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Russian Banker States SWIFT ‘Needs to Be Killed’


Andrei Kostin, head of the VTB Bank, one of the biggest banks in Russia, has stated that the Society for Worldwide Interbank Financial Telecommunication (SWIFT), the standard messaging system for fiat payments, “needs to be killed.” Kostin remarked that the actions of the U.S. and...

UK Government Urged to Review Chase Bank’s Policy to Decline Crypto Payments


Bitcoin Policy UK has urged the British government to review Chase Bank’s policy to decline all crypto payments. “It is, of course, the stated policy of this Government that the U.K. become a crypto asset hub, but it is hard to square this policy aim with the actions of this U.K.-regulated bank,”...

Binance Advises Paysafe Users to Convert Euro Balances to Tether


Crypto exchange Binance has issued a recommendation for customers using the services of Paysafe for euro (EUR) transfers. The crypto trading platform is advising users to convert their euro balances to tether (USDT) or withdraw them to bank accounts after the payment processor suspended deposits...

Russia’s Yuan Shift: EBRD Economist Warns of Waning US Dollar Dominance


In a recent interview, the European Bank for Reconstruction and Development’s (EBRD) chief economist, Beata Javorcik, highlighted a notable trend: Russia’s growing inclination to transact in the Chinese yuan. This shift, the economist emphasized, could challenge the dominance of...

Brazil’s Central Bank Tightens Rules as Crypto Adoption Rises


The central bank of Brazil has vowed to tighten rules and strengthen its oversight of crypto platforms, as crypto adoption in the country surges higher. Speaking in front of a parliamentary commission on finance and taxation on Wednesday, Roberto Campos Neto, the governor of Brazil’s central bank...

Local US Bank Shut Down after CEO Lost Millions in Crypto Scam


Heartland Tri-State Bank, a community bank in Elkhart, Kansas, has been forced to shut down after its CEO, Shan Hanes, lost millions of dollars in a cryptocurrency scam.  The incident unfolded on July 5 when Hanes, desperate to retrieve his money from a supposed cryptocurrency investment...

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