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Banks Not Looking to Create Own DeFi Alternatives – Investment Banker
22.9.2021
Olsen of JPMorgan’s blockchain arm Onyx, said that finding the “right intersection between private and public infrastructure” will be an important job for the bank going forward. This argument would suggest that some private infrastructure will be necessary as major financial institution
Biggest Bank in Venezuela Suffers 5 Day Outage After Hack Attempt
21.9.2021
The Bank of Venezuela, one of the biggest state banks in the country, is now experiencing an outage that has left its customers without services for five days. The bank published a PR statement stating this was the result of a “terrorist attack” on the national financial system, being...
Bank of Russia to ‘Slow Down’ Payments to Crypto Exchanges, Curb Russians’ Impulsive Investments
19.9.2021
Central Bank of Russia is now working with commercial banks in order to delay payments made to digital asset exchanges. The move aims to limit “emotional” cryptocurrency purchases made by “unqualified” Russian investors, a CBR official revealed. The move is likely...
DCG-backed Korean exchange faces closure if it can’t find banking partner
17.9.2021
South Korean crypto exchange Gopax has told users if it can’t resolve its banking difficulties before a looming regulatory deadline, it will need to shut down
Crypto and DeFi disintermediate banking in new ways, says OCC head
16.9.2021
The head of the body in charge of overseeing U.S. banks named cryptocurrency and decentralized finance (DeFi) activity among factors contributing to disintermediation of the banking system
IRS, Janet Yellen Press Lawmakers to Push ‘Tax Compliance Agenda’ — Banks to Report Deposits, Withdrawals of $600
16.9.2021
On Wednesday, U.S. Internal Revenue Service (IRS) commissioner Charles Rettig and Janet Yellen, the Treasury secretary, urged lawmakers to give the IRS permission to report annual inflows and outflows from American bank accounts. Regardless of tax liability, financial institutions across...
Canada’s ‘Mad Max’ Supports Bitcoin — Says ‘I Hate How Central Banks Are Destroying Our Money and Economy’
16.9.2021
Maxime Bernier, a former cabinet minister nicknamed “Mad Max” and the leader of the People’s Party of Canada (PPC), says he supports bitcoin and cryptocurrencies. “I hate how central banks are destroying our money and economy … cryptos are another new...
Nendoroid And Figma Company Sued Over Mistreatment, Sexualized Toys
16.9.2021
In 2020, popular figurine manufacturer Good Smile Company sued two former vice presidents, Guy Brand and James Young-sik Kim, for competing with its merchandise business while employed at GSC. In response, the former employees have filed a cross-complaint claiming that GSC actively profited from...
Bank of Russia wants to block ‘emotional’ and suspicious crypto activity
15.9.2021
The Russian central bank is planning to slow down payments to crypto exchanges and combat suspicious crypto activity
Morgan Stanley launches cryptocurrency research team
15.9.2021
After launching a Bitcoin investment tool for millionaires earlier this year, Morgan Stanley dives deeper into crypto
Bank of Russia Recommends Banks to Block Cards, Wallets Used to Transact With Crypto Exchangers
14.9.2021
The central bank of Russia has advised commercial banks on how to identify and block cards and wallet accounts used by shady businesses. Along with illegal forex dealers and financial pyramids, the regulator has also listed crypto exchangers as suspicious entities. New AML Recommendations by Bank...
US Treasury reportedly in talks for stablecoin regulation
13.9.2021
Treasury officials are studying the risks if too many people decide to withdraw their stablecoins all at once
Russian Central Bank Tells Domestic Banks to Block Crypto Exchange Transactions
13.9.2021
gal business activities” such as “cryptocurrency exchanges,” which it clumped together in the same group as “online casinos and lotteries,” “financial pyramid schemes” and forex dealers.The central bank said it wanted domestic financial institutions to “block transactions” and “completely sto
BIS Asks Central Banks to Urgently Develop CBDCs to Compete With Crypto Assets
12.9.2021
The head of the Bank of International Settlements (BIS) Innovation Hub, Benoît Cœuré, has urged central banks to act now on central bank digital currencies (CBDCs) to compete with initiatives in the private sector, including cryptocurrencies. “CBDCs will take years to...
CBDC Race, Blockdaemon Unicorn, Harmony & Algorand Pour Millions + More News
10.9.2021
lity. "The time has passed for central banks to get going. We should roll up our sleeves and accelerate our work on the nitty-gritty of CBDC design. CBDCs will take years to be rolled out, while stablecoins and cryptoassets are already here. This makes it even more urgent to start," Benoît Cœu
E-Naira Countdown: Nigerian Experts Question Selection of Bitt Inc as Central Bank’s Fintech Partner
10.9.2021
Nigerian fintech entrepreneurs have slammed the Central Bank of Nigeria (CBN)’s decision to select Bitt Inc as its fintech partner. They insist that the choice of Bitt Inc, a Barbados based firm, undermines central bank claims that it is “fighting for the naira in the forex...
Aussie Banks Reject Crypto Industry’s 'Bullying' Allegations
10.9.2021
target="_blank" rel="noopener noreferrer" href="https://www.reuters.com/article/australia-banks-inquiry/update-1-australian-banks-reject-pressure-to-deal-with-cryptocurrency-firms-idUSL1N2QB06Z">reported by Reuters. McEwan claims the bank does not have a policy of debanking crypto-r
Major Korean Exchanges Secure Real-Name Account Arrangements With Local Banks
10.9.2021
Leading cryptocurrency exchanges in South Korea have reached agreements with Korean banks to maintain the issuance of real-name accounts, media reports revealed. The deals, although not yet permanent, will allow the trading platforms to register with financial authorities before the Sept....
This Assurance Layer Is Bringing Trust To The World of DeFi Lending And Borrowing
9.9.2021
rade assets and derivatives, and so on. People who want to borrow against their crypto assets to make even bigger bets frequently use this collection of businesses.There are two fundamental distinctions from traditional banks. All services are for digital currencies rather than government-iss
S Korean MP Tells Gov’t: ‘Don’t Let a Crypto Monopoly Emerge’
8.9.2021
country to have submitted its official application to become a licensed trading platform operator after sealing a deal with the neobank K-Bank. The latter has established a