Search results: banking

In a new report, Bank for International Settlements extols central bank digital currency (CBDC) as the future of money. Will CBDCs replace Bitcoin someday?

Two nominees to the U.S. Treasury Department have promised, if they are confirmed in their posts, to implement new regulations relating to cryptocurrency.

France’s central bank has successfully completed a central bank digital currency experiment involving the settlement of listed securities with Switzerland’s SEBA Bank.

CBDC ATMs appear around Beijing and Hong Kong-based Amber Group is Asia’s billion dollar unicorn after raising US$100 million in its Series B.

The People’s Bank of China has told the country’s big banks and other finance sector heavyweights to cut off financing sources for cryptocurrency transactions.

Forkast.News speaks with Michael Wu, Amber Group’s co-founder and CEO, on how the crypto firm is going from $100 million to $1 billion in valuation.

Crypto literacy of Indian regulators is evolving and crypto players are trying to keep industry clean via self-regulations, says Nischal Shetty of WazirX.

Dashing hopes of greater regulatory clarity for the cryptocurrency industry, the U.S. Securities and Exchange Commission’s recently released annual regulatory agenda does not mention Bitcoin or cryptocurrency regulations.

Chinese stock trading app Futu Niuniu has suspended Chicago Mercantile Exchange cryptocurrency futures services and stopped supplying crypto market information.

Australian investors adversely impacted by repeated system failures on Binance are considering taking a class action lawsuit to recoup their losses.

The ASEAN Financial Innovation Network (AFIN) is partnering with enterprise software firm R3 on a central bank digital currency (CBDC) sandbox.

India’s central bank has clarified that cryptocurrencies are not illegal, but that does little to prevent lenders from refusing to provide crypto-related services.

The Basel Committee on Banking Supervision has launched a public consultation on preliminary proposals for the treatment of banks’ crypto asset exposures.

El Salvador’s adoption of Bitcoin has the world buzzing. Can Singapore be next? China mining crackdown continues.

Jump Trading, a high-frequency trading firm, is joining Oxygen, a decentralized finance prime brokerage protocol, as a strategic partner and market-maker to provide liquidity on the Oxygen platform.

Beijing-based Red Date Technology — the face of China’s ambitious nationwide blockchain service network — receives a big investment boost.

A Miami property has set a record for the highest price paid in cryptocurrency in a real estate transaction — US$22.5 million.

In collaboration with Wharton business school, WEF releases a toolkit for governments to consider the opportunities and risks of decentralized finance.

Is Bitcoin’s carbon footprint a growing risk to Earth, or is it a red herring? On this year’s United Nations World Environment Day, crypto mining is a hot topic.

After Tether’s legal settlement with New York, USDT’s growth is exploding—dispelling concerns over Tether’s reserves, says Bitfinex CTO Paolo Ardoino.

BitFlyer announced today that it is launching a Bitcoin-to-Japanese yen pair for currency traders in the U.S.

Can Ethereum, also known as the ‘World Computer,’ function outside this world — in space? A SpaceX rocket launch today will put that to the test.

Other top blockchain and crypto news: Thailand’s SEC tries to rein in DeFi via regulation. Will China’s future DCEP digital yuan offer smart contracts?

China is set to hand out 200,000 virtual red envelopes, each containing 200 yuan (US$31.30) of the country’s prototype digital currency, to Beijing residents.

Thailand becomes one of the first governments to attempt DeFi regulation as India’s RBI clarifies that banking ban no longer exists.

‘Know your customer’ is key to anti-money laundering efforts. Isabelle Corbett of R3 explains why blockchain is uniquely suited for KYC/AML.

Other top blockchain and crypto news: Australia signals progressive approach to crypto as Hong Kong moves closer to banning retail crypto trading.

Investors are turning to green alternatives to tackle Bitcoin’s impact on the environment as Indonesia gears up for a CBDC.

Ripple is partnering with Bank Dhofar, Oman’s second largest bank, to facilitate cross border mobile payments through RippleNet.

Indonesia is planning to launch a digital version of its national currency, central bank Governor Perry Warjiyo said on Tuesday.

New and innovative lenders are taking advantage of DeFi’s low costs to offer savings account interest rates that Main Street banks simply can’t match.

Hong Kong is poised to ban small investors from buying cryptocurrencies, while making exchanges get licences. Industry experts discuss how this might play out. 

Hong Kong reacts to the region’s pending legislation on limiting crypto investment to professional investors while a conglomerate enters South Korea’s crypto custody scene.

Diversification to allocate funds to Bitcoin is an “opportunity that (fiat) money cannot buy”, says DBS Bank’s chief investment officer.

The Booker Group announced that it now holds approximately US$35 million in crypto and plans to invest US$3 million into DeFi in Q2.

Former CFTC chairman Chris Giancarlo and Accenture’s David Treat are not in a CBDC race, but a ‘contest’ to develop money that reflects societal values.

In a paper released today by a Senate committee, the Australian government announced it is seeking help in establishing a crypto regulatory framework.

As Singapore builds Project Dunbar, a cross-border multiple-CBDC platform, its government dives into DeFi learning and ponders a CBDC for the masses.

It’s only a matter of time that digital currency ‘is going to overshadow all the other forms of money,’ says Neeraj Khandelwal of CoinDCX.

