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ECB Creating a Harmonized Regulatory Framework Governing Crypto Activities and Services
19.8.2022
The European Central Bank (ECB) is working to harmonize the regulatory framework governing crypto activities and services in the EU. The regulator noted that several regulatory initiatives at the European and international levels are being finalized. ECB’s Regulatory Plan for Crypto Assets...
South African Reserve Bank encourages friendly behavior with crypto
18.8.2022
The banking authority said avoiding risk through cutting off crypto-involved clients may pose a “threat” to financial integrity
US Federal Reserve Board Unveils Final Guidelines Used When Reviewing Requests for Access to Master Accounts
18.8.2022
The U.S. Federal Reserve Board has said it has released the final guidelines which are set to be used by Reserve Banks when “reviewing requests to access Federal Reserve accounts and payment services.” According to the board, the final guidelines will become effective as soon as they...
British Fintech Revolut Granted Crypto License in Cyprus
18.8.2022
U.K.-based digital bank Revolut has been authorized by Cyprus to provide cryptocurrency services to millions of customers on the Old Continent. The fintech firm says the regulatory approval will allow it to establish a European crypto hub in the island nation. Revolut to Expand Crypto Services...
Chinese Parents to Use Digital CNY ‘Smart Contracts’ to Pay for After-school Lessons
18.8.2022
A Chinese state-owned commercial bank is set to pilot a digital yuan-powered “smart contract solution” that allows elementary school parents to pay for their children’s education using the e-CNY....
Read More: Chinese Parents to Use Digital CNY ‘Smart Contracts’ to Pay for After-school Lessons
Senator asks FDIC about allegations it discourages bank relations with crypto companies
17.8.2022
Sen. Pat Toomey says he has information from whistleblowers that the FDIC without a legal basis is discouraging banks from dealing with companies with crypto links
European Central Bank addresses guidance on licensing of digital assets
17.8.2022
Specifically, the ECB will consider crypto firms’ business models, internal governance, and “fit and proper” assessments which apply to licensing other companies
Russia’s GDP Decline Less Severe Than Expected, Wall Street Returns to Russian Bonds, Putin Criticizes US ‘Hegemony’
17.8.2022
While the ongoing war in Ukraine continues, the Ministry of Economic Development of the Russian Federation detailed this week that Russia’s economic hardships are less severe than expected. Russia’s economic ministry says that the economy’s gross domestic product (GDP)...
World Bank Affiliate IFC Backs Blockchain-Based Platform for Carbon Offsets
17.8.2022
International Finance Corp (IFC), a World Bank affiliate focused on investment in less-developed countries, is backing a blockchain-based platform for the trading of carbon offsets
UK Group to Test Stablecoin Payments, Provide Data to Bank of England
17.8.2022
The Digital FMI Consortium will test cross-border payments and provide recommendations to the Bank of England using its own sterling-backed stablecoin
Colombia to prevent tax evasion with national digital currency: Report
17.8.2022
A national digital currency would help curb tax evasion in Colombia, which is estimated at up to 8% of GDP, the head of Colombia’s tax and customs agency said
El Salvador’s Chivo BTC App Largely Disused & ATM Booths ‘Empty’ – Report
16.8.2022
Under 2% of remittances made to El Salvador make use of the state-operated Chivo bitcoin (BTC) app and wallet – and bitcoin ATM booths in the nation are “empty” less than a year after their launch, a new report has claimed. But the government claims that the app is still popular among many...
Bank of China unveils new e-CNY smart contract test program for school education
16.8.2022
Under the pilot test, parents could enroll their children in after-school vocation programs via smart contracts
Is Bitcoin really a hedge against inflation?
16.8.2022
Bitcoin is working as a hedge against inflation despite its 2022 weak price performance, says Steven Lubka, managing director of private clients at Swan Bitcoin
Brazil's Largest Investment Bank, BTG Pactual, Launches Crypto Trading Platform
16.8.2022
Called Mynt, the product allows customers to trade bitcoin, ether, solana, polkadot and cardano
South Korea’s SK Securities to Team up with Regional Bank for Crypto Custody, NFT Move
16.8.2022
The securities arm of South Korea’s second-largest business group will take the crypto plunge – and will team up with a domestic commercial bank as part of its efforts....
Read More: South Korea’s SK Securities to Team up with Regional Bank for Crypto Custody, NFT Move
DeFi Firms Iron Bank, Yearn Finance Join Layer 2 Protocol Optimism
16.8.2022
Developers of the DeFi protocols said that layer 2 networks offer improved security and capital efficiency for users
Korean regulators investigate banks over $6.5B tied to Kimchi premium
16.8.2022
South Korean financial regulators are looking into the massive amount of foreign remittances of cash that came from crypto exchanges
Russian Banks to ‘Start Handling Digital Ruble by 2024’
16.8.2022
A Russian central bank digital currency (CBDC) could be around the corner, with commercial banks in the country now being told by the central bank to prepare to handle a digital ruble within the next two years.
According to a document dated August 11 and issued by the Bank of Russia –...
Peter Schiff Warns US Faces a ‘Massive Financial Crisis,’ Economist Expects Much Larger Problems Than 2008 ‘When the Defaults Start’
15.8.2022
The economist and gold bug Peter Schiff usually has a lot to say, and this past week Schiff explained during an interview that he believes the U.S. will face a financial crisis worse than 2008’s ‘Great Recession.’ Schiff explains that the U.S. has a lot more debt than it...