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Binance Removes Sanctioned Russian Banks From P2P Platform


Crypto exchange Binance has dropped Russian banks under sanctions from the payment options on its peer-to-peer (P2P) platform. Russian traders can no longer use cards issued by these banks to make payments while transactions in foreign fiat currencies are also restricted for them. Binance No Longer...

Binance Renames Russian Bank Cards Amid US Sanctions Probe, Report


Crypto exchange Binance has replaced the names of cards issued by Russian banks with colors, Russian media revealed amid reports of a U.S. investigation into potential sanctions violations. The changes concern the ruble exchange feature on Binance’s peer-to-peer platform. Russian Traders on Binance...

JPMorgan Analysts: Crypto Bear Market on the Brink of Conclusion


A study of CME Group’s bitcoin futures and open interest indicates the crypto bear market may be approaching its end, according to JPMorgan analysts led by Nikolaos Panigirtzoglou. The bank’s market experts suggest that there’s “limited downside for crypto markets over...

Powell: More Rate Hikes May Be Needed to Curb Inflation


The chairman of the U.S. Federal Reserve, Jerome Powell, warned on Friday that inflation remains too high and signaled the central bank may continue raising interest rates to get it under control. In remarks at the Jackson Hole symposium, Powell acknowledged recent progress in lowering inflation...

South Korean Central Bank Set to Unveil CBDC ‘Blueprint’ Next Month


The South Korean central bank, the Bank of Korea (BOK), is set to showcase a “blueprint” for its CBDC in September as the nation looks to speed up the progress of its digital KRW. Per Fn News and the Byline Network, the BOK has “successfully completed” a CBDC interoperability-focused pilot...

Citi Bank Report: Most Global Security Firms Back CBDCs For Faster Payments


A new research conducted by banking giant, Citi, shows that most financial institutions are leaning toward adopting Central Bank Digital Currencies (CBDCs) for faster global payments. In its latest edition of the Securities Services Evolution, the bank surveyed 12 financial market infrastructures...

Central Bank of Brazil Rebrands CBDC to ‘Drex,’ Launch Expected by 2024


The Central Bank of Brazil has issued a press release revealing details about “drex,” the Brazilian central bank digital currency (CBDC) formerly known as the digital real. The bank explained the need for a rebranding and detailed how it might revolutionize transactions with digital...

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