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Cryptocurrency Exchanges Still Fighting Private Banks for Right to Open Bank Accounts in Chile
13.1.2023
The conflict between banks and cryptocurrency exchanges in Chile is still developing, as some banks are reticent to serve this kind of institution. A new report prepared by exchanges reports that most of these banks refuse to include crypto companies as customers for risks that are nevertheless...
Nigeria revisits its payments landscape amid sluggish eNaira adoption
12.1.2023
The Nigerian central bank has outlined key focus areas for its national payments system in a two-year roadmap leading up to 2025
The Fed Will Keep Focusing on Crypto — Fed Governor Says ‘We Do Not Want to Hinder Innovation’
12.1.2023
Federal Reserve Governor Michelle Bowman says while “cryptocurrency activities can pose significant risks,” the Fed does not want to “hinder innovation.” She added: “By inhibiting innovation, we could be pushing growth in this space into the non-bank sector, leading...
JPMorgan CEO Jamie Dimon on US Economy: ‘I Shouldn’t Ever Use the Word Hurricane’
12.1.2023
JPMorgan Chase CEO Jamie Dimon says he “shouldn’t ever use the word hurricane” when warning about the U.S. economy. However, he insisted that there are “storm clouds” that “could be a hurricane.” JPMorgan CEO Jamie Dimon on US Economy The chief executive...
Brazilian Cryptocurrency Law Likely to Be Reviewed by Lula’s Government
12.1.2023
The recently approved Brazilian cryptocurrency law will likely be reviewed and revised by the newly inaugurated government of Luis Inacio “Lula” Da Silva. According to statements made by the former rapporteur of the law, Expedito Netto, the new government will likely review the law...
China's central bank includes digital yuan in report on currency circulation
11.1.2023
The 13.61 billion e-CNY represented roughly 0.13% of the 10.47 trillion yuan in circulation at the end of 2022
Coinbase Rally May be a Selling Opportunity, Says Bank of America
11.1.2023
Analyst Jason Kupferberg downgraded the crypto exchange to underperform from neutral, saying 2023 estimates are still too high
Bank of Russia Outlines Payment Models With Digital Ruble, Other CBDCs
11.1.2023
The Central Bank of Russia has detailed two methods for implementing the digital ruble and other state-backed coins in international settlements. The monetary authority also plans to start testing consumer-to-business (C2B) operations in the first quarter of the year. Russia’s Central Bank...
World Bank Report Forecasts Bleak Global Economic Outlook, Citing ‘Adverse Developments’ and ‘Long-Lasting Slowdown’
11.1.2023
On Jan. 10, 2023, the World Bank published its Global Economic Prospects report, stating that the outlook for the global economy and future economic conditions is bleak. According to the report, 2023 growth forecasts have been cut across the board, with the global economy projected to grow by 1.7%...
Study Reveals South Korea’s ‘Kimchi Premium’ Strongly Linked to International Remittances to China
10.1.2023
A newly-released study published in December 2022 reveals that South Korea’s “kimchi premium,” the divergence in cryptocurrency valuations on Korean exchanges compared to Western trading platforms, is strongly associated with a surge in international remittances to China....
Metropolitan Commercial Bank Closes Crypto Vertical, Emphasises it Has No Liabilities
10.1.2023
US Metropolitan Bank Holding Corp., the parent company of the New York-based, $6.4 billion-asset-heavy Metropolitan Commercial Bank (MCB), said it would "fully exit the crypto-asset related vertical."
Mark R. DeFazio, President and CEO of MCB, stated that this announcement "represents...
New Nigerian Central Bank Document Discusses Regulation of Stablecoins and ICOs
10.1.2023
According to a recently unveiled document, the Nigerian central bank will in the future be open to developing a regulatory framework for potential implementations of stablecoins. The document also discusses the regulation of initial coin offerings (ICOs) and how these can become “a new way...
Nepal regulator orders ISPs to block crypto websites or face the law
10.1.2023
Nepalese internet and email providers were put on notice by the country’s telco regulator to block crypto-related websites or face legal action
Russia to begin work on CBDC settlement system in Q1 as sanctions endure: Report
10.1.2023
The country's central bank will begin studying two possible cross-border CBDC settlement models this quarter
Signature Bank Downgraded at Jefferies Due to Shrinking Crypto Business
9.1.2023
The cut to hold by the formerly bullish analyst team comes after the stock has suffered a 67% year-over-year decline
Uncertainty Surrounds Federal Reserve’s Future Plans for Rate Hikes
9.1.2023
The U.S. Federal Reserve has raised the benchmark bank rate seven times during the course of 2022, leading many to question when the central bank will cease or change course. The Fed has stated that it aims to bring inflation down to the 2% target, and the increases to the federal funds rate...
New York-based bank exits crypto after tumultuous year
9.1.2023
The Metropolitan Bank Holding Corp, the holding company for Metropolitan Commercial Bank, says it’s completely exiting its crypto-asset-related vertical
Metropolitan Bank Heads for Crypto Exit
9.1.2023
New York-based Metropolitan Commercial Bank (MCB) is to end its cryptocurrency offering, citing recent developments in the crypto industry
Report: Nigeria to Stop Cash Withdrawals From Government Accounts
9.1.2023
From the start of March, Nigerian public officials will be barred from withdrawing cash from government bank accounts, the head of the Nigerian Financial Intelligence Unit reportedly said. Public officials that want to be exempted from this new regulation will have to obtain a waiver from...
Mexico's digital peso delayed, unclear launch date
8.1.2023
Mexico's central bank is currently working on legal, administrative, and technological requirements for the peso's digital version