Criminals who keep their funds in cryptocurrency tend to launder funds through a small cluster of online services, blockchain investigations firm Chainalysis said in a report last week. From a report: This includes services like high-risk (low-reputation) crypto-exchange portals, online gambling platforms, cryptocurrency mixing services, and financial services that support cryptocurrency operations headquartered in high-risk jurisdictions. Criminal activity studied in this…
Tag: financial services
Britain is Cracking Down on the $3.7 Billion ‘Buy Now, Pay Later’ Industry
Popular “buy now, pay later” shopping services like Klarna will face stricter regulation under proposals announced by the U.K. government Tuesday. From a report: The Treasury said buy now, pay later (BNPL) firms would come under the supervision of the Financial Conduct Authority (FCA), which regulates financial services firms and markets in Britain. Such firms will be required to conduct affordability…
AOC, Ted Cruz Slam Robinhood for Freezing Some Trades Amid GameStop Volatility
With Reddit’s interest in sending some stocks soaring showing no sign of slowing down, the trading app Robinhood started restricting some transactions Thursday morning. Reddit wasn’t happy — and neither are some lawmakers. From a report:The incident apparently struck an unusual bipartisan chord, with Texas Republican Ted Cruz throwing his weight behind progressive Democrats who called out the company. Rep. Rashida…
Bitcoin Surges 25% In One Week. Warren Buffett Still Won’t Buy It
Last Sunday we reported Bitcoin’s price had surged 50% in the previous month. In the week since it’s surged another 24.8%. As Bitcoin celebrates its 12th anniversary, a Forbes columnist writes that Bitcoin “soared to $34,000 yesterday — but here’s why Warren Buffett will never own Bitcoin.” Buffett has called Bitcoin, among other names, “rat poison squared” and has said he…
Introducing Four New Online Master’s Degrees from HSE University
By Betty Vandenbosch, Chief Content Officer, Coursera Degrees in business, technology, and data science will enable students around the world to prepare for in-demand jobs The “future of work” is already here. According to the World Economic Forum, the global workforce is automating faster than expected, displacing 85 million jobs in the next five years. […]
The post Introducing Four New Online…
China Halts Ant Group’s Blockbuster IPO
In a late-evening announcement that stunned China, the Shanghai Stock Exchange slammed the brakes on Ant’s initial public offering, which was set to be the biggest stock debut in history with investors on multiple continents and at least $34 billion in proceeds. The New York Times reports: The stock exchange’s notice to Ant said that the company’s proposed offering might no…
Philippines Starts Registering Millions for National ID Cards
The Philippines began Monday registering millions of citizens for its national identification system, hoping to promote electronic payments and make it easier for low-income earners without bank accounts to access financial services. From a report: All Philippine citizens and resident foreigners are required to register such information as name, sex, date of birth, place of birth, blood type, address and nationality….
Is Digital Banking the Wave of the Future?
CNN looks at a unique new digital bank named Greenwood — and its implications for the future of banking:
Greenwood was created by Bounce TV founder Ryan Glover and his close friend, rapper-activist Michael “Killer Mike” Render. The leadership team at Greenwood, which includes former Atlanta Mayor Andrew Young, unveiled their new platform on Thursday after raising more than $3 million in…
Citigroup Tech Executive Unmasked as Major QAnon ‘High Priest’
QAnon’s biggest news hub was run by a senior vice president at Citigroup, the American multinational investment bank and financial services company Citigroup. Jason Gelinas worked in the company’s technology department, where he led an AI project and oversaw a team of software developers, according to Bloomberg. [Alternate URL] He was married with kids and had a comfortable house in a…
Personal Information of Roughly 46,000 Veterans Exposed In VA Hack
An anonymous reader quotes a report from CNN: The Department of Veterans Affairs said Monday that roughly 46,000 veterans had their personal information, including Social Security numbers, exposed in a data breach in which “unauthorized users” gained access to an online application used for making health care payments. A preliminary review of the incident indicated that the hackers accessed the application…