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‘Soft Landing Is a Primary Objective’ — Federal Reserve Signals One More Rate Hike in 2023
22.9.2023
Based on the U.S. Federal Reserve’s forecasts, it appears that the central bank is poised to enact an additional hike to the federal funds rate by the end of 2023. The news comes in the wake of the Federal Reserve’s decision to leave the interest rate unchanged during its recent...
Union Bank of the Philippines Secures Central Bank License to Offer Crypto Trading
21.9.2023
Philippine’s Union Bank has become the first and only bank in the country to receive a license from the Bangko Sentral ng Pilipinas (BSP) to operate as a virtual asset service provider (VASP).
The bank received a ‘Certificate of Authority’ from the central bank, marking it the first in...
Bank of Japan a Major Source of Uncertainty, Crypto Volatility Trader Says
21.9.2023
Once the BOJ begins policy normalisation, yen carry trades may unwind quickly, leading to increased cross-asset volatility
Hong Kong Regulator Says Crypto Firms Claiming to Be Banks Are in Contravention of Banking Ordinance
21.9.2023
The Hong Kong Monetary Authority said on Sept. 10 that crypto firms presenting themselves as banks are in contravention of the region’s Banking Ordinance. The HKMA argued such descriptions “may mislead members of the public into believing that those crypto firms” are financial...
Ex-Deutsche Bank Investment Banker Faces Up to 30 Years in Prison for Crypto Fraud
21.9.2023
A registered broker and former investment banker with financial giant Deutsche Bank has pleaded guilty to defrauding investors into a fraudulent crypto fund. He is facing up to 30 years in prison and will be required to pay restitution of more than $1.5 million, according to the U.S. Justice...
Maxine Waters Slams Republican Bill Hindering U.S. Progress on CBDC
20.9.2023
The U.S. House Financial Services Committee is currently a battleground for discussions concerning the possible launch of a Central Bank Digital Currency (CBDC) by the Federal Reserve.
Today, Maxine Waters, a Democratic representative from California, sharply criticized a bill reintroduced...
Former Deutsche Bank exec pleads guilty over ‘R3 Crypto Fund’ scheme
20.9.2023
Rashawn Russell faces up to 30 years in prison for his role in the fraudulent cryptocurrency trading scheme
Former Deutsche Bank Investment Banker Faces up to 30 Years in Prison for Crypto Fraud
20.9.2023
A former investment banker from Deutsche Bank, Rashawn Russell, has pleaded guilty to charges of misappropriating funds from investors through promises of higher returns from cryptocurrency trading, as confirmed by the U.S. Justice Department.
Russell now faces up to 30 years in prison when he...
Global Investment Bank Nomura Launches Institutional Bitcoin Fund – Adoption on the Rise?
19.9.2023
Japan's largest investment bank, Nomura, unveiled its Bitcoin Adoption Fund through its crypto subsidiary, Laser Digital.
On September 19, Nomura's subsidiary, Laser Digital announced it would use Koimanu, an entity established in 2018 by Nomura, Ledger, and Coinshares, to custody the fund's...
Bitcoin Adoption Fund launched by Japan’s $500B Nomura bank
19.9.2023
The Bitcoin Adoption fund will have long-only exposure to Bitcoin and be available to institutional investors
Latvia central bank opens to fintech with ‘Innovation Hub’
19.9.2023
The Bank of Latvia has been quietly stepping up its game in providing assistance to fintech projects while employing the latest emerging technologies internally
Bank of Russia Governor Elvira Nabiullina: ‘Cash Is Not Going Away’
19.9.2023
Elvira Nabiullina, Governor of the Bank of Russia, talked about the future of cash in the context of the digital ruble pilot currently being executed in the country. Nabiullina explained that physical money was not disappearing and that the future implementation of the digital ruble was directed...
Russian Central Bank: Digital Ruble ‘Doesn’t Use Biometric Data’
19.9.2023
The Russian Central Bank says that its CBDC, the digital ruble, “has nothing to do with” state efforts to collect biometric data.
The bank began piloting its CBDC just over a month ago in 11 cities nationwide.
Russian MPs last year voted in a law that allows banks and state agencies to collect...
Bidding War: Scaramucci's SkyBridge Capital Competes for Silicon Valley Bank's VC Unit
18.9.2023
Anthony Scaramucci's SkyBridge Capital and Atlas Merchant Capital are competing for SVB Capital, the venture capital and credit-investment arm of SVB Financial Group, the former parent company of Silicon Valley Bank.
Aside from the two investment firms, San Francisco-based private-equity...
Chinese Central Bank Updates Digital Yuan App – Here’s the Latest
18.9.2023
The Chinese central bank has updated its digital yuan app, adding new CBDC-powered features, “service” options, and utilities bill payment functions.
The central People’s Bank of China (PBoC) released its mobile app in early 2022.
It followed up with a major update at the end of last year.
Per...
Scaramucci leads bidding for Silicon Valley Bank VC arm: Report
18.9.2023
Anthony Scaramucci’s SkyBridge Capital is among the asset management firms leading the bids for Silicon Valley Bank’s venture capital arm, with a sale expected in the coming weeks
Hong Kong central bank warns against crypto firms using banking terms
17.9.2023
The HKMA said that funds placed on unlicensed "crypto banks" are not protected by the region's deposit protection scheme
Hong Kong central bank warns against crypto firms using banking terms
17.9.2023
The HKMA said that funds placed on unlicensed “crypto banks” are not protected by the region’s deposit protection scheme
American Bankers Association States a CBDC Is ‘Unnecessary’ and Presents ‘Unacceptable Risks’ to the US Financial System
16.9.2023
The American Bankers Association (ABA), an organization that represents banks custodying $18 trillion in deposits and processing $11 trillion in loans, believes that issuing a central bank digital currency (CBDC) in the U.S. is “unnecessary” and would introduce “unacceptable...
Deutsche Bank Teams Up With Swiss Crypto Firm to Offer Digital Asset Services
16.9.2023
Deutsche Bank, the largest bank in Germany by total assets, is collaborating with Swiss digital asset firm Taurus to provide clients with crypto custody and tokenization services. “As the digital asset space is expected to encompass trillions of dollars of assets, it’s bound to be seen as one...