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Swedish Regulatory Body (FSA) Warns Against Crypto-assets Products

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by
Adeniyi Olowoporoku
on
February 23, 2021 Regulation
Swedish Financial Supervisory Authority (FSA) has issued a warning to citizens regarding the trade of crypto-asset products. This comes after the regulatory body previously warned about the risks with trading in crypto-assets.
Crypto-assets Products Unsuitable for Retailers
The latest warning from the FSA was revealed in a blog post on the regulatory body’s website on Monday, Feb 22.
According to the report, the regulator revealed that it had taken a thematic review of the market for financial instruments that are backed by crypto-assets.
The result of which showed that there is a high risk that consumers will lose money on their investments. Also, the report stated that crypto-asset products like Bitcoin exchange-traded products might be unsuitable for retail consumers.

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Anonymous Donor Gifts Cape Code Hospital $800k in Bitcoin (BTC)

Officials at the Cape Code Hospital have revealed that they received a bitcoin (BTC) donation of $400k twice from an anonymous donor, according to a report by the Boston Globe on February 19, 2021. Cape Cod Hospital Gifted $800k in BTC At a time when the COVID-19 pandemic has triggered…

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Morocco's Central Bank Looks to Launch Own Digital Currency

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by
Ogwu Osaemezu Emmanuel
on
February 21, 2021 Regulation
The Central Bank of Morocco is now studying the concept of central bank digital currencies (CBDCs) and has set up a committee to extensively explore its pros and cons, according to reports on February 20, 2021.
Morocco Eyes CBDCs
At a time when consumers around the world are increasingly embracing digital payment methods rather than cash, apex banks across various jurisdictions have begun studying central bank digital currencies (CBDCs) in a bid to remain relevant in the rapidly evolving finance ecosystem.
In the latest development, Bank-Al-Maghrib (BAM), the central bank of Morocco, has put in place an exploratory committee to look into the benefits and disadvantages of CBDCs for the nation’s economy and make recommendations

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Medici Land Governance, Liberia Government Launch Pilot Project to Record Land Registration on Blockchain

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by
Adeniyi Olowoporoku
on
February 19, 2021 Blockchain
Blockchain-based land registry firm Medici Land Governance (MLG) has launched a land administration pilot project in Liberia. The project seeks to administer proper land issuance in the West African nation.
Land Registration on Blockchain
Medici Land Governance (MLG) launched the land administration project on February 18 in a press release. The launch is part of a partnership agreed between MLG and Liberia’s finance and development ministry.
Liberia has faced significant problems regarding the management of land within its country. This is due to the lack of clarity in land ownership and has resulted in investors shying away from investing in real estate in the West African nation.

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Crypto Scams Constitute Two-thirds of Reported Investment Fraud in Austria

Austrian regulators say crypto scams are the most reported forms of investment fraud in the country ahead of the usual suspects like stock or gold schemes. Authorities in the country are trying to firm up virtual currency regulations to combat the menace of such criminal activities while regulated trading in…

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Mastercard CEO Expounds on the Company's Plans to Accept Cryptocurrency

Embracing CBDCs
In an interview with Bloomberg’s Emily Chang, the CEO stated that the company would enable its clients to transact using Bahamas digital currency Sand Dollar.
The partnership offspring will enable Bahamas citizens to pay for services in Mastercard-accepted places.
Mastercard and Island Pay previously launched the first-ever global central bank digital currency linked card. Nevertheless, Mr. Miebach said the financial entity is still looking into which it can include private-backed stablecoins in its network.
When asked about Bitcoin, he said due to such cryptos’ volatile pricing; it will be difficult for Mastercard to adopt non-asset-backed digital coins. According to Bloomberg, when the corporation mentioned they would accept crypto payments in the future, it led to a price upsurge of several cryptocurrencies.

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Julia Sakovich | Coinspeaker

Author Julia Sakovich.

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Digipharm (DPH) Partners with Pakistan to Launch Blockchain-Based Healthcare Solution

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by
Ogwu Osaemezu Emmanuel
on
January 28, 2021 Blockchain
Digipharm (DPH), has inked a partnership deal with Pakistan’s Social Healthcare Fund. The alliance aims to digitize the processes of the nation’s healthcare funds controlled by the National Safety Division, Bait-Ul-Mal, according to a press release on January 27, 2021.
Healthcare on The Blockchain
Per a 2019 report by Healthcare Transformer, the global healthcare industry has been slow to join the digital revolution bandwagon, despite the fact digitalization could usher in a vast array of improvements to the sector, including enhanced healthcare delivery to patients, improved diagnosis, advanced access to medical services and more.

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European Payment Giant SIA Works on Blockchain-Based Credit Trading

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by
Anthonia Isichei
on
January 28, 2021 Blockchain
SIA, a major Italian payment company and a subsidiary of CDP Equity, has collaborated with fintech firm Wizkey to offer blockchain-based credit trading.
Blockchain Technology for Credit Trading
According to a press release on Tuesday (Jan. 26, 2021), SIA announced the launch of a new initiative in partnership with Wizkey that would enable financial institutions such as banks, financial operators, and funds, to trade credits, including non-performing loans (NPL) using blockchain technology.
Part of the features of the new credit trading platform will see every credit portfolio with its permanent data room, with the use of blockchain technology ensuring that data and history are authentic, while preventing asymmetry risks.

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Tether Banker Says the Stablecoin is Fully-backed

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by
Anthonia Isichei
on
January 23, 2021 Altcoins
Deltec, the Tether (USDT) banker based in the Bahamas, says the popular stablecoin is fully-backed, downplaying long-standing reports of the integrity of its client’s reserves. The declaration is coming as both Tether and Bitfinex are submitting documents to the New York Attorney General (NYAG) concerning an $850 million embezzlement case from April 2019.
Tether is More than 100% Backed by Fiat Reserves
Appearing on an episode of Laura Shin’s Unchained Podcast, Gregory Pepin, deputy CEO at Deltec clarified Tether’s reserve status, stating:
“Every tether is backed by a reserve and their reserve is more than what is in circulation. We can see it first hand, so I can confirm that.”

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