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‘7 South Korean Securities Firms Will Launch Crypto Exchanges in 2023’ – Report
23.8.2022
A slew of major South Korean securities companies – many of which may be affiliated with major commercial banks and business groups – could be set to launch crypto exchange platforms as early as next year.
Per Newspim, “seven large domestic securities companies” have already applied to financial...
10 Traditional Companies that are Moving into Crypto Despite Market Downturn
20.8.2022
Big traditional companies have continued to embrace crypto in a variety of ways over the past year, despite the current market downturn.
To keep you up to date on who is doing what to secure their slice of the crypto economy, we have gathered a list of 10 traditional companies that have recently...
South African Banking Regulator: ‘De-risking’ Crypto Firms Potentially Creates ‘Opacity in Financial Conduct’
19.8.2022
According to the latest guidance note issued by the South African banking sector regulator, Prudential Authority, risk assessment does not mean financial institutions should avoid or eliminate risks via the wholesale termination of client relationships with entities such as crypto asset service...
South Korea’s SK Securities to Team up with Regional Bank for Crypto Custody, NFT Move
16.8.2022
The securities arm of South Korea’s second-largest business group will take the crypto plunge – and will team up with a domestic commercial bank as part of its efforts....
Read More: South Korea’s SK Securities to Team up with Regional Bank for Crypto Custody, NFT Move
Fed Reveals Guidelines for Crypto Banks Who Want to Open ‘Master Accounts’
16.8.2022
The Federal Reserve (Fed)'s governing board has unveiled guidelines that will standardize applications for “master accounts” from institutions “with novel charters,” including “cryptocurrency custody banks and their trade associations.”...
Read More: Fed Reveals Guidelines for Crypto Banks Who Want...
US Fed Opens Pathway for Crypto Banks to Tap Central Banking System
15.8.2022
The Federal Reserve announced it was publishing its final guidance for novel financial institutions, such as Wyoming trust entities, to access its "master accounts," something these firms need to participate in the global payment system
Kimchi Premium Trading Total Could Be Almost Twice as High as First Thought, Says Regulator
15.8.2022
The sum total of illegal kimchi premium trading conducted via South Korean banks could be as high as USD 6.5 billion, regulators claim – and authorities in the nation say they are now investigating “all” domestic commercial banks over the matter....
Read More: Kimchi Premium Trading Total Could...
What DeFi Offers Beyond Lending for Crypto Speculation
14.8.2022
DeFi advocates claim that his nascent industry will continue to grow and, ultimately, make good on its promises.
"By removing the need to rely on intermediaries, DeFi makes traditional banking services far more accessible."
Leading DeFi protocols are now seeking exposure to real-world assets....
Why Celsius and Voyager Were More Like Uninsured, Quasi-Banks
14.8.2022
William D. O'Connell, PhD Candidate, Political Science, the University of Toronto.______
There is a well-known saying shared by both crypto experts and skeptics: “Not your keys, not your coins.” The phrase, popularized by Bitcoin entrepreneur Andreas Antonopoulos, refers to how the contents of...
Panamanian Regulator May ‘Swing the Ax’ after Bitcoin-friendly Bank Bans Use of Crypto Mixers
12.8.2022
Panama’s “bitcoin (BTC) and crypto-friendly” bank Towerbank says it will bar its customers from making use of crypto mixers – in the wake of the United States Office of Foreign Assets Control (OFAC)’s move to sanction Tornado Cash earlier this month....
Read More: Panamanian Regulator May ‘Swing...
US IRS Comes After Clients of Another Crypto Exchange
11.8.2022
In a tax-related effort, the US Internal Revenue Service (IRS) is asking permission to look into the customers of crypto prime dealer SFOX Inc. and its partner.
The service responsible for collecting taxes is seeking to do just that – collect taxes, but this time it’s searching to identify...
Crypto Turmoil Latest: Nuri Files for Insolvency while CoinFlex Files for Restructuring
10.8.2022
The crypto winter continues to claim victims, with German crypto exchange Nuri and Africa-based CoinFlex being the latest to make moves.
Nuri GmbH, one of Germany’s largest crypto exchanges, has filed for insolvency with a Berlin court, the company said in an announcement on Tuesday....
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Portuguese Banks Stop Offering Services to Crypto Exchanges, Citing ‘Risk’ as Rationale
4.8.2022
Multiple Portuguese banks have begun closing accounts belonging to crypto exchanges due to “risk management”-related reasons – and the country’s central bank appears to have given the financial institutions its blessing....
Read More: Portuguese Banks Stop Offering Services to Crypto Exchanges...
South Korean Banks May Be in Trouble as Regulator Probes Kimchi Premium Bitcoin ‘Irregularities’
4.8.2022
South Korean banks could find themselves in the firing line after the government, media outlets, and regulators stepped up the scrutiny of the banks' role in enabling kimchi premium traders to make fast money when trading volumes rise....
Read More: South Korean Banks May Be in Trouble as Regulator...
Banking Platform Galoy Raises $4M for Bitcoin-Backed Synthetic Dollar
3.8.2022
Stablesats lets people use Lightning for everyday payments without exposure to short-term volatility
Robinhood Fined Again, ZB Suspends Withdrawals, Resetting Vires.Finance, ApeCoin Enters Gucci + More News
2.8.2022
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: Robinhood Fined Again, ZB Suspends Withdrawals, Resetting Vires.Finance, ApeCoin Enters Gucci + More News
84% of Surveyed Brazilian High Earners Know What Crypto Is
1.8.2022
Crypto awareness is on the rise in Brazil, a new survey has found – particularly among higher-earning individuals....
Read More: 84% of Surveyed Brazilian High Earners Know What Crypto Is
Central Bank of Uruguay Summons to Binance Due to Its Savings Focused Cryptocurrency Products
1.8.2022
The Central Bank of Uruguay has issued a summon to Binance, one of the biggest exchanges in the world, due to the series of crypto-based savings products they are offering in the country. These savings products, according to the bank, can only be made through verified banking institutions or...
China Bank Account Freeze Controversy: Authorities Reveal Latest Reimbursement Plan, Three Officials Now Under Investigation
31.7.2022
In a move seen as an attempt to pacify protesting bank clients, Chinese authorities in Henan province announced their latest repayment plan which sees customers with deposits ranging between $14,827 and $22,240 qualify for reimbursement. In addition, authorities said two unnamed officials from...
ECB Economists Suggest Limiting Access to Digital Euro to Protect Banks
30.7.2022
A group of economists evaluating the potential effects of a digital euro have insisted that restricting access to the upcoming currency is necessary to preserve the current financial system. Their study follows an earlier proposal to limit digital euro deposits at the European Central Bank (ECB)...