Avanti Bank & Trust has announced plans for a ‘stablecoin disruptor’ that is designed to modernize U.S. dollar payments. According to a July 23 announcement, Avanti said that the payment instrument- ‘Avit,’ is not a security and predicted it “will likely be treated as a cash equivalent” by regulators. Top story: Avanti Financial Group Announces Accelerated Charter Application – Avanti https://t.co/ml61WOnYCi, see more https://t.co/BoHcMI7iIZ — José Antonio Bravo (@jabravo) J

Crypto fund manager Grayscale Investments makes Bitcoin Cash and Litecoin available for OTC market trading. According to a July 20 announcement Grayscale stated that the Financial Industry Regulatory Authority (FINRA) in the United States had approved shares of the firm’s Bitcoin Cash Trust and Litecoin Trust for public trading. Our team continues to bring new opportunities for investors to gain exposure to digital currencies: Grayscale #BitcoinCash Trust & Grayscale #Litecoi

The U.S. Secret Service announced the creation of the Cyber Fraud Task Force on July 10 to combat cybercrimes related to the financial sector. Cyber Fraud Task Force or CFTF is created by merging its Electronic Crimes Task Forces and Financial Crimes Task Forces into a single network. New post: U.S. Secret Service Announces the Creation of Cyber Fraud Task Force https://t.co/EHnlxIfnPA — Digitpol (@digitpol_cyber) July 14, 2020 According to its official announcement, Secret

US Banking regulators, the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) are opening up virtual hours for industry players looking to discuss innovation and new technologies in banking. The new meetings will be capped at one hour in length, slated for just two days, July 29-30. Those interested need to register by July 17, as per an announcement on July 2 announcement. CFPB, OCC Host Virtual Innovation Office Hours https:/

One of the Big Four Accounting Firms Ernst & Young (EY) has announced that a new crypto tax app called EY CryptoPrep will help crypto investors in US with tax filings. EY CryptoPrep is a fully automated, web-based Software as a Service (SaaS) product to assist clients with U.S. tax filings. The app takes data from numerous exchanges and major cryptocurrencies while automatically applies relevant tax rules and completes Form 8949. Clients can choose to use the program themselv

Overstock’s blockchain arm tZERO plans to launch its broker dealer service in the United States by Q2 2020. On April 30th, Forbes reported that tZERO Chief Executive Officer (CEO) Saum Noursalehi said he plans to expand the adoption of crypto, security tokens and mainstream trading with a one-stop-shop. User growth for the crypto wallet was up 40% for Q1 & @Noursalehi believes that more growth is possible. Check out a recent @Forbes article by @robertanzalon15 to learn more a

Indian tech startup Smart Sight Innovation (SSI) develops an app designed to improve maintenance and inspection of vehicles. According to an April 27. announcement SSI built the mobile app for an unnamed American client specializing in the development of AI, IoT and other blockchain-based platforms. The app is currently available on Android devices. The app creates a summary of issues such as repair work and compliance with inspection criteria. SSI says that the app sends ale

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two Chinese nationals accused of laundering cryptocurrency that was stolen in a 2018 crypto exchange hack. Their activity is linked to Lazarus Group, a hacking group allegedly connected to the North Korean government. At the same time, the Department of Justice announced an indictment for money laundering against the same two individuals. OFAC accuses Yinyin Tian and Juiadong Li of assis

United States Congressman Bill Foster (D-IL) has questioned the Chair of the Federal Reserve Jerome H. Powell on U.S’s central bank digital currency (CBDC) progress at a hearing on monetary policy. Foster began his questioning by asking Powell: “Do you think that establishing a digital dollar would help ensure that the U.S. dollar continues to serve as the core of the U.S. and the world’s financial system?” Powell agreed with the importance of the dollar to the U.S.’s financi

RBC Capital Market analysts have suggested that holding back Facebook Libra, might open up possibilities for China’s central bank digital currency to dominate globally. China’s National Digital Currency Could Boost Markets Insider reported on Oct 15. that the analysts of RBC presume that Facebook Libra stablecoin plans urged China to develop its own yuan backed digital currency. RBC wrote to clients: “If US regulators ultimately dismiss Libra and decide not to draft regulatio

Chinese crypto mining giant Canaan Creative plans to list as a publicly traded company in the United States in November 2019, according to an unconfirmed report. Oct 8. 8BTC reported the unconfirmed news citing several sources. Canaan Creative declined to comment on the matter to the Chinese crypto outlet 8BTC while the news was published. $200 Million Initial Public Offerings (IPO) Request A $200 million initial public offering (IPO) request was filed by Canaan Creative with

President of the Federal Bank of Philadelphia, Patrick Harker believes digital currencies of Central banks are inevitable. The president although believes that the United States of America should not lead the Way, pertaining to the dollar being the world’s reserve currency. “It is inevitable… I think it is better for us to start getting our hands around it.” Patrick Harker, President of Federal Bank of Philadelphia Patrick Harker On Oct 2nd,Reuters made a report, where Patri

The US Department of Homeland Security (DHS) awards $143,478 to blockchain firm Danube Tech based in Vienna for developing blockchain security solutions. Silicon Valley Innovation Program On Sept 26th, United States DHS Science and Technology Directorate (S&T) announced that that the Vienna based blockchain firm Danube Tech is given a contract in an attempt to fight against forgery and the counterfeiting of certificates and licenses. The press release added that all the servi