Month: October 2020

China Drafts Law to Legalize Digital Yuan, Outlawing Competitors

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China’s central bank, the People’s Bank of China (PBOC), has drafted a law to legalize the digital yuan and outlaw digital currencies issued by anyone else competing with it. Meanwhile, the central bank has been cracking down on gambling sites that use the stablecoin tether. China Drafts Law to Recognize Digital Yuan The People’s Bank … Read more

Paypal’s Crypto Embrace: Morgan Stanley Says Move Boon for Mass Adoption, Critics Say Payment Giant Violates Crypto Principles

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The entry of Paypal into the cryptocurrency industry continues to expose the divide between traditional crypto space players who are less enthusiastic and non-crypto players who endorse the move. Non-crypto players like the analysts at Morgan Stanely are agreement with the notion that the payments giant’s move will lead to greater adoption cryptocurrencies. Nevertheless, the … Read more

Voyager Digital Buys European Crypto Exchange Focused on Institutional Investors

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Crypto-asset broker Voyager Digital Ltd is buying LGO Markets, a French cryptocurrency exchange focused on corporate investors. The two firms will merge under one brand, Voyager, and their two separate native tokens, VGX and LGO, will also merge. The deal grants Voyager, a Canadian Securities Exchange-listed (CSE) firm, access to the European retail market through … Read more

Prepping for Next Year’s Travel Rule: 25 US Crypto Service Providers Publish Compliance Solutions Paper

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A great number of cryptocurrency businesses are preparing for the upcoming Financial Action Task Force (FATF) rules toward cryptocurrencies, specifically the Travel Rule. This month 25 Virtual Asset Service Providers (VASPs) published a paper that outlines how American-based VASPs aim to comply with the FATF Travel Rule. Digital currency companies, otherwise known as Virtual Asset … Read more