Crypto Funds in Demand, Institutions See Bitcoin as Alternative Hedge

Grayscale Investments has been gobbling up Bitcoin in recent months, and most of its investors are institutions — but other funds are doing it, too. While the theater world has Waiting for Godot, the crypto sphere has its own drama: Waiting for the Institutional Investor.

Cointelegraph Joins World Economic Forum’s Strategic Intelligence Network

Cointelegraph has partnered with the WEF to integrate our crypto industry news and analysis feed to its Strategic Intelligence network. We are excited to announce that Cointelegraph has joined the World Economic Forum’s Strategic Intelligence contributor network as a content partner, supplying the latest blockchain and cryptocurrency industry news, market analysis and op-eds into its sophisticated and wide-ranging knowledge base.  Launched in 2019, Strategic Intelligence uses a combination of professional and AI-driven analysis to curate insights from think tanks, institutions and media outlets around the globe.

Exclusive: Zoom plans to roll out strong encryption for paying customers

Video conferencing provider Zoom plans to strengthen encryption of video calls hosted by paying clients and institutions such as schools, but not by users of its free consumer accounts, a company official said on Friday.

Pussy Riot and Chilean group join forces against state repression

Activists release manifesto, calling on civilians to set the institutions of the state on fire – ‘in a figurative sense’ Governments around the world are using the coronavirus as an excuse to step up repression and push back civil liberties, warns a new song by Pussy Riot, released alongside a new manifesto written with the Chilean feminist collective Lastesis. Related: Chile security forces' crackdown leaves toll of death and broken bodies Continue reading...

UK court must decide which leader to recognise in Venezuela gold case

UK recognises Juan Guaidó as country’s interim president, arguing president Nicolas Maduro rigged 2018 election A court in London has said that it will need to decide which of Venezuela’s duelling political factions to recognise before ruling on president Nicolas Maduro’s request for the Bank of England to hand over gold the country has in its vaults. For decades, Venezuela has stored gold that makes up part of its central bank reserves in the vaults of foreign financial institutions including the Bank of England, which provides gold custodian services to developing countries.

MIT Group Funding Shows Growing Crypto Trading Interest

An MIT startup focused on providing institutions better access to crypto trading technologies, recently secured millions in funding.

AstraZeneca says it may consider exposing vaccine trial participants to virus

Companies and research institutions are currently working on more than 100 vaccines, about 10 of which are being tested on humans, in a bid to stop the respiratory illness that at present has no treatment and has killed about 350,000 people.

FinCEN Director Blanco Concerned About Bad Actors Hijacking Crypto

The head of the agency that enforces the Bank Secrecy Act and KYC requirements in the US says the agency aims to help crypto innovate responsibly. In a May 27 interview sponsored by Chainalysis, Director of the United States Financial Crimes Enforcement Network (FinCEN) Kenneth Blanco was adamant that the regulator is not the enemy. “This technology belongs to all of us” FinCEN is the governing body that enforces the Bank Secrecy Act in the US, requiring financial institutions to provide know-your-customer (KYC) information.

'Jeffrey Epstein: Filthy Rich' places the emphasis on the survivors' stories

"Filthy Rich" is a maddening tale about how Jeffrey Epstein allegedly preyed upon teenagers and an indictment of a system and institutions that missed opportunities to intervene.

Average Joe Has One Up on the Smart Money, but for How Long?

Retail investors have been outperforming hedge fund managers and institutions, though the verdict is still out on whether the party will last.

Galleries in Europe open doors as lockdown lifts – in pictures

While museums and galleries across the UK remain closed, cultural institutions abroad are beginning to welcome visitors as lockdown eases Coronavirus – latest updates See all our coronavirus coverage Continue reading...

Bitfury Launches Mining Investment Solutions for Institutions

Bitfury is opening the company up to institutional investment, which it says will help family offices and others to diversify their holdings with Bitcoin mining. Bitfury, a mining company established in 2011, announced a partnership program on May 26 that lets institutions invest in Bitcoin (BTC) mining. The program will help family offices and other institutional funds diversify their portfolios into digital asset infrastructure.

