European banks must speed up their investments in blockchain technology in order to recapture their own capital markets from American financial institutions, global consulting firm Bain & Company warned in a report released on September 3. A day later, International Monetary Fund (IMF) chief Christine Lagarde told the European Parliament’s Economic and Monetary Affairs Committee that with bank profits low and FinTech firms gobbling up investments, EU central banks must welcome new technologies—including digital currencies—in order to remain competitive.
In light of a hack that saw up to 60,000 customers’ IDs stolen, leading cryptocurrency exchange Binance is giving all affected users VIP status that brings a 10% discount on bitcoin trading fees.
Binance has offered a $300,000 reward for information leading to the capture of an individual who posted 10,000 photos of users and their identity documents that may have come from the leading cryptocurrency exchange’s customer data.
In a joint statement on August 6, data protection regulators from the United States, United Kingdom, European Union, Canada, and Australia came head-on, issuing a joint statement slamming the Libra project and Facebook for failing to address the fledgling cryptocurrency’s privacy risks.