The lack of a federal regulatory framework will likely limit U.S. bank participation in digital assets and the blockchain in the near-term Fitch Ratings says. U.S. banks have generally taken an “asset-light approach to digital assets”. This includes offering custody and collateral settlement via blockchain networks and issuing stable coin-based payment solutions. BNY Mellon recently began accepting bitcoin and ether from customers after receiving approval by the New York Department of Financial Services (NYDFS). For banks it’s about security, customers … Continue reading “Fitch Says Lack of Crypto Regulation Limits Further U.S. Bank Participation”
Regulators Warn of Machine Learning, Shadow Banking and Artificial Intelligence
The Group of 20 Economies (G20) financial regulator, the Financial Stability Board (FSB) warned about replacing humans with artificial Intelligence (AI) and Machine Learning. In a world of Ponzi, Fiat and shadow banking we have a new layer upon us.