What are the money-laundering risks with non-fungible tokens (“NFT’s”) and Decentralized Finance (“DeFI”)?
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What are the money-laundering risks with non-fungible tokens (“NFT’s”) and Decentralized Finance (“DeFI”)?

  Non-fungible tokens (“NFT’s) were born with the advent of Crypto-Kitties in 2017, operating on Ethereum. NFT’s allow specific individual things to be sold and traded on the blockchain. They are both scarce and more importantly can be unique, unlike a fungible commodity such as Bitcoin. Buyers can thus purchase individual NFT’s, and then resell…

The Digital Renminbi and the end of American sanctions hegemony
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The Digital Renminbi and the end of American sanctions hegemony

Money can be divided into two categories: token based money, and account based money. Token based money such as currency notes or gold is like a bearer bond: ownership of the thing is the store of value. In the film Die Hard, when Hans Gruber broke into the Nakatomi Plaza at Christmas, he was doing…

Fincen Unhosted Wallets
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Fincen Unhosted Wallets

Fincen, a department of the US treasury responsible for collecting transactional information, put out a notice of proposed rule making in December: “Requirements for Certain Transactions Involving Convertible Virtual Currency or Digital”:  DEPARTMENT OF THE TREASURY Financial Crimes Enforcement Network 31 CFR Parts 1010, 1020, and 1022 RIN 1506-AB47 Requirements for. This rule would require…

January 2021 – Payments, Janet Yellen, Appointment of Michael Barr as Chief Comptroller of OCC
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January 2021 – Payments, Janet Yellen, Appointment of Michael Barr as Chief Comptroller of OCC

Please see the latest commentary below: PayPod – “Financial crime and the regulatory landscape are two critical things for any payments business or fintech to be aware of. As we begin this new year, this landscape is going to continue to evolve. That evolution is the focus of this podcast episode. Our guest on the…

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Is OCC Comptroller Brian Brooks is driving the big crypto price boom?

  It’s not just hedge funds that are driving the crypto price boom: structural pressure from OCC Comptroller Brian Brooks is also important. As we know from the life of Robert Moses, the post-war New York bureaucrat lionized as the Baron von Hausmann of New York, “bureaucrats” are capable of yielding vast power through relatively…