For many FinTechs, particularly those operating in cutting-edge spaces like blockchain and cryptocurrency, regulation has often been seen as a dirty word; something that can only shackle innovation. But lack of regulation in the blockchain and crypto space has often served as a greater restriction than most actual laws can be, creating an air of uncertainty for companies … [Read more...] about Crypto’s Regulatory Imperative
Cryptofinance
Banking on FinTech
U.S. banks made more than 65 strategic bets in FinTech in 2020. Capital markets investments led the way. “Despite the economic uncertainty surrounding the Covid-19 pandemic, U.S. banks are future-proofing by actively investing in FinTech,” research firm CBInsights concludes in a report released last week. Deals in the capital markets category more than doubled those in the … [Read more...] about Banking on FinTech
National Currencies Go Digital
You may be forgiven if you think that Central Bank Digital Currencies are the boring cousin of bitcoin. Yet CBDCs made more news this week than the ups and downs of king of crypto—and perhaps because of them. Bitcoin was designed to address “the risk that fiat currency is debased in the future by excessive supply”—printing money—and “the clunky nature of the modern payments … [Read more...] about National Currencies Go Digital
New Charter Law Could Make Illinois a Crypto Leader
Illinois FinTechs may soon have a new opportunity to provide safekeeping of digital assets such as cryptocurrencies, in a move that would make the state only the second in the nation to offer this authority to applying companies. A new charter for these “special purpose trust” companies got one step closer to passage through the state legislature Tuesday, with the Illinois … [Read more...] about New Charter Law Could Make Illinois a Crypto Leader
Digital Asset Legitimation Announcements Continue
Three facts led to the selection of this week's FinTech theme: 1 Bitcoin prices hovered near $60,000 this week, up from a $50,000 mark only a few weeks ago. 2 Hester Peirce, who won the moniker "crypto mom" for her support of pragmatic regulation of cryptocurrencies, will continue as a Securities and Exchange Commissioner for another five years. 3 Several of the … [Read more...] about Digital Asset Legitimation Announcements Continue
The Changing Face of Bitcoin
Note: On Tuesday morning 2/16, Bloomberg reports that bitcoin reached a new record price, breaking $50,000, as institutional investors continue to buy in. Bitcoin continues to capture headlines, as summarized by CoinDesk. As its price gains continued on news that Elon Musk purchased $1.5 billion worth of the cryptoasset for Tesla, several mainstream financial organizations … [Read more...] about The Changing Face of Bitcoin