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UK will hold back action against crypto ‘pockets of exuberance’ for now
13.7.2021
The Bank of England's latest Financial Stability Report took stock of the massive increase in crypto prices and trading activity this year
Indian Bank Blocks Use of RBI’s Remittance System for Crypto While Government Delays Bill
13.7.2021
Major Indian bank ICICI has asked customers not to use the Reserve Bank of India (RBI)’s liberalised remittance scheme (LRS) for any crypto-related investments. ICICI, a leading private sector bank in India, has updated its retail outward remittance application to include cryptocurrency. With...
South Korean Bank Woori Financial to Offer Crypto Custody Services
13.7.2021
Woori Financial Group, one of the biggest financial conglomerates in South Korea, will offer crypto custody services. The bank will develop a joint venture effort with Coinplug, a blockchain-based developing company. This conglomerate signals the third bank entering the market in the country, after...
Payments Provider Clear Junction Stops Processing Payments for Binance
12.7.2021
On Monday, the global payments solutions provider Clear Junction announced it ceased processing transactions for Binance. The move by Clear Junction was brought on by the Financial Conduct Authority’s (FCA) recent warning, according to a blog post written about the decision. Clear Junction...
South Korean internet giants bid for central bank digital currency pilot
12.7.2021
The Bank of Korea plans to select an operator to run a blockchain-based CBDC pilot next month that will test a digital won in various use cases
Nigeria’s June P2P Bitcoin Trade Volumes Surged Again Despite Central Bank’s Crypto Restrictions
12.7.2021
Nigeria’s peer-to-peer bitcoin trade volumes went up to just under $38 million in June 2021, the latest data shows. This surge becomes only the second time Nigerian P2P traded volumes have breached the $35 million mark in 2021. March 2021 is the only other period when P2P bitcoin traded...
Woori becomes latest major Korean bank to announce crypto custody services
12.7.2021
An increasing number of leading South Korean banks are establishing joint ventures with minor ownership to enter the crypto custody market while complying with local regulations
Bank of Ghana Deputy Governor Says ‘Central Bank Digital Currency Is Fiat Money,’ Reveals Pilot Phase Will Start September
12.7.2021
Ghana’s proposed central bank digital currency is similar to fiat cash and therefore financial institutions, as well as fintech start-ups, can still create value based on it, a Bank of Ghana (BOG) official has said. Still, the official, Maxwell Opoku-Afari, the BOG’s deputy governor...
China Has Dispersed Over $40 Million of Digital Yuan in Red Envelopes, Report Reveals
11.7.2021
China, which has arguably the most advanced digital currency project among leading nations, has so far handed out more than $40 million in red envelopes with digital yuan. The promotional campaign for the CBDC is currently focused on five major cities, taking into account their regional development...
Survey: Financial Sector Wants Ukraine’s CBDC to Facilitate Transactions in the Crypto Market
11.7.2021
A survey conducted among financial professionals has indicated that the industry wants Ukraine’s future digital currency to be used as a tool in the crypto space. The financial sector also favors a blockchain design for the e-hryvnia that would allow peer-to-peer transfers and fuel...
Crypto.com Becomes Malta’s First Licensed Digital Currency Exchange to Offer Bank Transfers
11.7.2021
The digital asset trading platform Crypto.com has announced the firm has become the first global cryptocurrency exchange to obtain an Electronic Money Institution (EMI) license from the Malta Financial Services Authority (MFSA). According to the announcement, Crypto.com’s EMI license will...
Thailand Sees Rising Adoption of Cryptocurrencies as Means of Payment — Warns of Risks
11.7.2021
Bank of Thailand says a growing number of companies are asking for payments in cryptocurrencies, such as bitcoin and ether. The central bank reiterates its stance on crypto and warns of the risks of using them as a means of payment. The Bank of Thailand (BOT), the country’s central bank...
Majority of Salvadorans Skeptical of BTC as Currency, Poll Finds
10.7.2021
President Nayib Bukele’s adoption of cryptocurrency as legal tender in his country is not being met with deep understanding by most of his fellow Salvadorans, a new survey suggests. Almost half of the respondents admitted they knew nothing about Bitcoin, while two-thirds aren’t ready...
Pandemic has accelerated the rollout of CBDCs by 5 years, says blockchain firm
9.7.2021
"There is also no doubt in our mind that a major central bank will soon launch a digital currency and we expect this to happen within the next three years," said Guardtime
After Barclays, Santander Bank Blocks Payments to Binance in UK Citing Customer Protection
9.7.2021
Santander Bank in the U.K. has become the latest high street bank in the country to block fund transfers to cryptocurrency exchange Binance. Recently, Barclays and Natwest banks reportedly made a similar move. A number of Santander Bank customers reported on social media that they have received...
IMF, World Bank and BIS champion central bank digital currencies at G20
9.7.2021
A new report released by the triumvirate of global finance argues that central bank digital currencies will benefit worldwide development
11% of Central Bankers Consider ‘Cryptocurrencies Like Bitcoin’ Gold Alternatives: UBS Survey
9.7.2021
A UBS survey finds that central bankers see benefits in investing in cryptocurrencies like bitcoin. 28% see benefits from cryptocurrency being an uncorrelated asset and “11% would consider it as an alternative to gold.” Central Bankers See Benefits in Investing in Cryptocurrencies Like...
Shanghai Man: Central bank speaks out, BTC searches down and HK fund backs Animoca
9.7.2021
PBoC says no to virtual currencies, Jack Ma's fund invests $50m into NFT game maker, searches for BTC in China at 90 day low
Bank of America Establishes Cryptocurrency Research Team
9.7.2021
Bank of America has become the latest major bank to make a foray into the cryptocurrency sector. According to an internal memo, the bank has created a team dedicated to researching cryptocurrencies. Bank of America believes that it is “uniquely positioned to provide thought leadership”...
First Midwest Bank Trust Division increases Grayscale Bitcoin Trust holdings by 283%
8.7.2021
A report on the firm's holdings to the SEC for Q2 2021 revealed the bank's trust division had 29,498 shares in Grayscale's Bitcoin Trust, worth more than $880,000