Bank of Lithuania Envisions Future Cross-Industry Blockchain Platform

The Bank of Lithuania has revealed ambitious long-term plans to develop its blockchain platform for use beyond the financial services sector. The Bank of Lithuania (BoL) has revealed ambitious long-term plans to develop its blockchain platform for use beyond the financial services sector. On May 26, the central bank’s blockchain-based sandbox, LBChain project, completed its third and final stage.  In a wrap-up meeting this morning, BoL’s blockchain project manager Andrius Adamonis said that the bank ultimately envisions moving beyond LBChain to develop a future “LTChain” — short for Lithuania Chain —  that would have non-financial applications. This future LTChain would see the bank cooperating with other public institutions and seeking to attract start-ups from non-financial sectors, including energy, healthcare and transportation. Bank of Lithuania plans to launch LBChain in Q4 2020 In the short term, Adamonis revealed that the central bank has plans to launch LBChain in the fourth quarter of this year, as well as to finalize its commercial procurement with the fintechs and service providers currently involved in the LBChain project. In its earliest stage, the BoL had selected Deloitte, IBM and Tieto to work with fintechs on developing and testing their solutions.

California Issues Guidelines For Safe Reopening Of Houses Of Worship

Individual counties will ultimately decide when to permit religious institutions to reopen.

Goldman Sachs to Host Conference Call on Crisis, Crypto, and Inflation

Goldman Sachs will soon host a conference call discussing the impacts of the current economic crisis on Bitcoin, gold, and inflation. Goldman Sachs will host a conference call on May 27 titled US Economic Outlook & Implications of Current Policies for Inflation, Gold, and Bitcoin. On May 23, Mike Dundas, the founder of crypto media outlet The Block, posted a screenshot of the invitation for the call, revealing that the event will be hosted by Sharmin Mossavar-Rahmani, the CIO of Goldman’s Investment Strategy Group, alongside Harvard economics professor Jason Furman, and Goldman Sachs’ chief economist Jan Hatzius. Goldman Sachs appears to be warming to Bitcoin The news has been heralded as a milestone for the institutional adoption of crypto assets, appearing to signify a complete u-turn on the part of Goldman’s Mossovar-Rhami — who stated that cryptocurrencies fail as mediums of exchange, stores of value, and units of measurement, in August 2018. For many years, the crypto community has appeared dedicated to willing cryptocurrency engagement from Goldman Sachs into existence, with false rumors that the financial giant planned to open a Bitcoin (BTC) trading desk circulating at frequently throughout the short history of cryptocurrency. Institutions increasingly embrace crypto Goldman Sachs’ conference call comes amid other signs that many top financial institutions may be warming to crypto, with JPMorgan providing banking services to US exchanges Coinbase and Gemini since April. At the start of May, billionaire and hedge fund founder, Paul Tudor Jones, revealed that he is purchasing Bitcoin as a hedge against money printing-induced inflation. The 65-year-old revealed that his Tudor BVI hedge fund is hodling “a low single-digit percentage” of its total assets in BTC futures, stating; “The best profit-maximizing strategy is to own the fastest horse [...] If I am forced to forecast, my bet is it will be Bitcoin.”

Unite calls for renewed HSE spot checks to reduce Covid-19 risk

Union urges ministers to bring back health and safety visits for workplaces such as shops and pubs Coronavirus – latest updates See all our coronavirus coverage Ministers should rip up laws that were designed to reduce red tape but which are putting workers and their families at risk of Covid-19 infection, the Unite trade union has said. The UK’s largest union called on the government on Sunday to restore the power of the Health and Safety Executive (HSE) to perform spot checks on social care institutions, shops and pubs.

Key cultural institutions under threat: ‘If this goes on much longer, it’s hard to imagine any theatre surviving’

National Theatre, RSC and Royal Opera House warn they are facing financial collapse without extra government assistanceThe National Theatre, the Royal Shakespeare Company and the Royal Opera House are facing financial collapse because of the pandemic and are jointly calling upon the government to throw out a lifeline. “It is really serious now,” said Greg Doran, the artistic director of the RSC.

