Cryptocurrency Crime Drops in 2020 but ‘Decentralized Finance’ Losses Rise: Study January 29, 2021 By Gertrude Chavez-Dreyfuss Losses from cryptocurrency theft, hacks and fraud fell 57% last year to $1.9 billion, as market participants boosted security systems,...
Many Financial Firms and Governments See Cryptocurrencies as Risky: Survey September 30, 2020 By Tom Wilson Financial firms and governments overwhelmingly see cryptocurrencies as risky, a major survey found on Tuesday, with the potential for bitcoin...
Cryptocurrency Firm Quadriga Collapsed Due to Late Founder’s Ponzi Scheme: Regulator June 15, 2020 By Nichola Saminather Last year’s collapse of Canadian cryptocurrency trading platform QuadrigaCX was due to a Ponzi scheme operated by founder Gerald Cotten,...
Cryptoasset Insurer Evertas Receives License to Operate in Bermuda June 10, 2020 Cryptoasset insurer Evertas has received a license from the Bermuda Monetary Authority to start operating from the jurisdiction. Evertas’ operations...
Facebook Revamps Its Libra Cryptocurrency in Response to Regulatory Backlash April 17, 2020 By Brenna Hughes Neghaiwi and Tom Wilson Facebook’s planned cryptocurrency Libra will be linked to individual national currencies and overseen by global watchdogs in a scaled-back revamp...
Lloyd’s Launches Cryptocurrency Wallet Insurance Policy March 2, 2020 Lloyd’s has launched an insurance policy to protect cryptocurrency held in online wallets against theft or other malicious hacks. The...
Arch Insurance (UK) and Marsh Launch ‘Blue Vault,’ Insurance Cover for Digital Assets September 19, 2019 Arch Insurance (UK) Ltd., in collaboration with Marsh, the insurance broker and risk adviser, announced the launch of Blue Vault,...
UK Markets Regulator Warns of Dangers of Unregulated Cryptocurrencies August 1, 2019 By Huw Jones and Tom Wilson Britain’s markets watchdog said on Wednesday that bitcoin and other cryptocurrencies have no intrinsic value and offer consumers few protections,...
House Democrats Eye Possible Ban on Big Tech Firms Offering Financial Services July 15, 2019 By Pete Schroeder and Ismail Shakil A proposal to prevent big technology companies from functioning as financial institutions or issuing digital currencies has been circulated for...
Facebook’s Cryptocurrency Gets Pushback from Global Financial Watchdogs June 24, 2019 By Alastair Marsh Facebook Inc. was hours away from the formal announcement of its ambitious foray into financial services, but French Finance Minister...