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IMF Urges Fed to Maintain Tightening Policy Amid Inflation Concerns, Citing ‘Challenges’ Ahead
9.6.2023
On Thursday, International Monetary Fund (IMF) spokesperson Julie Kozack urged the U.S. Federal Reserve and several other central banks to maintain a restrictive monetary policy known as tightening. Kozack stated that the U.S. central bank may need to keep the federal funds rate higher “for...
As Traditional Banks Step Back, New Players Fill Gap in Crypto Banking
9.6.2023
With traditional banks becoming more cautious about servicing the cryptocurrency industry, smaller regional banks and alternative payment service providers are stepping up to fill the gap.
In the US, Customers Bancorp, a Pennsylvania-based lender, has become a popular choice, having launched...
Chinese State-Owned Banks Cut Dollar Deposit Rates — Dismiss Government Influence Claims
9.6.2023
Major Chinese state-owned banks have lowered interest rates on U.S. dollar deposits. However, they reportedly dismissed claims that the moves were influenced by the Chinese government, stating that the rate cuts were market-driven. Chinese Banks Reduce Dollar Deposit Rates Major Chinese state-owned...
Regulators Uncover Binance's Billions of Dollars Transactions Through U.S. Banks
8.6.2023
A new filing from the U.S. Securities and Exchange Commission suggests that Binance moved billions of dollars in customer funds through Signature Bank and Silvergate Bank – both crypto-friendly U.S. firms that failed in March. ...
Read More: Regulators Uncover Binance's Billions of Dollars...
Regulators Uncover Binance's Billions of Dollars Transactions Through U.S. Banks
8.6.2023
A new filing from the U.S. Securities and Exchange Commission suggests that Binance moved billions of dollars in customer funds through Signature Bank and Silvergate Bank – both crypto-friendly U.S. firms that failed in March. ...
Read More: Regulators Uncover Binance's Billions of Dollars...
Banks Have Come to the Metaverse
8.6.2023
JPMorgan, HSBC and others have created metaverse-native banking experiences, hoping to entice a new generation of clients
Tel Aviv Stock Exchange completes proof of concept to tokenize fiat and bonds
7.6.2023
In its proof of concept, TASE minted the first ERC-1155 security token representing a dummy digital government bond
Russian P2P Crypto Market Is ‘Worth $296m a Day’ – Are Banks in Danger?
6.6.2023
The Russian P2P (peer-to-peer) crypto market is growing at a rapid pace, with a report claiming vendors can access “$296 million” worth of trades per day.
Per RB, the claim was made by Schard, a cryptoasset security platform, at a blockchain conference operated by the Russian banking giant Sber....
Russia’s Rosbank Begins ‘Int’l Crypto Pay Pilot’ – Banks Joining Government’s Crypto Plan?
6.6.2023
The Russian megabank Rosbank says it has launched a “cross-border crypto payments” pilot.
Per RBC, Rosbank has become the “first major” Russian bank to launch cross-border payments services “in cryptocurrency.”
The bank has teamed up with a local crypto firm named B-Crypto for its initiative....
Today in Crypto: JPMorgan Partners with 6 Indian Banks on Blockchain-Based Interbank Transactions, APPG Makes 53 Crypto Recommendations to the UK Government, Charles Hoskinson Warns About the Rise in AI-generated Frauds
5.6.2023
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: JPMorgan Partners with 6 Indian Banks on Blockchain-Based Interbank Transactions, APPG Makes 53 Crypto...
JPMorgan uses blockchain for 24/7 dollar transfers with Indian banks
5.6.2023
JPMorgan applies blockchain to interbank dollar transactions in India amid the growing signs of global de-dollarization
JPMorgan, 6 Indian Banks to Settle Dollar Trades on Onyx Blockchain System: Bloomberg
5.6.2023
The aim of the project is to settle dollar trades in real time around the clock as opposed to over a matter of days and only during the working week
CZ Binance on Buying Banks to Fight Crypto Regulation Woes, Russian Banker Says CNY Likely to Dethrone USD, and More — Week in Review
4.6.2023
Changpeng Zhao, the CEO of Binance, doesn’t think buying a bank would solve the crypto industry’s troubles with traditional financial institutions, amid issues his own exchange currently faces in regions like Australia and Europe. In other news, the chairman of Russia’s...
Credit Suisse, Deutsche Bank-Backed Taurus Deploys on Polygon Blockchain
2.6.2023
The Swiss firm aims to allow financial institutions and corporates to issue tokenized assets on the Ethereum layer 2 network
US debt ceiling, declining trust in banks send ETH staking to record highs
2.6.2023
The record surge in Ethereum staking in May was attributed to the ongoing U.S. debt ceiling saga, deterring confidence in USD, the downfall of banks and the high APR offered on the ETH staking
US Consumer Protection Agency Issues Warning on Payment Apps Following Collapses of Crypto Firms, Banks
2.6.2023
The US Consumer Financial Protection Bureau issued a warning on Thursday for people using person-to-person services to store funds, reminding them that they are not federally insured, in the wake of FTX and multiple bank collapses.
Transaction volumes on payment apps have “substantially...
Fed board issues order to Silvergate Bank as part of self-liquidation plan
1.6.2023
Silvergate Capital Corporation and its crypto-friendly bank will have 10 days to submit a self-liquidation plan in compliance with California and federal requirements
Binance Buying Bank Not Solution for Banking Problems, Says CEO Changpeng Zhao
1.6.2023
Acquiring a bank wouldn’t solve the issues with banking for Binance or others, the CEO of the largest crypto exchange is convinced. Speaking in the aftermath of the collapse of crypto-friendly banks in the U.S. and amid Binance’s issues with payment providers in Australia, Changpeng Zhao said...
Japanese Stablecoin Ban Lifted, Banks Prepare Move
1.6.2023
Japanese firms can now issue stablecoins, after a long-awaited piece of legislation came into effect today.
The revised Payment Services Act was promulgated at midnight on June 1, 2023.
Under the terms of the act, all token-issuing firms must be able to prove they have the underlying assets that...
Central Banks Show ‘a Lot More Pessimism’ About US Dollar, Survey Shows
1.6.2023
The latest gold reserves survey by the World Gold Council shows that central banks are less optimistic about the future role of the U.S. dollar while their confidence in gold has risen. “There was basically a lot more pessimism about the U.S. dollar and a lot more optimism for gold,”...