Coinbase Hook up with Barclays, IMF on the Dark Side and Confusion in Cambodia

Coinbase and Barclays have reportedly reached a deal  in which Barclays have granted Coinbase a UK Bank account which will make crypto transactions far easier, quicker and cheaper, and is tied to an FCA issued E-money license which essentially passports the deal further afield to the 23 countries within the European Union. A surprising but welcome move after Lloyds (and others) announced recently that it was banning the purchase of cryptocurrencies for credit card users.

Crypto exchange behemoth Binance have officially announced their own independent Binance Chain in a bid to accommodate both centralized and decentralized exchanges, improve speed, performance, ease of use and liquidity.

Christine Lagarde head of the International Monetary Fund (IMF) has published a post commenting on the darker side of cryptocurrencies and their use for illicit purposes. Whilst the mainstream media are largely only reporting the negatives – the statement is well balanced and essentially iterates the need for balanced regulation citing the shutdown of AlphaBay last year for illegal trading and money laundering.

Confusion afoot in Cambodia of all places – The Government officially blocked cryptocurrency transactions last year after labelling them “a new type of fraud” and banned ICO’s at the time (although not the use of cryptocurrencies). The bans are still in place as the Cambodian Government gear up to launch their own cryptocurrency later this month. Quite how that will work out remains to be seen. Undoubtedly not the first and unlikely to be the last regulatory conflict the crypto world will have to endure.

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Created: Wednesday, March 14, 2018

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