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The Biggest Bank Heist in History Is Coming
14.3.2024
Regulators are permitting banks to tokenize financial assets such as bank deposits, U.S. Treasuries and corporate debt. But they want institutions to use permissioned networks rather than the decentralized blockchains that keep assets safe from hackers
Crypto.com Faces Regulatory Hurdle with Dutch Central Bank Fine
14.3.2024
De Nederlandsche Bank (DNB), the central bank of The Netherlands, has imposed a major fine on crypto exchange Crypto.com.
The post Crypto.com Faces Regulatory Hurdle with Dutch Central Bank Fine appeared first on Cryptonews
DeFi Borrower Behavior Key to Gauging Tokenization Risks: BIS Study
14.3.2024
The study was designed to look at the largely unexplored "intricacies" of user behavior and dynamics of decentralized finance lending, the authors said
Global Surge in CBDC Exploration Leaves US Playing Catch-Up: Study
14.3.2024
An Atlantic Council study showed that 134 countries, or 98% of the global Gross Domestic Product (GDP), are currently exploring a central bank digital currency (CBDC). This number has surged from just 35 since May 2020.
The post Global Surge in CBDC Exploration Leaves US Playing Catch-Up: Study...
Financial Markets Tense as Inflation Rise Suggests US Central Bank May Keep Rates Steady
13.3.2024
The U.S. Consumer Price Index (CPI), experienced a 3.2% increase over the 12 months ending in February, marginally higher by 0.1% compared to January’s CPI. This development is not being well-received by the financial markets, as the U.S. Federal Reserve might postpone any reductions in...
Crypto Exchange OKX Granted In-Principle Approval to Offer Services in Singapore
13.3.2024
Crypto exchange OKX said Wednesday that it received in-principle approval for a digital asset license from Singapore's central bank. This marks a significant step towards achieving full regulatory compliance in the country.
The post Crypto Exchange OKX Granted In-Principle Approval to Offer...
Sweden’s Central Bank Chief Cautions Against Bitcoin Integration Due to Speculative Nature
12.3.2024
Sweden's Central Bank Governor, Erik Thedeen, advocates for minimal Bitcoin adoption within the nation's financial system. He emphasizes concerns about Bitcoin's speculative valuation and potential investor losses.
The post Sweden’s Central Bank Chief Cautions Against Bitcoin Integration...
Israel Plans to Launch Interest-Bearing CBDC – Here’s What You Need to Know
12.3.2024
On March 11, the Central Bank of Israel unveiled plans for a Central Bank Digital Currency (CBDC). Known as ‘digital shekel’ the unique CBDC will be interest-bearing, marking a departure from existing digital currencies.
The post Israel Plans to Launch Interest-Bearing CBDC – Here’s What...
Sweden’s Central Bank Chief Wants 'as Little Bitcoin as Possible' in Country's Financial System: Bloomberg
12.3.2024
Sweden's central bank governor said he wants "as little bitcoin as possible in the Swedish financial system."
Hong Kong Central Bank Unveils Sandbox for Stablecoin Issuers to Test Operations
12.3.2024
Hong Kong's central bank on Tuesday introduced a sandbox program for stablecoin issuers. This initiative offers a controlled environment for potential issuers to experiment with stablecoin projects in a risk-free manner.
The post Hong Kong Central Bank Unveils Sandbox for Stablecoin Issuers to Test...
Economic Intelligence Unit: Nigerian Central Bank Lacks Capacity to Defend Local Currency
12.3.2024
The Economic Intelligence Unit has stated that the Central Bank of Nigeria cannot halt the rapid depreciation of the local currency. The continued volatility of the naira is expected to result in erratic regulation, primarily affecting businesses that hold foreign exchange. Nigeria Presses Ahead...
Hong Kong's Central Bank Starts Regulatory Sandbox for Stablecoin Issuers
12.3.2024
The regulator invited applicants with a "genuine interest in developing a stablecoin issuance business" to join the sandbox
Central Bank of the Philippines to Complete Wholesale CBDC Pilot This Year, Hints at Securities Focused Use Case
11.3.2024
The Central Bank of the Philippines revealed that it aims to conclude the ongoing wholesale CBDC pilot, Project Agila, later this year. The pilot, which currently includes the participation of six local financial institutions, might be the gate for democratizing access to securities according...
South Korea’s Crypto-keen K Bank Aims for IPO Amid BTC Boom
11.3.2024
K Bank, a South Korean neobank that has seen rapid growth thanks laregely to its crypto operations, is set to make an initial public offering (IPO) bid.
The post South Korea’s Crypto-keen K Bank Aims for IPO Amid BTC Boom appeared first on Cryptonews
Speculation Intensifies Over US Banking Sector’s Fate as Fed’s BTFP Closure Looms
10.3.2024
This weekend, many are intrigued by the potential outcomes following the cessation of the U.S. Federal Reserve’s Bank Term Funding Program (BTFP), launched amidst the significant banking collapses in March 2023. Some argue that the banking turmoil is far from over, suggesting it has merely...
Nigerian Central Bank, Real-World Asset Firm Partner to Revive Struggling CBDC
9.3.2024
Gluwa, a platform for real-world assets, announced on March 7 its partnership with the Central Bank of Nigeria. The partnership arrangement aims to improve the functionality of the Nigerian central bank’s digital currency and promote financial innovation through blockchain technology. Improving...
Philippine Central Banker Unveils Project Agila: A Leap into wCBDC Pilot
8.3.2024
The central bank of the Philippines (BSP) aims to complete a CBDC pilot by the end of the year, according to a local press report. Central bank Deputy Governor for Payments and Currency Management Mamerto Tangonan told a press briefing Wednesday: “For CBDC… our timeline for that is to complete...
Jerome Powell Clarifies: US Far From Introducing a Central Bank Digital Currency
8.3.2024
Federal Reserve Chair Jerome Powell stated before the Senate Committee on Banking, Housing, and Urban Affairs that the United States is far from adopting or even recommending the introduction of a central bank digital currency (CBDC), emphasizing a significant distance from such a possibility....
Crypto Wallet Provider SafePal Invests in Swiss Bank to Enable Banking Services for Crypto Users
7.3.2024
SafePal has made a strategic investment in Swiss bank Fiat24, aiming to provide users with a banking gateway to pay for expenses using digital assets and transfer funds to compliant banks.
The post Crypto Wallet Provider SafePal Invests in Swiss Bank to Enable Banking Services for Crypto Users...
Fed Chair Powell Eases CBDC Concerns: US Far From Direct Fed Accounts, Emphasizes Need for Congressional Approval
7.3.2024
Federal Reserve Chairman Jerome Powell engaged with the Senate Banking Committee, signaling that the U.S. is just beginning to contemplate the introduction of a central bank digital currency (CBDC). Powell Assures No Direct Fed Accounts in CBDC Plans, Seeks Congressional Go-Ahead In...