Swiss Regulator Grants First-Ever Banking Licenses to 2 Blockchain Firms

By CCN Markets: Blockchain projects around the world have been seeking approval, or for that matter, concrete guidance, from regulators such as FINMA for the last several years. FINMA, the Swiss financial regulatory watchdog, has approved two requests for banking licenses. The two licenses were issued to blockchain businesses. These regulatory strides are not likely […]

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J.Lo and A-Rod Backed a Fintech Play. They Should Invest in Bitcoin Next

By CCN Markets: It’s not unusual to see A-listers diversify their income streams by investing in promising ventures. We recently learned that celebrity couple Jennifer Lopez and Alex Rodiguez have dipped their toes into the financial industry by investing in fintech firm Acorns Grow Incorporated. Welcome to the family. 🙌🌳 #GrowYourOak pic.twitter.com/bVrakSwgG5 — Acorns (@acorns) […]

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China Can Crush Facebook’s Libra With Its Digital Currency: Huawei CEO

The founder and CEO of Chinese telecommunications giant Huawei, Ren Zhengfei, has dismissed concerns that Facebook’s planned cryptocurrency Libra could dominate the world at the expense of China and its tech firms, Sina reports. Noting that countries have more power compared to internet firms, Zhengfei stated that China could issue its own digital currency that […]

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Destination Dystopia: Facial Recognition Payments Already a Thing in China

China appears to be head and shoulders above the rest of the world when it comes to new ways of processing financial transactions. Digital payments are booming in the hybrid communist-capitalist country, so much so that facial recognition payments are already a thing: The new way to pay in China. No card, no phone, just […]

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‘A Clear Threat’: Big Four Australian Bank Fears Facebook’s Crypto Libra

By CCN Markets: Facebook’s foray into cryptocurrencies with Libra has met with a ton of mixed reactions. While some are going gaga over the social media giant’s latest effort that’s supposed to enable cross-border payments at the tap of a button, the traditionalists are taking a dim view. NEW: The top lawmakers on the House Financial Services Committee are targeting Facebook’s new cryptocurrency, #Libra. Chairwoman Maxine Waters says it’s another example of Facebook’s “unchecked expansion,” urges execs to testify and calls on FB to stop working on the currency. pic.twitter.com/xOklWsfLdx — Brian Fung (@b_fung) June 18, 2019 Governments across the

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Crypto’s Gender Divide Surfaces: Only 5% of Coders Are Women

By CCN Markets: Less than 5% of crypto developers are women, according to an analysis of the 100 most popular blockchain projects submitted to GitHub, Microsoft‘s code-sharing site. The results are not scientific because they assumed a coder’s gender based solely on their user name. Moreover, there was no verification of whether the user was actually male or female. However, the results are not surprising considering the tech industry has historically been male-dominated. Analyst: 95% of Crypto Developers Are Men Journalist Corin Faife posted his analysis on Medium. Faife found that only 4.6% of “female” names were used for the

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CCN is Shutting Down after Google’s June 2019 Core Update

Dear readers, Let’s get straight to it. Google’s June 2019 Core Update rolled out on June 3th 2019 and CCN’s traffic from Google searches dropped more than 71% on mobile overnight.   As data from SEO analyzer Sistrix shows, our visibility on Google dropped from 1.2 to less than 0.6. You might say we ought not to face any issues since we’ve been at those levels and lower, in the past. What you need to realize is that we have added more people to the team, both full-timers and part-timers. We do not want to downsize the team, we do

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All-White South African Protest Community Launches Cryptocurrency

By CCN: The town of Orania, South Africa, claims it’s not racist, but it’s only ever allowed white people to live within its walls. Wholly owned by a single community corporation, the city was established after Apartheid ended and has always had its own currency. Now the town of about 9000 people is moving to cryptocurrency. The e-Ora The Ora is the community’s native currency. It amounts to a stablecoin with the South African rand as a peg, but now a digital equivalent emerges. Both notes are issued and controlled by Orania’s version of a central bank, called The Orania

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World’s Biggest Banks Splash $63 million on a Blockchain Digital Currency

By CCN: Some of the world’s biggest banks are partnering with London-based Fnality International to create a blockchain digital currency for faster cross-border transfers. These banks from Japan, Europe, and the United States are hoping that issuing a utility settlement coin (USC) will lower transaction costs of cross-border payments by cutting out intermediaries. Fnality International has received $63.1 million in capital from the 14 participating banks. These banks include Barclays of Europe and the United States’ State Street; Japan’s MUFG Bank and Sumitomo Mitsui Banking Corp as well as UBS and Credit Suisse. The Japanese Banks are reported to have

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Robinhood Attracts $200 Million as Valuation Swells to $7 Billion: Report

By CCN: Who says millennials don’t like to save and invest their money? By building a commission-free stock brokerage and trading app with a slick interface, Robinhood has built a $7 billion business in just six years. That’s the company’s valuation as it nears a $200 million funding round from its current financial backers, Bloomberg reports. The investment round is still unfolding and once complete could reportedly result in Robinhood fetching a valuation as high as $10 billion. Robinhood closed its most recent funding round last year at which time a $5.6 billion valuation was attached. The stock trading app

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