Crypto Payments Firm Halts Operations Citing Singapore’s New Regulatory Regime

Cryptocurrency payments provider Coinpip has shut down, but possibly only temporarily. The Singapore-based firm announced on its website that it has “suspended operations” while it looks at becoming licensed by the country’s financial regulators after new rules were brought in earlier this year. “We will focus on reviewing license requirements under the Singapore Payment Services […]

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Samsung to Target EU Payments Sector With Blockchain-Based Solution for Banks

Samsung’s enterprise technology arm is building a blockchain-based settlements solution for merchants and banks. The Korea Herald reported Wednesday that Samsung SDS had signed a memorandum of understanding with Israeli fintech solutions provider Credorax to develop the solution, aimed to create efficiencies by automatically logging payments data on bank records and ledgers. The product, which […]

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Speculation Undermines Crypto Prices and Utility, Says Bank of England Senior Economist

Speculation creates congestion on the blockchain that harms a cryptocurrency’s utility and overall value, a senior economist at the Bank of England (BoE) has said. Peter Zimmerman, who has been a senior economist at the U.K. central bank since 2007, argued in a working paper published Friday that speculation undermines the effectiveness of cryptocurrencies to […]

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