Search
‘Chinese Invented Paper Money and They Will End It’- Brazil’s Far-Left Praises Digital Yuan
25.5.2021
Digital currencies, those issued by central banks in particular, have been commended for their “disruptive nature.” The praise comes from a publication associated with one of Brazil’s far-left parties. A recently published article claims that CBDCs such as China’s digital...
Bank of Korea Seeking Technology to Develop Digital Currency
25.5.2021
South Korea’s monetary policy regulator is taking steps to create its own digital coin. Bank of Korea is now looking for a technology provider to develop a test environment for the project. The news comes after major commercial banks expressed skepticism over their cooperation with domestic...
USDC Attestations Run Late, Raising Alarms in the Crypto Community
25.5.2021
USDC, the second most popular stablecoin in the cryptocurrency market, is late in releasing its attestations, which are documents that certify the number of dollars the custodian Centre holds in banks. The last attestation available for the currency dates back to February when the currency had...
3 South Korean Banks Say They Won’t Deal with ‘Risky’ Crypto Exchanges
25.5.2021
Three of South Korea’s five biggest banks, Woori, Kookmin (KB), and KEB Hana, have said they do not want to work with crypto exchanges, claiming the sector is “too risky” – a decision that may well jeopardize the future of even the country’s major exchanges.
Cryptonews.com approached a number...
HSBC Won’t Launch Bitcoin Trading Desk, CEO Says Bank Has No Plans to Offer Cryptocurrency Investments
24.5.2021
HSBC has confirmed its bitcoin and cryptocurrency stance as a growing number of major banks are beginning to offer crypto services. CEO Noel Quinn says that HSBC views bitcoin as an asset class rather than a payments vehicle but the bank is not rushing into providing cryptocurrency investments...
Data Suggests Fed’s MBS Operations and Wall Street Investors Behind Inflated US Real Estate Market
22.5.2021
The Federal Reserve and America’s big banks have significantly inflated home prices across the U.S. according to a number of statistics. In many towns across the nation, home sales are facing bidding wars and certain regions are seeing property shortages. One report notes that homebuyers...
Kenyan Regulator Commends Its Regulatory Sandbox— Says the Test Phase Enables It to Have Interactions With Innovators
21.5.2021
According to a new report published by the Capital Markets Authority (CMA) of Kenya, the country’s regulatory sandbox has now received 24 applications, queries, and proposals since March 2019. From this total, only seven firms have been admitted into the sandbox, and “a few more (are...
Bank of Russia to Launch Digital Ruble Prototype by End of Year
21.5.2021
The Central Bank of Russia (CBR) is preparing to release a digital prototype of the national fiat towards the end of 2021, a high-ranking official has confirmed. Transfers between private individuals will be free of charge with the digital ruble, which is going to have legal tender status on...
USD 10K+ Crypto Transfers & IRS, Central Banks on Crypto Volatility + More News
20.5.2021
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
____
Tax news
The US Treasury said the Biden administration’s proposal to strengthen tax compliance includes a requirement for transfers of...
Could DeFi-powered banks become an unstoppable force in finance?
19.5.2021
Banks lack an innovative streak, but cutting-edge DeFi protocols often have a usability problem. Is combining the two the answer?
Nebraska bill to allow banks to offer crypto services passes to final round
19.5.2021
Nebraska could follow Wyoming and open its first crypto bank should the bill pass the final round
Asset Managers UBS, Pimco, T. Rowe Price Caution of Cryptocurrency Investing, Expect Strict Regulations
19.5.2021
A number of asset managers have cautioned about investing in cryptocurrencies, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management. “We expect more stringent policy and regulatory controls ahead for crypto as it becomes more mainstream,” said UBS....
Swiss Sygnum bank to offer custody for Internet Computer token
18.5.2021
Major Swiss crypto bank Sygnum is planning to launch options trading for the ICP token at a later date
US FDIC seeks insight on banks’ role in cryptocurrency markets
18.5.2021
The FDIC issued a request for public input to get more information on the industry and consumers’ interests in the market
Biggest Layoffs in US Banking History: Analyst Predicts Banks to Cut 200,000 Jobs
18.5.2021
A Wells Fargo analyst has predicted the largest “reduction in U.S. bank headcount in history.” Banks are expected to cut 200,000 jobs as they strive to improve productivity and efficiency amid rising competition from fintech and non-bank financial institutions. US Banking Sector...
Banking system consumes two times more energy than Bitcoin: research
17.5.2021
According to Galaxy’s estimates, the annual energy usage of Bitcoin stands at 114 TWh, while the banking industry consumes over 260 TWh each year
Bank of Korea to Monitor Crypto Transactions Using Financial Records
15.5.2021
South Korea’s monetary policy regulator, Bank of Korea, plans to obtain documents from financial institutions to track crypto transactions involving bank accounts. Cryptocurrency prices fluctuate independently from the real economy, the bank says, adding that market growth could pose a risk...
UK will likely need to issue a digital currency, says BoE deputy governor
14.5.2021
The Bank of England's deputy governor has argued that, with the possible rise of non-bank actors issuing currency, public money in digital form could serve as a crucial anchor for confidence in money as a social convention
India’s Central Bank RBI Urges Banks to Cut Ties With Crypto Businesses and Traders: Report
14.5.2021
India’s central bank, the Reserve Bank of India (RBI), has reportedly informally asked banks to cut ties with cryptocurrency exchanges and traders. Some banks in India have limited their exposure to the crypto market and some plan to stop all crypto-related transactions. RBI Asking Banks...
Singapore’s biggest bank launches crypto trust solution
14.5.2021
After posting tenfold crypto volume growth in Q1 2021, DBS Private Bank is expanding its crypto services with a new trust solution