• Europe's fiat money (via Pixabay).
    Europe

    EU banks must get speed up blockchain investment, warn Lagarde, Bain

    The consulting giant and likely European Central Bank president say blockchain FinTech is coming fast

    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.

  • Bank of England Governor Mark Carney, Canada's most important export after William Shattner (via Wiki commons).
    Europe,  Libra

    England’s central banker touts digital currencies over U.S. dollar

    Even Facebook’s Libra might be a good way to end America’s ‘domineering influence’ as the provider of the world’s reserve currency, said Mark Carney

    The governor of the Bank of England just touted digital currencies as a possible replacement for the U.S. dollar as the world’s reserve currency. Such a digital asset, whether backed by central banks or even Facebook’s Libra stablecoin, would “dampen the domineering influence of the US dollar on global trade,” Mark Carney said in a speech on August 23 to the 2019 Economic Policy Symposium in Jackson Hole, Wyo.

  • This is not really the flag of the European Union (via Pixabay).
    Europe

    EU study: blockchain can help meet data privacy rules

    While big hurdles remain, blockchains can likely be designed to meet and even support GDPR privacy requirements

    A new report by the European Parliamentary Research Service takes issue with the idea that blockchains are incompatible with the EU’s new data privacy laws.

  • money laundering
    Cryptocurrencies,  Europe,  United States

    US sues BTC-e exchange owner Alexander Vinnik for $100 million

    The FinCEN lawsuit comes in addition to criminal charges alleging money laundering for drugs and cryptocurrency exchange hackers

    Alleging violations of the Bank Secrecy Act, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) filed a civil suit against BTC-e founder Alexander Vinnik on July 25, seeking to recover more than $88 million in customer funds from the exchange and $12 million in from Vinnik personally.