• OCC banks cannot discriminate crypto
    Former Coinbase chief legal officer and current Acting Comptroller of the Currency Brian Brooks is at it again (Photo: Office of the Comptroller of the Currency)
    Cryptocurrencies,  Politics,  Regulation

    Treasury Dept says banks cannot discriminate against industries like crypto

    Acting Comptroller of the Currency Brian Brooks, a former Coinbase executive, issued another ruling aiding cryptocurrency companies

    November 20, 2020 /

    Targeting one of the cryptocurrencies biggest complaints, the Office of the Comptroller of the Currency proposed a rule on Nov. 20 that would require banks to “provide access to services, capital, and credit based on the risk assessment of individual customers, rather than broad-based decisions affecting whole categories or classes of customers.”

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  • German finance minister pans libra name
    German Finance Minister Olaf Scholz sees Libra as a threat Photo: Pixabay)
    Cryptocurrencies,  Politics

    I do not support cryptocurrencies: German Finance Minister

    The minister argued that the German and European banking systems need digital innovation, but without private digital currencies playing a role in it

    November 20, 2020 /

    Scholz’s remarks concerning private digital assets—which arguably includes all cryptocurrencies and stablecoins—is just the latest confirmation that the financial system is improving as a way to protect itself from private competition.

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  • Huobi purchase Bitflyer bithumb
    Are Chinese legal troubles are interfering with acquisitions by Huobi Group and its founder Leon Li (Photo: Huobi Group)
    Politics,  Regulation

    Is China’s top crypto exchange Huobi looking to acquire South Korea’s and Japan’s top exchanges?

    A reporter suggests that Huobi is willing to acquire Japan’s largest exchange Bitflyer and Korea’s largest exchange Bithumb, but an investigation has put the deals on hold

    November 17, 2020 /

    The acquisition of the two competitors would make Huobi one of the most powerful firms in crypto, considering that according to CoinMarketCap data Huobi is already the second most liquid cryptocurrency spot exchange. Bitflyer, on the other hand, is the seventh, and Bithumb the fifth.

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  • Bank England not protect banks
    Bank of England to private bankers: You're on your own (Photo: Pixabay/Peter Roe)
    Cryptocurrencies,  Politics,  Regulation

    Bank of England: Not our job to protect private banks from central bank digital currencies

    Bank of England Deputy Governor Jon Cunliffe said that private banks will have to adapt to a new financial system on their own

    November 13, 2020 /

    Cunliffe explained that private banks will have to adapt to survive in the new financial system and pointed out that Bank of England’s “job is to ensure that if bank business models change, we manage the financial and macro-economic consequences of” the shift. Furthermore, he said that CBDC research should be prioritized to avoid the private sector deploying digital currencies before public institutions:

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