Swiss Regulator Imposes 800% Risk Weighting for Bank Crypto Trading

Twitter Facebook LinkedIn The Swiss Financial Market Supervisory Authority (FINMA) has instructed banks dealing in cryptoassets to apply a risk weighting of eight times their market value  when calculating loss-absorbing capital buffers. In a confidential letter seen by swissinfo.ch, the regulator also imposed a 4 percent cap on crypto positions as a percentage of total capital …

An Interview with the CEO of Digitex

Twitter Facebook LinkedIn We talk about innovative Blockchain application with the CEO, Adam Todd of Digitex Exchange which promises commission-free trading. Since commission fees are set arbitrarily by most exchanges, including the big ones, we wanted to delve deeper into how this project promises what others had thought to be unsustainable. CCN: Let’s start with …

Second-Largest US Bank Wins Patent for Crypto Storage System

Twitter Facebook LinkedIn Recent times have seen banks hedging their bets or even fully integrating cryptocurrencies. The acquisition and filing of patents is how large organizations truly express their interest in a given field, and Bank of America continues to lead the way, now having secured its latest patent in the blockchain and crypto space, …

Bulgarian Officials Caught Selling Passports for Bitcoin

Twitter Facebook LinkedIn Authorities in Bulgaria have clamped down on the shady sale of international passports to foreigners from some parts of Eastern Europe in exchange for bitcoin. Erring citizens of Bulgaria, Ukraine, Moldova, and Macedonia have been allegedly involved in the perpetration of such illegal activities. Officials Arrested The citizenship issuance which was authorized …

Goldman Sachs Embezzlement Scandal Shows Value of Crypto

Twitter Facebook LinkedIn According to a report in the New York Times, Goldman Sachs bankers have been successfully brought to heel regarding their part in a massive multi-billion dollar embezzlement scheme in league with former Malaysian PM Najib Razak, who used proceeds from the scandal to purchase luxury items and fund an extravagant lifestyle. There’s …

Thugs Threaten Amsterdam Businesses with Explosives

Twitter Facebook LinkedIn Business owners in Amsterdam are living in fear of criminals who are threatening to cause acts of terror unless they are paid an extortion fee in bitcoin. According to a Netherlands publication NLTimes, emails have been sent to multiple businesses in Amsterdam demanding bitcoins worth 50,000 euros. Failure to pay, the emails …

More Details Emerge on Oyster Protocol Exit Scam

Twitter Facebook LinkedIn Oyster Protocol issued $90,000,000 worth of PRL (pearl) near the end of last year. The crypto product is designed to enable website owners to earn money by participating in the storage and securing of files within the IOTA Tangle rather than advertising. Users contribute computing resources to the website instead of viewing …

‘Big Four’ Firm EY Builds DLT Product on Public Ethereum Blockchain

Twitter Facebook The big four accounting firms are pouring more resources into blockchain technology now more than ever, and now Ernst & Young (EY) has just deepened its commitment. The global professional services firm has unveiled a Public Edition (PE) prototype of its EY Ops Chain, using the public Ethereum blockchain to deliver what the …