Articles by Tom Wilson

Many Financial Firms and Governments See Cryptocurrencies as Risky: Survey

Financial firms and governments overwhelmingly see cryptocurrencies as risky, a major survey found on Tuesday, with the potential for bitcoin and other digital tokens for use in money laundering and sanctions busting among the chief worries. Around 60% of respondents …

Where ‘DeFi’ Crypto Users See Sure Bets During COVID, Critics See Unregulated Risks

It sounds like a surefire bet. You lend money to a borrower who puts up collateral that exceeds the size of the loan, and then you earn interest of about 20%. What could possibly go wrong? That’s the proposition presented …

Analysis: Fintech Funding Slides as Coronavirus Casts a Chill with Venture Capitalists

Aritra Chakravarty, founder of London-based online accounts and investments provider Dozens, admits it’s a tough time to be seeking up to 15 million pounds ($19 million) for a start-up. “It’s definitely a bearish market” said Chakravarty, who is seeking funding …

Facebook Revamps Its Libra Cryptocurrency in Response to Regulatory Backlash

Facebook’s planned cryptocurrency Libra will be linked to individual national currencies and overseen by global watchdogs in a scaled-back revamp it hopes will win regulatory approval. The prospect of Facebook’s 2.5 billion users adopting Libra has led to intense scrutiny …

HSBC to Shift $20 Billion Worth of Assets to Blockchain-Based Platform

HSBC aims to shift $20 billion worth of assets to a new blockchain-based custody platform by March, in one of the biggest deployments yet of the widely hyped but still unproven technology by a global bank. The platform, known as …

UK Markets Regulator Warns of Dangers of Unregulated Cryptocurrencies

Britain’s markets watchdog said on Wednesday that bitcoin and other cryptocurrencies have no intrinsic value and offer consumers few protections, but added that such coins fall outside the scope of its powers. The Financial Conduct Authority said crypto markets were …

Coordinated Global Regulation of Cryptocurrencies Needed: Circle CEO

Major economies should launch coordinated regulation of cryptocurrencies, the head of Goldman Sachs-backed startup Circle said on Monday, underscoring growing industry support for international rules on digital money. “Ultimately there needs to be normalization at the G20 level of critical …

UK Cryptocurrency Market Similar to ‘Wild West’ and Should Be Regulated: Lawmakers

Britain’s cryptocurrency market resembles the Wild West and should be regulated, lawmakers said on Wednesday, urging the government to bring to heel a sector plagued by volatile price swings, vulnerability to hacking and weak consumer protection. The government’s current approach …

Mining Jobs to Focus on Community Relations as Robots and Sensors Take Over

Some mines in the next decade will run without humans and instead rely on robots, virtual models and sensors, according to Anglo American Plc. Anglo is betting on technology, such as computerized drills with “chiseling ability as good as a …

Democratic Republic of Congo to Open $500M Insurance Industry to Investors

The Democratic Republic of Congo’s insurance regulator is preparing to open up an industry for the first time that could be worth as much as $500 million a year to investors. The newly created Insurance Regulatory Authority, known by the …