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.
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SEC finally approves cryptocurrency offering, green-lighting Blockstack token offering
The distributed web platform developer can sell up to $50 million worth of tokens to the public
The U.S. Securities and Exchange Commission has finally given a blockchain company the O.K. to sell tokens directly to investors—sort of. The SEC on Wednesday approved blockchain startup Blockstack’s application to raise money via a token offering, the first time it has allowed this type of fundraising in the cryptocurrency industry, according to the Wall Street Journal. The SEC has sued and fined several companies for initial coin offerings (ICO) that the agency said violated securities law. The action “is a massive step towards the much-needed clarity for the US crypto space,” according to social trading platform eToro’s senior market analyst, Mati Greenspan. “This could be considered the first regulated…
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Christine Lagarde’s nomination to head the ECB is good news for Facebook’s Libra, says eToro’s Mati Greenspan
The European Central Bank’s incoming leader will bring a positive outlook on digital assets
Facebook’s new Libra stablecoin got a break in Europe last week with the announcement that Christine Lagarde has been nominated to be the new head of the European Central Bank, says eToro’s senior market analyst, Mati Greenspan.
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Binance launches stablecoin, challenging Tether’s dominance
The leading cryptocurrency exchange is seeking to expand the stablecoin market with its British pound-pegged BGBP
Leading cryptocurrency exchange Binance plans to launch a stablecoin within two months, in an apparent challenge to the dominance of scandal-plagued Tether.
