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French central bank looks at certification, incorporation as part of DeFi regulation
11.4.2023
The Banque de France presented a well-written consideration of issues related to DeFi and forthcoming MiCA regulation, with suggestions
Wyoming Defends ‘Legitimacy’ of Its Crypto Charter Framework in Custodia Lawsuit
11.4.2023
The state of Wyoming is taking umbrage at the Federal Reserve Board’s insinuations that its regulatory framework for special purpose depository institutions (SPDIs) – state-chartered banks that can handle digital assets – are not up to snuff
Today in Crypto: Ripple Partners with Montenegro Central Bank, Bitmain Facing a $3.6M Fine, Head of Exchange Vishal Gupta Leaving Coinbase
11.4.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: Ripple Partners with Montenegro Central Bank, Bitmain Facing a $3.6M Fine, Head of Exchange Vishal Gupta...
US Presidential Candidate RFK Jr. Says Bitcoin Provides An ‘Escape Route’ From Financial Turmoil
11.4.2023
On Monday, Robert F. Kennedy Jr. once again cautioned the public to be wary of central bank digital currencies (CBDCs), and he insisted that the Biden administration has launched a “steady barrage of hostile broadsides against cryptocurrencies.” Kennedy, who recently filed to run...
DeFi Could Be Forced to Incorporate and Certify, French Central Bank Says
11.4.2023
Regulators are seeking to extend EU laws to cover more diffuse and decentralized structures
Montenegro's Central Bank to Develop CBDC Pilot With Ripple
11.4.2023
The pilot will see the central bank identify the practical application of a national stablecoin and come up with a design to simulate its circulation
Explaining ‘Bank Walks’ — Study Assesses How They Might Affect Credit
11.4.2023
Bank walks are a new liquidity movement phenomenon identified by analysts, characterized by a slow drift of deposits to take advantage of better yield opportunities. Such “walks” might prove to be pernicious to the banking system, as they cannot be stopped and have effects on credit...
Strategist Expects US Recession by Year-End, Fed Tightening to Drag Down Economy
11.4.2023
Investment bank MPS Capital Services has warned that the U.S. economy will be in a recession by year-end. The firm’s strategist predicts that the Federal Reserve will raise interest rates by an additional 25 basis points, warning that the central bank’s monetary tightening “will...
JPMorgan CEO Jamie Dimon Says Banking Crisis Not Over — Warns of ‘Repercussions for Years to Come’
11.4.2023
JPMorgan Chase CEO Jamie Dimon says the U.S. banking crisis is not over and “there will be repercussions from it for years to come.” The executive added that recent bank failures “have significantly changed the market’s expectations,” and the odds of a recession have...
Today in Crypto: 'Now is Best Time to Invest in Web3', Ex-FTX US President Brett Harrison Resigned Due to 'Protracted Disagreement' with Sam Bankman-Fried, Bank of England Building a CBDC Team
10.4.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: 'Now is Best Time to Invest in Web3', Ex-FTX US President Brett Harrison Resigned Due to 'Protracted...
Economists Expect the Fed to Reveal Another 25bps Rate Hike Before Pausing for the Rest of 2023
10.4.2023
After the March rate hike by the Federal Reserve, economists believe that the recent move by Saudi Arabia and several members of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production could complicate the central bank’s mission. Additionally, the majority of...
China Keeps Stockpiling Gold, Adds 18 Tons in March to Reach 2,068 Tons in National Reserve
10.4.2023
The People’s Bank of China (PBOC) reported an increase in the country’s gold reserves of 18 tons in March, continuing its buying spree. China has consistently added to its gold reserves since November, purchasing more than 100 tons in the last five months. The Asian state now has 2,068...
US Bank Lending Drops by Record $105 Billion in Two Weeks, Trillions Moving to Money Market Accounts, Elon Musk Warns ‘Trend Will Accelerate’
9.4.2023
The banking industry in the United States is still struggling after the collapse of three major banks. According to statistics, bank lending in the U.S. has dropped by close to $105 billion in the last two weeks of March, which is the largest decline on record. Additionally, Elon Musk, a Tesla...
‘Not Related to a Digital Currency’ — US Central Bank Addresses Concerns Over Fednow Payment Network
9.4.2023
The U.S. Central Bank has issued an update regarding the Federal Reserve’s Fednow project, which is scheduled to commence in July. The Fed has responded to recent criticism of the Fednow service and asserts that the Fednow payment network is “neither a form of currency nor a step toward...
Bank of England Targets 30-Strong Team for Digital Currency: Report
9.4.2023
Among the positions available: Digital Pound Security Architect and Digital Pound Solutions Architect
CATO Institute: CBDC the ‘Single Largest Assault to Financial Privacy Since Creation of Bank Secrecy Act’
9.4.2023
A central bank digital currency (CBDC) may turn out to be the “single largest assault to financial privacy since the creation of the Bank Secrecy Act,” a policy analysis document released by CATO Institute has said. To stop the U.S. Federal Reserve and Treasury from threatening...
Report: Binance US Struggles to Secure Banking Partner Amid Regulatory Crackdown on Crypto Industry
8.4.2023
Following the collapse of Silvergate Bank, Silicon Valley Bank, and Signature Bank, cryptocurrency companies have been seeking new banking partners in the United States. According to a recent report citing “sources familiar with the matter,” Binance US, the American subsidiary of...
Texas Lawmakers Introduce Bill Proposing to Establish a Gold-Backed Digital Currency
8.4.2023
Two Republican lawmakers from Texas, senator Bryan Hughes and representative Mark Dorazio, have introduced legislation to create a gold-backed digital currency that could be enacted by the state legislature. The policymakers believe that this currency could greatly benefit the Lone Star State...
Binance.US unable to find bank partners in the United States: Report
8.4.2023
The United States arm of global crypto exchange Binance has been facing challenges in establishing a new bank partner
ECB Board Member Warns EU’s New Crypto Rules Not Sufficient
8.4.2023
A European Central Bank Supervisory Board member has warned that the crypto rules in the EU’s Markets in Crypto-Assets (MiCA) bill “will not be sufficient on their own.” While emphasizing that “MiCA will set out important safeguards to prevent incidents similar to the...