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South Korean Banking Regulations a Threat to ‘Big 4’ Crypto Exchanges
4.5.2021
South Korea’s newly imposed anti-money laundering (AML) and banking regulations are causing tensions that have reportedly left even the big four domestic crypto exchanges to fear for their futures.
The new regulations, which force crypto exchanges to ensure all of their customers use real name-...
Danske Bank Lowers Negative Rate Threshold, Denmark’s Business Minister Says ‘Enough is Enough’
3.5.2021
On April 26, 2021, the Danish multinational banking and financial services corporation Danske Bank published a press release explaining that the institution has changed the threshold for personal customers and standard interest rates for business customers in Denmark. The Bank plans to lower...
Got crypto? Here are 3 debit cards that let you spend your stack
30.4.2021
Crypto debit cards are growing in popularity as holders look for effortless ways to spend their assets
Fed to Keep Rates Near Zero, Treasury Purchases to Continue, Powell Expects ‘Transitory’ Inflation
29.4.2021
In a policy meeting on Wednesday, the U.S. Federal Reserve told the public that monetary easing will continue and the benchmark interest rate will be kept near zero. Just like previous statements from Federal Open Market Committee (FOMC) members, the committee within the central bank is...
America’s Fifth-Largest Banking Institution US Bank to Offer Cryptocurrency Custody
28.4.2021
On April 27, the American bank holding company U.S. Bank revealed in a blog post that the financial institution plans to offer cryptocurrency custody services. The bank’s chief strategy officer for U.S. Bank Global Fund Services, Christine Waldron, says she is proud of her company’s...
The Global Economy Comes Before Savers: ECB President Christine Lagarde Defends Negative Interest Rates
27.4.2021
The European Central Bank President Christine Lagarde is keeping the central bank’s monetary easing policies unchanged according to her statements from a press conference last Thursday. Moreover, the central bank’s Twitter account recently shared a video of Lagarde defending negative...
OCC Grants Crypto Firm Paxos ‘Conditional Approval’ for US Bank Charter
24.4.2021
The digital currency and stablecoin issuer Paxos has been granted conditional approval for a bank charter under the Paxos National Trust in New York. The U.S. Office of the Comptroller of the Currency issued a preliminary conditional approval which means the regulating entity still has to authorize...
Paxos receives ‘preliminary conditional approval’ for US bank charter
23.4.2021
The stablecoin issuer has nabbed a banking license, but it doesn't mean they'll be doing any banking in the traditional sense
Report: Banking Giant Natwest to Refuse Service to Businesses That Accept Cryptocurrencies
23.4.2021
The major retail and commercial financial institution National Westminster Bank (Natwest) has categorized cryptocurrencies as “high risk” and refuses to serve business customers who accept digital assets for payments. A Natwest board member, Morten Friis, explains the bank has...
Wallex Bank: Launching The Next Level Asset and Digital Asset Ecosystem
22.4.2021
Wallex Trust & Custody, a fintech company based in the USA and Europe that offers trust and custody services among its clients across borders notably in Europe, Asia, and Africa, has announced it has received a banking Crypto and Insurance license issued by the Comoros International Banking...
Former Comptroller of the Currency Brian Brooks to Lead Binance’s US Trading Platform
21.4.2021
A former top regulator and acting head of the U.S. Comptroller of the Currency, Brian Brooks has been appointed the CEO of crypto exchange Binance.us. Brooks will lead the exchange on May 1st and replace the company’s current lead, Catherine Coley. Binance has hired an individual with ties...
Oracle Service API3 Partners With the Open Banking Project, Plans to Connect 400 Banking APIs to Blockchain
20.4.2021
On Monday, the oracle provider API3 announced a ten-year partnership with the Open Bank Project in order to connect more than 400 banking APIs to blockchain smart contracts using API3’s Airnode. The collaboration between API3 and the Open Bank Project aims to bridge conventional banking with...
Scaramucci surprised at lack of banking response to Coinbase listing
16.4.2021
Will competing companies come out of the woodwork?
SEC v Ripple: Court Denies SEC’s Request for Personal Financial Records Not Connected to XRP
10.4.2021
In the SEC v. Ripple case, the court has denied the request by the U.S. Securities and Exchange Commission (SEC) for personal financial records of Ripple’s executives that are not connected to XRP. The court says that it “is not convinced” that personal banking records would show...
New South Korean Crypto ‘Crackdown’ not ‘Bluster’ as Banking Ties Strain
8.4.2021
Source: Adobe/Raphaël Bourgeois
The South Korean government has announced that it will embark on a “crackdown” on illegal crypto transactions, including those made on international crypto exchanges – following a meeting of high-powered political leaders, law enforcers and financial...
JPMorgan Boss Says ‘Emerging Issues’ Like Cryptocurrencies ‘Need to Be Dealt With Quickly’
8.4.2021
JPMorgan’s boss Jamie Dimon has a bone to pick with cryptocurrencies, shadow banking, and the financial technology (fintech) economy. In a letter to JPMorgan shareholders, Dimon explained that banks are “playing an increasingly smaller role in the financial system”...
Argentinean Central Bank Asks Local Banks for Information on Customers Who Deal With Cryptocurrencies
5.4.2021
As cryptocurrencies keep gaining adoption in Argentina, there are discussions on how the national regulatory bodies should regulate the industry. The Central Bank of Argentina (BCRA) seems to have taken a step forward in making the picture clearer. Banks Should Provide Data Such as National...
Japanese bank Sumitomo Mitsui launches the country's first 'a-1' rated security token
30.3.2021
Sumitomo Mitsui has partnered with Securitize to launch Japan’s first security token that complies with the country’s Financial Instruments and Exchange Act
Major South Korean Bank BNK Busan Plans to Offer Banking Services to Domestic Crypto Exchanges
26.3.2021
The South Korean crypto frenzy among the banking industry remains on fire, as another major bank is treading waters to offer banking services for crypto exchanges. The BNK Busan Bank launched a program that consists of visiting competitors’ banks that already offer it. BNK Busan Is Visting...
Mitsubishi, Banking & Telecom Giants Invest USD 62M in DeCurret
24.3.2021
The Japanese crypto exchange DeCurret has received a major boost with leading banks, conglomerates such as Mitsubishi and others participating in USD 62 million funding round for the fast-growing platform.
The Tokyo-based company will use the money to create a new “digital currency” platform and...