Bitcoin Exchanges Struggle To Work With Wary Banks

Cryptocurrency exchanges around the world are under an unprecedented amount of pressure. Meanwhile, Quartz reported Indian banks are delaying routine processes for local exchange platforms such as Koinex for several weeks. “A tussle between our payment service partner and their bank has caused an indefinite delay in the settlement of a large portion of deposits to… Please follow and like us:

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JPMorgan Says Too Much MiFID II Transparency Might Hurt Market Liquidity

As MiFID II approaches – and the majority of bulge bracket research providers have decided to eat the cost of research rather than charge for it – the looming concern is market liquidity amid MiFID II transparency. Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save… Please follow and like us:

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These Are the Biggest Threats to Investors, State Regulators Say

State securities regulators will be busy policing new and emerging scams in the new year. The North American Securities Administrators Association has just released its annual survey of state securities regulators’ top five current investment practices, products or schemes they’ve encountered over the past year as well as what they see as “emerging” threats in the… Please follow and like us:

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Tesla was under federal investigation over Model 3 and may still be, report says

PALO ALTO, Calif. — The Securities and Exchange Commission investigated Tesla over how it was selling its Model 3 sedan, but the company didn’t tell investors about it, and may still be under federal investigation, according to a new report. The firm led by CEO Elon Musk was under investigation by the securities regulator from June… Please follow and like us:

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China’s money supply sees steady increase

Regulators ‘need to prevent financial risks more proactively and effectively’ China’s money supply growth rate and the newly issued yuan-denominated loans both increased in November to support economic growth, although the monetary authority reiterated that risk prevention should be the policy priority. The M2, or a broad measure of money supply, increased by 9.1 percent year-on-year… Please follow and like us:

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HSBC Q3 profits up five-fold to $4.6 bn on booming Asia

Profits at banking giant HSBC leapt five fold in the third quarter to $4.6 billion, the company said Monday, as business booms in Asia and a huge restructuring drive bears fruit. The massive jump in pre-tax profits came weeks after a new chief executive was unveiled as part of a management overhaul that has seen the… Please follow and like us:

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China moves to shut down cryptocurrency exchanges

BEIJING – Chinese regulators are taking steps to shut down the country’s cryptocurrency exchanges and ban trading of digital cryptocurrency to rein in financial risks. All Beijing-based cryptocurrency exchanges had to halt new user registration by midnight on Sept 15 and publicly notify users when they formally close, according to a policy document issued by local… Please follow and like us:

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China Might Shut Down All Bitcoin Trading Platforms

Chinese regulators are bringing down the hammer on the cryptocurrency industry. First, China banned all initial coin offerings last week. Then multiple newspapers and a few trusted Chinese sources reported the country could soon shut down all local bitcoin exchange platforms. At the moment, there are more rumors floating around than actual policies. On Wednesday, China’s… Please follow and like us:

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Why crowds aren’t always wise: Lessons from mini-flash crashes on Wall Street

By Alexander Munk, Ph.D. Candidate in Mathetmatics, University of Michigan and Erhan Bayraktar, Professor of Mathematics, University of Michigan. Blink. About 300 milliseconds just passed, the same time required for a lightning bolt to travel 100,000 feet, a satellite to fly two miles or a stock price to swing from US$10 to $0.0001 and back. Wait,… Please follow and like us:

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Growth in money supply scaled down

Central bank: Economy’s needs met during deleveraging Growth in a broad measurement of China’s money supply dropped to a record low in June as regulators worked to reduce leverage in the nation’s economy. The M2 money supply grew 9.4 percent from a year earlier, after a 9.6 percent growth rate in May, which also was a… Please follow and like us:

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Judge approves $142 million class-action settlement in Wells Fargo sham accounts scandal

Wells Fargo & Co. has received preliminary approval for its proposed $142 million class-action settlement to compensate possibly millions of customers who had unauthorized accounts opened in their name. On Saturday, a federal judge in San Francisco found that the proposed settlement was “fair, reasonable and adequate.” The decision means that the plaintiffs in the class-action… Please follow and like us:

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Silicon Valley’s Congressman Has Questions For Jeff Bezos

Ro Khanna represents Silicon Valley in Congress and he has raised campaign cash from Internet moguls — but that doesn’t mean he thinks antitrust regulators should go easy on the tech industry. Instead, the freshman Democratic congressman this week became the first federal lawmaker to raise red flags about Amazon’s proposed acquisition of Whole Foods –… Please follow and like us:

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Wells Fargo guarantees settlement will repay customers hurt by unauthorized accounts

LOS ANGELES — Wells Fargo & Co. will guarantee that customers harmed by the bank’s practice of opening unauthorized accounts will get back fees they paid and be fully compensated for damage done to their credit scores, according to documents filed early Wednesday to settle several class-action lawsuits. That could mean the San Francisco bank will… Please follow and like us:

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Apple Is Fighting Against A New York Bill That’d Help You Fix Your iPhone

Third-party repair stores are a common option if you drop or break your smartphone, but Apple is reportedly not a fan of these alternative repair options. Apple is one of several high-profile companies that have been lobbying against a New York state bill that would make it easier to independent stores and users to repair devices.… Please follow and like us:

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FinTech Firms Aim to Put Finances in Consumers’ Hands

Matthew Cooper travels to Washington D.C. once a month so regulators at the Consumer Financial Protection Bureau (CFBP) can help him understand how to better serve and protect customers through EarnUp, an application that helps customers make micropayments (a portion of each paycheck) to pay off their loans all in one place. EarnUp and fintech companies… Please follow and like us:

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