NEM Foundation Releases Restructuring Plan Amid Financial Difficulties

The NEM Foundation has released its plan for a financial and organizational restructuring on March 8. The plan comes in the wake of news earlier this year that the foundation was running low on its native XEM tokens.

On Feb. 20, the foundation decided to release 210 million XEM tokens ($8.7 million) from reserves,

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China: Insurance Giant Ping An Releases "White Paper on Smart Cities," Advocates for Blockchain

China’s Ping An Insurance, one of the world’s largest insurance company groups, has released a “White Paper on Smart Cities,” advocating for blockchain tech, AI, big data, and cloud computing, People’s Daily reports August 22.

Ping An Insurance, a Chinese conglomerate with operations in insurance, banking, and financial services, was ranked the third most valuable global financial services company in the world as of May 2018.

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US Treasury Releases Fintech Report, Discusses Issues Relevant to Cryptocurrency

The U.S. Treasury Department released its highly anticipated report that examines the current monetary system, discusses cryptocurrency, and proposes sweeping changes that would cut regulatory inefficiency and incubate new technologies.

The report, which is titled “A Financial System That Creates Economic Opportunities: Nonbank Financials, Fintech, and Innovation” was drafted under Treasury Secretary Steve Mnuchin and addressed to President Donald Trump. 

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