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Zondacrypto CEO: MiCA Regulations Will Stop ‘Rogue Exchanges’ From Profiting From Criminal Activity
26.5.2023
Although the implementation of the recently approved Markets in Crypto Assets (MiCA) regulations is likely to be difficult, their coming into force is going to have a positive outcome for everyone in the industry, Przemyslaw Kral, the CEO of the crypto exchange Zondacrypto, has said. Kral also...
UAE’s Clear Rules and Openness to ‘Experimentation’ Key to Attracting Crypto Firms, Says Ben Caselin of Maskex
26.5.2023
Players in the crypto space are attracted to the United Arab Emirates (UAE) because the region not only has clear rules but is also “open to experimentation,” Ben Caselin, the Vice President and Chief Strategy Officer (CSO) at the crypto exchange Maskex, has said. Caselin also said...
IMF Foresees No ‘Rapid Shift’ in US Dollar Reserves Despite Rising De-Dollarization Trend
26.5.2023
The International Monetary Fund (IMF) does not expect a “rapid shift” in the U.S. dollar reserves despite a rising de-dollarization trend and a looming U.S. debt default. “Don’t kiss your dollars goodbye just yet,” said IMF Managing Director Kristalina Georgieva. The IMF chief does not expect...
Crypto Exchange Hotbit Says ‘Deteriorating Conditions’ Forced It to Stop Operations
25.5.2023
China-headquartered cryptocurrency exchange, Hotbit, said on May 22 it had made the decision to halt “all cex operations.” The crypto exchange pointed to the “continuous outflows of funds from cex [centralized exchange] users” as one of the many factors that forced Hotbit...
Study: Africa Likely to Leapfrog Leading Fintech Regions if It Adopts New Technologies
25.5.2023
Africa will likely leapfrog the top fintech regions if startups on the continent adopt new technologies, the Global Fintech 2023 report by the Boston Consulting Group and QED Investors has said. The report points to the African continent’s young population as well as the projected population...
Today in Crypto: Crypto Hacks Drop 70% in Q1 2023, Binance CSO Said Reuters' 'Weak' Article is Filled with Conspiracy Theories, Solana Integrates AI with a ChatGPT Plugin
24.5.2023
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: Crypto Hacks Drop 70% in Q1 2023, Binance CSO Said Reuters' 'Weak' Article is Filled with Conspiracy...
Fed Survey: US Household Financial Well-Being ‘Declined Markedly’ in 2022
24.5.2023
A survey by the U.S. Federal Reserve shows that American household financial well-being “declined markedly” in 2022. The share of adults who said they were worse off financially than a year earlier rose to “the highest level since the question was first asked in 2014,”...
China, Russia Urged to Speed Up Creation of ‘Cutting Edge’ Payment Infrastructure for BRICS and SCO Currencies
24.5.2023
The chairman of Russia’s national economic development institution VEB.RF has urged China and Russia to speed up the establishment of a new, “cutting-edge” payment system for currencies of Shanghai Cooperation Organization (SCO) and BRICS nations. “Our relations with China keep getting...
Ripple CEO: ‘Confusing’ US Crypto Rules Benefiting Europe
23.5.2023
The United States’ confusing crypto regulations have forced firms like Ripple to consider investing outside the country, and Europe has been a “significant beneficiary” of this confusion, Brad Garlinghouse has said. The Ripple CEO suggested that the United States needs to emulate...
Federal Reserve Chair Powell Hints at Possible Pause in Interest Rate Hikes
22.5.2023
Federal Reserve Chair Jerome Powell has hinted that the Fed may pause raising interest rates at the Federal Open Market Committee (FOMC) meeting next month. “Having come this far, we can afford to look at the data and the evolving outlook and make careful assessments,” Powell said. Fed Chair Jerome...
Africa and Asia-Focused Fintech Jia Raises $4.3 Million in Seed Funding Round
21.5.2023
Jia, a blockchain fintech startup, recently revealed it has raised $4.3 million in a seed funding round which was led by the early-stage consumer crypto fund TCG Crypto. Jia has said it will use the funds raised to bolster its Kenyan and Philippines operations. Later, Jia will also use the capital...
Robert Kiyosaki: US Economy Headed for Crash Landing, Financial Pandemic Started, Corruption High
21.5.2023
Rich Dad Poor Dad author Robert Kiyosaki believes that the U.S. economy is headed for a crash landing. “I hope I am wrong yet that is what I believe,” he opined. The famous author also said a financial pandemic has started and corruption is high, reiterating his recommendation to...
Study: 40% of Surveyed African Banks See Fintech and Telcos as ‘High Threats’
20.5.2023
About 40% of 153 African banks surveyed by the latest African Banker annual report said they regard “fintechs and telcos as high threats,” while 69% see artificial intelligence as the “most important technology shaping the industry in the near future.” According to...
‘In Hindsight the Metaverse Will Be Obvious and Inevitable’ Says Affyn CEO Lucaz Lee
20.5.2023
Despite the many obstacles that currently make mainstream adoption seem impossible, the metaverse will eventually “mature when gateways that form the access point for entering the myriads of metaverses come onstream,” Lucaz Lee, CEO of Affyn, has said. Lee suggested that when this point...
Binance Halts Deposits and Possibly Withdrawals for Aussie Users After Being Cut Off by Australian Payment Service Provider
19.5.2023
Binance Australia said on May 18 that it is “unable to facilitate PayID AUD deposits for Binance users” due to a third-party payment service provider’s decision to discontinue support for the crypto exchange. Binance Australia said while it works to find an alternative, users...
Report: Well Known Crypto Firms Still Not Adhering to Basic Governance Standards
18.5.2023
Many of the most well-known crypto firms are not adhering to basic governance standards, the findings of a Bloomberg survey have shown. Only 31 out of the 60 polled firms “currently procure a full financial audit or reserve attestations from an independent auditor.” Industry...
Report: Biden Administration ‘Crypto Tsar’ Says DOJ will Target Digital Asset Exchange Platforms
17.5.2023
According to Eun Young Choi, the head of the crypto unit at the U.S. Department of Justice (DOJ), the United States has resolved to target digital platforms because they are making it easy for criminals and money launderers. Choi said the DOJ hopes taking action against entities such as crypto...
Indonesia Introducing New National Payment System to Protect Against ‘Geopolitical Consequences’
17.5.2023
Indonesia is introducing a new national payment system as the country furthers its de-dollarization efforts and protection against “possible geopolitical consequences.” The new payment system will replace Visa and Mastercard in state-owned institutions and companies, a top central bank...
Former Signature Bank Chairman Said the Bank Cut Back on Digital Asset Deposits in Wake of Volatility
16.5.2023
Crypto-friendly Signature Bank “significantly’ cut back on digital asset deposits in the wake of increased volatility and regulators' concerns at the end of last year, said the former chairman and co-founder of the now-shuttered bank.
“Unfortunately, a series of truly extraordinary...
IRS, Chainalysis Helping Ukraine Track Russians Using Crypto to Evade Sanctions
14.5.2023
The U.S. Internal Revenue Service (IRS) said it’s working closely with Ukraine to help it trace crypto transactions of Russian sanctions evaders. The agency is providing the Ukrainians access to a Chainalysis tool as well as specialized training to Ukrainian law enforcement. IRS Offers Ukraine...