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BoE Gov Says Crypto Could Slow Bank Loans

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The BoE has warned about Facebook’s proposed cryptocurrency Libra , as well as other digital coins, and how they must be carefully considered before being approved. The group will be co-chaired by Cunliffe and former ECB official Benoit Coeure , who helms the BIS Innovation Hub.

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Big Tech Faces Regulation Reckoning As 2021 Dawns

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As reported in this space , the DSA and DMA cover online marketplaces, social media and other platforms. The outcome, should it come in 2021, would shape how app store and other platforms operate, and whether they promote or hinder competition and innovation in various tech marketplaces.

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Crypto Regulation To Tighten Scrutiny On Money Laundering

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Amid the announcement of a new cryptocurrency – that would be Libra – the Financial Action Task Force (FATF), which operates as global regulatory firm based in Paris with a membership roster of countries such as China and the United States, has said it will boost its examination of digital currencies with an eye on money laundering.

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FB Touched Base With Fed On Crypto

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Federal Reserve Chairman Jerome Powell revealed that Facebook has spoken to the central bank about its upcoming cryptocurrency, called Libra. There’s just a tremendous amount of innovation going on out there,” he said. But Powell believes the social media giant will overcome any issues before Libra is launched.

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Japan’s Central Bank Chief Presses For Global Effort To Regulate Libra 

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Bank of Japan Head Haruhiko Kuroda spoke to business leaders in Osaka about the importance of having a coordinated global plan to regulate Libra and other cryptocurrencies, Reuters reported on Tuesday (Sept. The creation of money will “strictly remain the province of sovereign nations,” CoinTelegraph reported.

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China, Alibaba Are Big Players On The Blockchain Patent Block

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In tech, innovation is everything. In innovation, intellectual property is, well, almost everything — it can be the hardware, the software, the processes that come from creative endeavor. As has been well-documented in this space, the damper on activity tied to cryptos has extended to social media. And patents?

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Libra, MoneyGram-Ripple Deal And Fraud Prevention Top Week’s News

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The dispute over the Office of the Comptroller of the Currency ‘s (OCC’s) national bank charter, which became available to FinTech firms last year, has reportedly caused technology conglomerates to shy away from a tool that aims to provide nonbank firms with a more streamlined way to operate on a national level. Or does it?

Fraud 101