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Germany joined the chorus of countries offering stiff resistance to Libra, Facebook’s new digital coin. German Finance Minister, Olaf Scholz, expressed concerns about the coin’s consumer privacy issues and potential for disruption. Reuter’s released a report which quoted him saying, “The issuance of a currency does not belong in the hands of a private company […]
The post Germany’s Finance Chief Joins Slew of Financial Leaders Scoffing at Libra appeared first on CCN Markets
The UK is studying the properties of Libra in-depth to prevent the digital currency from damaging the economy. This is what Philip Hammond, Chancellor of the Exchequer of the United Kingdom, said in a recent interview with CNBC’s Squawk Box. Hammond explained that regulators must fully understand how Libra works to counter the risks associated […]
The post UK Finance Chief Ready to Engage with ‘Potentially Transformative’ Libra appeared first on CCN Markets
Facebook’s digital currency plans have caused concern among bureaucrats worldwide and members of the U.S. government seem fearful of a giant tech establishing itself as a financial institution. Prior to the U.S. congressional hearings and the upcoming G7 finance meeting, a U.S. discussion draft bill, the Keep Big Tech Out of Finance Act, hopes to stop large tech corporations from “maintaining, or operating a digital asset.”
Also read: How 10 Countries Respond to Facebook’s Libra Cryptocurrency
Jeremy Siegel, a normally astute finance professor from the University of Pennsylvania, told CNBC that he thinks the stock market has another 5 percent to 6 percent upside to reach fair value. He’s out of his mind. “I think fair market value does give us another 5%, 6% this year, but we may go up […]
The post Finance Professor Says Stock Market Is Cheap. Here’s Why He’s Wrong appeared first on CCN Markets
By CCN Markets: Facebook’s unveiling of Libra, its cryptocurrency project coming in 2020, has caught the attention of many, including the French Finance Minister. Bruno Le Maire, speaking on French Radio, has said that this new cryptocurrency cannot operate as a sovereign currency. Facebook’s Libra project intends to introduce a digital currency for usage on its platforms. However, this is raising several economic issues. Concerns on its regulation, and the status of this currency, are up for debate with Le Maire giving some stern warnings. Stern Libra warning With its reach of over 2.3 billion users, Facebook’s cryptocurrency could well call
Blackstone-owned IT firm Mphasis has partnered with blockchain tech firm Bitfury to automate and tokenize trade finance processes.
CoinDesk
Charles Hoskinson, the co-creator of both Cardano (ADA) and Ethereum (ETH), had a humbling Friday in New York City. The journeyman traveler, who commonly documents his trips around the world on social media, was all set to go live for an interview with Yahoo Finance, as part of a larger NYC media tour. However, Hoskinson […]
SludgeFeed
The post IHS Markit report: finance industry blockchain sector to hit $ 462 billion by 2030 appeared first on CoinReport.
By CCN.com: Kevin Dowd is a Professor of Finance and Economics in the Business School at Durham University, Northeast England, and the co-author of the 2015 paper “Bitcoin Will Bite the Dust,” along with market analyst and author, Martin Hutchinson, for the libertarian Cato Institute in Washington DC. CoinDesk published an op-ed by Dowd Monday,
The post The Finance Prof. Who Says Bitcoin’s Going to ‘Bite The Dust’ Is Wrong appeared first on CCN
Thailand’s Ministry of Finance has granted digital asset business licenses to four crypto firms, while rejecting two others.
CoinDesk
Two top European finance regulators, the EBA and the ESMA, have separately said today that cryptocurrency and ICO rules are needed at the EU level.
CoinDesk
Completing a project to build 3 million homes for its suffering population is the next big initiative Venezuela wants to finance with its digital currency, the petro. The socialist government in Caracas says there is enough money and materials to fulfill the main objective of the “Great Housing Mission.”
Also read: Crypto-Friendly Statesman Takes Over Swiss Presidency
The Venezuelan Ministry of Housing is now joining forces with other government institutions to revive a state-sponsored program focused on the building of new apartment blocks for the masses. The leftist administration of President Maduro hopes to boost Gran Misión Vivienda Venezuela (GMVV) using the oil-backed national cryptocurrency, the petro.
The China Banking Association, the country’s self-regulatory organization for the banking sector, has launched a new blockchain-based platform for trade finance.
CoinDesk
While the US stock market continues to struggle as a result of various institutional and political forces, Jeremy Siegel, professor of Finance at the University of Pennsylvania’s Wharton School of Business, remains optimistic about the state of the market in 2019. Speaking in an interview on CNBC’s Squawk on the Street, Siegel predicted that equity
The post Stock Market Will Have ‘Good Year’ in 2019: Wharton Finance Prof. appeared first on CCN
Hopeful about the recent surge in bitcoin price? Expectant about the entrance of Bakkt and the possibility of 2019 being the year of (real) institutional investment? Then don’t read this article. According to these experts, economists, finance professors, miners, and developers, Bitcoin is on its way out – and will soon be as redundant as
The post No Investment Strategies Are Worse Than Cryptocurrencies – Professor of Finance appeared first on CCN
Gong-pil Choi, the director of the Korea Institute of Finance, said that custody in crypto is crucial in eliminating hacking fears and facilitating the growth of the market. The Korea Institute of Finance, an agency that works with the government to research and evaluate financial policies to bolster the country’s financial sector, has emphasized that
The post Korea Institute of Finance Director: Crypto Custody is Key in Rapid Growth appeared first on CCN
Earlier this year, with the bitcoin price trading around $ 7,000, Santa Clara University Professor of Finance Atulya Sarin published an opinion piece arguing that the rising cost of crypto mining, coupled with the ability for bearish investors to short bitcoin in the futures markets, could spell doom for the flagship cryptocurrency. Now, following a further
The post ‘Worthless’ Bitcoin Has Entered Death Spiral: Finance Professor appeared first on CCN
A Pakistani-American woman who bought bitcoin and other cryptocurrencies using fraudulently obtained credit cards before wiring the funds to ISIS has pled guilty to charges of offering financial support to a terrorist organization. According to court filings, Zoobia Shahnaz made a couple of wire transactions last year to fronts for the Islamic terror outfit ISIS
The post ISIS Recruit who Used Bitcoin to Finance Terror Group Could get 20 Years in Jail appeared first on CCN
Malaysian Finance Minister Lim Guan Eng has revealed that a new set of comprehensive regulations guiding the activities of crypto exchanges and ICOs will come into effect in Q1 2019. Speaking in Kuala Lumpur on Wednesday at the FinTech Conference 2018 organised by Malaysia’s Securities Commission, he revealed that the new regulations are part of
The post Malaysia’s Finance Minister: Crypto Regulation to be Enforced in Q1 2019 appeared first on CCN
Blockchain will be just way superior to traditional business models in just about every industry sector.
Ok, I say ‘will be’ because blockchain and cryptocurrency are still in their infancy and there is a little way to go before businesses start leaping onto the blockchain wholesale.
It has taken time for blockchain startups to get financed (ICOs) and to build their tech. Also, no one is sure just how regulation will play out so big Wall Street investment is still on the sidelines looking in.
One thing is for sure though, replacement of existing business models with blockchain will happen sooner rather than later.
