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US Military's DARPA Program Hops on the 'Blockchain Not Bitcoin' Bandwagon

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The Defense Advanced Research Projects Agency (DARPA) is seeking to get a better understanding of permissionless blockchains, but Bitcoin does not appear to be invited to the party. To achieve this enhanced insight into blockchain technology, the US Department of Defense agency has sent out a request for information (RFI) on permissionless distributed consensus protocols, specifically touching on...

A Case of Brain-Drain? Indian Investors Set Up Multi-Million Dollar Cryptocurrency Fund in USA

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Despite India’s strict stand on cryptocurrencies, native entrepreneurs and blockchain enthusiasts are stopping at nothing to play their part in the burgeoning sector. [Editor's note (10:45 AM): The headline has been updated to remove an erroneous previous estimate of the fund.  ] India's Loss is USA's Gain While some cryptocurrency businesses are shifting base or launching litigations against the...

Las Vegas LocalBitcoins Trader Accused of Money Laundering

CEO of Bitcoin, Inc., Morgan Rockcoons was arrested by officials from U.S. Immigration and Customs Enforcement (ICE) at his home in Las Vegas, Nevada. He was charged with operating an unlicensed money transmitting business and money laundering according to the court records. According to those records, in December 2017 Rockoons allegedly exchanged 10 Bitcoins (Worth $9,000) at that time for...

Australia is a Friendlier Place for Fintech Firms, Starting Today

Global competition over Fintech companies, one of the fastest growing industry in the world with billions invested yearly, intensified today with Australia announcing they are largely throwing out the rulebook for the first 12 months. Scott Morrison, Treasurer of Australia, stated: “From today, all eligible businesses will be able to test a range of financial or credit services with up to 100...

London’s Fintech Further Expands Global Reach with Hong Kong Tie-Up

UK’s Financial Conduct Authority (FCA) has signed today an agreement with the Hong Kong Monetary Authority (HKMA) for reciprocal co-operation between the two markets, especially as it pertains to Fintech companies and financial innovation. Christopher Woolard, Executive Director of Strategy and Competition at the FCA, said: “Alongside promoting innovation in UK businesses, we also want to see the...

Race to Attract Fintech Talent Accelerates with Worldwide Regulatory Revamp

Fintech

The halls of bureaucracy are finally on the move as technological advancements promise a “big bang” transformation of finance and other areas. The British regulators, undoubtedly running while others seem to have just began walking, announced a raft of new measures to shake up banking based on recommendations by the Competition and Markets Authority. The most relevant for Fintech is an emphasis...