What next for the arts? Rufus Norris and Maria Balshaw swap notes

The boss of the National Theatre and director of Tate Gallery discuss how culture has been hit by – and responded to – Covid-19, and what happens post-lockdown See all our coronavirus coverage here At 2.30pm Rufus Norris, director of the National Theatre and Maria Balshaw, director of Tate art museums and galleries, convene on screen – the new abnormal – for a conversation about the Covid-19 crisis and how they plan to help their institutions survive it.

Dozens of Chinese companies added to US blacklist in latest Beijing rebuke

The United States said on Friday it would add 33 Chinese firms and institutions to an economic blacklist for helping Beijing spy on its minority Uighur population or because of ties to weapons of mass destruction and China's military.

Dozens of Chinese companies added to US blacklist in latest Beijing rebuke

The United States said on Friday it would add 33 Chinese firms and institutions to an economic blacklist for helping Beijing spy on its minority Uighur population or because of ties to weapons of mass destruction and China's military.

Coronavirus Live Updates: Trump Urges Reopening of Houses of Worship as C.D.C. Suggests Limits for Them

Religious institutions are operating under a patchwork of restrictions.

High noon at high table: Dean of Christ Church, Oxford, refuses to resign

All academic institutions like to think of themselves as a cut above.

CDC publishes new pandemic guidance for religious worship

Religious institutions should provide soap and hand sanitizer, encourage the use of cloth masks and clean their facilities daily if they want to open while coronavirus is still spreading, the US Centers for Disease Control and Prevention said in newly released guidance Friday.

Trump deems houses of worship 'essential' amid pandemic, but has no power to force reopening

President Donald Trump announced Friday that his administration is issuing guidance deeming places of worship "essential" during the coronavirus pandemic, calling on governors to reopen religious institutions for services.

Bitcoin trading by institutions doubled this year on Binance

Institutional volume on exchanges, such as Binance and Huobi doubled—and even quadrupled in some cases—during the first quarter of 2020.

Global Central Banking Think Tank Launches Digital Monetary Institute

A global think tank for central banking, OMFIF, has announced the launch of its Digital Money Institute, aimed at bridging the gap between digital currency and traditional banking. The Official Monetary and Financial Institutions Forum (OMFIF), an independent global think tank for central banking and economic policy, announced the launch of its Digital Monetary Institute earlier this month. The Institute intends to build bridges between the worlds of digital currencies and traditional banking, and has a focus on payment instruments in wholesale and retail markets, and central bank digital currencies (CBDC). Central banks’ interest in digital currency is growing The OMFIF itself has already been publishing in-depth reports on digital currency and CBDCs since 2018.

'Hundreds of millions' in bogus jobless benefits paid out to imposters

Washington officials said the state is working with federal law enforcement, financial institutions and the US Department of Labor to investigate the fraud and try to recover the money.

Myanmar Central Bank Claims Crypto is Banned, Users Disagree

Myanmar’s central bank claims crypto traders can be fined or imprisoned, but there are doubts about whether legislation backs this up. The Central Bank of Myanmar (CBM) announced that it does not recognize cryptocurrencies as an official currency and anyone caught trading digital assets can be imprisoned or fined. But local crypto enthusiasts dispute whether the pronouncements have any force in law.  Reported by the Myanmar Times, the country’s central bank issued an announcement on May 15 stating that financial institutions are not allowed to accept or facilitate transactions using digital currencies.  The bank referenced cryptocurrencies including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) and Perfect Money (PM) being traded from personal Facebook profiles as subject to regulations enforced by the CBM.

How will universities adapt to the coronavirus pandemic?

Institutions scramble to get lectures online as lockdowns lock out students.

Metropolitan Museum Of Art Announces Tentative Reopening Plan

The Met is the largest museum so far to outline such a plan, as cultural institutions grapple with reopening.

Powerful Retail Crypto FOMO Spikes As Institutions Take Pause

Bitcoin price is trading just below the key price of $10,000 said to be a FOMO trigger for a major crypto bull rally, but retail FOMO is already spiking according to data.

China expected to keep lending benchmark unchanged - analysts

China is expected to stand pat on its benchmark lending rate on Wednesday, after the central bank kept medium-term funding cost for financial institutions steady last week, a Reuters survey of traders and analysts found.

