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US House Financial Services Committee Republicans Reach Some Compromise With Democrats on Latest Version of a Stablecoin Bill
9.6.2023
The House Financial Services Committee under its Republican leadership has dropped a new version of its stablecoin bill after receiving feedback from its Democratic members.
The bill, which is still a discussion draft, would regulate payment stablecoins specifically, and would allow state...
How to use credit cards wisely to avoid debt
9.6.2023
Discover effective strategies and best practices to use credit cards wisely and avoid debt
New Stablecoin Bill Drafted by House Republicans as Compromise With Democrats
9.6.2023
The Republican chair of the House Financial Services Committee has released a new draft of the leading U.S. legislative proposal for overseeing stablecoins, and it includes some of the positions of Democratic lawmakers
Banks Have Come to the Metaverse
8.6.2023
JPMorgan, HSBC and others have created metaverse-native banking experiences, hoping to entice a new generation of clients
UK Lawmakers Clash Over Government Plans to Regulate Crypto as Financial Services
8.6.2023
While some lawmakers have aligned with the government’s proposal, others want the volatile assets to be treated as gambling
‘De-Dollarization Emerging’ but Greenback Will Retain Its Dominance — JP Morgan Strategists
8.6.2023
Two JP Morgan strategists have said the U.S. dollar will retain its dominant position even as it is being challenged by alternative currencies such as the Chinese yuan. According to a report, the yuan currently accounts for just 7% of global foreign exchange trade volumes while the greenback...
The Bitcoin Rich List: An In-Depth Look at the Largest Bitcoin Wallets in Existence Since 2014
7.6.2023
Over the past decade, several bitcoin wallets have been named the largest in existence. However, since 2021, Binance has controlled the largest bitcoin address, which currently holds 248,597 BTC and is worth approximately $6.66 billion. Just over nine years ago, the largest wallet belonged to...
The Petrodollar and Its Discontents Point to Bitcoin's Role in the Financial Future
7.6.2023
Recent moves by Saudi Arabia, Russia and China have raised fears that the U.S. dollar could lose its preferred status for oil trading. And yet alternative national currencies aren’t that appealing. Could a Bitcoin-like currency do better?
Former Minnesota Vikings Co-Owner Slapped With 75 Month Jail Term for Processing $750M Worth of Crypto Transactions
7.6.2023
U.S. Attorney’s Office for the Southern District of New York announced on June 5 that the former co-owner of Minnesota Vikings, Reginald Fowler, has been sentenced to 75 months in prison for processing more than $700 million of unregulated transactions on behalf of crypto exchanges. Folwer...
US Financial Services Committee sets date to discuss future of crypto
7.6.2023
The committee did not disclose all the specific topics for discussion, but the community anticipates that the hearing will address critical issues in the space
Chinese Yuan, Euro, Digital Currencies Challenge US Dollar Dominance, TD Economist Says
7.6.2023
A senior economist at financial services firm TD says the Chinese yuan, the euro, and digital currencies could erode the U.S. dollar’s dominance. “Several countries have shown frustration with the dominance of the dollar and are pursuing alternatives for conducting international trade...
IOHK’s Charles Hoskinson Warns of CBDC Agenda and Potential Dystopian Future Amid Binance Lawsuit
6.6.2023
Following the lawsuit filing by the U.S. Securities and Exchange Commission (SEC) against Binance, encompassing 13 allegations of “operating unregistered trading platforms” and “participating in multiple unregistered offers and sales of crypto asset securities,” Charles...
Swift and Chainlink Will Test Connecting Over a Dozen Financial Institutions to Blockchain Networks
6.6.2023
In a new set of experiments Swift will collaborate with major financial market institutions like Australia and New Zealand Banking Group Limited (ANZ), BNP Paribas, BNY Mellon, Citi, Clearstream, Euroclear and Lloyds Banking Group
Japanese Banking Giant MUFG to Deploy Stablecoins on Public Blockchains
6.6.2023
Mitsubishi UFJ Financial Group (MUFG), the largest bank in Japan, announced its plans to deploy and distribute bank-backed stablecoins on different public blockchains. The Japanese bank has partnered with Datachain, a blockchain interoperability company, and Toki, a cross-chain bridge, to allow...
New Stablecoin Issuer Raft Is Eschewing Fiat for Its Financial Backing
5.6.2023
Its R stablecoin is collateralized by one crypto asset: liquid staking leader Lido’s staked ether (stETH)
Atomic Wallet Hack: Decentralized Finance Wallet Breached, Millions Lost in Attack
4.6.2023
On June 3, 2023, numerous sources revealed details about an attack on Atomic Wallet that resulted in significant financial losses for many victims. The Atomic Wallet team announced they are looking into the issue, while onchain investigators like Zachxbt have also been digging deeper, searching...
CZ Binance on Buying Banks to Fight Crypto Regulation Woes, Russian Banker Says CNY Likely to Dethrone USD, and More — Week in Review
4.6.2023
Changpeng Zhao, the CEO of Binance, doesn’t think buying a bank would solve the crypto industry’s troubles with traditional financial institutions, amid issues his own exchange currently faces in regions like Australia and Europe. In other news, the chairman of Russia’s...
Draft Legislation From House Republicans Drums Up Support From Crypto Advocates
3.6.2023
New draft legislation is drumming up support among cryptocurrency advocates who cheered its focus on defining what constitutes a security versus a commodity.
Republican lawmakers teamed up on Friday in the US House Financial Services Committee and the House Agriculture Committee on a discussion...
BRICS Nations to Encourage Use of Local Currencies in Trade
3.6.2023
Countries in the BRICS bloc intend to encourage the use of local currencies in cross-border trade, their foreign ministers revealed. The top diplomats, who met in South Africa, also emphasized the importance of financial inclusion, welcoming new technologies that support it. BRICS to Stimulate...
Tanzanian Central Bank Says Forex Restrictions Intended to ‘Safeguard the Stability of the Financial System’
3.6.2023
The Tanzanian central bank said on May 31 that foreign currency dealers are required to trade all transactions that exceed $1,000,000 within “interbank foreign exchange market prevailing quoted prices.” According to the Bank of Tanzania, the latest directives are intended...