cryptocurrency

Fintech Beat explains how open banking is poised to revolutionize financial services
Open Banking 101, Ep. 28

Open banking is shaking up financial experiences for customers across the globe (iStock).

Open banking is set to shake up financial experiences for customers across the globe, enabling customers to allow third parties to access financial information needed to develop new apps and services. Fintech Beat sits down with the head of policy at Plaid, a unicorn fintech sitting in the middle of the revolution, to discuss the process of information sharing and how regulation shapes it.

Libra’s regulatory hurdles appear taller after House hearing
Still to be decided: How the cryptocurrency would be regulated

Libra, known as a stablecoin, would be backed by a basket of dollars, euros and other traditional currencies called the Libra Reserve. (iStock)

Facebook CEO Mark Zuckerberg provided only a few additional details about the company’s proposed cryptocurrency to a House Financial Services Committee on Oct. 23 that generally didn’t like what it heard. 

Zuckerberg said Facebook wouldn’t proceed with the proposed Libra until it had satisfied regulators’ concerns. That pledge and the harsh criticism from lawmakers on both sides the aisle appears to narrow, if not eliminate, the company’s path to approval, at least for a project as sweepingly ambitious as Libra is.

Fintech Beat and FRT team up to cover all things fintech in DC
Fintech Beat, Ep. 27

An attendee at Fintech Week 2019 asks a question during a panel. (Photo by CQ Roll Call)

Cryptocurrencies complicate effort to stop opioid dealers
Law enforcement ramping up efforts to trace, halt use of digital currencies in illegal drug trade

House Republican leaders hold photos of people from their district affected by the opioid epidemic during a news conference at the Capitol Visitor Center on Wednesday June 13, 2018. (Sarah Silbiger/CQ Roll Call file photo)

The fight against the opioid crisis is facing a growing problem: Criminals are getting better at hiding the cryptocurrency transactions they use to buy drugs online.

The opioid crisis, which claims more than 100 lives a day, has been fueled partly by cryptoassets, but law enforcement is ramping up efforts to trace and halt their use in the illegal trade.

Brad Garlinghouse speaks to Fintech Beat about all things crypto
Fintech Beat, Ep. 25

Brad Garlinghouse (left), CEO of Ripple, sits with Chris Brummer, co-founder of Fintech Beat, at last week's Fintech Week. (Photo by CQ Roll Call)

 

Brad Garlinghouse, CEO of Ripple, sits down with Fintech Beat's Chris Brummer about the state of his company, XRP, Facebook's Libra, Cryptocurrency, and the vast universe of the regulatory unknown.

Zuckerberg threatened with Facebook breakup
At hearing, lawmakers press founder and CEO over Libra cryptocurrency plan

Mark Zuckerberg arrives to testify at House Financial Services hearing on its cryptocurrency proposal. (Bill Clark/CQ Roll Call)

Zuckerberg to face criticism over cryptocurrency, other issues
Democrats and Republicans will interrogate the Facebook CEO on Wednesday over a number of issues

Facebook CEO Mark Zuckerberg is expected to face bipartisan criticism Wednesday when he appears before the House Financial Services Committee. (Tom Williams/CQ Roll Call file photo)

A conciliatory-sounding Mark Zuckerberg will face questions Wednesday about Facebook’s world-altering ambitions from congressional critics of both parties.

Democrats and Republicans are expected to interrogate the Facebook CEO over the plan to launch Libra, a cryptocurrency pegged to a basket of global currencies and managed by a consortium of multinational corporations, as well as the company’s role in the spread of political propaganda, alleged violations of housing legislation, dominance of online advertising, monetization of users’ data and censoring of right-wing media.

Blockchain technology may help streamline the flow of $550 billion dollars this year
Fintech Beat, Ep. 24

Remittances are poised to grow to $550 billion this year, making them the single biggest source of external funding for recipient economies, according to the World Economic Forum. More money is pumped into developing countries this way than by direct investment. But it's often costly and inefficient. Fintech, specifically blockchain technology, may be able to help.

Rise of fintech weakens law to prevent lending discrimination
The number of bank branches with a Community Reinvestment Act obligation to provide loans and other services is falling

The growth of online banking has poked some holes in the Community Reinvestment Act. (Ali Balikci/Anadolu Agency/Getty Images file photo)

As online banking threatens to make in-person banking at brick-and-mortar branches as archaic as video rental stores, it may do the same to a 1977 law created to counteract decades of underinvestment in minority neighborhoods.

The Community Reinvestment Act was Congress’ response all those years ago to redlining — the practice of discriminatory lending that denied or offered more expensive credit to minorities and the poor and led to urban blight and white flight from city centers.

Fintech Beat explores how Uber is much more than a ride sharing company
Uber meets Fintech, Ep. 23

A man waits for a ride-hailing service at Ronald Reagan Washington National Airport. (Photo By Tom Williams/CQ Roll Call)

What is Uber? It's not just a ride share company and definitely more than a technology company. Increasingly, it's a fintech company, too. We speak to the CEO of Uber Payments LLC and Uber's associate counsel to explore the company's identity.