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Nalezeno "US Banking": 2205

Nigeria’s Central Bank Rolls Out Regulations For Financial Institutions Dealing with VASPs

4.1.2024
Source: AdobeStock The Central Bank of Nigeria (CBN) has issued new regulations to guide banks and other financial institutions that offer domestic accounts for virtual assets service providers (VASPs). In an official circular released on its website on Jan 3, the country’s leading banking...

EBA to Extend Stress Testing to Assess Impact of Strains in Non-Bank Financial Institutions, Including Crypto Entities

3.1.2024
Source: AdobeStock / Grecaud Paul The European Banking Authority (EBA) is set to implement additional measures to evaluate the potential impact of strains in non-bank financial institutions (NBFIs), including those in the cryptocurrency sector, on traditional banks. This initiative is driven...

EU Banking Watchdog to Deepen Probe of Links Between Banks, Crypto Entities: FT

3.1.2024
The European Banking Authority (EBA) will take additional steps to anticipate how strains in non-bank financial institutions (NBFIs), including cryptocurrency-related entities, will affect banks

Bitcoin ETF Mania and Nigeria’s New Stance on Crypto to Drive the Industry’s Revival in Africa — Experts

30.12.2023
The U.S. Securities and Exchange Commission’s expected approval of bitcoin exchange-traded funds and Nigeria’s lifting of a directive which excluded the crypto industry from the banking ecosystem are expected to help revive African users’ interest in crypto. The Bitcoin halving...

An In-Depth Look Into the 2023 Banking Crisis — 3 of the Largest Bank Failures in US History

28.12.2023
The U.S. economy experienced an interesting year in 2023, marked by unprecedented upheaval within the American banking sector due to the combined collapse of three major banks, the largest the nation has historically seen. Amidst this chaos, crypto assets such as bitcoin demonstrated remarkable...

$2.2 Billion Illegal Forex Operation Busted by Chinese Authorities Using Crypto Platforms

27.12.2023
Source: Adobe / Alen Chinese authorities have reportedly dismantled an illegal underground banking operation that moved some $2.2 billion between China and other countries using overseas “virtual currency trading platforms.” On December 24, an account on social media app WeChat run...

China Unveils Digital Yuan Wallet Machine for Foreign Passport Holders

27.12.2023
A person’s hand holding US dollar banknotes at a banking machine. China has launched its first automated digital yuan wallet-opening machine for overseas passport holders. Per 21Jingji, the Bank of China’s Dongguan Branch has installed the machine at the Taiping branch of the Huangpu Customs Hall....

ZA Bank Supports Over 80 Web3 Companies with Commercial Banking Services

25.12.2023
  Hong Kong-based ZA Bank announced that it has been providing support for over 80 web3 companies since early this year. This is in line with its vision for “Banking for Web3,” which it introduced in April. Among these companies is OKX Hong Kong, and ZA Bank serves as the banking...

Russia’s Digital Ruble ‘Will Affect Banks’ Liquidity’ – Report

22.12.2023
Source: Yevgeniy Vershinin/Adobe Russia’s digital ruble will affect the commercial banking sector’s liquidity, experts have claimed as the nation prepares for a CBDC rollout. Per the media outlet Comnews, Russian financial industry experts expressed mixed feelings about the CBDC at a banking...

UK Finance Minister to Probe Banking Challenges Faced by Crypto Firms

20.12.2023
Source: AdobeStock / Mary The finance minister of the United Kingdom has pledged to look into the reported difficulties faced by licensed cryptocurrency firms in opening business accounts in the country. Chancellor of the Exchequer Jeremy Hunt has agreed to meet with Economic Secretary of...

Economist Jim Rickards’ ‘Tumultuous’ and ‘Shocking’ Predictions: Global Recession and a New Banking Crisis to Ensue in 2024

20.12.2023
Jim Rickards, a famous economist and investment lawyer, has predicted a year of turmoil for global economies in 2024. According to Rickards, the U.S. Federal Reserve will be unable to pull off a soft landing scenario, prompting a global recession. Also, according to Rickards, a new banking crisis...

Bitcoin Reaches New All-Time High In Options Open Interest

20.12.2023
Demand for Bitcoin options is soaring, with average daily open interest on the Chicago Mercantile Exchange (CME) touching an all-time high of $1.9 billion as of December. According to CoinGlass, the last high for CME open interest was in April at $1.68 billion, when the U.S. banking crisis a month...

UK Finance Ministry to Discuss Crypto Banking Woes With Lawmakers

19.12.2023
Finance Minister Jeremy Hunt said U.K., and London in particular, has become "the global crypto hub."

Franklin Templeton’s Executive Expects All Nations to Hold Bitcoin — ‘Every Country Is Going to Have to Hold Some Reserves’

19.12.2023
An executive at trillion-dollar asset manager firm Franklin Templeton expects bitcoin to become “something that every treasury needs to hold.” She believes that “every country is going to have to hold some reserves,” emphasizing that the cryptocurrency is “working its way increasingly into...

Tether CEO Details Partnership with FBI and Secret Service in Letter to Legislators

17.12.2023
Source: Unsplash Tether, the company responsible for the USDT stablecoin, has made public letters it sent to the U.S. Senate Committee on Banking, Housing, and Urban Affairs and the U.S. House Financial Services Committee, underscoring its dedication to security and close cooperation with...

Basel Banking Committee Proposes Stricter Guidelines to Classify Stablecoin as Less Risky Than Unbacked Cryptocurrencies

14.12.2023
BIS building in Basel, Switzerland. Source: Adobe/doganmesut The Basel Committee for Banking Supervision (BCBS) wants to tighten rules to classify stablecoins as less risky assets than Bitcoin (BTC) and other unbacked cryptocurrencies. In a recent consultative paper, the international standard...

Turkish Banking Titans Move into Crypto Space, Anticipating Upcoming Legislation

14.12.2023
Source: iStock / Muratani As Turkey prepares for new legislation in the crypto sector, major banking institutions in the country are making moves to secure their positions in the digital asset space. Despite uncertainties about the potential strictness of the impending laws, institutional adoption...