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Bitcoin, Ethereum Technical Analysis: BTC Moves Briefly Back Above $25,000
16.3.2023
Bitcoin briefly moved back above $25,000 on Thursday, as markets rebounded from a volatile session the day prior. The potential collapse of Credit Suisse was somewhat averted, following an intervention from the Swiss National Bank, which has helped calm markets. Ethereum mostly consolidated...
Stop Blaming Crypto for Traditional Finance Failures
16.3.2023
After the recent collapse of three banks – Silicon Valley Bank, Silvergate Bank and Signature Bank – many pointed fingers at crypto as the cause. But crypto may actually be the solution, not the problem
After Presidential Rebuke, Nigeria’s Central Bank Says Demonetized Naira Banknotes Still Legal Tender
16.3.2023
The Nigerian central bank has said the recently demonetized ₦200, ₦500 and ₦1,000 banknotes will remain legal tender until Dec. 31, 2023. The central bank statement, which reaffirms a Supreme Court ruling that extended the lifespan of the demonetized naira banknotes, followed a rebuke of the CBN...
RBI and the Central Bank of UAE sign an MoU to promote innovation
16.3.2023
RBI (Reserve Bank of India) and CBUAE (Central Bank of the United Arab Emirates) recently signed an MoU (Memorandum of Understanding.) The development will allow the central banks to promote better collaboration and innovation in the financial domain. According to the MoU, both financial...
FDIC asked Signature buyers to stop all crypto business: Report
16.3.2023
The FDIC regulators have reportedly required any buyer of Signature to agree to give up all cryptocurrency business at the bank
Crypto acted as safe haven amid SVB and Signature bank run: Cathie Wood
16.3.2023
Cathie Wood said the ongoing baking crisis is a total Fed policy failure and could have been averted with crypto’s decentralized solutions
Signature Bank’s Prospective Buyers Must Agree to Give Up All Crypto Business: Report
16.3.2023
The Federal Deposit Insurance Corporation (FDIC) has reportedly asked banks interested in acquiring the shuttered New York institution to submit bids by Friday
India, UAE Collaborate to Boost Cross-Border Central Bank Digital Currency Transactions
16.3.2023
India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency...
Strategist Warns Credit Suisse Next to Collapse — Says ‘There’s a Run on the Bank’
16.3.2023
Market strategist Greg Foss has predicted that Credit Suisse will be the next major bank to collapse, citing capital trouble and a run on the bank. The Swiss banking giant has also identified “material weaknesses” in its financial reporting controls. Its shares plunged on Wednesday...
Blame traditional finance for the collapse of Silicon Valley Bank
16.3.2023
Silicon Valley Bank’s downfall was a product of traditional finance — critics shouldn’t conflate the issue with cryptocurrency
Crypto firms may turn to ‘shadow banks’ following major collapses — Molly White
15.3.2023
Speaking at the SXSW conference in Austin, Molly White compared crypto companies' current predicament to that in 2017 and 2018, when they had “trouble accessing banking”
UK Treasury Budget Discusses Separate Reporting of Crypto Assets in Tax Documents
15.3.2023
Taxpayers in the United Kingdom will have to report cryptocurrency assets separately in their tax documents for the tax year 2024-25, according to the Exchequer’s recently published spring 2023 budget. New Criminal Offenses Planned by U.K. Government to Combat Tax Avoidance Amid the chaos...
Senator Warren says Fed chair 'has to recuse himself' from reviewing regulatory failures
15.3.2023
Jerome Powell called for a “thorough, transparent, and swift review” of the Federal Reserve's supervision and regulatory activities following Silicon Valley Bank's closure
Swiss National Bank says it would support credit Suisse if necessary
15.3.2023
Swiss regulators reaffirm the soundness of the Swiss financial system, following recent concerns about Credit Suisse
Bitfury CEO: U.S. Government Using Crisis to Choke Off Crypto Access to Banks
15.3.2023
Brian Brooks, former head of the OCC and now board member of blockchain technology company Bitfury, says the recent crackdown by regulators on three crypto-friendly banks appears to be a coordinated effort and what some are dubbing "Operation Choke Point 2.0"
Why isn't the Federal Reserve requiring banks to hold depositors' cash?
15.3.2023
The fact that most banks aren’t required to keep your money on hand makes it likely that more bank failures will occur in the months ahead
British Bank Natwest Implements New Limits on Cryptocurrency Payments to Combat UK Crypto Scams
15.3.2023
On March 14, 2023, the U.K.-based bank Natwest Group announced new limits on cryptocurrency payments, citing crypto scams that cost U.K. consumers £329 million annually. The limit imposed on crypto exchanges is £1,000 daily ($1,215), with a 30-day limit of £5,000 ($6,077). Natwest’s Cautious...
US lawmaker accuses FDIC of using banking instability to attack crypto
15.3.2023
The collapse of Signature Bank, Silicon Valley Bank, and Silvergate Bank has had many in the space reeling — but is the U.S. government trying to "choke off digital assets”?
Silvergate Was Not Cut Off From Loans, FHLB Says
15.3.2023
The Federal Home Loan Bank of San Francisco, the bank that supplied $4.3 billion to Silvergate late last year, did not force Silvergate to repay the advances which have been rumored to be the reason why the crypto-friendly bank had to go into voluntary liquidation, it said
Don’t Get Your Hopes Up: SVB's Demise Won't Bring Interest Rates Down
15.3.2023
The Federal Reserve’s new Bank Term Funding Program is a backstop for banks – but also a license to let interest rates rip