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Algorand Blockchain Network Now Certified for Sharia Compliant Financing

The Algorand Foundation announced that its blockchain network has now been certified as Sharia-compliant for the inclusion of Islamic financial markets.In a press release on Oct. 21, it was revealed that Algorand has achieved the certification under the supervision of the Shariya Review Bureau (SRB) who ensured the compliance with Sharia-critical aspects required of Islamic … Continue reading Algorand Blockchain Network Now Certified for Sharia Compliant Financing

China Looking into the Application of Blockchain and AI for Cross-Border Financing

China is researching the application of blockchain technology and artificial intelligence in cross-border financing, with a focus on risk management.   As reported by Reuters on Oct. 27, Lu Lei, the deputy head of the State Administration of Foreign Exchange (SAFE) in China, said that there are plans to use blockchain and AI for cross-border financing, after … Continue reading China Looking into the Application of Blockchain and AI for Cross-Border Financing

United States Financial Regulators Sign Onto the Global Financial Innovation Network

In a report released by the US Securities and Exchange Commission on 24th October 2019, four US financial watchdogs have joined the Global Financial Innovation Network (GFIN). These regulatory agencies include the Federal Deposit Insurance Corporation (FDIC), the Commodity Futures Trading Commission (CFTC), the Securities and Exchange Commission (SEC), and the Office of the Comptroller … Continue reading United States Financial Regulators Sign Onto the Global Financial Innovation Network

Blockchain May Jeopardize London’s Financial and Tax Collection Systems, Proclaims John Straw

John Straw, a senior advisor to IBM and McKinsey, has warned that blockchain could render the financial service sector in London irrelevant. He also noted that the city’s banks could be destroyed, making the collection of corporate and personal taxes cumbersome.  Straw’s notion is that the National Health Service (NHS) will be jeopardized because no tax … Continue reading Blockchain May Jeopardize London’s Financial and Tax Collection Systems, Proclaims John Straw

Chinese City Tests Blockchain-Powered Cross-Border Financial Platform

Nanning, a Southern Chinese City, located in Guangxi Region, has experimented with a blockchain-enabled cross-border financial platform. Notably, it joins several Chinese cities, such as Ningbo and Xiamen, seeking to revamp their economic systems using cross-border blockchain networks.  As reportedby the Global Times, Nanning’s blockchain service system seeks to refurbish the present trade financing procedure … Continue reading Chinese City Tests Blockchain-Powered Cross-Border Financial Platform

Blockchain Experts Discuss: Will Blockchain Be the Missing Piece to Financial Inclusion?

The Singapore Fintech Festival rounded up blockchain discussions on the last day of the festival, focusing on one of the main themes of the event, financial inclusion.  Discussions sparked in a panel joined by Changpeng Zhao (CZ), CEO of Binance, Weimin Guo, Chief Scientist of the Bank of China, and Vice-Chairman of the Chinese Internet Financial Working Committee, … Continue reading Blockchain Experts Discuss: Will Blockchain Be the Missing Piece to Financial Inclusion?

The Future of the Financial Sector Will Rely on Blockchain, Says Singapore’s Fintech Chief

Sopnendu Mohanty, the Chief Fintech Officer of the Monetary Authority of Singapore (MAS), spoke at a panel at Blockshow Asia 2019 held at the Marina Bay Sands Expo and Convention Centre last week. In his panel on the topic of, “all that fintech with a layer of blockchain,” he explains the MAS’ role for blockchain adoption in Singapore … Continue reading The Future of the Financial Sector Will Rely on Blockchain, Says Singapore’s Fintech Chief

Germany’s Federal Financial Regulator Warns Investors Over Bulgarian Crypto Broker

Bulgarian crypto broker, 5 Capital, has been offeringfinancial services to investors without being approved by the Germany financial watchdog, the Federal Financial Supervisory Authority (BaFin). This is against the regulations that guide crypto firms in Germany, as every crypto firm is expected to apply from and obtain an authorized license from BaFin before entering into … Continue reading Germany’s Federal Financial Regulator Warns Investors Over Bulgarian Crypto Broker

Fidelity’s Crypto Arm Given the Green Light by the New York State Department of Financial Services

Fidelity Digital Assets Service (FDAS), the cryptocurrency arm of Fidelity Investments has been granted a license by the New York State Department of Financial Services (NYDFS), allowing the company to offer cryptocurrency trading and custody services.  According to the press release on Nov. 19, the NYDFS authorized FDAS to act as a limited liability trust … Continue reading Fidelity’s Crypto Arm Given the Green Light by the New York State Department of Financial Services

Financial Conduct Authority, the Pacemaker of the UK FinTech Revolution

Established on Apr. 1 2013, the Financial Conduct Authority (FCA) regulates the conduct for 59,000 financial services firms and financial markets in the UK. Given that the UK financial service sector employs over 2.2 million people and contributes GBP 65.6 billion taxations in the UK economy, the FCA strives to ensure a fair, regulated payment … Continue reading Financial Conduct Authority, the Pacemaker of the UK FinTech Revolution

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