MAS and JP Morgan Develop Blockchain-Based Cross-Border Payments Network

Monetary Authority of Singapore (MAS) has managed to create a new blockchain-based prototype for multi-currency payments, in collaboration with Temasek and JPMorgan. According to the developers, the network could significantly improve numerous aspects of sending payments, including the cost efficiency for businesses. MAS is currently testing its abilities, such as integration with commercial blockchain applications. All applications that yield positive results will be presented soon, during Singapore FinTech Festival (SFF), as well as Singapore Week of Innovation and TeCHnology (SWITCH). So, What’s This Blockchain Payments Network All About? The prototype…

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Crypto Banks Gain Regulatory Recognition Across the Globe

Traditional financial institutions are still leery about decentralized cryptocurrencies. They are only starting to explore the potential of digital assets. But a new breed of banks specializing in crypto have been working hard to take advantage of this trend and are gaining regulatory recognition around the world. Also read: How to Start With Bitcoin at No Cost Swiss Crypto Banks Are Going Global Switzerland has established itself as a leading crypto-friendly nation and several hundred companies from the industry are currently operating out of the crypto valley centered in the…

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Argo Blockchain Now Employs 7,000 Crypto Mining Machines

Argo Blockchain, increased the number of its crypto mining machines to 7,000, with plans to add additional 10,000 machines in 2020. Argo to Increase Crypto Mining Machines by 10,000 The crypto mining industry saw a surge in interest due to recovering prices in 2019, with many of the miners who previously left the industry making a comeback. Crypto mining heavyweight Argo Blockchain, also saw some positive development, mostly in terms of upgrading their mining gear. The company has been working on increasing its crypto miners, with quite an ambitious goal…

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Mastercard Announces ‘Fintech Express’ In Asia-Pacific Region

Mastercard proudly announced its new ‘FinTech Express’ platform at the Singapore FinTech Festival. In an interview with Bloomberg, Mastercard Asia Pacific Co-President, Ari Sarker discussed the platform, and also gave some insight into Mastercard’s withdrawal from the Libra Association. Doesn’t Quite Live Up To The Billing Sarker’s portrayal of the initiative was of expanding Mastercard’s reach for FinTech partnership. Painting Mastercard as an enabler for all players, whether traditional banking or FinTech. The platform would accelerate the way that Mastercard onboard FinTech firms onto its global platform, he said. When…

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When Bitcoin Overtakes Gold – How High Can It Go?

Flashy bitcoin price speculation is a favorite game of crypto Twitter news outlets and commentators all over. After all, who doesn’t want to hear that their modest stash of satoshis could someday moon and be worth millions? Sensation aside, there remains a well-grounded case for continued rise in price where top cryptos are concerned, and should bitcoin’s market cap overtake that of gold — an asset limited in many ways compared to crypto — prices could indeed be out of this world. Also Read: For Initial Exchange Offerings, Liquidity is…

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Becoming Nakamoto: How Satoshi Created His Alter-Ego

Captain America began life as Steve Rogers. Tony Stark only created Iron Man after being kidnapped. Bruce Wayne spent seven years in ninja training before eventually returning to Gotham as Batman. We don’t know Satoshi Nakamoto’s birth name, but we do know something about the steps he took to create Bitcoin and indelibly forge his alter-ego. Also read: Satoshi’s Final Messages Leave Tantalizing Clues to His Disappearance Unmasking the Legend of Satoshi We don’t know who Satoshi is or was, but like the superheroes of today’s Marvel and DC movies,…

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Danske Bank Caught Using Gold Bullion to Launder Illicit Funds

The Danish financial institution Danske Bank has been embroiled in a massive money-laundering scandal associated with an Estonian branch that allegedly laundered $223 billion in an eight-year period. According to documents uncovered this week stemming from 2012, Danske Bank’s Estonian branch let a select group of clients from Russia convert their money into gold bullion in order to help hide funds. Also read: China Now Censors Anti-Blockchain Sentiment, Educates Public on Bitcoin Danske Bank’s Estonian Branch Laundered Funds With Gold Bullion Danske Bank has been involved in a money-laundering conspiracy…

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Sunday Digest: Bitcoin Price And Other News

Japan celebrated the enthronement of its new emperor, Naruhito, with a festival in Tokyo on Saturday. It is not yet known whether the new emperor owns any bitcoin. Bitcoin Price: Consolidation And Retracement A week of consolidation for BTC price this week, whilst people were still arguing over what caused the ‘Xi’ pump of two weeks ago. Outflows from Bitcoin exchanges have overtaken inflows in recent weeks, suggesting a potential renewed HODLing period. The first part of the week saw modest gains with price pushing for but not quite reaching $9500…

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Tax Agencies Worldwide Plan to Crack Down on ‘Dozens’ of Crypto Tax Evaders

The U.S. Internal Revenue Service (IRS) has revealed the agency is cracking down on “dozens” of cryptocurrency users evading taxes. The IRS has partnered with tax agencies from four other countries in order to make sure tax enforcement strategies are being applied across the map. Also Read: QE Infinity: 37 Central Banks Participate in Stimulus and Easing Practices Tax Agencies From 5 Countries Are Hunting Dozens of Tax Evaders Using Digital Currencies According to the IRS, the tax agency is putting a significant amount of effort into fighting tax evasion…

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Bitcoin Cash House Launches Crypto Hub in Venezuela

A new crypto resource has emerged in Barquisimeto, Venezuela, for Venezuelans interested in learning about Bitcoin Cash and cryptocurrencies. The project, called Bitcoin Cash House, is the brainchild of Roberto Garcia and is sponsored by Bitcoin.com and Sideshift.ai. It exists as a physical location and online initiative, seeking to educate newcomers to the space on the acquisition, storage, and general use of crypto, as well as development and job opportunities. Also Read: Over 200 Venezuelan Taxis Discover the Benefits of Bitcoin Cash Welcome to the Cash House Launched just days…

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