Failing banking safeguards Prepare to be disappointed Some of the largest banks in the world, including s JPMorgan Chase, HSBC, and Deutsche Bank, allowed criminals to launder almost $2 trillion (£1.5tn) of ill-gotten money from 1999 to 2017, according to the leaked FinCEN files that were obtained by BuzzFeed News. The Read more…
The Bank of Japan has announced it will begin experimenting with a central bank digital currency (CBDC) to check its feasibility from a technical perspective. BoJ wants to digitize cash but it remains to be seen if Japan can catch up with China which has already begun testing its own Read more…
Argentina’s Financial Information Unit has ordered stricter monitoring of Bitcoin trading and other crypto transactions. Banks, credit card companies, exchanges, and other institutions have been asked to be on high alert and report “suspicious” activity. The move comes as the government battles the flight of devalued pesos from its economy, Read more…
Uprooting tribalism The decentralization of everything Venture capitalist Tim Draper says that Bitcoin, a frictionless and transparent cryptocurrency, has the potential to change the nature of banking during his appearance on AIShowBiz. He explains that the leading coin eliminates the need to pay exuberant fees ‘every time you swipe a credit card.’ Read more…
