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Crypto 2020: One Step Up; Two Steps Back

PYMNTS

If 2020 taught us anything about cryptocurrencies, it’s that they’ve reached a tipping point. Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies. Keeping An Eye On Fraud.

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Today In Payments: $50B In Crypto Moved Out Of China; Uber Health To Deliver Meds

PYMNTS

In today’s top news, $50 billion worth of cryptocurrency was transferred out of China, and Uber Health and NimbleRx have teamed on prescription delivery. Report: $50B in Cryptocurrency Moved Out of China. New Report: How Behavioral Analytics Help FIs Block Fraud at the ITM. The Main Street Rescue That Wasn’t (And Still Isn’t).

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Virtual Currency Case Could Determine CFTC?s Power Over Crypto

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Commodity Futures Trading Commission (CFTC) has the power to fight fraud centered around cryptocurrencies. According to Reuters , lawyers not involved in the suit say that this case could determine CFTC’s oversight of cryptocurrencies, which are not backed by any central bank.

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FinCEN Tightens Real Estate Cash-Buyer Reporting Threshold

PYMNTS

While the previous purchase amount threshold varied by city, it’s now set at $300,000 for each metropolitan area, covering certain counties within the following major locations: Boston, Chicago, Dallas-Fort Worth, Honolulu, Las Vegas, Los Angeles, Miami, New York City, San Antonio, San Diego, San Francisco and Seattle.

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Buying into AML risks in real estate

Abrigo

Key Takeaways Real estate markets are vulnerable to money laundering and fraud because of their transaction size and appreciation over time. Regulations such as Geographic Targeting Order updates help identify AML risks by requiring identification for certain real estate purchases.

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Facebook And Google Payments Efforts Top Week’s News

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Users of Facebook Pay , which the company said is not related to its proposed cryptocurrency Libra, will be able to enter a preferred payment method and then use the option to eventually pay throughout all of the related apps. Amazon To Build $40M Robotics Innovation Hub Near Boston. Deutsche Bank told U.K. Money Laundering Epidemic.

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Bitcoin Daily: Hdac, CertiK Partner For Blockchain-Powered IoT; Tezos Expected To Settle Securities Lawsuit With $25M Settlement

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The lawsuit goes back to October 2017, when Boston law firm Block & Leviton said it was looking into securities fraud by the Tezos ICO. But stakeholders have pushed for a bigger range of tokens to be exempt from securities legislation recently.