Allaire said Acting Comptroller of the Currency Brian Brooks’ latest move is “a HUGE way to start 2021, the year that crypto and stablecoins go mass market!” He added, "the significance of this can’t be understated.”
Money launderers use crypto to clean stolen cash
According to a new report, cold, hard cash stolen from banks and ATMs is often converted into cryptocurrencies—helping cybercriminals to muddy the waters
According to the report, the main challenge for criminals in the wake of a fiat cyber heist is ensuring that ill-gotten gains are clean—making it difficult to tell those assets were from the proceeds of a crime. But the authors also found evidence of a “significant cybercrime group” converting cash obtained from ATM thefts into cryptocurrency, indicating that digital assets are being used to muddy the waters at a later stage.
Money transmitter SWIFT adds cryptocurrency capability with R3’s Corda
The current bank transaction intermediary is playing catch-up with the speed, but not cost, of blockchain
Bank transaction intermediary SWIFT announced on June 24 that if its current proof-of-concept test is successful, it will incorporate R3’s Corda enterprise distributed ledger technology (DLT) into its new high-speed payment confirmation platform, Global Payments Innovation (gpi).
As JPM Coin launches, Citi reflects on decision to cancel Citicoin
JPMorgan’s Ethereum-based digital currency has competition from IBM Blockchain World Wire’s Stellar-based stablecoin platform
In the wake of JPMorgan’s February launch of its Ethereum-based JPM Coin digital currency, Citi let it be known why it had killed the Citicoin project its innovation lab discussed—but never formally announced—back in 2015.