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Standard Chartered-owned crypto platform Zodia launches in Hong Kong
30.10.2023
Demand for crypto in Hong Kong is mainly driven by institutional investors rather than retail customers, Zodia CEO said
Deutsche Bank and Standard Chartered Venture into SWIFT Alternative for CBDCs
27.10.2023
Deutsche Bank and Standard Chartered’s venture arm SC Ventures are exploring a solution that aims to enable seamless communication between blockchain-based transactions, stablecoins, and central bank digital currencies (CBDCs). The two banks are actively testing the concept using...
UK Residents Flags Privacy Concerns in Digital Pound Consultations: Bank of England
27.10.2023
The Bank of England (BOE) says the majority of 50,000 feedbacks it received from the public consultation on the digital pound revolve around privacy and fiat scarcity concerns. Jon Cunliffe, the bank’s Deputy Governor disclosed in a speech, Money and payments: a ‘black ships’...
Indian Banks Offer Rewards to Encourage Digital Rupee Adoption
27.10.2023
Indian banks are actively promoting the adoption of the central bank digital currency (CBDC), digital-rupee, by offering a range of incentives to encourage users to conduct transactions with the national digital currency. These incentives include cash-back rewards and reward points, Reuters...
JPMorgan CEO Jamie Dimon Sees Nuclear Proliferation as ‘Most Serious Thing Facing Mankind’
26.10.2023
JPMorgan Chase CEO Jamie Dimon has identified nuclear proliferation as “the most serious thing facing mankind.” According to the United Nations, “the risk of a nuclear weapon being used is currently higher than at any time since the depths of the Cold War.” Dimon also pointed out that...
‘Bond King’ Bill Gross Predicts Q4 Recession: Loan Delinquencies and Regional Banks in the Crosshairs
24.10.2023
Bill Gross, revered as Wall Street’s ‘Bond King,’ foresees a recession clouding the U.S. economy by the year’s final quarter. He pinpoints the burgeoning issue of overdue car payments and the financial strains beleaguering regional banks as catalysts for the impending...
Euroclear Unveils RWA Tokenization Service With World Bank's 100M Euros Digital Bond Issuance
24.10.2023
The digital bond was issued on R3's Corda blockchain, while global bank Citi and investment manager TD Securities assisted in the issuance
Central Banks of China and UAE Sign MoU to Strengthen Digital Currency Cooperation
20.10.2023
The Central Banks of China and the United Arab Emirates (UAE) have recently signed memoranda of understanding (MoUs) relating to digital currencies during the third "Belt and Road" International Cooperation Summit Forum in Beijing this week.
The People's Bank of China (PBOC) has signed...
Inspector General wants FDIC to refine crypto risk assessment process, guidance
18.10.2023
The bank deposit insurer should assess the sufficiency of its risk mitigation measures and then provide them in a more organized manner, the inspector general found
Top U.S. Bank Regulator Faulted for Lack of Crypto Guidance to Banks
18.10.2023
The U.S. Federal Deposit Insurance Corp. (FDIC) has left the banks it oversees unequipped to navigate the regulator's crypto expectations, according to the agency's inspector general, so the FDIC agreed to field a new strategy by January
Central banks want to look under crypto’s hood — Is this a positive sign?
18.10.2023
The mere fact that the Deutsche Bundesbank, BIS and other financial incumbents want such information now suggests a tacit acceptance of crypto
Global Regulator: Crypto Exposure Reporting Should Be Mandatory for Banks
18.10.2023
The Basel Committee on Banking Supervision has underscored the importance of disclosing banks' cryptoasset exposures, emphasizing the need for standardized reporting and greater transparency in the crypto space.
In a consultative document, the committee proposed mandatory reporting requirements...
Banks’ crypto exposure must be disclosed: BIS’ Basel Committee
17.10.2023
The proposed regulations are currently open to the public for comments and if approved they will come into effect by Jan. 1, 2025
Why brand consistency matters and how Web3 companies are failing to deliver
17.10.2023
Choosing a realistic, appealing brand promise to a specific audience can improve the ability to endure difficult markets and strengthen the chances of outlasting the competition
Banks Must Disclose Crypto Exposures, Global Regulator Says
17.10.2023
The guidance will ensure transparency and market discipline, the Basel Committee on Banking Supervision said
FTC Warns Consumers Crypto Deposits Are Not FDIC Insured
17.10.2023
The U.S. Federal Trade Commission (FTC) has warned consumers that crypto deposits are not insured by the Federal Deposit Insurance Corporation (FDIC). “That money isn’t FDIC insured or protected if the crypto company goes under,” the agency cautioned. “If something happens,...
Evergrande’s Economic Tremors Trigger Bank Run in Northern China
17.10.2023
Several reports say that the major Chinese real estate developer Evergrande’s downfall triggered a bank run in northern China last week. The bank run began after rumors spread that the financial institution, Bank of Cangzhou, allegedly loaned billions to the struggling company. This...
Investment Banks See Uncertain Path Ahead as Middle East Crisis Unfolds
16.10.2023
Major U.S. investment banks are urging caution and flexibility as the crisis sparked by a surprise Hamas attack on Israel earlier this month continues to evolve. Analyst notes from JPMorgan and Morgan Stanley provide insight into how Wall Street is interpreting events on the ground and potential...
Scammers prefer banking customers over crypto investors in Ireland: Report
16.10.2023
To date, Irish authorities managed to recover approximately 4 million euro of the 20 million euro that were lost in banking scams since January 2023
Banking Scams Overtake Crypto Frauds in Ireland
16.10.2023
Fraudsters targeting victims in Ireland are increasingly posing as bank officials rather than crypto promoters, the local press reported quoting police. Amid the growing trend, Irish investors have lost millions of euros to this type of schemes this year, with law enforcement authorities having...