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Barclays Blocks Customers From Sending Funds to Binance
6.7.2021
Barclays has reported it no longer supports wiring funds to Binance, one of the largest cryptocurrency exchanges in terms of daily volume. The bank announced its issues with wiring funds to Binance in a resolution message to the customers today. The banking giant cites the warning that...
Crypto exchanges in India still struggling to secure banking partners
1.7.2021
India’s crypto exchanges continue to cope with the burden of limited access to banking services
Fed Vice Chair Quarles Says Digital Dollar Could Pose Significant Risks to US Banking System
1.7.2021
The Federal Reserve’s vice chairman of supervision and the chair of the Financial Stability Board (FSB), Randal K. Quarles, doubts the benefits of the digital dollar but says it “could pose significant and concrete risks” to the U.S. banking system. Fed Vice Chair Speptical About...
Coinbase Launches High Yield USDC Accounts With 4% APY
30.6.2021
Coinbase, the largest exchange in terms of crypto reserves held, has announced the introduction of a savings program tied to usd coin. The company’s high yield USDC savings program allows customers to gain 4% APY interest on stablecoin accounts. Coinbase Reveals USDC Savings Program With...
Mexico’s Finance Minister: Cryptocurrencies Are Prohibited From Being Used in Financial System
30.6.2021
Mexico’s central bank, finance ministry, and banking regulator have jointly issued a warning about cryptocurrency. Finance Minister Arturo Herrera emphasized that cryptocurrencies are prohibited from being used in Mexico’s financial system. The central bank of Mexico, the finance...
Korean Crypto Exchanges Consider Suing Government Over Banking Requirements
30.6.2021
All cryptocurrency exchanges in South Korea except the largest four may be unable to meet the bank account requirements needed to stay in business. A number of Korean crypto exchanges are considering suing the government and financial authorities, claiming that the country’s crypto law...
Korean Banks to Be Relieved of Liability for Crypto-Related Crime, Report Suggests
28.6.2021
Banking institutions in South Korea have reportedly requested to not be held accountable for crimes linked to cryptocurrencies such as money laundering. According to local media, financial regulators are now developing rules that could relieve Korean banks from responsibility when screening...
Open Banking and DeFi: The Next Big Thing in Finance
28.6.2021
The text below is an advertorial article that was not written by Cryptonews.com journalists.
From the grain loans of ancient cities like Assyria and Babylonia to the lenders of the ancient Greek and the Roman empires, the evolution of banking services has been intricate and gradual. Like...
Crypto Industry Will Benefit From Tighter Regulation, Says Law Professor
28.6.2021
The chairman of International Banking Law and Finance at the University of Edinburgh, professor Emilios Avgouleas, says that tighter crypto regulation will benefit the industry in the long run. He is bullish about the prospects of cryptocurrencies becoming widely used around the world. Tight...
Indian Banks Halting Services to Crypto Industry Post RBI Clarification
27.6.2021
Several Indian banks have reportedly halted services to customers dealing in cryptocurrencies despite the central bank, the Reserve Bank of India (RBI), informing them that the banning circular is no longer valid. The latest bank to join the fray is IDFC First Bank. IDFC First Bank has become...
10,000 Financial Institutions Can Now Let Customers Buy, Sell, Hold Bitcoin Through Their Bank Accounts
25.6.2021
Banks and credit unions of all sizes can now facilitate the buying, selling, and holding of bitcoin within their banking platforms thanks to a collaboration between Finserv and New York Digital Investment Group (NYDIG). Finserv currently has about 10,000 financial institution clients. All Banks...
Q2’s Banking Platform to Enable Over 18 Million Users to Buy, Sell, Hold Bitcoin
24.6.2021
Q2’s digital banking platform, which currently powers nearly 30% of the top 100 banks in the U.S., will allow more than 18.3 million registered users to buy, sell, and hold bitcoin. Q2 Holdings Inc. (NYSE:QTWO) provides digital banking and lending solutions to banks, credit unions...
Bank of France, Swiss Crypto Bank Test Securities Settlement Using CBDC
23.6.2021
The Bank of France has successfully completed an experiment involving the use of CBDC to settle listed securities. The test has been carried out with the help of an alliance of partners led by SEBA Bank, a digital asset banking provider based in the Swiss crypto valley. Central Bank and Crypto...
Signature Bank’s Blockchain Payment Platform to Accept Trueusd Stablecoin
21.6.2021
As Signature Bank expands its commercial banking offerings, the trueusd stablecoin has been integrated with its Signet blockchain-based digital payment platform to deliver instant dollar payments. Signet Integration to Deliver 24/7 Dollar Payment and Settlement As more enterprises flirt with...
$3.6 Billion Crypto Heist: South African Bank Denies Business Relationship With Fraud Accused Africrypt
19.6.2021
According to local media, leading South African financial institution FNB is denying allegations of a banking relationship with the recently collapsed crypto investment company, Africrypt. FNB also insists it did not enable the investment company’s transactions which helped Africrypt’s...
Spain’s BBVA Opens Bitcoin Trading to All Private Banking Clients in Switzerland
18.6.2021
Spain’s second-largest bank, BBVA, is opening up its bitcoin trading and custody service to all private banking clients in Switzerland in a few days. The bank has been testing the cryptocurrency service for six months. “The bitcoin management system is fully integrated” in...
Banking giant BBVA debuts Bitcoin trading and custody for Swiss clients
18.6.2021
BBVA Switzerland will soon begin offering Bitcoin trading to private banking clients while not providing any advisory services on crypto investments
One in Five Kiwis Bullish on Crypto Investments, New Poll Suggests
15.6.2021
Cryptocurrency investing has been rising in popularity among New Zealanders and a fifth of the respondents in a new survey either plan to or have already, put money into digital assets. The poll also found that young Kiwis are more likely to use micro-investing platforms than older generations....
Tanzanian President Wants Central Bank Chiefs to ‘Prepare for Cryptocurrency’
15.6.2021
Tanzanian President Samia Suluhu Hassan has urged her country to be ready for emerging fintech by paving the way for cryptocurrencies. She also urged the country’s central bank to begin the necessary preparations for a step-change in global attitudes towards banking. However, in her address...
Basel Committee Proposes Differentiating Regulation of Crypto Assets Based on Risks to Banks
12.6.2021
The Basel Committee on Banking Supervision has proposed dividing crypto assets into two groups and regulating them based on their market, liquidity, credit, and operational risks to banks. Cryptocurrencies, such as bitcoin, will be subject to “a new conservative prudential treatment.”...