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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...
Binance distances from WazirX as Indian regulators keep chasing crypto
15.8.2022
The ownership of WazirX became a hot topic as CZ claimed the deal never went through, but three years later, there’s still no clarity
President of Central Bank of Brazil Disagrees With ‘Heavy Hand’ Regulations for Cryptocurrencies
15.8.2022
The president of the Central Bank of Brazil, Roberto Campos Neto, has defended the use of more moderate regulations in the crypto environment. Campos Neto stated that while regulation is indeed necessary, it has to be done in a way that doesn’t stop innovation. He also explained his goal...
Crypto needs ‘enabling environment,’ Philippines central bank says
15.8.2022
The Philippine central bank sees the potential of crypto to improve domestic and cross-border payments, but the authority is still negative to crypto as a legal tender
Reserve Bank of Zimbabwe ‘Developed a Roadmap for Adoption of CBDC,’ Says Governor
14.8.2022
The governor of the Zimbabwean central bank, John Mangudya, recently said his organization “has developed a roadmap for adoption of CBDC [central bank digital currency] in Zimbabwe.” Mangudya also revealed that two fintech startups had been admitted into the central bank’s...
Bank of Russia Aims for Full Launch of Digital Ruble in 2024
14.8.2022
The Central Bank of Russia plans to begin the comprehensive implementation of the digital ruble two years from now, according to a paper detailing its monetary policy priorities for the 2023 – 2025 period. As the development of the state-issued digital currency continues, the monetary...
Peter Schiff to Liquidate Euro Pacific Bank in Settlement With Puerto Rican Regulator
14.8.2022
Gold bug Peter Schiff has settled with Puerto Rico’s financial regulator and agreed to liquidate his Euro Pacific Bank. Schiff stressed that he is not admitting to any legal wrongdoing. Peter Schiff Liquidating Euro Pacific Bank Gold bug and notorious bitcoin skeptic Peter Schiff has settled...
Crypto Trading, Investing Illegal in Iran, Central Bank Governor Reiterates
14.8.2022
It is illegal to buy or sell cryptocurrency in Iran, the head of the country’s monetary authority has recently reminded citizens and businesses. The governor noted, however, that mining cryptocurrencies and using them in payments for imports is not against the law in the Islamic Republic....
Central African Republic President Says Successful Launch of Sango Coin a Key Milestone
13.8.2022
According to Central African Republic President Faustin-Archange Touadéra, his country’s launch of the “Sango coin” currency, as well as the call for the creation of a common digital currency by the regional central bank, represent two key achievements for his country...
Philippines’ Unionbank to Support Cryptocurrency Exchange via Mobile App
13.8.2022
Union Bank of the Philippines, commonly known as Unionbank, has announced the upcoming launch of another crypto service for its clients. The financial institution will offer select users of its mobile app the option to exchange bitcoin and other digital currencies without a separate wallet....
India Freezes Peter Thiel-Backed Vauld’s Crypto and Bank Assets Worth $46 Million
13.8.2022
India’s Enforcement Directorate (ED) has frozen crypto exchange Vauld’s crypto and bank assets worth about INR 370 crore ($46,439,181). Vauld halted deposits and withdrawals last month. The Indian law enforcement agency is reportedly investigating more than 10 cryptocurrency...
Philippines Will Stop Accepting Crypto License Applications for 3 Years, Regulator Says
13.8.2022
The central bank of the Philippines, Bangko Sentral ng Pilipinas, has announced that it will stop accepting crypto license applications for three years, starting next month. The central bank is the primary regulator of the crypto sector in the Philippines. Philippines Halts Accepting Crypto License...
Panamanian Regulator May ‘Swing the Ax’ after Bitcoin-friendly Bank Bans Use of Crypto Mixers
12.8.2022
Panama’s “bitcoin (BTC) and crypto-friendly” bank Towerbank says it will bar its customers from making use of crypto mixers – in the wake of the United States Office of Foreign Assets Control (OFAC)’s move to sanction Tornado Cash earlier this month....
Read More: Panamanian Regulator May ‘Swing...
Russia plans to roll out digital ruble across all banks in 2024
12.8.2022
Bank of Russia started CBDC testing in 2022 and expects to implement an official banking rollout in the year of presidential elections in 2024
Philippines Central Bank to Halt Applications for New Virtual Asset Firms for Three Years
11.8.2022
The Philippines' central bank is closing its application window for new virtual asset services providers (VASP) licences for three years from Sept. 1
Flutterwave Kenya License Controversy: Fintech Giant Reportedly Applied in 2019
11.8.2022
The Nigerian fintech unicorn, Flutterwave, reportedly said it submitted an application for a payment service provider license to the Central Bank of Kenya back in 2019. The fintech also said it has remained in constant contact with the central bank and is hopeful it will get the license....
Bank of England Analysts See Crypto Having Important Roles in the Metaverse — Discuss the Need for Regulation
11.8.2022
Bank of England’s analysts say crypto assets could have important roles within the metaverse. “Widespread adoption of crypto in the metaverse … would require compliance with robust consumer protection and financial stability regulatory frameworks,” they added. Bank...
US Senators Warren, Sanders Ask Key Bank Regulator to Rescind Crypto Guidance
10.8.2022
U.S Senators Elizabeth Warren (D-Mass.), Bernie Sanders (I-Vt.), Richard Durbin (D-Ill.) and Sheldon Whitehouse (D-R.I.) asked the Office of the Comptroller of the Currency to rescind interpretative letters allowing banks to engage in crypto activities, and explain how involved banks are becoming...