• Feds are coming for DeFi
    Cryptocurrencies,  Regulation

    The feds are coming for DeFi

    In the wake of criminal charges leveled at exchange and derivatives platform BitMEX, decentralized finance projects may find they’re not untouchable

    The idea of decentralized finance is that there is no central authority in charge to control the exchange’s operations doesn’t mean they can get away with lax or no know-your-customer (KYC) and anti-money-laundering (AML) compliance. Or that there is no one to be held accountable.

  • Huobi’s regulator-friendly financial blockchain money laundering

    Huobi’s regulator-friendly financial blockchain launches beta

    Huobi’s regulator-friendly financial blockchain framework is aimed at DeFi applications ranging from payments and tokenized assets to lending and identity verification systems, according to a release. It also can host distributed exchanges (DEX) and private blockchains, among other services.

  • Congress
    United States

    Eyeing the future, US Congress moves to define ‘blockchain’ and ‘cryptocurrency’

    Senate action on Blockchain Promotion Act seen as vital to growth

    The U.S. Senate Commerce, Science and Transportation Committee voted to approve the Blockchain Promotion Act of 2019 on July 12, giving the Commerce Department one year to come up with “a recommended definition of the distributed ledger technology commonly known as ‘’blockchain technology.’”

  • FinCEN wallet rule
    Bitcoin,  Libra,  United States

    Mnuchin doubles down on President Trump’s Bitcoin, Facebook bashing

    Treasury Secretary said potential for abuse of Libra cryptocurrency is a national security issue

    Treasury Secretary Steven Mnuchin called cryptocurrencies a “national security issue” that threatens to enable drug dealers, human traffickers, and terrorists during a press conference Monday.