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Over the last several weeks, crypto asset prices have climbed to new heights. Bitcoin alone has broken the $300 billion market capitalization barrier, equivalent to the M1 money supply of a number of countries – from Poland, to Belgium or Austria. We can point to multiple underlying causes,...
The cryptocurrency and banking worlds continue to draw closer together with digital asset custodian Anchorage seeking a national charter from the U.S. Office of the Comptroller of the Currency.The startup’s trust company unit, based in South Dakota, has applied to the OCC to convert to a national bank,...
When it comes to regulation and necessities like banking, crypto entrepreneurs haven’t always had the easiest time. Recently, I’ve discovered some of my crypto clients are having trouble obtaining an important business planning tool: directors and officers (D&O) liability insurance. In my opinion, as I’ll explain, a combination of...
U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton will leave his role at the end of this year.Announced in a press release Monday, Clayton led the U.S. regulator for 3.5 years and thought what the SEC called a “period of historic productivity and unprecedented challenges.“Thanks to the...
In the aftermath of a divisive U.S. presidential election that seems to mark the tail end of the 20th Century, I’m reminded of the daughters of the beginning of the Industrial Revolution. The “Mill Girls” of Lowell, Mass., made up 75% of all textile workers in the U.S....
In the lore of digital disruption, Eastman Kodak Co.’s downfall looms large.Kodak was once one of the world’s most powerful companies. But it failed to act on digital cameras and online photo sharing, despite seeing the trends years before. (Kodak engineer Steve Sasson created the first digital camera...
European Central Bank President Christine Lagarde said she believes the region’s monetary authority will move to launch a digital version of the euro in the next two to four years. “We might well go in that direction,” Lagarde said Thursday on a virtual panel with Federal Reserve Chair...
Russia’s Ministry of Finance has proposed new amendments to the country’s coming law on crypto assets that could soften the requirements for cryptocurrency taxpayers, news agency RBK reported Thursday.According a package of draft bills, individuals must report their holdings if annual transactions exceed 600,000 Russian rubles (about $7,800)....
Several U.S. lawmakers are displeased by the Office of the Comptroller of the Currency and its focus on crypto and fintech during a pandemic-caused recession.Six members of Congress faulted the banking regulator’s stance on crypto custody and stablecoin services, as well as its plans to offer a fintech...
Centralized exchange tokens have been skyrocketing this year, but none more so than Hxro, which has gained over 1,000% year-to-date. One of the reasons they have been doing so well might be because exchange tokens have been taking on the behavior of equity in the companies behind the...