Archive | September, 2016

Credit Suisse, Ipreo, Symbiont and R3 test blockchain system for syndicated loans

September 30th, 2016 by

Credit Suisse, Ipreo, Symbiont and R3 have completed the successful initial stage of a project to demonstrate how blockchain technology can be used to improve the syndicated loan market. The project was arranged by Credit Suisse, being managed by R3 in its lab and research center. It makes use of the technology solutions from Synaps […]

U.S. Securities and Exchange Commission to host public fintech forum

September 29th, 2016 by

The U.S. Securities and Exchange Commission (SEC) has scheduled a public forum to discuss fintech innovation at its Washington D.C. headquarters on November 14. “The proliferation of fintech innovation has the potential to transform virtually every aspect of our nation’s financial markets. The panels will discuss issues such as blockchain technology, automated investment advice or […]

UK FCA warns against using OneCoin

September 29th, 2016 by

The Financial Conduct Authority (FCA) has cautioned consumers against using cryptocurrency OneCoin. “We believe consumers should be wary of dealing with OneCoin, which claims to offer the chance to make money through the trading and ‘mining’ of virtual currencies”, the FCA said. The authority points to an ongoing investigation by the City of London Police, […]

Spain to tax bitcoin mining companies

September 28th, 2016 by

The National Directorate of Taxes of Spain has publicly issued a document that classified cryptocurrency mining operations as taxable economic activities. The latest notice requires bitcoin and altcoin mining companies – as well as individuals – to register themselves. The move, however credible it may look for legitimising crypto-mining operations, could also affect the profitability […]

Microsoft and Bank of America Merrill Lynch collaborate on blockchain trade finance

September 28th, 2016 by

Microsoft and Bank of America Merrill Lynch announced a collaboration on blockchain technology in order to transform trade finance transaction. As part of the deal, Bank of America will work directly with Microsoft Treasury (a group responsible for managing transactions related to its corporate treasury activity and strategic business investments and acquisitions), to establish a […]

R3, 8 member banks successfully test Intel blockchain platform

September 27th, 2016 by

R3 has announced that it and eight banks have successfully tested ‘Sawtooth Lake’, a blockchain platform powered by Intel Corp technology, for bond transactions. The Intel-developed platform used smart-contract functionality to enable trading, matching and settlement of US treasury bonds on-chain. Furthermore, automated coupon payments and redemption based on parameters including network time and third-party […]

US politicians announce blockchain technology caucus

September 27th, 2016 by

A bipartisan duo of lawmakers announced the creation of a caucus focused on blockchain technologies. In an announcement, Rep. Mick Mulvaney (R-SC) and Rep. Jared Polis (D-CO) announced the formation of the Congressional Blockchain Caucus. The new caucus – a congressional member organization – will be entirely dedicated to the “advancement of sound public policy […]

Poloniex suspend services in New Hampshire due to regulations

September 26th, 2016 by

Poloniex has announced temporary suspension of activities in New Hampshire, starting early next month. “Due to changes in New Hampshire’s regulatory statute as it applies to cryptocurrency, Poloniex will temporarily suspend New Hampshire account creation until further notice. For existing New Hampshire customers, you will receive an email with instructions on how to suspend your […]

SIX Securities Services partners with Digital Asset to explore blockchain potential

September 26th, 2016 by

SIX Securities Services and Digital Asset Holdings have entered into a partnership and announced plans to develop a concept for distributed ledger technology in the Swiss market. The initial phase of the project will demonstrate the ability to build and incorporate distributed, encrypted, straight through processing tools into existing securities transaction flows, and propose a […]

Banks test blockchain prototype for financial reference data management

September 23rd, 2016 by

Seven buy-side and sell-side financial services firms, including Citi and HSBC, have collaborated with financial innovation companies R3 and Axoni to explore how distributed ledger technology could simplify reference data processes. The group, working with R3 and Axoni through the Securities Industry and Financial Markets Association (SIFMA), sought to use blockchain technology to enhance risk […]