Search
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
Russia Will Begin Collecting Taxes in Digital Rubles from 2025
3.1.2024
Source: Valery/Adobe Russian tax authorities will start collecting taxes in digital rubles from 2025, with banks also handed powers to block “suspicious-looking” CBDC transactions. Per the media outlet Klerk, recent tax code amendments – signed into law by President Vladimir Putin late last year...
Latam Insights: Vitalik Buterin Praises Argentina, Brazilian Banks Test Microsoft CBDC Privacy Solution
1.1.2024
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Ethereum co-founder Vitalik Buterin praises Argetina’s moves, Brazilian banks introduce Microsoft privacy solutions in digital real tests, and Mi Primer...
Maelstrom CIO Arthur Hayes Alerts Big Banks Will Eventually Cannibalize Tether’s Business Model
31.12.2023
Arthur Hayes, CIO of Maelstrom and former CEO of Bitmex, discussed the eventual demise of Tether and other stablecoin companies. Hayes explained that Tether’s business model, which consists of taking dollars and investing in treasuries, will eventually be cannibalized by big banks like...
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...
41% of Central Banks Expect to Have Operational CBDCs by 2028 — Study
26.12.2023
Some 41% of central banks that participated in the Official Monetary and Financial Institutions Forum (OMFIF) study said they expect to have an operational central bank digital currency (CBDC) by 2028. The survey found that the sentiment towards CBDCs is turning positive with 30% of the respondents...
Nigerian Central Bank Lifts February 2021 Crypto Prohibition Order
23.12.2023
The Nigerian central bank has reversed its Feb. 5 order which barred banks and financial institutions from extending their services to crypto entities. The central bank said new guidelines align with the Financial Action Task Force’s updated recommendation 15, which calls for the regulation...
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...
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...
Banks Flock to Chinese Digital Yuan Pilot – 60 Now Offer CBDC Wallets
20.12.2023
Source: Sean K/Adobe Nine more banks have joined China’s digital yuan pilot, bolstering the number of banks offering CBDC wallets to 60. Per Beijing Business Today (via Sohu), the latest batch of commercial banks to join the pilot include three big city-based banks and six rural banks. City-based...
Report: Bank of Korea Chief Says Growing Use of Stablecoins Threatens Central Bank Operations
19.12.2023
The Bank of Korea governor Rhee Chang-yong recently stated that the growing stablecoin use threatens the operations of central banks. The possible involvement of global networks like Visa and Mastercard in the stablecoin business will likely undermine the monetary independence of countries like...
Survey: 4 in 5 Institutional Investors Agree Crypto Has Important Role in Global Financial Industry
19.12.2023
An institutional investor survey conducted by digital asset bank Sygnum indicates a shift from skepticism to advocacy, “with over 80% now agreeing that crypto has an important role to play in the global financial industry,” said the bank’s digital asset research manager. “It’s now truly...
Lesotho’s Entire Payment System Reportedly Goes Offline After Cyberattack
16.12.2023
The Central Bank of Lesotho recently confirmed that its payment system was attacked by unknown cybercriminals. The bank also acknowledged that the resulting downtime is making it “impossible for all local banks to honor inter-bank transactions in the country.” No Financial Loss Suffered...
Ripple Releases Framework on the Future of CBDCs Highlights Benefits and Challenges
15.12.2023
Source: AdobeStock / photo_gonzo Blockchain payment firm Ripple has rolled out a whitepaper on the state of Central Bank Digital Currencies (CBDCs), their utility in cross-border payments as well as challenges towards adoption in several jurisdictions. The framework published on Dec 14 explains...
Bank of Korea Governor Sees CBDC Introduction as Case for 'Urgency:' Report
15.12.2023
Stablecoins' widespread usage and frequent instability could lower the effectiveness of central bank monetary policies, Rhee Chang-yong said
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...
Former Credit Suisse Executive Launches Crypto Trading Platform for Financial Institutions
14.12.2023
Source: Pixabay A new Zurich-based startup Rulematch is creating a customized crypto trading experience for banks and securities firms. The trading venue is launched by a former Credit Suisse executive David Riegelnig. Rulematch has commenced Bitcoin (BTC) and Ether (ETH) spot trading against...
Rulematch, a Swiss Crypto Exchange for Banks, Goes Live With Spain's BBVA
14.12.2023
The institutional crypto platform uses Nasdaq’s trading tech, and comes out the gates with seven banks and securities firms
“Banks Work, Bitcoin Doesn’t” Wikipedia Co-founder Fires Shots at Bitcoin, Community Responds
13.12.2023
Bitcoin Wikipedia Source: Adobe / piter2121 Wikipedia co-founder Jimmy Wales criticized Bitcoin (BTC) on the asset losses when users forget their wallet passwords against the reality of centralized finance sparking wide controversy among crypto enthusiasts. Wales wrote on X (formerly Twitter)...
First Mover Americas: Revised BlackRock Bitcoin ETF Filing Invites Participation From U.S. Banks
13.12.2023
The latest price moves in bitcoin [BTC] and crypto markets in context for Dec. 13, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets