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Kathleen Murphy, personal investing president of Fidelity Investments, says that the firm does not offer cryptocurrencies on retail trading platforms to protect its clients. Kathleen Murphy, personal investing president of American financial services company Fidelity Investments, has said that the firm does not offer cryptocurrencies on retail trading platforms to protect its clients. Murphy voiced this sentiment during an interview with CNBC published on Oct. 11. After the interviewer asked when she expects users to trade cryptocurrency “in a meaningful way” on Fidelity’s platform, Murphy replied: “You know, we’re really careful about that. So while we embrace crypto in terms of trying to understand it and be innovative and thoughtful… We’re also very careful about where we offer those types of things, so they’re not offered broadly on the retail platform. We want to be very careful about making sure that investors who really aren’t institutional investors [...] don't make a mis..
The U.S. House Financial Services Committee invites Facebook COO Sheryl Sandberg to testify on the condition that CEO Mark Zuckerberg follows suit by January. The United States House Financial Services Committee has reportedly invited Facebook COO Sheryl Sandberg to testify on Oct. 29 about the company’s plans for its Libra stablecoin. According to a report from The Information on Oct. 3, the invitation comes with a key condition: that CEO Mark Zuckerberg consent to appear before the committee before January 2020. Sandberg would follow David Marcus’s testimonyThe Committee, chaired by Rep. Maxine Waters, has recently announced its plans to prioritize scrutiny of Facebook’s proposal for Libra and corresponding digital wallet Calibra as part of its fall 2019 agenda. According to The Information’s sources, Sandberg will be questioned about Libra as well as about Facebook’s advertising policies. The social media titan reached a $5 million settlement with civil rights groups this March ov..
Senior members of the House Financial Services Committee asked the Federal Reserve whether there are plans for launching a U.S. dollar digital currency. Members of the United States House of Representatives Financial Services Committee asked the Federal Reserve whether there are any plans of launching a U.S. dollar digital currency. Fed has the mandate to develop a national digital currencyIn a Sept. 30 letter to Federal Reserve Board Chairman Jerome Powell, U.S. Representatives French Hill and Bill Foster expressed concerns that the importance of the U.S. dollar could be in jeopardy “from wide adoption of digital fiat currencies.” They stated: “Internationally, the Bank for International Settlements conducted a study that found that over 40 countries around the world have currently developed or are looking into developing a digital currency.” The lawmakers stated that, due to the potential of digital currencies to take on the characteristics and utility of paper money, it may be incr..
Luxembourg’s financial regulator has warned the public that a cryptocurrency-related firm has no license to operate in the country, despite its claims. Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), says that a seemingly crypto-related entity called Cryptominingoptionsignal claims to be licensed in Luxembourg, but is not. In a warning notice dated Aug. 13, the country’s watchdog simply wrote: “The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the activities of an entity named Cryptominingoptionsignal [...] The CSSF informs the public that Cryptominingoptionsignal is unknown to it and that the entity has not been granted any authorisation to provide investment services or other financial services in or from Luxembourg.” Innovation in LuxembourgAs previously reported by Cointelegraph, Luxembourg-based securitization firm Argento partnered with the London Block Exchange to jointly issue a Bitcoin (BTC)-denominat..
Most of corporate America is silent about blockchain, but there is evidence from companies' SEC-required 10-K reports that shows some companies’ attitudes. How seriously are American corporations committed to blockchain technologies? Are blockchain technologies materially significant yet? One place to find the answers to these questions is Form 10-K, a report the United States Securities and Exchange Commission (SEC) requires corporations to file annually. Some of the information a company is required to disclose in the 10-K includes details on the nature of its business, risk factors, financial data, organizational structure, subsidiaries, and management’s discussion and analysis about the financial and operational results. Because it is regulated by the SEC, audited by an independent auditor and scrutinized by market participants — such as analysts and institutional investors — the 10-K is considered a credible report and source of information on the operations and financial pe..
Zambia’s SEC has warned the public about investing in Onyxcoin and reminds them that ICOs are risky. The Zambia SEC’s CEO, Philip Chitalu, has warned the public that cryptocurrency OnyxCoin creator Kwakoo is not licensed to give investment advice or solicit funds, from within and outside the country alike. The Lusaka Times relayed the SEC head’s warnings in a report on Aug. 2. According to the report, Kwakoo has been promoting Onyxcoin and soliciting investments from the Zambian public. Relatedly, CEO Chitalu notes that Securities Act, No. 41 of 2016 dictates that certain activities — such as Kwakoo’s — require proper licensure in Zambia, unless specifically exempted by law. Moreover, Chitalu noted that the SEC is under the impression that Onyxcoin promoters are claiming that the cryptocurrency will increase by over 1,000% by June 2021. Chitalu also commented on initial coin offerings (ICOs) more generally, saying that such offerings are not standardized. According to Chitalu, the le..
Zambia’s SEC has warned the public about investing in Onyxcoin and reminds them that ICOs are risky The Zambia SEC’s CEO, Philip Chitalu, has warned the public that cryptocurrency OnyxCoin creator Kwakoo is not licensed to give investment advice or solicit funds, from within and outside the country alike. The Lusaka Times relayed the SEC head’s warnings in a report on Aug. 2. According to the report, Kwakoo has been promoting Onyxcoin and soliciting investments from the Zambian public. Relatedly, CEO Chitalu notes that Securities Act, No. 41 of 2016 dictates that certain activities — such as Kwakoo’s — require proper licensure in Zambia, unless specifically exempted by law. Moreover, Chitalu noted that the SEC is under the impression that Onyxcoin promoters are claiming that the cryptocurrency will increase by over 1,000% by June 2021. Chitalu also commented on initial coin offerings (ICOs) more generally, saying that such offerings are not standardized. According to Chitalu, the leg..
Ripple has sold 900 million XRP which is about $251 million in this quarter of the year. In the second quarter of the year, Ripple saw a large increase of an average daily volume of $429.51 million, as against the $156.01 million in the first quarter of the year. Ripple, due to its specific use case – global value transfer – has shown remarkable resilience in the crypto market, according to todaysgazette.com. Ripple News Today – Is This The Right Time for XRP to Dominate the Crypto Market? – Ripple Price Predictions – Ripple Latest Update Although this seems like an acceptance of the Ripple token by everyone, a few factors may be considered before ascertain the time is right for the cryptocurrency. 1.The rise of other competitors in the crypto market As of now, there are other value transfer blockchain developers with an active product in the crypto community, not just Ripple. For instance, the JPM coin is supported by a southeast Asian firm, Mizuho Bank and has formed a partnership ..
Bitcoin News Today – According to Cointelegraph in Bitcoin price analysis, the coin dropped by another 8% on Saturday. Skeptics believe the hope for a new all-time high for the coin is no longer feasible. Regardless of these events, market analysts remain Bullish over the price of Bitcoin amidst a 33% price correction. What hope is there for Bitcoin? Are the bulls finally out of the game? Bitcoin News Today – Bitcoin Price Prediction 2019 – Bitcoin Price Analysis – Bitcoin Slides Downward By 33% Unless you are a Bear, you may not have been satisfied with Bitcoin’s recent performance in the crypto market. The number one crypto is currently down by 32% from a 2019 high of $13,739 and the short term price performance of the coin has stayed extremely bearish, according to Cointelegraph. Over the past two weeks, the coin formed an M-top at $13,739 and $13,177; dropping to the neckline at around $9,600. Majority of traders in the crypto market are upbeat about Bitcoin retracing to the 61.8%..