IMF Warns That Cryptocurrencies May Create Vulnerabilities In International Financial System

The International Monetary Fund has issued its World Economic Outlook for October 2018. Within the report, the IMF makes a notable but limited warning regarding cryptocurrencies. The International Monetary Fund (IMF) is composed of 189 member countries that work toward global monetary cooperation, financial stability, international trade, and sustainable economic […]

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Petition Would Make XRP Official Currency Of 2020 Olympics

One man’s petition to make XRP the official cryptocurrency of the next Olympic games has nearly 12,000 signatures … and zero chance of having an effect. An online petition, created months ago but recently gaining steam, has gained some attention this week in the crypto-press. The Change.org petition, apparently created […]

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US and China exchange new trade war blows as latest round of tariffs takes effect

U.S. President Donald Trump’s administration levied tariffs of 10 percent on $200 billion of Chinese products that include furniture and appliances, with the rate set to increase to 25 percent by year-end. In response, Chinese President Xi Jinping’s government imposed taxes on 5,207 kinds of U.S. products, valued at about […]

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Financial Action Task Force To Create Global AML Standard

The group was asked to clarify anti-money laundering standards at the July G20 meeting. The president of the Financial Action Task Force (FATF) believes it’s close to reaching a “consensus across nations” for anti-money laundering (AML) regulations and that global standards could be agreed upon as soon as October. The […]

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Rising US-China trade tensions 'couldn't come at a worse time': Iowa agriculture secretary

The ratcheting of the U.S.-China trade war is unfortunate and comes at a lousy time for farmers, according to Iowa Agriculture Commissioner Mike Naig. The state official said farmers in Iowa are in the harvest season for key crops such as soybeans and corn, which are among the farm commodities […]

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Japan’s Financial Services Agency Chief Says ‘No’ To Excessive Crypto Regulation

The recent appointment of Toshihide Endo may mean that the regulator’s stance on crypto regulations is softening. According to an August 22 report in Reuters, the new chief of Japan’s Financial Services Agency (FSA) sees no need for excessive regulations governing the use of cryptocurrency. Toshihide Endo, who was appointed […]

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Venezuela Further Ties Economy To Its National Crypto

Venezuelan President Nicolás Maduro has announced the petro will become an official unit of account, with salaries and prices anchored to the oil-backed national cryptocurrency. In a recent announcement, President Maduro of Venezuela said the petro, along with the soon to be released sovereign bolivar, will become an official accounting […]

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New York Names Cynthia Hanawalt As New Investor Protection Bureau Chief

A new leader of the agency charged with enforcing the state’s securities laws has been chosen, and she seems cautious of cryptocurrency. On Tuesday, the New York attorney general’s office announced the appointment of a new chief of the Investor Protection Bureau. Cynthia Hanawalt, formerly the head of the bureau’s […]

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Hong Kong, Abu Dhabi To Develop Cross-Border Trade Financial Network Using DLT

The Hong Kong Monetary Authority and the Financial Services Regulatory Authority of the Abu Dhabi Global Market will collaborate on FinTech development. On Tuesday, Nelson Chow, chief FinTech officer of the Hong Kong Monetary Authority (HKMA), and Richard Teng, CEO of the Financial Services Regulatory Authority (FSRA) of the Abu […]

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Treasury Secretary Mnuchin says investment restrictions will apply to 'all countries that are trying to steal our technology'

Treasury Secretary Steven Mnuchin said Monday that a forthcoming statement from the government related to reports of investment restrictions will apply to China and other countries that threaten U.S. intellectual property rights on technology. “On behalf of @realDonaldTrump, the stories on investment restrictions in Bloomberg & WSJ are false, fake […]

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