News 

Lithuania’s Central Bank Now Allows Crypto-Based Investment Funds

“The document specified which terms FMPs may establish investment funds for virtual assets, and created parameters for how and when virtual assets can be used for payment” writes Rachel Mcintosh for financemagnates.com. The Central Bank of Lithuania has officially updated its views on ICOs (initial coin offerings) and digital assets, according to an announcement published last week.However, there are some caveats: FMPs are forbidden to accept digital assets with the requirement to repay them with or without interest.The most recent announcement tells that although the bank has not made significant…

Read More
News 

ConsenSys Backs Ethereum-Based Unlisted Infrastructure Investment Startup Allinfra

“Ethereum (ETH) blockchain-focused development company ConsenSys has invested in an infrastructure investment startup, Allinfra, according to a press release shared with Cointelegraph on Feb. 21” writes Ana Berman for cointelegraph.com. Allinfra facilitates direct investments in unlisted infrastructure assets via the Ethereum blockchain, providing users with the ability to create, purchase and transfer economic or ownership interests in these assets.As per the announcement, ​Allinfra will rely in part on ConsenSys’ technological capabilities and expertise in the tokenized assets area. Executive Director of Enterprise and Social Impact at ConsenSys, Vanessa Grellet, told…

Read More
News 

Central Bank of Lithuania Issues Updated Position on Virtual Assets and ICOs

“The Bank of Lithuania has updated its position on virtual assets and initial coin offerings (ICOs), according to an announcement published on Feb. 14” writes Ana Alexandre for cointelegraph.com. The policy still does not allow FMPs to receive payments with virtual assets, but provides the possibility to employ third-party services.The Bank of Lithuania initially issued a document detailing its position towards ICOs and digital currency in October, 2017, defining how and when virtual assets may be used for payment.FMP are prohibited from accepting virtual assets with the obligation to repay…

Read More
Crypto News 

Lloyd’s of London Provides Insurance for BitGo Crypto Assets

“Crypto wallet BitGo has come up with a new offering that allows its users to cover up to $100 million worth of their digital assets held in their accounts with the blockchain security firm” writes Aziz Abdel-qader for financemagnates.com. While traditional institutions are shying away from cryptocurrencies and related assets, BitGo obtained its insurance coverage from the prestigious Lloyd’s of London, one of the oldest insurance agencies in the world, with centuries of experience in this industry. “We have been working hard to tailor a bespoke insurance product for BitGo,…

Read More
GBP News 

Aviva, NatWest to join ‘Brexodus’ of business to EU

“Aviva was among the last of the big insurers to secure court approval for shifting chunks of life, general, property, casualty and motor insurance policies to EU hubs” reports businessinsider.com. It had previously secured court approval to move around 1 billion pounds in general insurance assets.Among banks, Britain’s Barclays secured court approval last month to move 190 billion euros in assets to a Dublin subsidiary.The High Court in London approved the transfer of policies after a hearing on Aviva’s application last week to move life insurance assets.Most of the policies…

Read More
Crypto News 

Coinbase Buys Blockchain Intelligence Startup Neutrino

“Based in Italy, Neutrino helps map blockchain networks, and in particular crypto token transactions, to pull in information and insight” reports techcrunch.com. Coinbase, the world’s most valuable crypto company, is gearing up to add more cryptocurrencies to its exchange thanks to its latest acquisition.We already know the firm wants to a glut of new crypto assets, but today it announced it has snapped up blockchain intelligence startup Neutrino in an undisclosed deal that seemed destined to help further that goal. Source: techcrunch.com

Read More
News 

Citi to double Brazil commercial bank unit’s assets by 2020

“The bank’s commercial unit has roughly 5 billion reais ($1.34 billion) in assets, out of 75 billion reais for Citi’s Brazilian operation as a whole, most of it dedicated to larger corporations” reports businessinsider.com. This move underscores a shift in Citi’s strategy in Brazil toward wholesale activities after selling its retail assets there to Itaú Unibanco Holding SA for 710 million reais.Rubens said those assets jumped by 27 percent in 2018 as an economic recovery increased demand. Source: businessinsider.com

Read More
Crypto News 

Storing Your Crypto: 3 Tips to Make Sure Your Crypto Assets are Secure

“Over the last couple of weeks, the world has watched as the QuadrigaCX crypto exchange unfolded” reports livebitcoinnews.com. Keeping your crypto in an exchange wallet defeats the entire purpose of a decentralized system.Long story short, the exchange lost access to the majority of its assets in cold storage after the founder died unexpectedly. Source: livebitcoinnews.com

Read More
News 

Survey: 41% of Institutional Investors to Invest in ICOs Within Five Years

“The survey was conducted in December 2018 and January 2019 by market research company PollRight, and included responses from 71 global institutional investors, including private equity, hedge funds and pension funds” writes Max Yakubowski for cointelegraph.com. According to a survey of institutional investors conducted by the Global Blockchain Business Council (GBBC), 19 percent believe that digital assets will be regularly invested in and traded by 2021. Recently, cryptocurrency assets management fund Grayscale Investments presented their Q4 2018 report, noting that institutional investors were responsible for the majority of digital assets…

Read More
News 

Elizabeth Warren’s proposed wealth tax on the richest Americans won’t remove the incentive to work, no matter what billionaires say

“According to a recent poll, more than 60% of registered voters support the wealth tax proposal put forth by Presidential candidate Elizabeth Warren” writes Henry Blodget for businessinsider.com. Warren’s proposal would tax the wealth of only the richest Americans — those with assets of $50 million or more.Compared to the tax policies we’ve had for the past few decades, a wealth tax is a radical idea. Watch the latest episode of “BI Today,” in which INSIDER CEO Henry Blodget discusses what a wealth tax would mean for the economy ».…

Read More