US Treasury Secretary: Regulatory Fears Forced Libra Exodus

U.S. Treasury Secretary Steven Mnuchin said backers of Facebook’s cryptocurrency Libra dropped out of the project over concerns that the stablecoin project would not meet regulatory standards. Speaking on CNBC, Mnuchin said that if Libra wouldn’t meet US money-laundering standards via the Financial Crimes Enforcement Network, it could open them up to enforcement actions. “I […]

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People With Least Knowledge Most Positive on Crypto’s Future: ING Survey

People with less knowledge about cryptocurrency are the most likely to be positive on its future, according to new research from Dutch bank ING. In a survey published Wednesday – which polled around 1,000 people in each of 15 mostly European countries – ING found that, overall, the level of detailed knowledge about crypto is […]

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Wells Fargo to Pilot Dollar-Linked Crypto for Internal Settlement

U.S.-based financial giant Wells Fargo is developing a U.S. dollar-linked cryptocurrency that will run on the firm’s first blockchain platform. Dubbed Wells Fargo Digital Cash, the stablecoin will be used in a pilot initially for internal settlement across the company’s business. The firm said in a press release on Tuesday that the digital token will […]

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Largest Bitcoin ATM Network Coinme Raises New Funding from Ripple’s Xpring 

Coinme, which provides kiosks and ATMs for digital currencies, raised $1.5 million in a Series A-1 financing round that included Ripple’s subsidiary Xpring and Blockchain Finance Fund, the company said. Proceeds from the funding will be used for additional licensing to expand its U.S. and international coverage. Co-founder and CEO Neil Bergquist told CoinDesk that […]

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Crypto Sleuthing Firm Elliptic Raises $23 Million in Fundraise Led by SBI

Blockchain forensics firm Elliptic has raised $23 million in a Series B funding round led by Tokyo-based financial institution SBI Holdings. Announced Wednesday, the funding will help drive Elliptic’s Asia expansion, which includes a recently opened Singapore office and one in Japan that will open this week. Tomoyuki Nii, executive officer for overseas investment at […]

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Walmart Wants to Patent a Stablecoin That Looks a Lot Like Facebook Libra

Retail giant Walmart has applied for a cryptocurrency patent that bears some similarities to the Libra token proposed by Facebook in mid-June. In its application with the U.S. Patent and Trademark Office, Walmart touts the concept of a digital currency “tied to a regular currency” – that is, what’s commonly known as a stablecoin. Libra […]

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What Indonesia Reveals About Facebook’s Libra Plan

Facebook published plans for the Libra cryptocurrency in seven languages, including Indonesia’s Bahasa – a move that offers perhaps the clearest glimpse of what Facebook’s fintech ascent might look like. “Indonesia has the fourth-highest number of Facebook users in the world,” Pang Xue Kai, co-founder of the Indonesian crypto exchange Tokocrypto, told CoinDesk. “If Facebook’s […]

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Facebook Seeks Counsel to Forge Blockchain Partnerships for New Products

Facebook’s blockchain recruitment drive continues, as the social network looks to hire a lead commercial counsel for its initiatives with the technology. A new job posting at the company’s career page says the position will be responsible for “drafting and negotiating a wide variety of contracts related our blockchain initiatives, including partnerships needed to launch […]

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Swiss Startup to Produce ‘Banknotes’ for Marshall Islands’ Official Cryptocurrency

Switzerland-based crypto hardware wallet maker Tangem says it has been selected by the Republic of the Marshall Islands to produce the “physical blockchain notes” for the nation’s planned national digital currency. Tangem announced the news Monday, saying the blockchain notes will be used to store the republic’s Sovereign (SOV) digital currency, which is being launched as […]

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R3’s New Corda App Supports Payments in XRP Cryptocurrency

Distributed ledger technology provider R3 has launched the Corda Settler, an application aimed to facilitate global cryptocurrency payments within enterprise blockchains – and it’s starting with XRP. R3 said XRP is the first globally recognized cryptocurrency to be supported by Settler, bringing the Corda and XRP ecosystems into closer alignment – something of a rapprochement […]

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