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Pakistan Announces Fresh Ban on Crypto, but Adoption as a Hedge Remains Popular
18.5.2023
Pakistan's government has hardened its stance against cryptocurrencies, with Minister of State for Finance and Revenue Aisha Ghaus Pasha saying they will “never be legalized in Pakistan.”
Today in Crypto: Binance Faces Issues in Australia & Joins Hands with TradingView, Ripple Reveals a CBDC Platform, Montenegro Prosecutors Appeal Do Kwon & Han Chang-Joon's Bail Terms
18.5.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: Binance Faces Issues in Australia & Joins Hands with TradingView, Ripple Reveals a CBDC Platform...
Pakistan to Ban Online Services Related to Cryptocurrencies
18.5.2023
Authorities in Pakistan intend to prohibit all internet-based crypto services despite significant digital-asset investments made by Pakistanis. The decision comes as government officials in Islamabad take a strong stance against the legalization of cryptocurrencies like bitcoin. Crypto ‘Will Never...
Australian ‘Big 4’ bank begins trial for cryptocurrency payment blocks
18.5.2023
One of Australia’s Big Four banks announced efforts to combat crypto fraud activities aimed at reducing losses from scams
Investors Seek Refuge in Cash as Recession Fears Mount, BOFA Survey Reveals
18.5.2023
Investors, plagued by mounting pessimism, have sought refuge in cash, according to a recent survey conducted by Bank of America. The survey highlights a notable 5.6% increase in cash reserves during May, as apprehensive investors brace themselves for a potential credit crunch and a recession....
Binance Australia Halts Australian Dollar Bank Transfers
18.5.2023
Exchange blames third-party payment providers, and says that credit as well as debit cards can still be used
Australia marks first FX transaction using a CBDC as eAUD pilot continues
18.5.2023
The Australian digital dollar was used in a trade for a U.S. dollar stablecoin using an Ethereum layer 2 blockchain
Florida’s DeSantis Waging Toothless Campaign Against Digital Dollars, Lawyers Say
17.5.2023
The state-level campaign against a U.S. digital dollar made its first foray into established law with Governor Ron DeSantis’ signature on Florida’s effort to block the use of virtual government-backed money in business transactions
Bank Execs Face Senate Ire for Blaming Bank Collapse on Crypto While Amassing Millions
17.5.2023
US Senators have slammed executives of failed banks for trying to deflect blame away from their poor management practices and toward digital asset firms.
During a Tuesday Senate Banking Committee hearing, Senator Cynthia Lummis lashed out at Scott Shay, the former chairman of now-collapsed...
Even Licensed Firms Say Opening Bank Accounts Is Hard in Hong Kong
17.5.2023
Hong Kong has said it wants to be a crypto hub but its banks are rejecting account opening applications
Senators slam bank execs for blaming collapses on crypto, pocketing millions
17.5.2023
Senator Lummis noted that Signature Bank’s Scott Shay mentioned digital assets 10 times in his testimony about the bank’s collapse
Anchorage Digital opens up DeFi voting for custody clients
17.5.2023
Anchorage joins AAVE, Lido and BitDAO in adopting the off-chain voting platform Snapshot
Indonesia Introducing New National Payment System to Protect Against ‘Geopolitical Consequences’
17.5.2023
Indonesia is introducing a new national payment system as the country furthers its de-dollarization efforts and protection against “possible geopolitical consequences.” The new payment system will replace Visa and Mastercard in state-owned institutions and companies, a top central bank...
US Sen. Cynthia Lummis Criticizes Signature Bank Executive for Blaming Crypto for Its Downfall
16.5.2023
Sen. Cynthia Lummis said she found it disappointing that a former crypto-friendly Signature Bank executive is not taking the blame for the failed bank, while criticizing his wordiness about crypto.
The Wyoming Republican, who has advocated for crypto, questioned Signature Bank’s former Chairman...
FDIC Chair Criticizes Signature Bank's Lack of Understanding on Crypto Risks
16.5.2023
Amid crashing stock prices, the Federal Deposit Insurance Corporation (FDIC) points fingers at crypto and poor management for Signature Bank’s demise.
Remarking at a US House of Reps hearing, FDIC chair, Martin Gruenberg, attributed Signature’s failure to ignorance of the risks associated with...
Bloomberg Analyst: Crypto Faced Its Own Set of Bank Runs Alongside the Wider Economy
16.5.2023
Despite being a disruptive force which pits itself in opposition to traditional finance, crypto has also witnessed its own series of bank runs, and some observers believe future runs of what some call 'crypto shadow banks' could become more destructive, according to Matt Levine, an opinion...
Samsung and Bank of Korea Partner for In-Depth Offline CBDC Payments Research
16.5.2023
Samsung Electronics and the Bank of Korea have inked a partnership to research Central Bank Digital Currency (CBDC) technology that could facilitate offline transactions.
On Monday, the two companies signed a memorandum of understanding at Samsung’s headquarters south of Seoul, according...
Bangladesh and India to Trade in National Currencies Due to US Dollar Liquidity Issues
16.5.2023
Bangladesh and India have decided to conduct trade settlements in their own currencies, bypassing the dominance of the U.S. dollar. According to sources from the Bangladesh Bank, the decision was made due to the issues of liquidity in foreign currency that Bangladesh faces, which are disrupting...
Crypto bank runs in 2022 catalyzed by institutional withdrawals: Research
16.5.2023
Research suggests the lack of insurance for depositors on crypto platforms induced fear among retail and institutional clients, leading to heavy withdrawals and a liquidity crunch
Signature Bank failed to understand risks associated with crypto: FDIC chair
16.5.2023
A related report penned down by FDIC Chief Risk Officer cited poor management as “the root cause of Signature Bank’s failure.”