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Moneyness
10.08.2024
Before anti-money laundering laws arrived in Switzerland, anyone could walk into a Swiss bank and open an account without showing any ID. Th...
01.08.2024
I recently shared a chart on Twitter showing Chinese exports of ball bearings to Russia. Here it is: Having accelerated after Putin's invas...
26.07.2024
Riot Platform's Rockdale, Texas facility, North America’s largest Bitcoin mining farm by developed capacity [ source ] Can a network that ha...
12.07.2024
We all have a pretty good idea that our finances are being snooped on, but most of us aren't quite able to articulate how. We know that we'r...
18.06.2024
Last week the U.S. government expanded the coverage of its secondary sanctions to encompass most of Russia's banks. It's a very big step, o...
11.06.2024
Crypto enthusiasts protest the trial of Alexey Pertsev As the multiple Tornado Cash legal cases wend their way through courts in the Netherl...
29.05.2024
An English penny minted by William the Conqueror, who brought monetagium to England. Source: History in Coins The way that a modern mafia pr...
09.05.2024
This silver pfennig from the Archbishopric of Magdeburg (1152-1192) was subject to a policy of renovatio monetae . Twice a year whoever held...
20.04.2024
Payments companies are regularly punished for engaging in money laundering. MoneyGram, for instance, has has to pay multiple fines . Wester...
12.04.2024
I'm not a fan of mandatory investor education classes. The issue was brought up recently by former chair of FDIC, Sheila Bair, who sees s...
30.03.2024
Last month American provocateur Tucker Carlson visited a Russian grocery store. Because it was filled to the brim with food, Carlson claims...
19.03.2024
There's a new financial loophole in town: stablecoins. Stablecoins are dollar, yen, or pound-based payments platforms that are built using ...
14.03.2024
I very much enjoy economist Robin Brooks's tweets, especially his charts showing how sanctions imposed on Russia have affected regional tra...
06.03.2024
Call me a pedant, but I'm not a fan of the word "crypto". It may have been a serviceable category back in 2011 when there was only one type ...
01.03.2024
What do I like about Byzantine coinage? Most people probably admire the Byzantine solidus , a gold coin that maintained its weight and purit...
23.02.2024
Turkish banks halted transactions with Russian banks last month and are only slowly reintroducing payments for a narrow range of products t...
01.02.2024
A Federal judge ruled last week that the emergency banking measures taken to end the Ottawa convoy protest in 2022 contravened the protesto...
25.01.2024
Some folks are suggesting that a bitcoin ETF is absurd because it doesn't fit with Bitcoin's original ethos. On the contrary, I think it's a...
09.01.2024
Russia is sometimes described as the world's most sanctioned nation. And while that's true , the long list of sanctions that the G7 coalitio...
21.12.2023
I'll start with the conclusion. I don't think flatcoins are a good idea. The idea for flatcoins has been around for a while, but it got a wi...
17.12.2023
Coinbase, the U.S.'s largest crypto exchange, is openly processing Ethereum transactions involving Tornado Cash, a piece of blockchain infra...
06.12.2023
Tether, a stablecoin, has been in the news for offering sanctioned actors such as Hamas a means to participate in the global payments ecosy...
02.12.2023
Many of you may not realize this, but in most parts of the developed world, banks automatically record and report our transactions to law en...
29.11.2023
Central bank settlement systems are the the tectonic plates of the payment system: they are vitally important to our lives, but we never see...
21.11.2023
Chris Blec asks the following question: Source: Twitter Chris's premise is that it is "not illegal" for him to get together with a bunch of ...
17.11.2023
It's been a full year since FTX International and FTX-US collapsed, and the shocking thing is – there is still no regulated crypto venue i...
15.11.2023
Two seemingly separate stories, a crypto and a banking story, have a common thread in anti-money laundering thresholds. In the first story, ...
09.11.2023
What role do changes in the supply of banknotes play in contributing to a central bank's ability to carry out monetary policy? Put different...
18.10.2023
Source: America Loves Crypto You may have recently come across the America Loves Crypto marketing campaign, sponsored by Coinbase, the U.S....
16.10.2023
Last week I explored how Henry VIII resorted to coin debasement as a way to raise revenues in order to fight his wars. This provided Henry ...
13.10.2023
Here's my quick first-pass take on Privacy Pools , the heir apparent to privacy tool Tornado Cash. My comments are on the legal side, and le...
I've been writing on this blog for a while now – over ten years. Many of those posts are now forgotten (by myself included), but some were...
Henry VIII, after Hans Holbein the Younger It's fun to imagine traveling back in time and engaging with the then-prevailing technologies. Wo...
Here's a question for you: which U.S. financial institutions are legally permitted to pay interest to retail customers? We can get an answer...
19.09.2023
The 2022 sanctioning of privacy tool Tornado Cash by the Office of Foreign Assets Control (or OFAC, the U.S.'s sanctioning authority) has...
12.09.2023
PayPal now offers its customers two types of U.S. dollars. In addition to having the option of opening a traditional PayPal account to maint...
07.09.2023
There's a good article by Leo Schwartz on stablecoin issuer Circle, which provides some clarity into last March's big depegging of the USDC...
31.08.2023
Over the last few years I've written a bunch of posts about Tornado Cash, an Ethereum-based mixing service, because I find it to be a fas...
29.08.2023
Scam call centre on CCTV, via BBC . Here's a question for you. Should banks be required to reimburse customers who have been scammed? I was ...
21.08.2023
I recently noticed that the Bank of Jamaica, Jamaica's central bank, has implemented two new marketing strategies to drive adoption of its ...