Tuur Demeester: Bitcoin Price Above $50K ‘Not Insane at All’

Describing the rush to buy Bitcoin as a “land grab” for institutions, Tuur Demeester sees the cryptocurrency rallying to $50,000-$100,000. Bitcoin investor and research analyst Tuur Demeester doesn’t see the coin going below $6,000 after the rewards halving, with a price of at least $50,000 certainly possible in the future. In a video posted to crypto research firm Messari’s YouTube channel on May 18, Demeester said Bitcoin (BTC) was “back in a bull market” following the halving, with a bottom in the $3,000-$4,000s already past — referring to the March crypto bloodbath.  The analyst went on to speculate as to how the recent inflationary measures by the Federal Reserve could impact the price of cryptocurrency.

Austrian Bank Raiffeisen Works on National Digital Currency Pilot

Raiffeisen Bank International is extending collaboration with Polish-British fintech Billon for a new form of DLT-based national currency tokenization. While global jurisdictions are progressing with central bank digital currencies, private institutions also work on digitizing national currencies.

Five organisations in the race to develop a coronavirus vaccine

Moderna, CanSino, Oxford University, Imperial College London and Inovio are all making progress Coronavirus – latest updates See all our coronavirus coverage Many companies and institutions are in a race to develop a coronavirus vaccine.

Bitcoin futures exchange Bakkt grows its institutional client list

The Bitcoin futures exchange now provides custody services for 70 clients, and has partnered with insurance broker Marsh and two other financial institutions.

Accel, Coinbase Join $17M Pre-Seed Round for Institutional Crypto Trading Firm FalconX

The crypto trading firm pitched investors on the basis that its best trade execution platform offers institutions a solution to the wash trading that is rife in the space.

International Museum Day: Which museums around the world have reopened?

As the world celebrates International Museum Day, and with Covid-19 lockdown measures beginning to ease, top institutions are reopening their doors -- with new restrictions including mask-wearing and social distancing.

Record CME BTC Open Interest Shows Institutions Bullish on Bitcoin Price

Bitcoin options volume at CME rose 1000% this month as institutional investors built short-term bullish positions, but will BTC’s spot price rise? Bitcoin’s (BTC) options markets are finally taking off at CME.

Fed says around 600 smaller banks tapped PPP facility in its first days

Around 600 banks, most of them small community institutions, tapped the Federal Reserve's Paycheck Protection Program facility for about $30 billion of loans as of May 6, the US central bank reported on Saturday in its first detailed disclosure under the new program.

Ripple Settlements Are Coming to Japanese ATMs

SBI Holdings plans to integrate Ripple-powered settlement across Japanese ATMs. Ripple partner and investor, SBI Holdings, announced plans to integrate Ripple-powered settlements across ATMs in Japan. The news was revealed in SBI’s latest financial report, announcing a plan to integrate the Ripple-powered settlements platform MoneyTap with ATMs run by various banks across Japan. The integration is intended to provide consumers with easier access to funds at ATMs regardless of their banking affiliation. SBI to integrate Ripple tech across Japanese ATMs SBI claims that integrating MoneyTap will also allow banks to reduce the costs incurred through operating an ATMs, stating: “Currently, each bank has an ATM with its own bank app, but with a common web app, the same ATM may be used as its own jointly operated multi-bank ATM.” MoneyTap launched in October 2019 on iOS and Android, facilitating instant money transfers via QR Code or phone number. During September 2019, SBI chief executive and Ripple board member Yoshitaka Kitao stated that the firm was planning to utilize XRP for remittance in the future. Sygnum Bank adds XRP support In other news regarding Ripple adoption, self-described digital asset bank Sygnum has launched support for XRP trading, custody, and credit services. Sygnum co-founder, Mathias Imbach, stated that he has been impressed by Ripple’s global traction — emphasizing that more than 300 financial institutions have joined the RippleNet payments network. “The company’s XRP-based solutions address the pain points of the fast growing USD 700 billion global remittance market,” added Imbach. Despite Ripple gaining payment market share, XRP has ranked among the weakest performing crypto assets year-to-date among the top ten by capitalization.

