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Federal Reserve Fines Citigroup $60.6 Million for Ongoing Risk Management Deficiencies
10.7.2024
The U.S. Federal Reserve has imposed a $60.6 million fine on Citigroup for continued failures in its risk management and data quality practices. The enforcement action follows Citigroup’s insufficient progress in addressing deficiencies identified in a 2020 order. Citigroup Faces $60.6...
Crypto for good: Why blockchain can bring financial inclusion worldwide
10.7.2024
John Wingate of BankSocial and Azeem Khan of Morph tell The Agenda podcast how crypto and blockchain can make the world a better, more equitable place
Bank of Italy to release crypto guidelines in ‘coming days’ — Governor
10.7.2024
Italy’s central bank will soon share how the country should apply the EU’s MiCA crypto laws, with its governor slamming Bitcoin and Ethereum as “unbacked” cryptocurrencies
UBS Executive Highlights AI’s Impact on Banking
6.7.2024
UBS is witnessing a transformative shift in client interactions driven by artificial intelligence, according to Sabine Keller-Busse, the head of the Swiss bank’s domestic business. Keller-Busse compared the change to how patients now approach doctors with self-diagnosed conditions. UBS Sees...
Nigerian central bank alleges unauthorized transactions by Binance
6.7.2024
In a Nigerian court on Friday, July 5, Binance's illegal operations were highlighted, with Central Bank official testifying on lack of necessary licenses and regulatory approval
Crypto exchanges subject to EU Travel Rule in 6 months
5.7.2024
New EU regulations mandate crypto exchanges to comply with Travel Rule Guidelines, enhancing AML/CFT measures starting Dec. 30
UAE’s Zand Bank to Offer Crypto Services
4.7.2024
Zand Bank, the UAE’s first digital bank, has entered into a strategic partnership with Taurus SA, a global leader in digital asset technology for banks. This partnership will cover all aspects of Zand’s digital asset infrastructure, including custody, tokenization, and blockchain...
Global Banking Standard Setter Approves Disclosure Framework for Crypto Exposures
3.7.2024
The Basel Committee's framework, based on responses to a December 2022 discussion paper, must be implemented by 2026
TradFi Liquidity Stress Indicator Surges. What Does It Mean for BTC?
3.7.2024
The secured overnight financing rate surged Monday, indicating liquidity stress in the U.S. banking system
Paypal Ventures-Backed Mesh Partners With Conio to Launch Open Banking Solutions for Bitcoin in Europe
3.7.2024
Mesh, a U.S. fintech company backed by Paypal Ventures, has partnered with Italian digital asset wallet Conio to enhance cryptocurrency exchange access for Conio’s 430,000 customers. This collaboration allows users to access 10 leading crypto exchanges, including Binance and Coinbase, through...
Paxos gains approval for Singapore stablecoin launch with DBS partnership
2.7.2024
Paxos will partner with Southeast Asia’s largest bank, DBS, for the stablecoin launch
Report: Market Analyst John Hussman Warns of Major Downside for S&P 500
1.7.2024
John Hussman, a prominent market strategist known for predicting the 2000 and 2008 crashes, warns of a significant downside for the S&P 500. Hussman highlights elevated asset prices and narrow market participation, suggesting a potential decline of 50-70%. Analyst Predicts Major Stock Downturn...
Egyptian Fintech Startup Connect Money Secures $8 Million Seed Funding
28.6.2024
Connect Money, an Egyptian fintech startup, recently secured $8 million in seed funding. The company plans to launch new business verticals using this investment. Connect Money aims to become the go-to platform for businesses seeking seamless banking services. Successful Capital Raise Demonstrates...
US Fed CIO says it’s ‘hard to justify’ hiring human coders over AI
27.6.2024
The Federal Reserve’s leadership seemingly views generative AI as a “super analyst” capable of turbocharging the agency’s work process
Coinbase sues SEC and FDIC over FOIA requests
27.6.2024
Coinbase's lawsuits target the SEC and FDIC for alleged non-compliance with FOIA requests regarding Ethereum's PoS transition
Banking Giant Santander to Offer Cryptocurrency Trading Services in Brazil
27.6.2024
Santander, the multinational banking giant, has recently announced that it will start offering cryptocurrency trading services in Brazil. The bank will roll out this functionality to selected customers of Toro, its investment unit, this week and will gradually extend it to more users in the future....
Analyst Warns of US Banking Sector Troubles, Foresees Stock Market and Bitcoin Slide
24.6.2024
While U.S. federal regulators, including the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, have identified concerns with the crisis management tactics of four banks, in a recent interview with Kitco, market strategist Gareth Soloway expressed concerns. Soloway suggests...
MEBIS Dubai to showcase latest banking technologies and trends at upcoming event
24.6.2024
The Middle East Banking Innovation Summit 2024 (MEBIS), an exclusive gathering of industry leaders, innovators, and experts, is set to host its 15th edition from September 18-19, 2024, at the prestigious JW Marriott Marina Hotel. This highly anticipated event will delve into various topics...
Latam Insights: Salvadoran Government Introduces Bitcoin Banking Bill, Bitcoin to Compete With Other Currencies in Argentina
24.6.2024
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: The Salvadoran government pushes a bitcoin banking bill, president Milei states bitcoin will compete with other currencies in Argentina, and the Wasabi Wallet...
Banking Sector Poses Highest Money Laundering Risk, Singapore’s Central Bank Says
24.6.2024
According to the Money Laundering Risk Assessment Report by Singapore’s central bank, the banking sector is identified as the highest money laundering risk to the country. The report also highlights risks related to digital assets and cryptocurrencies. To mitigate these risks, the Monetary...