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New York Regulators Designate New Division to License Crypto Businesses

The New York Department of Financial Services — the state’s finance watchdog — has formed a new division for licensing crypto-related businesses. The New York Department of Financial Services (NYDFS), the state’s financial regulator, has established a new department that will be responsible for licensing and regulating crypto-related businesses. In a statement on July 23, the NYDFS announced the formation of the Research and Innovation Division which will “house the Department’s division responsible for licensing and supervising virtual currencies, and it will assess new efforts to use technology to address financial exclusion.” The NYDFS requires that businesses involved in the issuance and trade of digital assets receive a special type of registration called a BitLicense. The process purports to assure that crypto-related business observe certain standards regarding disclosure and consumer data protection, but is seen by some in the crypto space as restrictive to the industry. In a..

IBM’s Blockchain Division Largely Unscathed After Layoffs of 1,700: Report

Only a handful of the 1,700 layoffs recently announced by IBM affected its blockchain division, according to a report. Only a “very, very tiny percentage” of this month’s 1,700 job losses at IBM affected its blockchain division, The Block reported on June 20. Jerry Cuomo, the vice president of IBM Blockchain Technology, told the website that the tech giant is prioritizing blockchain skills when making hiring and firing decisions — adding it was “full steam ahead” for his department. The layoffs have been described as a “realignment plan.” The consulting arm of IBM’s blockchain business experienced some losses of redundant positions, but its engineering side reportedly escaped unscathed. A source told The Block: “The product team had no layoffs, there was nothing out of development. It was very limited on the blockchain side.” IBM currently has about 340,000 employees, meaning that it let go of roughly 0.5% of its workforce. As CNBC reported on June 7, this doesn’t mean a hiring freeze..

Binance to Open US-Based Division With FinCEN Approved Partner

Major cryptocurrency exchange Binance is establishing a United States-based division with a Financial Crimes Enforcement Network approved partner, BAM Trading Services. Major cryptocurrency exchange Binance is establishing a United States-based division with a Financial Crimes Enforcement Network (FinCEN) approved partner, according to a press release shared with Cointelegrpah on June 13. Binance is reportedly forming a new trading platform targeting U.S.-based clients dubbed Binance US, with a company called BAM Trading Services. BAM will be the operator of Binance US, using Binance’s wallet and matching engine products. Binance CEO Changpeng Zhao reportedly said, “We are excited to finally launch Binance US and bring the security, speed, and liquidity of to North America. Binance US will be led by our local partner BAM and will serve the U.S. market in full regulatory compliance.” A representative from BAM Trading Services stated, “it is an honor to partner with Binance,..

Exec Who Launched PwC Switzerland’s Blockchain Division to Become CFO at...

Roman Schnider, who launched PwC’s blockchain and crypto assurance division in Switzerland, is leaving the auditing firm after 15 years. The man who launched a blockchain and cryptocurrency assurance division for PwC in Switzerland is joining Tezos as chief financial officer, the foundation confirmed in a news release on June 11. Roman Schnider is leaving the Big Four firm after 15 years, and Tezos says he is already familiar with the organization, since it was the first major blockchain project to have its finance and business operations audited by PwC. Tezos describes itself as a platform focusing on smart contracts and decentralized applications that offers a protocol governed by stakeholders. Ryan Jesperson, the president of the Tezos Foundation, said: “As the foundation continues to provide resources to a growing Tezos ecosystem, the CFO and operations lead will be critical to our success. Roman’s experience makes him the ideal finance and operations specialist for our team. He i..

Fidelity Investments Seeks Talent for Its Digital Assets Division

U.S.-based holding company Fidelity Investments is seeking talent for its digital assets wing, Fidelity Digital Assets. American investment management company Fidelity Investments is seeking talent for its digital asset wing, Fidelity Digital Assets, according to the company’s job offer listing. Fidelity is looking for nine professionals in fields ranging from analytics and data engineering to blockchain solutions architecture and blockchain solutions engineering. The company is hiring a Vice President of Solutions Architecture (blockchain, cryptocurrency), and a Blockchain Software Engineer among other related titles. Some of the job offerings require expertise in the areas such as cryptography, cryptocurrencies, cyber security, and data science. As previously reported, Fidelity — which is reportedly planning to roll out bitcoin (BTC) trading for institutional clients in the coming weeks — made an array of hirings in recent months. Former executive of British investment bank Barclays..

EToro Blockchain Division Launches Crypto Exchange for Pro Traders, Issues 8...

The blockchain division of global social trading platform eToro launched a crypto exchange for pro traders. The blockchain division of global social trading platform eToro has launched a cryptocurrency exchange for pro traders, a press release shared with Cointelegraph on Tuesday, April 16, states. EToroX claims to be a secure a secure and fully regulated trading venue. As for now, the platform offers 37 trading pairs, with the ability to convert six cryptocurrencies to fiat, such as the dollar, euro and Swiss franc. The exchange currently allows users to trade bitcoin (BTC), ethereum (ETH), ripple (XRP), dash (DASH), bitcoin cash (BCH) and litecoin (LTC). According to the managing director of eToroX, Doron Rosenblum, the exchange will launch more pairs in coming months. Moreover, eToroX has launched eight stablecoins that are backed by the New Zealand dollar (NZDX), Japanese yen (JPYX), Swiss franc (CHFX), United States dollar (USDEX), euro (EURX), U.K. pound sterling (GBPX), Austral..

Bayer’s Agricultural Division Partners With ConsenSys-Backed Startup BlockApps

Bayer CropScience, an agricultural arm of Bayer pharma giant giant, has worked with ConsenSys-backed startup BlockApps since 2018. The agricultural division of pharmaceutical and life science giant Bayer AG, Bayer CropScience, is collaborating with ConsenSys-backed Blockchain-as-a-Service (BaaS) startup BlockApps. BlockApps revealed the news to Cointelegraph on March 22. Germany-based Bayer CropScience has been working on a number of blockchain initiatives with BlockApps since early 2018, a BlockApps spokesperson told Cointelegraph. One of the largest pharmaceutical firms globally, Bayer acquired American agrochemical and agricultural corporation Monsanto in June 2018. A BlockApps representative said that more details can be expected during Blockchain for Food and Beverage Supply Chain conference that is set to take place on March 26–27 in San Francisco. The BlockApps platform aims to provide an interoperable platform for programmable business networks. Founded in 2015, Blockapps ..
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