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Crypto 2020: One Step Up; Two Steps Back

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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.

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Five At Five: Mastercard Makes A Biometric Bet

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Today’s stories include a new mark in the evolving relationship between payments and biometrics, along with a look at possible new regulation for digital currency. As biometrics have begun to represent the next generation in securing payments, Mastercard has unveiled a technological advancement for its own biometric cards.

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SEC Charges Two Firms With ICO Violations

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Securities and Exchange Commission late last week settled charges with two companies it charged with offering digital tokens in a manner that ran afoul of rules. It also signals an increase in the SEC’s oversight of the cryptocurrency market. The two companies that settled with the SEC are CarrierEQ and Paragon Coin Inc.

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Amid The Losses, Taking Stock Of The Crypto Crash

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To date as a group, the losses have mounted for all the cryptocurrencies out there – the ones that came to market and were snapped up and bought by speculators, and then sold. In this space just last month, we noted findings from Boston College that showed that 4,000 ICOs had raised $12 billion. Past is prologue, as the saying goes.

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EU Bankers Weigh Risks, Rewards of CBDC – and Cash’s Staying Power

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To that end, Bloomberg reported at least some financial regulators from the European Union say there need to be strict controls governing central bank digital currencies in place — and Libra (among other private efforts) may present a threat to financial stability. Central bank digital coins on the Continent – but plenty of room for cash.

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Australia Central Bank Sees No ‘Public Policy’ Case For CBDC (For Now)

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Over the past several days, for example, financial regulators from the European Union said there need to be strict controls governing central bank digital currencies in place — and Libra (among other private efforts) may present a threat to financial stability.

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“AML Solutions Are Still Stuck In The Middle Ages”

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The industry paid $321 billion in fines just through the end of last year, estimated Boston Consulting Group. Regulation and technology must go hand in hand to combat the bad guys. Adjaoute noted that banks invest billions around the world to comply with existing rules and regulations — and scramble when the playing field shifts.

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