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UNDP and Algorand Foundation to Launch Blockchain Academy in Q1 of 2024
6.12.2023
The United Nations Development Programme together with the Algorand Foundation are set to launch a blockchain academy in the first quarter of 2024. The objective of the academy is to provide the UNDP’s employees “with knowledge and insights into the applications of blockchain...
Digital Financial Giant Nubank Partners with Circle for USDC Integration
6.12.2023
Source: Circle / Twitter The Brazilian neobanking unicorn Nubank is furthering its crypto adoption journey by partnering with USDC issuer Circle. According to Circle’s press release, the partnership aims to extend USDC access to Brazilian Nubank customers. Nubank’s announcement added...
New Binance CEO Richard Teng Addresses Compliance Issues in First Interview
6.12.2023
Image Source: Binance Richard Teng, the newly appointed CEO of Binance, has faced a challenging debut during his first public interview. In an interview at the Financial Times’ Crypto and Digital Assets Summit in London, the crypto boss acknowledged that Binance’s compliance systems...
SocGen’s Own Stablecoin Set to Debut Trading on Bitstamp Exchange
6.12.2023
Source: AdobeStock / AUFORT Jérome French banking giant Societe Generale is listing its stablecoin, dubbed EUR CoinVertible, on the Luxembourg-based Bitstamp crypto exchange. EUR CoinVertible will be fully backed by Euros and issued on the Ethereum public blockchain, SocGen said in a release....
Brazil’s Banking Behemoth Itau Unibanco Debuts Cryptocurrency Trading Services
5.12.2023
Itau Unibanco, the largest private bank in Brazil, has launched cryptocurrency trading services for its customers. Through Ion, its financial services platform, Itau will first offer access to two cryptocurrencies, ether and bitcoin, opening this feature gradually to all users. Itau Unibanco Opens...
NYDFS Not Afraid to Take Legal Actions Against Defaulting Crypto Companies: Superintendent Harris
5.12.2023
Source: YouTube/Financial Technology Association The momentum of cryptocurrency regulation in the United States continues to intensify, with the New York Department of Financial Services (NYDFS) asserting its readiness to call out defaulting businesses. Speaking at a Financial Times (FT) event...
Ethereum-based Tokenization Attracts Traditional Finance Giants
5.12.2023
As institutions regain interest in both Bitcoin (BTC) and Ethereum (ETH) as investment assets, they’re also exploring how the blockchain can redefine how finance is done using traditional assets. French financial giant Societe Generale (GLE), aka SocGen, announced on Monday that it completed a...
Crypto Firms Should Use Binance’s Settlement As a “Template” For How to Operate, Says CFTC Commissioner Kristin Johnson
5.12.2023
Source: Pixabay Binance’s $4.3 billion fine from the Commodity Futures Trading Commission should be used as a “template” for how to operate, CFTC Commissioner Kristin Johnson said. Speaking at the Financial Times’ Crypto and Digital Assets Summit: Winter Edition on Tuesday, Johnson asserted that...
House's McHenry Won't Seek Reelection, Costing Crypto a Top Ally: Politico
5.12.2023
Rep. Patrick McHenry (R-N.C.), arguably the crypto industry's most important advocate in the U.S. Congress, has decided not to seek another term, sources told Politico on Tuesday
Indian Government Reveals 28 Crypto Service Providers Are Registered With Financial Intelligence Unit
5.12.2023
The Indian government has revealed that 28 crypto service providers are currently registered with the country’s Financial Intelligence Unit. Furthermore, the Ministry of Finance has clarified that the anti-money laundering guidelines and reporting requirements apply to offshore cryptocurrency...
US Financial Services Platform Sofi Announces Exit From Crypto Market
5.12.2023
Starting Dec. 19, the financial services platform Sofi will stop offering crypto services to its customers. Sofi said banking regulators’ increased scrutiny of the crypto sector compelled it to make this decision. The company has outlined the steps that must be taken by customers who...
Coinbase Report: Here’s How Stablecoins Are Revolutionizing the Financial System
5.12.2023
Source: AdobeStock / gguy Coinbase, one of the leading cryptocurrency exchanges based in the United States, has highlighted the importance of stablecoins in facilitating seamless transactions. In a recent blog post, the San Francisco-headquartered exchange noted that many Americans are frustrated...
China shuffles financial leadership, appoints new chief for foreign exchange
5.12.2023
China, a decisive country in today’s international economy, plans to introduce fresh leadership in its financial sector. The top Chinese banker, Zhu Hexin, head of the CITIC group, who has become a household name, has been announced as the New Forex Chief of the country’s currency...
Taiwan to Consider Crypto ETFs Based on Global Trends and Regulatory Development
5.12.2023
Source: pexels Taiwan’s Financial Supervisory Commission (FSC) is exploring the possibility of introducing cryptocurrency exchange-traded funds (ETFs). The FSC revealed that it is closely studying foreign cryptocurrency futures products and ETFs. The intention is to gradually ease restrictions...
Financial Giant ING Expects Fed to Cut Rates From Second Quarter Onwards
5.12.2023
Financial giant ING has predicted that the Federal Reserve will start cutting interest rates in the second quarter of next year. “We are currently forecasting 150bp of rate cuts in 2024 with a further 100bp in early 2025,” ING’s chief international economist detailed, noting that U.S. economic data...
South Korea’s Biggest Exchanges Help Regulators Hunt ‘Undeclared Crypto Operators’
5.12.2023
Source: Vladimir Polikarpov/Adobe South Korea’s five biggest crypto exchanges will team up with financial regulators to search for “undeclared crypto operators.” According to News1, the announcement was made by the Digital Asset Exchange Association (DAXA), which comprises the exchanges Upbit...
Former Paxful CEO Ray Youssef Named CEO of Noones, a Financial Communication App – Here’s What You Need To Know
4.12.2023
Source: Adobe / Rizu Designs Former Paxful CEO Ray Youssef has been appointed as CEO of Noones, a financial communication app aimed at integrating the Global South into the world’s financial systems. Noones has announced the appointment of Ray Youssef as its CEO following its official launch...
UK Treasury Advises Lower Limits on Retail Digital Pound Over Fears of Bank Runs
4.12.2023
The UK Treasury Committee advised proceeding slowly on a digital pound in a Dec. 2 report due to financial stability risks like sparking bank runs. Image by Alexey Novikov, Adobe Stock. The UK Treasury Committee released a report on December 2, advising the Bank of England to proceed cautiously...
28 Indian Crypto Platforms Register With Country’s Anti-Money Laundering Department
4.12.2023
Source: Pixabay 28 Indian crypto platforms have registered with the Financial Intelligence Unit, the country’s Minister of State for Finance said. In response to queries in the Lok Sabha, the lower house of India’s bicameral Parliament, Indian Minister of State for Finance Pankaj Chaudhary told...
Crypto.com Gains Key UK Regulatory Approval as Electronic Money Institution
4.12.2023
Cypto.com regulatory approval in the UK sets the stage for the company to offer additional financial services. Image by Timon, Adobe Stock. Today, cryptocurrency platform Crypto.com gained key regulatory approval in the United Kingdom. The company announced in a press release that it has been...