The Swiss Financial Market Supervisory Authority, or FINMA, said Friday that it will propose an ordinance for stricter anti-money laundering laws for cryptocurrency businesses. The proposal calls for reducing the threshold for reporting cryptocurrency transactions from the current limit of 5,000 Swiss Francs (roughly $5,120) to 1,000 Swiss francs (roughly $1,025).
Tether launches gold-backed cryptocurrency
The new Tether Gold tokens will be backed by one fine troy ounce of gold stored in a secure Swiss vault, the company said
Tether launched a gold-backed cryptocurrency, tether gold (XAUT), that can be redeemed for one fine troy ounce of gold stored in a secure Swiss vault—assuming you can redeem 430 tokens currently worth about $670,000 at once.
Algorand puts air quality test results on a blockchain
The DeFi-focused blockchain firm is teaming up with PlanetWatch to create an immutable record of global air quality test results
In addition to using Algorand’s open-source, permissionless blockchain to quickly disseminate and permanently record pollution readings, PlanetWatch plans to use it to reward volunteers who maintain pollution sensors with Planet utility tokens.
Analysis: Cryptocurrency experts tell Senate innovation requires regulation
In the wake of Facebook’s Libra plan, a Senate Banking Committee hearing shows Congress getting serious about cryptocurrency regulation
A week after the U.S. government’s inaction on cryptocurrency regulation drove Jeremy Allaire to move most of his company out of the U.S., the Circle chairman and CEO told congress why.