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Passing the Burden of Negative Rates to Bank Clients Opens Door for Cryptocurrencies
17.8.2019
Record low and negative interest rates have put commercial banks in a difficult spot. Across Europe, they have been passing the burden to their clients. Some have introduced fees for those with large account balances, while others are punishing everybody equally. In any case, some bankers fear this...
IAMAI Slams RBI for Banning Crypto in India, Says Central Bank has no Such Authority
17.8.2019
IAMAI or Internet and Mobile Association of India has slammed the move by the Reserve Bank of India (RBI) of releasing the circular directing banks to stop serving crypto companies, which literally killed many of them in the country. While arguing in the Supreme Court, the IAMAI counsel Ashim Sood...
How Coinbase Quietly Became the World’s Biggest Bitcoin Bank
17.8.2019
On August 15, the San Francisco-based digital currency exchange Coinbase announced that it had acquired the cryptocurrency custody service Xapo’s institutional branch. The business move puts Coinbase in the limelight, making it the largest custodial service for digital assets worldwide, with...
Hong Kong Protest Leader Hopes to Incite Run on Chinese Banks
16.8.2019
The 11th week of protesting in Hong Kong has passed as the world has witnessed massive sit-ins at the national airport and demonstrations across several locations citywide. The 2019 anti-extradition bill protests have affected Hong Kong’s local economy, investors have dumped on the benchmark...
Shinhan Bank Partners with GroundX and Hexlant to Build Blockchain Enhanced Security System
15.8.2019
One of the most established and most significant banks in South Korea, Shinhan has collaborated with two fintech firms to initiate a new security framework utilizing blockchain technology. Recently, Shinhan Bank inked an MOU (Memorandum of Understanding) with fintech firm Ground X and blockchain...
Ron Paul Slams Fednow Payment System and Encourages Crypto Competition
15.8.2019
Ron Paul, the muckraking former congressman from Texas, is stirring things up once again, this time taking aim at the new real-time digital payment system proposed last week by the U.S. Federal Reserve. Presented as an innovative solution by government and media voices, the cryptosphere received...
Central Banks Worldwide Testing Their Own Digital Currencies
15.8.2019
Central banks worldwide are examining the possibility of issuing a central bank digital currency (CBDC), with some already testing theirs for different uses. Countries that have advanced their digital currency projects include China, Singapore, Canada, the Bahamas, Thailand, Uruguay, and Sweden....
New Zealand’s ASB Bank has Invested in TradeWindow to Develop DLT Trade Platform
15.8.2019
New Zealand’s ASB Bank has invested into a blockchain startup TradeWindow, in a bid to speed up the development of the DLT (distributed ledger technology) trade platform. AJ Smith, TradeWindow Founder, and CEO says the platform considerably reduces the danger of fraud and cybersecurity...
Argentina’s Peso Collapse Shows Governments Shouldn’t Control Money
15.8.2019
Whenever bitcoin experiences a sharp drop or volatility, mainstream media analysts jump to declare that cryptocurrency isn’t stable enough to be considered money. The double-digit crash of the Argentine peso in one day, simply due to an election in the country, can be said to prove the same...
Can Central Bank Digital Currencies Be Used to Fight Financial Crimes?
14.8.2019
Central bank-issued digital currencies could have a great advantage in combating the shadow economy and illegal activities, and they could be a viable alternative to digital currencies like Libra
Anti-Corruption Group Proves Crypto’s True Power: You Can’t Confiscate Math
14.8.2019
Last week in Russia, state agents tore apart the offices of FBK, a privately funded anti-corruption foundation, freezing group assets and more than 100 bank accounts. Officials are using suspicion of money laundering as justification for targeting the largely bitcoin-funded group, possibly in a...
Korea’s Oldest Bank Is Building a Blockchain-Based Security System
14.8.2019
South Korea’s oldest bank, Shinhan Bank, partnered with two other companies to develop a blockchain-based security solution
Shinhan Bank Teams With Kakao’s GroundX for Blockchain Security Boost
14.8.2019
One of the oldest and largest banks in South Korea has partnered with two fintech firms to build a new security system using blockchain tech
RBI’s Power Over Crypto Challenged at Length in Indian Supreme Court Today
14.8.2019
The Indian supreme court resumed hearing the writ petitions against the banking restriction by the central bank, the Reserve Bank of India (RBI), on Wednesday. Many issues were discussed, ranging from the legality of the RBI action to the classification of crypto assets and how each country...
Two Economists. Two Views on Bitcoin’s Ability to Disrupt Fiat Money
14.8.2019
“Half of the audience here is like, ‘I hope you die in a fire.’”
Barclays Is No Longer Banking Coinbase
14.8.2019
Barclays is no longer banking Coinbase, resulting in delayed fiat withdrawals and deposits for the crypto exchange's U.K. users
New Zealand’s ASB Bank Takes Stake in Trade Finance Blockchain Startup
13.8.2019
ABS has invested a "significant" amount in TradeWindow, a startup working to put trade finance on a blockchain
New Zealand Bank ASB Invests in Local Blockchain Trade Platform
13.8.2019
NZ Bank invests in DLT-based platform to streamline global trade
Big Banks Enabled Jeffrey Epstein’s Sex Trafficking Crimes
13.8.2019
Unlike the unfounded narrative that cryptocurrency enables crime, big banks are more than happy to serve unsavory clients if it is lucrative enough for them. The latest example of this is a report that Jeffrey Epstein was apparently using his bank accounts to fund sex trafficking and possibly other...
China’s Central Bank ‘Close’ to Launching Official Digital Currency
12.8.2019
An official at China's central bank has said the institution is nearing the launch of its national digital currency