In fact, 2017 saw ICOs bring in roughly six times as much capital as traditional venture capital funding rounds. And while some observers might have expected that fundraising success to taper off as cryptocurrencies declined in value in 2018, ICOs have continued to attract substantial investment. Unfortunately, that success has also attracted attention from regulators, and calls for greater oversight of the cryptocurrency industry and its fundraising efforts.
Recently, DCEBrief had the opportunity to speak with DNotes Global Inc co-founder and CEO Alan Yong and we asked him to share his thoughts on the current issues surrounding initial coin offerings. Below is the transcript of that conversation.
“If at first, the idea is not absurd, then there is no hope for it.” – Albert Einstein
True to the words of Albert Einstein himself, DNotes global digital currency – a perceived underdog among industry peers – has often received short thrift from naysayers who have yet to formulate a valid argument against the currency. That’s primarily because they haven’t taken the time to fully understand it. After all, DNotes is not just another cryptocurrency, though it is easy to overlook the uniqueness of DNotes’ path because of the sheer massiveness of its scope. DNotes is not just simply targeting niche markets like apps or software, but instead is focused like a laser on becoming the global digital currency of the future