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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...
Federal Watchdogs Flag 4 Major US Banks for Lack of Crisis Management; Demand Living Will Revisions
22.6.2024
Federal authorities have spotlighted critical deficiencies in the crisis management strategies—known as “living wills”—of four major U.S. banks, signaling a push for stronger safeguards against financial turmoil. The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve...
Singapore flags digital payment tokens as high-risk in AML landscape
20.6.2024
Singapore said DPT service providers, also known as virtual assets service providers, stand out as a high-risk category within the financial sector
Ethiopia Approves CBDC Launch Draft Proclamation
20.6.2024
The Ethiopian Council of Ministers recently approved a draft proclamation that paves the way for the launch of a central bank digital currency (CBDC). The National Bank of Ethiopia (NBE) stated that the draft considers rapid technological advancements and draws from the experiences of fellow...
Salvadoran Government Introduces Bitcoin Banking Law Reform
16.6.2024
The Salvadoran government has presented an initiative to accelerate the inclusion of Bitcoin and other cryptocurrencies in its investment banking sector. The banking law reform introduced to the National Assembly would allow private investors to constitute banks that can provide services in Bitcoin...
JPMorgan Chase Captures 18% of US Bank Profits, Highlighting Growing Market Dominance
16.6.2024
A report has found that JPMorgan Chase Bank accounted for a substantial 18% share, or $11.7 billion, of the total $64.2 billion net income reported by all FDIC-insured banks for the first quarter of 2024. This data, highlighted by financial reporters Pam Martens and Russ Martens from...
Bitcoin bank proposal gains momentum in El Salvador
15.6.2024
The Bank for Private Investment will “diversify the financing options” available to investors in both Dollars and Bitcoin
Swiss regulator forces crypto-friendly FlowBank into bankruptcy
14.6.2024
The Swiss-based bank had ties to the TrueUSD stablecoin issuer, Techteryx, crypto asset manager CoinShares and reportedly Binance
Stablecoin act gives Congress alternative to overriding Biden’s SAB 121 veto
12.6.2024
President Joe Biden’s veto of the SAB 121 repeal was a blow for the crypto community. Can the U.S. Congress override the veto with broad bipartisan support?
Customers Bank Said to Debank Some Digital Asset Hedge Funds
7.6.2024
The move is not a widespread debanking of hedge-fund clients, but rather the offboarding of inactive accounts, one person said
63 US banks on the brink of insolvency: Why Bitcoin's next target is $100K
5.6.2024
Bitcoin price may be closer to the big milestone $100,000 mark than many realize as a looming banking crisis could see BTC become the new "safe haven asset."
US Banking Sector Teeters: $517B Unrealized Losses, 63 Troubled Institutions Flagged
4.6.2024
U.S. banks reported an alarming increase in unrealized losses and a growing list of institutions at risk of failure in the first quarter of 2024, according to the latest U.S. Federal Deposit Insurance Corporation (FDIC) data. The FDIC report highlights $517 billion in unrealized losses...
Deutsche Bank and Bitpanda Collaborate Amid Crypto Banking Challenges
4.6.2024
Deutsche Bank is collaborating with Bitpanda to manage customer fiat deposits and withdrawals for the Austrian crypto broker. This collaboration addresses the challenges crypto platforms have faced in securing banking partners after the 2023 collapse of key crypto-friendly banks. Deutsche Bank will...
Bitpanda Drafts Deutsche Bank to Process Fiat Transactions in Germany
4.6.2024
This is Bitpanda's second major partnership in Germany this year after the broker was enlisted by LBBW to offer crypto custody services in the country
Banking Associations Support Resolution to Overturn SEC’s Controversial Crypto Rules
2.6.2024
The American Bankers Association, Bank Policy Institute, Financial Services Forum, and Securities Industry and Financial Markets Association sent a letter to President Joe Biden on May 31, urging him to sign the resolution passed by Congress to overturn the SEC’s Staff Accounting Bulletin...
Nigeria seeks crypto clarity one year into Tinubu’s tenure
2.6.2024
Nigeria's young resident population now feels more bewilderment due to the administration’s recent actions against Nigeria’s crypto industry
US banking lobby last-minute bid to stop Biden vetoing SAB 121 overturn
2.6.2024
The American Bankers Association claims that United States President Joe Biden's move will "harm investors, customers, and ultimately the financial system."
South Korean Universities Face Banking Hurdles in Converting Crypto Donations to Cash
30.5.2024
South Korea’s regulations prohibiting corporations from opening virtual asset exchange accounts are making it impossible for local universities to liquidate their large cryptocurrency donations. Financial authorities cite money laundering concerns as the reason for maintaining the ban. Education...
Sphere Labs launches banking integration feature on Telegram
28.5.2024
The Telegram extension of Solana Labs will feature secure transactions with a 0.1% fee, and its full launch is expected in the coming months of 2024. The banking integration feature of Telegram is aimed at American dollars and Euro accounts from non-sanctioned nations. Sphere Labs is a pioneering...
South Korea Universities Face Banking Hurdles in Converting Crypto Donations to Cash
28.5.2024
Financial authorities in South Korea are prohibiting universities from opening corporate accounts for coin transactions. This is resulting in their inability to convert cryptocurrency donations provided by certain crypto businesses into cash.
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