Fintech Daily Briefing

Fintech Daily Information Briefing on [June 17, 2021]

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The following is the Fintech Daily Information Briefing on [June 17, 2021] recommended by recordtrend.com. And this article belongs to the classification: Fintech Daily Briefing.

[1]. BIS Nordic innovation center in Stockholm

On June 16, 2021, the bank for International Settlements (BIS) announced the cooperation with the National Bank of Denmark, the Central Bank of Iceland, the Bank of Norway and the Central Bank of Sweden to establish the Nordic center of bis Innovation Hub in Stockholm. Since its launch in 2019, BIS innovation hub has been located in Hong Kong, Singapore and Switzerland. It is reported that the current work of bis Innovation Hub mainly covers six aspects: regulatory technology, next generation financial market infrastructure, central bank digital currency, open finance, network security and green finance.

[2]. FTC of the United States ushers in a new leader, and the good days of technology giants are coming to an end?

On June 15, 2021, Lina Khan was sworn in as chairman of the Federal Trade Commission (FTC). Lena Khan graduated from Williams College and Yale Law School, and was an associate professor of law at Columbia University before serving as chairman of FTC. Previously, she served as legal adviser to the U.S. Judicial Council’s Sub Committee on antitrust, commercial and administrative law. For years, Lena Khan has criticized technology giants for being too powerful, and has been seen as one of the leaders of the antitrust movement.

[3]. Establishment of a working group on digital assets in the Financial Services Committee of the US House of Representatives

Previously, the Financial Services Committee of the U.S. House of Representatives set up special working groups on fintech and AI. On June 16, 2021, the Committee announced that it had set up a working group on digital assets. In the future, the working group on digital assets will discuss issues such as cryptocurrency regulation, the use of blockchain and distributed ledger technology, and the development of digital currency by the US central bank.

[4]. Nobel laureate Steve Hanke: using bitcoin could completely destroy El Salvador’s economy

Steve Hanke, an economics professor at Johns Hopkins University and Nobel laureate, warned that El Salvador’s recent adoption of bitcoin as legal tender could “bring about a complete collapse of the economy.”. In an interview with kitco news on June 15, Hanke pointed out that bitcoin holders from places such as Russia can now target El Salvador to cash their positions – essentially taking the country’s dollars. It is reported that Hanke previously described bitcoin as a speculative asset with “zero basic value”. In April this year, he tweeted: “cryptocurrency is the future of currency, but bitcoin is not.”

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