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Latest Global Findex Survey: Share of Adult Population with a Bank Account Now 76% — 1.4 Billion Adults Still Unbanked
16.7.2022
Between 2011 and 2021, the share of the world’s adult population that had bank accounts rose from 51% to 76%, the findings of the latest World Bank Global Financial Index survey have shown. About 1.4 billion adults are, however, still unbanked, not having the money or the identification...
Report: Nigerian Fintech Giant Flutterwave Accused of Laundering Money, More Than 50 Bank Accounts Frozen
8.7.2022
A Kenyan agency charged with tracing and freezing proceeds of crime said it recently obtained an order giving it the authority to freeze bank accounts belonging to Nigerian fintech Flutterwave. The agency alleges that Flutterwave is not providing merchant services as per claims, but is instead...
Kazakhstan Allows Registered Crypto Exchanges to Open Accounts at Local Banks
17.6.2022
Government officials in Kazakhstan have approved regulations that will govern interactions between authorized coin trading platforms and traditional financial institutions. The new rules will allow registered cryptocurrency exchanges to have bank accounts in the country. Pilot Project to Develop...
Kazakhstan to let crypto exchanges open bank accounts
16.6.2022
Exchange platforms will get an opportunity to operate legally in Astana international finance center in 2022
Middle East Crypto Exchange Coinmena Enters the Qatari Market, Regulator Says No Institution Licenced
23.5.2022
Coinmena, the Bahrain-based cryptocurrency exchange, recently announced that residents of Qatar can now buy and sell cryptocurrencies on its platform. The cryptocurrency exchange claimed it is the first regulated digital asset exchange to open its platform to Qatari residents. Residents Can...
Iran Blocks 9,200 Bank Accounts Over Suspicious Foreign Currency, Crypto Transactions
17.5.2022
Iran’s Ministry of Intelligence has reportedly blocked almost 10,000 bank accounts over suspicious foreign currency and cryptocurrency transactions. The action was carried out in collaboration with the country’s central bank. 9,219 Bank Accounts Blocked Iran’s Ministry...
Report: Nigerian CBDC Wallet Update to Enable Utility Payments, USSD Functionality to Be Added
11.5.2022
The Nigerian central bank digital currency (CBDC) wallet app is set for an update that will see users given the ability to pay for utilities like pay television and for topping up airtime. The addition of the unstructured supplementary service data (USSD) functionality to the wallet app means...
Apple Pay to halt support for Russian banks sanctioned on war in Ukraine
25.2.2022
Russians cashed out over $1.3 billion from banks on the first day of Russia’s invasion of Ukraine, the largest amount since the onset of COVID-19
Canadian Regulator Alerts Police to Tweets by Coinbase and Kraken Advocating Non-Custodial Wallets
23.2.2022
Canada’s securities regulator has flagged tweets by Coinbase CEO Brian Armstrong and Kraken CEO Jesse Powell encouraging people to use non-custodial wallets to evade freeze orders by the Trudeau government. “We are aware of this information and have shared it with the RCMP...
Trudeau’s Government Warns More Accounts Will Be Frozen — Freedom Convoy Truckers Hold Their Ground
18.2.2022
The Canadian government has warned that more financial accounts and cryptocurrency wallets will be frozen as law enforcement attempts to end the Freedom Convoy trucker protest. However, truckers are standing their ground even after the police arrested two protest organizers. Prime Minister Justin...
Canadian Gov’t Says It Has Frozen Crypto-Related Bank Accounts – and Will ‘Freeze More’
18.2.2022
The Canadian government is going ahead with its controversial moves to end the “truckers’ protest” over COVID-19 restrictions that has brought much of the nation to a standstill – by freezing bank accounts and sharing crypto addresses with financial institutions in an effort to cut...
JPMorgan Chase Closes Uniswap Founder's Bank Accounts & Offers Help
24.1.2022
Hayden Adams. Source: A video screenshot, Youtube/Fluidity
Hayden Adams, the creator of major decentralized exchange Uniswap, said that American banking giant JPMorgan Chase closed his banking accounts with “no notice or explanation.”
"I know many individuals and companies who have been...
US Lawmaker Launches Bill to Prohibit the Fed From Issuing Digital Currency Directly to Individuals
14.1.2022
A U.S. lawmaker has introduced a bill in Congress to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals. “It is important to note that the Fed does not, and should not, have the authority to offer retail bank accounts,”...
Pakistan Freezes Over 1,000 Accounts and Cards Used For Crypto Trading
30.12.2021
Authorities in Pakistan have reportedly moved to seize hundreds of bank accounts and cards belonging to cryptocurrency traders. According to local media, they have been allegedly used to make transactions worth close to $300,000 through digital asset exchanges, including major platforms. Pakistan...
Nigerian Crypto and Blockchain Advocacy Group: Freezing or Closure of Bank Accounts Not Supported by Law
23.11.2021
The Blockchain Industry Coordinating Committee of Nigeria (BICCON), has said it is not lawful for Nigerian financial institutions to arbitrarily freeze or close bank accounts belonging to individuals or entities accused of trading cryptocurrency. Affected Crypto Entities Told to Seek Legal Advice...
Nigerian Judge Rules in Favor of Accused Crypto Startup, Accounts to Be Reopened
27.10.2021
A Nigerian Federal Court judge recently ruled that the two frozen bank accounts belonging to Rise Vest Technologies, which is accused of trading cryptocurrencies, must be reopened. CBN’s Bank Account Freeze Order Dismissed In a ruling that overturns the Central Bank of Nigeria (CBN)’s...
Colombian Government Might Take Unused Funds From Bank Accounts Inactive for a Year
26.10.2021
The budget law for the next year, which was recently approved by the Colombian representative’s chamber, includes a controversial article that allows the state to confiscate a bank customer’s funds to be used for budgetary purposes. Under certain circumstances defined by the...
Spellfire: NFT That You Can Actually Touch
20.9.2021
In recent months NFT or as it coded, non-fungible tokens became a hot topic that everyone is talking about. NFT is a valuable model of digital ownership from which you could make money. If you have paper money or money in your bank accounts, you can buy, rent, sell, invest and be an active player...
IRS, Janet Yellen Press Lawmakers to Push ‘Tax Compliance Agenda’ — Banks to Report Deposits, Withdrawals of $600
16.9.2021
On Wednesday, U.S. Internal Revenue Service (IRS) commissioner Charles Rettig and Janet Yellen, the Treasury secretary, urged lawmakers to give the IRS permission to report annual inflows and outflows from American bank accounts. Regardless of tax liability, financial institutions across...
JPMorgan Chase reportedly shuts down bank accounts of Bitcoin mining firm
19.8.2021
Delaware-based Compass Mining offers U.S. citizens exposure to Bitcoin mining via its private infrastructure