11-17-2017: JP Morgan Money Laundering

Coinbase/GDDAX Update on Segwit2x
Coinbase has released an update on the Segwit2x hard fork. If support for the fork remains at current levels, or decreases, Coinbase will not support withdrawals or trading on the Bitcoin2x network. If transactions are being confirmed at a reasonable speed, and miner support is strong, Coinbase will allow customers to withdraw Bitcoin2x. Coinbase does not believe SegWit2x will survive.

JP Morgan – Sanctioned for Money Laundering
The Geneva-based subsidiary of JP Morgan was sanctioned in June by the Financial Market Authority Finma for violating the Money Laundering Due Diligence. But JP Morgan tried to prevent the publication of the judgment. Tech entrepreneur Andreas Antonopoulos commented on JP Morgan’s case of fraud during a Q&A session at the SingularityU Canada Summit.

Korean Hyosung Adds Bitcoin Support to ATM’s
The Korean ATM manufacture Hyosung has added support for Bitcoin purchasing to it’s ATMs. Bitcoin purchases will produce a paper receipt with a public and private key, with funds accessible via scanning a QR code. Bitcoin exchange for cash will be coming soon to the ATM’s.

Hong Kong/Singapore Trade Collaboration
A Business Times report states that more than 20 global financial institutions will participate in the blockchain based trade network called the Hong Kong Trade Finance Platform (HKTFP) expected to launch by early 2019. The Hong Kong Trade Finance Platform (HKTFP) is a collaboration between the Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Singapore (MAS), aimed to digitize trade finance using distributed ledger technology (DLT). The DLT pilot is expected to set new global standards for the industry and aims to trace global trade flows between Singapore and Hong Kong. [Segment by Coindesk]

Ethereum Casper Ready To Be Tested
In today’s Ethereum Core Developer Meeting Ethereum Founder Vitalik Buterin suggested that the Casper proof-of-stake protocol is ready to be tested and could provide a security boost when testing code across clients.

Visa Commercial B2B Blockchain Platform
Visa’s B2B Connect platform is now processing bank-to-bank test transactions and is planned for commercial launch in mid-2018. The blockchain based platform is designed to give financial institutions a secure, fast and predictable way to process corporate cross-border B2B payments.

NOTE: This is an emergent and evolving highly technical space. You should understand how involvement in this space impacts you and acknowledge all risks before participating or implementing any recommendations.

One Comment

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