Fed says around 600 smaller banks tapped PPP facility in its first days

Around 600 banks, most of them small community institutions, tapped the Federal Reserve's Paycheck Protection Program facility for about $30 billion of loans as of May 6, the US central bank reported on Saturday in its first detailed disclosure under the new program.

Is PHE facing the chop? Boris Johnson tells Tory MPs he plans post-pandemic review of 'institutions'

The Prime Minister informed a meeting of the 1922 Committee of backbench Conservatives that he was planning a review of 'a number of institutions' once coronavirus is beaten.

Institutional Crypto Trading Platform Raises $17M Despite Economic Slowdown

Amid the COVID-19 slowdown, institution-facing liquidity aggregator FalconX has raised $17 million from top VCs in the crypto space. Institution-facing liquidity aggregator, FalconX, has announced a $17 million fundraising round including participation from Coinbase Ventures, Accel, and a venture capital firm associated with FMR LLC — the parent company of Fidelity Investments. FalconX will use the funds to scale its infrastructure, introduce new products, and expand its trade execution engine. Institutional liquidity aggregator raises $17m FalconX trades as principal, offering institutions access to both lit pools — exchanges, and dark pools — including market makers, miners, and proprietary trading firms, through a single counterparty. Speaking to Cointelegraph a FalconX representative stated that the firm uses “data science [to] derive fixed, time-guaranteed quotes through market or limit orders over highly dynamic exchange order books” spanning multiple liquidity pools. The spokesperson added that data science is employed to “compensate for poor fill rates, high slippage, and unreliable infrastructure” to minimize the risk of slippage. FalconX processes over $7B in volume in 10 months FalconX was founded in 2018 by Raghu Yarlagadda and Prabhakar Reddy after they met at Harvard Business School during the same year. After building and testing the platform from May 2018 through February 2019, FalconX was launched, and has attracted $7 billion volume since July 2019. The spokesperson stated that FalconX has attracted more than 100 institutional clients worldwide, “including hedge funds, proprietary trading firms, payment gateways, over-the-counter trading desks, cryptocurrency miners, VC funds, and exchanges.” The firm now operates offices in Malta, The United States, and Bengaluru, India. FalconX avoids Indian market despite changing regulations Despite having an office in Bengaluru, FalconX does not serve clients based in Ind

CoinDesk 50: Bakkt – Financializing Bitcoin

Bakkt's eagerly awaited debut offers new ways for institutions to get exposure to bitcoin.

Wall Street is Coming to Bitcoin: Here’s Why Crypto’s Institutional Market Just Saw a Massive Turning Point

Things ramped up a gear today as Bitcoin derivatives platform, Deribit announced full integration of the ClearLoop custody and settlement solution for institutions.

Bequant Launches Crypto Prime Brokerage to Compete for Institutional Money

London-based Bequant becomes one of only a few companies in crypto to offer a full range of prime brokerage services for hedge funds.

Polymath Eyes June Testnet Launch for New Blockchain Designed for Security Tokens

The firm is soon to launch the first test network for its new blockchain designed to bring new safeguards for financial institutions working with security tokens.

Institutional Interest in Bitcoin to Keep Rising After BTC Halving

Institutions continue to show interest in Bitcoin and digital assets amid the third Bitcoin halving, data shows. Having recently gone through the third halving, one of the most important events in the ecosystem, Bitcoin (BTC) continues to establish itself as a new asset class and a worthy contender to gold as a new store of value for the digital age.

CoinDesk 50: Silvergate – The Bank That Wasn’t Scared

Silvergate was among the first US financial institutions to embrace the crypto industry, and it's not letting go.

XRP Can Replace Cross-Border Behemoth Swift, Says Ripple Founder Chris Larsen

Ripple founder Chris Larsen says the San Francisco startup is positioning XRP to replace Swift, the legacy international payments network used by more than 11,000 banks and financial institutions.

