In a recent response to a letter from U.S. Representative French Hill, Federal Reserve Chairman Jerome Powell confirmed that the central bank has no plans to issue its own central bank digital currency (CBDC). However, Powell acknowledged that the bank is continuing to evaluate the potential costs and benefits associated with a possible Fed digital currency.
Galaxy Digital Holding Ltd reportedly plans to launch two new Bitcoin funds that will target older investors, Bloomberg reports. In a phone interview, the cryptocurrency firm’s CEO, Michael Novogratz, told Bloomberg that the plan is to attract accredited and institutional investors aged 50 to 80 to cryptocurrency investing.
LocalBitcoins has announced that it has been registered as an approved virtual currency provider by Finland’s Financial Services Authority (FIN-FSA). That registration is now required for all digital currency providers if they intend to provide services in Finland.
IRS Criminal Investigation Chief John Fort confirmed this week that his agency is now focused on investigating possible tax issues involving Bitcoin ATMs and cryptocurrency kiosks, Bloomberg Law reports. Fort revealed the agency’s interest in the machines during a recent blockchain conference in New York:
Members of the BRICS Business Council reportedly discussed the possibility of creating a joint cryptocurrency and a new international payment system, Russian financial media outlet RBC reported this week. The council apparently expressed support for the idea while meeting in Brazil at the annual BRICS Summit.
Worldline Partners with Bitcoin Suisse to Provide Merchant Cryptocurrency Payments Services in Switzerland
European payments service firm Worldline is partnering with Swiss cryptocurrency company Bitcoin Suisse to provide digital currency payment services to consumers and merchants in Switzerland. Bitcoin Suisse recently announced that the two companies have signed a letter of intent, which is designed to increase acceptance and adoption of digital currency across the country.
The Chinese People’s Liberation Army (PLA) newspaper, the PLA Daily, proposed this week that the military’s adoption of blockchain technology could enable it to reward soldiers with digital currency tokens, the South China Morning Post reports.
In a November 12 court filing, Messaging app service Telegram has asked the United States District Court for the Southern District of New York to dismiss the complaint filed against it by the U.S. Securities and Exchange Commission. The SEC’s complaint had enabled regulators to obtain an emergency injunction preventing Telegram from issuing its Gram token to investors, based on the commission’s determination that the tokens are securities.
Russian media outlet Tass recently reported that the Central Bank of Tunisia (BCT) was preparing to launch its own blockchain-based digital currency. In a press release, the bank has denied those claims, including reporting that suggested that it had partnered with blockchain firm Universa and planned to host its digital dinar on that company’s blockchain.
Former European Central Bank President Jean-Claude Trichet had some harsh words for cryptocurrency over the weekend, the South China Morning Post reports. Trichet noted that he’s opposed to Bitcoin and suggested that cryptocurrency should not represent the future of money.
Silicon Valley venture capital firm Andreessen Horowitz will be launching a new course for entrepreneurs who want to create cryptocurrency and blockchain startups, CNBC reports. The firm announced the news on Friday. The fund’s co-head, Chris Dixon, told CNBC that the project will offer entrepreneurs a “new way” to build their startups”
Tunisia is reportedly gearing up to move some of its national currency to a blockchain platform, creating its own central bank digital currency, Russian news outlet Tass reported this week. The digital dinar will be backed by paper currency and will include anti-counterfeit features.
The United Nations Security Council Sanctions Committee on North Korea is accusing North Korea of laundering cyber currency through a blockchain-based shipping and logistics firm in Hong Kong. According to South Korean newspaper The Chosun Ilbo, the money laundering scheme is part of North Korea’s broader efforts to evade U.S. and international sanctions.
The Hong Kong Securities and Futures Commission has published new rules that enable digital currency exchanges to obtain operating licenses, Reuters reports. The move is reportedly part of a broader effort to improve standards, reduce fraud, and provide better regulation of the industry.
Chinese media outlet Global Times reported on November 4 that China recently launched a new blockchain-based identification system for the nation’s smart cities. The Times relied on reports from the state-run Xinhua News Agency, which confirmed that the new ID system was launched in Shijiazhuang, North China’s Hebei Province.
In June 2018, researchers John Griffin and Amin Shams published a paper arguing that trading patterns on the blockchain suggested that the Tether stablecoin had been utilized to manipulate the price of Bitcoin during 2017’s historic cryptocurrency bull run. A new forensic study from the duo has reportedly found that the manipulation was caused by “one large player.”
Innovative technology company Horizon State recently announced its return to the marketplace, with new ownership and management. According to an October 31 press release, Timothy Goggin is the firm’s new Chief Executive Officer.
France has teamed up with four other European nations in a united effort to prevent Facebook from launching its Libra global digital currency payment system next year, Politico reports. Deputy finance ministers from France, Germany, Italy, the Netherlands, and Spain reportedly made their case to other EU nations in a closed meeting in Brussels on Monday.
Argentinians will no longer be allowed to use their credit cards to purchase digital assets like Bitcoin, due to new exchange controls imposed by the nation’s central bank, infobae reports. The ban on credit card use for such purchases was included in an array of capital controls announced on October 31, 2019.
Swiss-based digital asset bank Sygnum announced in a press release Thursday that it has been granted a capital markets services (CMS) license by the Monetary Authority of Singapore (MAS). That approval will enable the company to begin providing digital asset investment strategies and product offerings to qualified investors in Singapore.