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Swiss, French Central Banks to Trial Wholesale CBDC Settlements With BIS and Private Sector
11.6.2021
The central banks of Switzerland and France are joining hands with the Bank for International Settlements to test wholesale central bank digital currencies in cross-border transactions. The experiment will be conducted with the help of a private sector consortium led by Accenture. European Central...
Texas regulator allows state-chartered banks to hold Bitcoin
11.6.2021
The Texas House of Representatives passed a bill to recognize cryptocurrencies under commercial law last month
Korean Exchanges Running out of Options as More Banks Say No to Crypto
11.6.2021
The heat is on for South Korean exchanges, who have suffered a blow in their quest to gain banking contracts that will ultimately determine if they can keep operating after a slew of government regulations to police trading platforms comes into force on September 25.
After the country’s first piece...
Basel Committee Offers More Clarity To Banks Seeking Crypto Exposure
10.6.2021
In a move that could lead to new requirements being imposed on banks that deal with cryptoassets, the Basel Committee on Banking Supervision (BCBS) has issued a proposal to limit such banks’ crypto exposure by applying new credit and market risk requirements.
“Cryptoassets have given rise to...
BIS joins France and Switzerland's central banks on cross-border CBDC project
10.6.2021
The central bank digital currency project will test cross-border settlement between French and Swiss fiat currencies
Stablecoins not that radical, says Bank of England official
10.6.2021
The Bank of England's executive director of the Financial Market Infrastructure Directorate says that stablecoins are hardly “launching us off into some brave new world.”
‘All Banks Go Fintech’: Hong Kong Unveils ‘Fintech 2025’ Strategy
10.6.2021
The Hong Kong Monetary Authority (HKMA) plans to guide local banks towards full adoption of fintech technologies, a new strategy reveals. The region’s central banking institution also stressed that it’s going to “walk the talk” by digitalizing its own supervision...
Mike Novogratz: Bitcoin Investors Waiting for a New Narrative Shift
9.6.2021
Mike Novogratz declared institutional investors are waiting for the next narrative shift in a recent interview at the Bitcoin 2021 conference in Miami. The CEO of Galaxy Digital thinks the market is now in a consolidation phase after the price crash last month. Novogratz also commented on what...
Berkshire Hathaway invests $500M in Brazilian digital bank
8.6.2021
Though its billionaire owner has personally spoken out against digital assets many times, Berkshire Hathaway's investment may indicate the firm is more open to the idea
Kenyan Banks Warn Clients Against Crypto Trading
8.6.2021
A few Kenyan banks have started sending out warning alerts to clients engaged in cryptocurrency trading to be wary of the associated risks. These warnings have reportedly been sent to clients who have “used their credit and debit cards to buy cryptocurrencies on crypto exchanges.”...
Scammers Pick Bank Transfers Over Cryptocurrency, Australian Report Reveals
8.6.2021
Investment scams have been by far the most common type in Australia recently, a new report by the country’s consumer watchdog has revealed. And while a growing number of Australians fall victim to fraudulent schemes involving cryptocurrency, bank transfers remain the scammers’ favorite...
Global banking regulator plans to hold consultation on crypto exposure
7.6.2021
The group has previously warned of "financial stability concerns" and risks faced by banks when it comes to cryptocurrencies
Government Cannot Stand in the Way of Crypto Technologies, Iran Minister Says
7.6.2021
New technologies, including blockchain and cryptocurrency mining, have helped Iran to increase budget receipts and withstand foreign sanctions, according to the country’s minister for economy and finance. The high-ranking official believes the government can’t interfere with their...
G7 Finance Chiefs to Publish Common Rules for State-Issued Digital Currencies This Year
6.6.2021
The G7 finance ministers and central bank governors have met and agreed to work towards common principles for state-backed digital currencies and publish their conclusions this year. They said these digital currencies “could act as both a liquid, safe settlement asset and as an anchor for...
India’s Central Bank RBI Still Has ‘Major Concerns’ About Crypto After Saying Ban No Longer Valid
4.6.2021
The governor of the Reserve Bank of India (RBI), Shaktikanta Das, has clarified the central bank’s position regarding cryptocurrency. His statements followed a notice published by the RBI telling banks that its crypto banking restriction is no longer valid and cannot be cited. RBI Still...
CEOs of top Russian banks Sberbank and VTB blast Bitcoin
4.6.2021
Top Russian bankers cite their reasons for not liking Bitcoin after Tinkoff's CEO said that the central bank was stopping it from offering crypto trading services
ECB: Digital Euro to Boost Global Appeal of European Money, Fight ‘Artificial Currencies’
4.6.2021
The digitization of traditional currencies like the euro has the potential to increase their international appeal, the European Central Bank says in a new report. A failure to offer a digital currency would endanger financial stability, ECB warns. The regulator is concerned about the prospect...
Russian central bank policies stop Tinkoff from offering crypto trading, CEO says
3.6.2021
Russia has officially legalized crypto trading this January but the government still doesn’t allow local banks to offer crypto services
South Korean Banks See Crypto Exchange Commission Fees Grow Tenfold
3.6.2021
The group of South Korean commercial banks that recently ruled out working with domestic crypto exchanges may be forced to rue their decisions after figures for the first quarter of the financial year revealed bumper commission earnings for the banks currently working with trading platforms.
Per...
Standard Chartered Bank Launching Cryptocurrency Exchange and Brokerage
2.6.2021
Major banking corporation Standard Chartered is launching a cryptocurrency exchange and brokerage service, giving its clients access to cryptocurrencies, such as bitcoin and ether. Standard Chartered joins a growing list of major banks worldwide that have embraced cryptocurrency. Standard Chartered...