Asian Countries Leading the Way for FATF Travel Rule

South Korea and Singapore may have the best regulations around compliance with the Financial Action Task Force guidelines. CoolBitX Founder Michael Ou believes regulators in Asia are leading the way when it comes to compliance with the Financial Action Task Force (FATF) travel rule, which is due to be implemented in June. The startup has developed a solution to the travel rule, called Sygna Bridge, which allows exchanges to communicate the identities of the senders and receivers of each transaction. On May 7 it announced it had conducted a series of cross-border transfer tests that demonstrated Sygna Bridge’s effectiveness in complying with the FATF guidelines by verifying transactions against the names of known terrorists and drug dealers.  Singapore and South Korea Ou told Cointelegraph that in his opinion Singapore and South Korea have the best regulatory oversight in the lead up to the travel rule being reviewed in a few weeks.  “Asia is on the path to change the [crypto] industry and may provide a blueprint for the rest of the world,” he said, noting Singapore’s Payment Services Act and South Korean legislation amending the Act on Reporting and Using Specified Financial Transaction Information, as examples of regulators who were prepared for the travel rule. As the world’s third-largest economy, Japan has seen major financial institutions such as Nomura, SBI Holdings, and Rakuten making significant investments into the Japanese crypto market.

China hacking poses 'significant threat' to US Covid-19 response, says FBI

Beijing dismisses as slander US claims that any organisation researching vaccines should assume they are a target Coronavirus – latest updates See all our coronavirus coverage Organisations conducting research into Covid-19 may be targeted by computer hackers linked to the Chinese government, according to the FBI and the Department of Homeland Security. Neither agency cited any specific examples, but warned on Wednesday that institutions and companies involved in vaccines, treatments and testing for the coronavirus should take additional security measures to protect data and be aware of the potential threat.

Coronavirus live news: Trump 'surprised' by Fauci's reopening warnings as WHO says Covid-19 may never go

Fauci’s comments ‘not acceptable’, says Trump; Moscow ascribed 60% of April coronavirus deaths to other causes; virus in every African country; follow the latest updates EU bid to salvage summer with distancing in hotels Brazil and Mexico record deadliest day from Covid-19 ‘10 days of battle’: Wuhan draws up plan to test 11m people Australia coronavirus updates – live Coronavirus latest: at a glance 1.09am BST Doctors in Italy have reported the first clear evidence of a link between Covid-19 and a rare but serious inflammatory disorder that has required some children to undergo life-saving treatment in intensive care units. The mysterious condition emerged last month when NHS bosses issued an alert to doctors after hospitals admitted a number of children with a mix of toxic shock and symptoms seen in an inflammatory disorder known as Kawasaki disease. Related: Italian doctors find link between Covid-19 and inflammatory disorder 1.01am BST Organizations conducting research into Covid-19 may be targeted by computer hackers linked to the Chinese government, according to the FBI and the Department of Homeland Security.Neither agency cited any specific examples Wednesday, AP reports, but they warned that institutions and companies involved in work on vaccines, treatments and testing for the novel coronavirus should take additional security measures to protect data and be aware of the potential threat. “China’s efforts to target these sectors pose a significant threat to our nations response to Covid-19,” said a statement from the US Cybersecurity and Infrastructure Security Agency.

Child sexual abuse in Muslim communities is 'underreported', say Britain's big Islamic authorities

The Independent Inquiry into Child Sexual Abuse (IICSA) is looking at how institutions have failed to protect children from sexual abuse and to help ensure better safeguarding for children in the future.

AP Exclusive: CDC docs stress plans for more virus flareups

Advice from the nation’s top disease control experts on how to safely reopen businesses and institutions in the midst of the coronavirus pandemic included detailed instructive guidance and some more restrictive measures than the plan released by the White House last month.

Institutions are coming to Ethereum as DeFi works to make them irrelevant

Institutional investors can now trade Ether futures on a regulated US exchange, ErisX, for the first time.

SBI Holdings CEO: Ripple Partners Could Help Pandemic Supply Chain

SBI Holdings is proposing Ripple partner with multinational corporations to increase transparency and traceability across supply chains. Yoshitaka Kitao, Chief Executive Officer (CEO) of Japanese financial giant SBI Holdings, has proposed Ripple partner with multinational companies in addition to financial institutions.

