A Strong Year for Ripple, a Weak One for Deutsche Bank: Best of the Week

Australian banks reject cryptocurrency

Customers have been complaining of blocked transactions and frozen accounts, leading one cryptocurrency exchange to restrict transactions in Australian dollars.

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The banks' responses were varied. National Australia Bank said: “While we don’t support unregulated currencies, NAB does not deny the right of individual customers to buy virtual currencies.”

GDPR and MiFID II

In Europe, MiFID II came into effect on the 3rd of January, and the General Data Protection Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term will become active on the 25th of May. GDPR sets in stone the right of people to know how their data is being used, and the right to be request that information be deleted.[gptAdvertisement]

Both bodies of rules are compulsory, and sometimes contradictory.

The flippening

On Monday we wrote about Ripple, the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term-based payment system that is taking the world by storm.

Already in use by financial institutions, the Ripple cryptocurrency XRP has shot up in value, overtaking Ethereum and approaching the value of Bitcoin. Could we be seeing the flippening soon?

Another brokerage goes crypto

Liteforex became the latest company to jump on the cryptocurrency bandwagon, now offering deposits and withdrawals with six different coins.

Bitcoin, Bitcoin Gold, Bitcoin Cash, Litecoin, Monero, and Ethereum will now be accepted by the brokerage.

Visa cuts off Bitcoin cards

Several Bitcoin debit card issuers suspended their services on Friday as Visa terminated the operations of Gibraltar-based card issuer WaveCrest.

VISA said that it terminated the operations due to non-compliance with membership regulations.

Deutsche Bank tanks

On Saturday, Deutsche Bank released its full year results. Low client activity, tax laws, and extensive criminal investigations have all taken their toll - revenues in 2017 were down by 22% when compared to the previous year.

The bank was originally scheduled to report its results in February, but ‎German regulations require that companies report significant information that ‎could move the stock price as early as possible.‎