Ripple has sold $15M of its stock in MoneyGram

Ripple Labs has sold a huge chunk of its 2019 investment in MoneyGram.  Per a Friday night filing with the Securities and Exchange Commission on Friday night, from Nov. 27 through Dec. 4, Ripple Labs managed to sell 2,264,113 shares of MoneyGram (MGI). The tech firm netted a total of $15,303,792.60 from the sales. MoneyGram’s stock value has soared in recent months, from $2.94 on Oct. 1 to $8.53 on Nov. 23. In no small part thanks to news of Ripple’s sell-off, MGI has slipped back down to $6.54 as of…

It’s not about data ownership, it’s about data control, EFF director says

As technology advances, personal data becomes an increasingly relevant topic. Many in the crypto industry hold sovereign finance and data privacy in high regard. Participants’ best efforts may be undermined by centralized businesses and regulating bodies, however, according to Cindy Cohn. Cohn is the executive director at the Electronic Frontier Foundation, or EFF, a nonprofit entity focused on digital rights.  Cohn joined a Web Summit panel on Thursday labeled “Internet: Who owns our data?” Pointing toward the title, she explained: “I actually think that’s the wrong question, I think the question is…

China’s central bank plans digital yuan pilot for payments to Hong Kong

China’s central bank and the Hong Kong Monetary Authority, or HKMA, are in the preliminary stages of piloting the digital yuan for cross-border payments — underscoring another key development in the rollout of a central bank digital currency, or CBDC. In a media release that appeared on the HKMA website on Friday, chief executive Eddie Yue provided an update on the ongoing work surrounding cross-border payments. He indicated that HKMA is in dialogue with the People’s Bank of China, or PBOC, to begin pilot testing the e-CNY. Yue said: “The…

‘Ethereum only’ investors are growing, according to Grayscale

Bitcoin (BTC) got many investors hooked on crypto, but it’s Ethereum (ETH) that’s beginning to garner more attention, according to Grayscale.  In a phone interview with Bloomberg, managing director Michael Sonnenshein said 2020 has seen a significant rise in “Ethereum only” investors, underscoring the asset’s growing appeal beyond the development community. He said: “Over the course of 2020 we are seeing a new group of investors who are Ethereum first and in some cases Ethereum only. […] There’s a growing conviction around Ethereum as an asset class.” Grayscale manages a…

‘Nobody’s going to ban Bitcoin’

Brian Brooks, the head of the Office of the Comptroller of the Currency, said regulators are not looking to “kill” Bitcoin (BTC) but instead ensure its smooth integration into the financial system.  In an interview with CNBC’s Squawk Box on Friday, Brooks said: “We’re very focused on getting this right. We are very focused on not killing this, and it is equally important that we develop the networks behind Bitcoin and other cryptos as it is that we prevent money laundering and terrorism financing.” The Office of the Comptroller of…

DeFi and Eth 2.0 are whole new convos for regulators, says SEC’s Hester Peirce

Hester Peirce, commissioner for the United States Securities and Exchange Commission, explained during an exclusive interview with Cointelegraph that decentralized finance, also known as DeFi, has created new challenges for the SEC.  Peirce, nicknamed “Crypto Mom” for her interest in digital asset innovation, mentioned that the quickly rising DeFi sector has resulted in a number of unresolved legal issues: “DeFi has posed a challenge for the SEC in a similar way that the ICO boom did in 2017. What is different here is that the pace of DeFi has actually…

China Construction Bank’s blockchain bond efforts take a new direction

China Construction Bank, the world’s second-largest bank by assets, is cooperating with Malaysian and Singaporean partners to test blockchain technology for use in the bond market. As previously reported, China Construction Bank’s branch in Labuan, Malaysia, had initially pursued a partnership with a Labuan-based fintech firm to issue what was hailed as prospectively the first-ever blockchain-based digital security to be issued by a Chinese financial institution.  CCB Labuan’s plan had been to use the Ethereum blockchain to issue bonds and raise up to $3 billion in total, starting with a tranche of…

UN blockchain tool aims to improve land registry in Afghanistan’s cities

The United Nations has released a blockchain-powered solution to help the Afghan government manage property ownership issues in the country’s urban areas. According to a Dec. 2 announcement, the U.N. Human Settlements Programme, or U.N.-Habitat, will present its new digital land registry solution to the Ministry of Urban Development and Land in Afghanistan in December 2020. The U.N. first launched its blockchain project for sustainable urban development in Afghanistan in 2019.  Now, with its new blockchain-enabled digital land registry tool, the U.N. wants to help Afghanistan address major challenges in…

One of Pakistan’s four provinces urges federal gov’t to legalize crypto

The assembly of Khyber Pakhtunkhwa, a province in northwestern Pakistan, has become the first legislative assembly to call for changes in the country’s stance towards cryptocurrencies. As previously reported, Pakistan has to date been relatively slow to introduce new frameworks for digital assets and cryptocurrencies. This week’s resolution to the Khyber Pakhtunkhwa Assembly was reportedly introduced on Dec. 2 by Dr. Sumera Shams, a member of the provincial assembly and the centrist political party, Pakistan Tehreek-e-Insaf, or PTI. Fellow PTI member Zia Ullah Bangash, who is also Advisor to the Chief…