Global Fintech Firm Launches Security Tokenization Platform

Fintech firm GSX Group says their securities tokenization platform is phase one of its global security token ecosystem. Global Stock Exchange Group, a Gibraltar-based fintech firm that deploys blockchain solutions to drive interoperability between the cryptocurrency and traditional markets, launched its Grid tokenized securities platform in Estonia on May 7. The Grid facilitates the tokenization of new and existing debt securities and funds.

The White House has reportedly buried detailed CDC guidance for reopening specific institutions

The Centers for Disease Control and Prevention created a 17-page report with detailed step-by-step guidance for local leaders, business owners, educators, clergy, and others to draw on when deciding how to lift coronavirus mitigation measures.

Hong Kong stock exchange CEO Li to step down next year

Charles Li will step down as head of the Hong Kong stock exchange by October next year, the bourse said on Thursday, kick-starting a search for a successor with his ability to balance the wishes of international institutions, local players and Beijing.

Inmates at child jail in Kent spending just 40 minutes a day out of cells

Inspections of young offender institutions find inconsistencies in measures to prevent spread of Covid-19 Coronavirus – latest updates See all our coronavirus coverage Teenage inmates in a children’s jail are currently spending 40 minutes a day out of their cells due to the restrictive regime in place to tackle the spread of the coronavirus, an inspection report has revealed. The usual regime in prisons has been suspended, meaning inmates can no longer take part in recreational activities, visit libraries, go to worship and can not receive visits from friends or family.

Coronavirus: Young offenders out of cells for 40 minutes a day

Inspectors raise concerns about the impacts of coronavirus on children in institutions.

Ransomware Hackers Threaten to Release Credit Card Data From Costa Rican Bank

A group of ransomware hackers has reportedly stolen sensitive information from a major Costa Rican state-owned bank, Banco BCR. A group of hackers dubbed Maze claims to have compromised the infrastructure of Banco BCR, a Costa Rican state-owned bank, and is now threatening to leak millions of credit card numbers. On April 30, Maze claimed that it has scoped out the bank in August 2019: “According to Financial Institutions Protocol this bank had to notify other institutions about the security breach case.

State-backed hackers targeting COVID-19 responders, warn US, UK

US, UK officials did not say which countries were responsible for the attacks on healthcare and research institutions.

Brazil’s Bolsonaro denies judge’s request to see negative coronavirus tests

It marks the latest development in a battle between the president and democratic institutions.

Bitcoin Flashes Grave Bearish Divergence Just as Institutions Flip Long

Bitcoin’s intense upwards momentum has stalled as the cryptocurrency enters a firm bout of consolidation within the upper-$8,000 region.

Spanish Multinational Bank BBVA to Explore Zero-Knowledge Proofs

BBVA and a state-backed research center in Spain have launched a partnership to explore advanced cryptography for financial services. The Banco Bilbao Vizcaya Argentaria (BBVA), a multinational bank headquartered in Spain, has announced a partnership with Madrid-based research center IMDEA Software Institution to explore zero-knowledge proofs (ZKPs) alongside other “advanced cryptographic techniques.” Both entities will freely utilize each other's technologies and research to drive innovation as quickly as possible.  BBVA plans to offer products based on cryptography The partnership will see the institutions research a number of applications for cryptography in the context of the financial sector, including ways to ensure that data shared within a network is not vulnerable to exposure to third parties. A May 4 press release reveals that the research will also look at “the development of viable prototypes that can be incorporated in the digital products and services offered to BBVA customers.” Until recently, these cryptographic techniques were only of interest on a theoretical level,” said IMDEA’s Antonio Faonio.

