FINRA Fines Morgan Stanley $5 Million for Sub-Standard Anti Money Laundering Practices

U.S. Federal Court Defines Cryptocurrencies as Commodities

The American financial industry regulatory authority, FINRA, has fined wall Street bank Morgan Stanley for violating anti-money laundering (AML) rules over a period of five years, reported Finance Magnates on December 26, 2018. Fraud in the Traditional Space FINRA stated the financial giant failed to adhere to three requirements of the Bank Secrecy Act of 1970, which stipulates all U.S.-based…Read More. The post by Shaurya Malwa appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

Australian Crypto Firm Faces Heat for Manipulating Social Media Accounts, Denies Allegations

Marionette Surrounded by Crypto Tokens

It seems like cryptocurrency firms are not shying away from controversies anytime soon. Sydney-based Power Ledger faced fire last week after investors and industry experts called out the firm’s dubious social media practices, reported Financial Review on December 26, 2018. Social Media and Crypto-Marketing Power Ledger is a peer-to-peer energy trading platform that raised $13.2 million in an ICO for…Read More. The post by Shaurya Malwa appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

Ant Financial Seeks to Move into European Market with WorldFirst Take Over

Ant Financial Character Looking into an Open Briefcase

Chinese payments giant Ant Financial, a wholly-owned subsidiary of Alibaba Group, is in advanced discussions with European payments application WorldFirst in a takeover deal worth $700 million, reported Finance Magnates on December 26, 2018. Ant Eyes Europe Founded in 2014, WorldFirst is an international payments specialist and currency exchanger aimed at helping individuals and businesses manage their cross-border transactions and…Read More. The post by Shaurya Malwa appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

Hong Kong: BitMEX and Wine Retailer May Purchase Stake in Japanese Cryptocurrency Exchange

Man Holding Glass of Wine Staring at BitOcean Price Charts

Madison Holdings Group, a Hong Kong Exchange (HKEX)-listed French wine trading company, is planning to acquire a stake in Japanese cryptocurrency exchange BitOcean in partnership with crypto-derivative trading platform BitMEX, reported South China Morning Post on December 26, 2018. Moving into Crypto Listed on the GEM board of HKEX, Madison Holdings is seeking a 67.2 percent stake in BitOcean from…Read More. The post by Shaurya Malwa appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

Research: Blockchain Technology to Create Disruption in Global Automotive Sector by 2021

Hood of a Car Opened to Blockchains

Blockchain technology is primed to take over the automotive industry in the next three years. if senior executives in the sector are to be believed, reported Times of India on December 24, 2018. Blockchain to Augment Business Processes In a joint study conducted by the IBM Institute for Business Value and Oxford Economics, researchers concluded 64 percent of surveyed executives…Read More. The post by Shaurya Malwa appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

Comcast to Introduce a Blockchain-Based Solution for Increasing Data Privacy

Person Turning on Blockgraph Television

Telecommunications giant Comcast will integrate blockchain technology to better match audience-generated data with thousands of advertising partners, reported Adweek on December 22, 2018. Peer-to-Peer Media Blockchain The Philadelphia-based company is partnering with mass media player Viacom, and advertising solutions provider Spectrum Reach to develop an enterprise-grade private blockchain network. The offering will focus on providing targeted ads to viewers while…Read More. The post by Shaurya Malwa appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

Crypto Rout Extends to Institutional Investors as Bitcoin Plans Put on Hold

Bull Dreaming of Bitcoin

Institutional investors and developers in the Bitcoin space are increasingly looking to the exit after 2017’s crypto-mania is coming to a halt in terms of price. Once lauded to usher in the next wave of crypto products, financial heavyweights are stalling efforts to build infrastructure around the pioneer cryptocurrency, reported Bloomberg on December 23, 2018. Bitcoin’s Down Ride In early-2018,…Read More. The post by Shaurya Malwa appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

Congress Members Seek to Exclude Cryptocurrencies from the Definition of a Security

cryptocurrencies sheet with a securities black book

Regulatory clarity on the legal status of cryptocurrencies may arrive sooner than expected after two members of the U.S. Congress proposed a bill to exempt digital tokens from the definition of traditional securities, reported CNBC on December 20, 2018. Crypto not a Security The proposed bill excludes digital currencies from the decades-old definition of a security; which applies to a…Read More. The post by Shaurya Malwa appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

Cryptocurrency Startup Seeking SEC-Approval for Tokens Raises $12 Million in Seed Funding

U.S. House Committees Begin Discussing Cryptocurrencies with SEC

Cryptocurrency project Prometheum raised $12 million in seed funding this week before the company gears up to offer a Securities and Exchange Commission (SEC)-approved security token to investors in early-2019, reported American Banker on December 21, 2018. Seeking Regulatory Approval Unlike most ICO projects reeling under the clutches of the SEC’s crackdown on tokens classified as securities, Prometheum’s Chief Executive…Read More. The post by Shaurya Malwa appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

Facebook May Launch a Stablecoin to Target India’s $69 Billion Remittance Market

Person Wearing Facebook Sweater Working with a WhatsApp Token

Cryptocurrency’s first killer application may be well on its way from the rosters of Facebook, a company ironically known for practices contrary to the ethos of decentralized currencies and blockchains, reported South China Morning Post on December 21, 2018. Facebook’s Crypto Deal The San Francisco-headquartered social media giant is leveraging India’s mammoth $69 billion remittance market, which also forms the…Read More. The post by Shaurya Malwa appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News