Blockchain Bites: Bitcoin and the BSA, Signature Deposit Growth, Darknet Crypto Donors


Oct 20, 2020 at 16:29 UTC


Signature Bank’s deposits grew by over $4 billion. Non-profits have rejected bitcoin donations made from hackers. And a FinCEN investigation raises questions about bitcoin mixers and the Bank Secrecy Act. Here’s all the news people are talking about in crypto today.

Top shelf

Corporate DeFi?
R3’s open-source variation of its enterprise blockchain, Corda Network, will see the addition of a native cryptocurrency. The new coin, called XDC, will open the gates to build central bank digital currencies (CBDCs) and decentralized finance applications (DeFi) on the network. Programmed by the Cordite Society, a group of former bankers building decentralized tools, the XDC system will have compliance baked in to meet anti-money laundering (AML) standards, as every node represents a legal entity, CoinDesk’s Ian Allison reports. The Cordite Network is welcoming new members to vote on the rate of supply of XDC and other points of governance going forward.

Ironic outcome
Uniswap’s first voting process demonstrated the need to overhaul its governance system, Dharma CEO Nadav Hollander has said, following a “disappointing outcome.” The vote was over reducing the token threshold required to make and pass proposals on the protocol. Despite 98% of the votes cast being in favor of a proposed change, the total number needed for a successful vote fell short of the 40 million required by about 400,000. A successful vote would have seen this requirement drop by around a third. Hollander also said the vote “galvanized users to delegate…



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