Not ‘Viable’? Berkeley Professor Takes Dim View of Stablecoins in New Critique

A University of Berkeley professor has claimed stablecoins are a “myth” in a new critique published Tuesday, September 11. Taking the emerging market sector, which includes well-known assets such as Tether (USDT), to task, Professor of Economics Barry Eichengreen argues that stablecoins are not automatically “viable” just because they are pegged to reserves of, for…

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Uber’s Largest Shareholder to Launch Cross-Carrier Mobile Payments Service Based on Blockchain and RCS

Japanese tech giant SoftBank is developing a blockchain-powered cross-carrier mobile payments service, the company reported in an official press release published September 12. SoftBank’s new proof-of-concept (PoC) development was announced in partnership with telecoms-focused blockchain firm TBCASoft and Synchronoss Technologies, provider of cloud, messaging, digital, and Internet of Things (IoT) services and platforms. The upcoming…

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FINRA Charges Broker With Fraud for Trading Unregistered Cryptocurrency

The U.S. Financial Industry Regulatory Authority (FINRA) has filed a complaint against Timothy Tilton Ayre, charging him with securities fraud and the illegal distribution of an unregistered cryptocurrency, according to a statement released on FINRA’s website Tuesday, September 11. In the complaint, FINRA, overseen by the U.S. Securities and Exchange Commission (SEC), states that Massachusetts-based…

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Malta Stock Exchange Signs MOU with Binance to Launch Security Tokens Trading Platform

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The Malta Stock Exchange’s fintech and digital asset subsidiary, MSX PLC, has signed a Memorandum of Understanding (MOU) with crypto exchange Binance to jointly launch a new security token digital exchange, according to a press release shared with Cointelegraph September 11. The press release pitches the forthcoming trading platform as being poised to benefit from…

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In an Apparent First, U.S. SEC Penalizes Crypto Hedge Fund

The U.S. Securities and Exchange Commission (SEC) has issued a cease and desist order and a $200,000 fine to Crypto Asset Management (CAM) and its founder Timothy Enneking, according to a document published on the commission’s website Tuesday, September 11. According to CNBC, this is the first SEC disciplinary action against a digital asset management…

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Crypto Industry Leaders Establish Washington-Based Lobby Group

A group of U.S.-based blockchain and crypto companies have announced they will form the Blockchain Association, the “first” lobbying group representing the blockchain industry in Washington D.C., the Washington Post reported September 11. The Blockchain Association is comprised of industry leaders such as crypto exchange Coinbase, technology startup Protocol Labs, as well as the Digital…

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Unconfirmed: UAE Preparing to Adopt Formal ICO, Fintech Regulations, Local Media Report

The United Arab Emirates (UAE) has approved a draft of regulations governing Initial Coin Offerings (ICO), local media outlet WAM reported Sunday, September 9 citing government sources. The reported move comes in addition to lawmakers in the country adopting plans for a regulatory sandbox aimed at attracting greater fintech activity. “The sandbox will act as…

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The Crypto IPO Race Is On: From Mining Companies to Exchanges

Last week, at least two crypto-related enterprises, a Silicon Valley stock and cryptocurrency trading platform Robinhood and Singapore-based crypto exchange Huobi, moved closer to going public by holding an initial public offering (IPO). The ‘old school’ way to collect investments might seem especially attractive in the context of mass adoption trends and a declining ICO…

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Nasdaq Exploring Adding Crypto Data Sets to its Analytics Tool, Sources Say

New York-headquartered stock market giant Nasdaq is exploring adding crypto datasets to its market analytics tool, a Nasdaq source told Cointelegraph September 11. Speaking to Cointelegraph, Nasdaq’s Head of Alternative Data Bill Dague said that “given [an] abundance of interest, we are exploring cryptocurrency related datasets. Whether or not we launch a crypto-related product remains…

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China: WeChat Blocks Bitmain Sales Account as Well as Further Crypto ‘Hype News’ Channels

WeChat, the 1 billion-user Chinese social media platform developed by Tencent, has blocked the official sales channel of Bitcoin (BTC) mining giant Bitmain, according to an announcement posted to its channel yesterday, September 10. As of press time, Bitmain’s other Wechat accounts, including after-sales services and its official account, remain active. The official sales channel,…

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Cryptic Labs Adds Nobel Prize Laureate Economists to Board to Boost Blockchain Education

Blockchain-focused research lab Cryptic Labs has appointed two Nobel Prize economics laureates to its board in order to expand its blockchain expertise, the company announced in a press release Monday, September 10. Cryptic Labs, which says its mission is “solving fundamental security problems to advance the growth of blockchain technology,” appointed Dr. Eric S. Maskin…

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