Indian Crypto Exchanges Seek Tax Clarity From Central Bank

India’s crypto exchanges are demanding that the country’s central bank provide clear guidelines regarding taxation. Following the Supreme Court’s reversal of the Reserve Bank of India’s ban on financial institutions providing banking services to crypto firms, the country’s digital asset exchanges are seeking clarity on their taxation obligations. On May 4, India Times reported that several of India’s crypto exchanges collectively penned a letter to the RBI claiming that the current absence of regulatory clarity has led to banks continuing to deny services to exchanges dealing with crypto assets.  The report notes that the exchanges have also reached out to India’s high court regarding the matter. Indian crypto exchanges want GST clarification In particular, the exchanges want to know if their operations will be classified as dealing with goods, currencies, commodities, or services in order to ascertain whether they are subject to the country’s Goods and Services Tax (GST). Praveenkumar Vijayakumar, the chief executive of crypto exchange Belfrics Global, stated: “If the digital assets are not exempted from GST, the digital currency exchanges in India are going to have a standoff with the tax authority.” “In the wake of the recent Supreme Court ruling, we have also approached the RBI for clarity on this, as if we pay GST on the whole transaction, then most platforms would not be able to survive,” he added. Sidharth Sogani, the CEO of digital asset research firm Credbaco Global, asserted that “the RBI was supposed to issue a new circular directing the banks to start banking relationships again with cryptocurrency exchanges and businesses” after the Supreme Court overturned the central bank’s ban. However, Sogani claims that many banks are denying having received any notification from the RBI when approached by crypto exchanges looking to do business. India’s population under-represented in crypto markets In a recent

New Role at Ripple Targets Wall Street Institutions, Cryptocurrency Traders and XRP Enterprises

Ripple is creating a new role to expand its presence among Wall Street institutions and improve its narrative in the crypto community.

Coronavirus disruption of elite universities boosts community college appeal

Institutions nationwide have been considering the continuation of online learning into the fall semester and newly-committed students are concerned about losing the experience while still paying for it.

Stellar Foundation and Elliptic Ink Exclusive Deal

The Stellar Development Foundation unveiled a partnership with Elliptic, adding transparency capabilities for Stellar-based businesses. The Stellar Development Foundation, or SDF, a non-profit tasked with fostering Stellar's network growth, unveiled new ties with crypto risk-management operation, Elliptic, on April 30.  The partnership sees the SDF calling on Elliptic's crypto risk expertise for businesses and financial institutions based on Stellar blockchain, SFD director of communications Lauren Thorbjornsen told Cointelegraph in an April 30 email.  "These services are live and available for businesses on the network today as Elliptic launched the world’s first Stellar network transaction monitoring system," she said. What does it all mean? Essentially, Elliptic now brings Stellar-based businesses the ability to track suspicious and fraudulent activities, such as transactions, adding transparency for criminal prevention and regulatory requirements.  "The integration also enables the rapid addition to Elliptic’s platform of other Stellar-based assets such as stablecoins supporting the wider ecosystem," Thorbjornsen added. Elliptic adds wallet examination and XLM tracking potential to Stellar's camp, an April 30 statement from the SDF detailed. The move helps regulation? Over the last several years, the blockchain industry has seen an influx of regulation, particularly in the US As governing bodies expand customer verification requirements, related businesses in the sector must also equip themselves with the right tools to facilitate those requirements.  Stellar sees the collaboration as a way to stay on top of regulation that is sure to continue across the industry in the coming days.

Caitlin Long on Banking Backdrop, Stifled Regulation to Serve Crypto

Speaking to Cointelegraph during Virtual Blockchain Week, Caitlin Long predicted an oncoming wave of institutional investment. During Virtual Blockchain Week, Cointelegraph spoke with Caitlin Long — the founder and CEO of the upcoming “crypto bank” Avanti Bank & Trust as well as the driving force behind regulatory changes in the state of Wyoming for allowing financial institutions to handle both crypto assets and fiat currencies. A Wall Street veteran, Caitlin Long ran Morgan Stanley’s pension solutions for a decade after holding a number of senior roles at Credit Suisse prior to transitioning to focus on the blockchain and crypto sector. Caitlin shared her perspective on the impact that the lack of crypto-friendly financial institutions has had on the development of the digital asset ecosystem, the intersection between mainstream and decentralized finance, and her prediction that major institutional investors will soon enter the crypto space. Cointelegraph: How does a lack of access to financial services impact the development of the crypto ecosystem? Caitlin Long: It was the lack of traditional banking services that actually prompted the creation of stablecoins. Nec