Stellar’s Plan to Win Global Payments: Play Nice With the Finance Cops

MEXICO CITY – There’s a mobile app approved by the Mexican government that lets 20,000 migrant workers in the U.S. pay bills back home over the Stellar network. That’s according to Marco Montes Neri, the creator of the Saldo app, which relies on peso-backed stablecoins. “Stellar has created a set of protocols and a set of standards to handle all these regulatory obligations,” he said, adding: “If you want to touch real people’s money, you really need to play ball with regulators.” This theme came up again and again at the Stellar…

The SEC Has Rejected Every Bitcoin ETF. This Firm Thinks It Has a Solution

One company thinks it knows how to get a bitcoin exchange-traded fund (ETF) approved by U.S. regulators. Wilshire Phoenix, a relatively young financial firm in New York, filed to launch the United States Bitcoin & Treasury Investment Trust ETF in May with NYSE Arca. At that point, a dozen bitcoin ETF proposals had already been swatted down by the U.S. Securities and Exchange Commission (SEC) – including nine in one day. But unlike other ETF applications, Wilshire Phoenix’s ETF will invest in both bitcoin and U.S. Treasury securities, commonly referred to…

Tassat Is One Step Closer to Offering Crypto Derivatives With CFTC Approval

Tassat Derivatives has successfully acquired a swap execution facility (SEF) registration after securing regulator sign-off. The U.S. Commodity Futures Trading Commission (CFTC) announced Thursday that it had approved the transfer of a SEF registration from trueEX LLC to Tassat on Nov. 6, nearly four months after the two companies reached an “agreement in principle.” TrueEx was first granted the registration in January 2016. Tassat, formerly known as trueDigital Holdings, said in July that it was looking to launch a “fully-regulated” cryptocurrency derivatives exchange in the U.S., on which it would…

Crypto Is A “Significant Problem That Will Get Bigger And Bigger”

Director for the Federal Bureau of Investigation (FBI) Christopher Wray testified before the Senate Homeland Security Committee at a hearing on security threats facing the United States. On Nov. 5, during the hearing before the U.S. Senate Committee On Homeland Security And Governmental Affairs, senators asked leaders from the FBI, Department of Homeland Security and the National Counterterrorism Center questions on topics including counterterrorism efforts, foreign influence in elections, cybersecurity measures, border security, and of course, cryptocurrencies. FBI might find itself walled off by new technology Former Presidential Candidate and…

Crypto Miner Steals $5M Worth of Computing Power Using Identity of Riot Games Founder

The millionaire game developer, Marc Merril, was a victim of the Singaporean man who stole identities to utilize Amazon Web Services’ and Google cloud computing power for crypto mining. A case of stolen identity In a recently unsealed court filing on Nov. 7, Forbes discovered that Marc Merrill, the co-founder of Riot Games,  was the previously anonymous victim of Singaporian national Matthew Ho’s identity theft scheme. Riot Games is most famous as the developer behind the massively successful League of Legends. Ho allegedly used Merrill’s American Express credit card information…

Pro-Crypto Silvergate Bank Goes Public in Listing on NYSE

Shares of pro-crypto Silvergate Bank were launched for trading on the New York Stock Exchange (NYSE) on Nov. 7. Silvergate celebrates IPO day Silvergate Capital (NYSE:SI), a California-based commercial bank focused on digital currency businesses, is now officially listed on the NYSE, opening at $12.75, the NYSE tweeted Nov. 7. In conjunction with the event, Silvergate is celebrating its initial public offering (IPO) day today, according to the NYSE. The news follows Silvergate Capital Corporation’s announcement of the pricing of its IPO of 3,333,333 shares of its Class A common…

At Current Rates, Cash App To Buy 16% of New BTC Supply After Halving

Square’s mobile payments application Cash App will be buying 16% of Bitcoin’s (BTC) new supply if the company keeps buying at the same rate after the halfing if the price does not go up. Twitter account dedicated to Bitcoin Rhythm pointed out in a tweet from Nov. 7 that the company’s Bitcoin buying rate will account for 16% of the total new Bitcoin per quarter after the block reward halving. The event will see the amount of Bitcoin created with each new block cut in half. Future price changes not…

Searches for BTC Jobs Drop 53%, Employer Demand Up 26% in 2019

Searches for crypto-related jobs have dropped 53%, while the share of job postings in the industry has surged 26% in 2019, new research says. On Nov. 7, Texas-based recruitment platform Indeed.com has published a new research devoted to the analysis and prospects of the job market in blockchain and crypto industry. To deliver the report, Indeed analyzed the percentage change in the share of job postings and share of job searches per million for roles related to Bitcoin (BTC), cryptocurrencies and blockchain from 2015 to 2019. Discrepancy between growth rates…

uBUCK Signs Strategic Alliance Agreement with Deltec Bank & Trust

LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) and its subsidiary uBUCK Technologies announced some exciting news this week that will offer the digital wallet and payment platform a major edge on its competition. uBUCK announced that it has signed an alliance agreement to form a strategic commercial relationship with Deltec Bank & Trust, a diversified independent financial institution that is based in The Bahamas. Deltec, which provides a range of private banking expertise, corporate and merchant banking capabilities, digital asset financial services, fund administration, investment management, and insurance solutions to its global clients, will…

BTC Bullion: Three Interpretations of Bitcoin as “Digital Gold”

Bitcoin is often described as “digital gold.” While this is an oversimplification, it can be a helpful way of understanding some of bitcoin’s most critical properties — the things that “give bitcoin value.” One of bitcoin’s preeminent use cases is in its role as a store of value, a status that gold has long embodied. Though the price is volatile, many Bitcoiners who believe in its long-term value to an increasingly decentralized society see it as a long-term investment, and citizens of countries whose economies are distressed regularly turn to…