What will happen to your Bitcoin keys and crypto wallets when you die? Southeast Asia’s largest bank will now take care of it all for the super wealthy.

Bitcoin ATM provider Coinsource is expanding in Alaska after receiving the state’s first and only Alaska Money Transmitter License. Coinsource joins four other operators of Bitcoin ATMs — known as BTMs — in Alaska, none of which have such a license. The Alaska Division of Banking and Securities license provides a guarantee that money transmitters […]

Facebook’s much-anticipated foray into cryptocurrency has got off to a modest start, with the project it is backing confirming that it will launch a stablecoin pegged to the U.S. dollar. The social media giant had announced ambitious plans to launch a global digital currency named Libra in partnership with Visa and PayPal in 2019, but […]

Cryptocurrency investment in India has reportedly slowed to a trickle as both investors and cryptocurrency exchanges grapple with banks’ refusal to accept digital currency transactions. Despite the face-off, industry executives are hopeful that banking support will resume soon, according to a report by Moneycontrol. As reported by BloombergQuint, most crypto exchanges, including WazirX, CoinDCX, Zebpay, […]

R3’s Corda — one of the most widely used blockchains of Corporate America — is coming to China. What does it mean for the US and Europe?

The Chia craze keeps on going while the Indian crypto industry speaks out against banks blocking crypto transactions.

National Payments Corporation of India refuses to ban cryptocurrency trading, putting decision on whether to block trades in hands of lenders. India’s national payments authority has handed banks the responsibility for deciding whether or not to ban cryptocurrency trading. The National Payments Corporation of India has advised lenders across the country to impose bans on […]

India’s cryptocurrency exchanges are calling on local banks not to block their transactions. Cryptocurrency exchanges in Mumbai are reportedly struggling with payment gateways and banks, which they accuse of blocking their transactions by citing an old Reserve Bank of India (RBI) policy to ban digital currency dealings. They claim the policy had been struck down […]

According to a report, Binance could face investigation from European regulators over the issued stock tokens. The largest crypto exchange issued its first tokenized stock early this month, starting with Tesla stocks. The U.K Financial Conduct Authority (FCA) had revealed last week that it is working to understand the product to know whether Binance has […]

Fast-growing DeFi — still a largely unregulated industry — gives FATF an earful over its proposed ‘travel rule’ and expanded anti-money laundering rules.

Filipino-owned assets management company SAM Digital Technologies says adoption of blockchain could promote ‘digital footprints’ in the island nation. The country’s central bank is also interested in the technology.

XRP is up 600% since the start of the year and its holding steady as Ripple released one billion XRP over the weekend.

Are Binance stock tokens in Tesla, Coinbase and Apple mere tokens or company shares by a different name? Securities regulators are taking a close look.

DBS Bank says it has over US$60 million in crypto under custody and plans to expand trading hours to 24/7.

As corporations plow billions into Bitcoin, a new business model involving decentralized finance is emerging for investors, says Alessio Quaglini of Hex Trust.

JPMorgan, DBS Bank and Temasek jointly form a new company, Partior, to develop a blockchain platform for cross-border payments and settlements.

Binance’s BUSD and Huobi’s HUSD dominated their stablecoin rivals in the first three months of this year. Why is Asia hungry for alternatives to fiat?

JPMorgan, DBS and Temasek launch Partior to digitize commercial money as stablecoin transaction volume surge in Asia-centric exchanges.

Thailand’s crypto adoption is often overlooked, but one of its largest commercial banks has been leveraging permissioned blockchain Corda of R3 to digitize trade finance in the Fourth Industrial Revolution.

Beijing’s new warning against cryptocurrency comes days before regulations aimed at preventing illegal crypto fundraising take effect May 1.

The Lion City’s status as Asia’s crypto haven was no accident, writes Shaun Djie of Digix. What can other countries learn from Singapore’s fintech success?

One year after China unveiled a digital currency via testing, its potential for displacing dollar diplomacy is becoming more understood. Is the US worried yet?

As we observe Earth Day, let’s not scapegoat cryptocurrency. The truth about renewable energy and electricity use by banking and gold may surprise you.

China’s central bank is exploring a new stance towards Bitcoin and other cryptocurrencies, now calling them investment vehicles – but not currency

Are digital assets securities or commodities? Outdated laws offer no clarity, but US is now poised to reform blockchain regulations and lead world by example.

Look for nifty DCEP wallets to make a debut at the 2022 Beijing Olympics

Justin Chow of Cumberland DRW explains why Asia has lagged behind the US in institutional interest in crypto — and why that will likely change soon.

Macao jumps into digital yuan feasibility studies while South Korean banks make moves to curb kimchi premium arbitrage.

Despite launching CBDC research, Bank of Japan is still not sure nation needs digital yen. Experts fear the caution could cost Japan its competitive edge.

Despite its legal troubles in the US, Ripple expands XRP’s uses in Southeast Asia’s lucrative and fast-growing international money transfer market.

The former MIT blockchain professor and CFTC chair now sits atop a key regulator over crypto. How might his leadership affect SEC v. Ripple, or Bitcoin ETFs?

Court ruling favoring Ripple executives and slapping down SEC catapults XRP — now the world’s 4th most popular crypto — to its highest prices in 3 years.

Blockchain improves data protection but not confidentiality. Here’s why multi-party computation can be a solution, writes Kurt Nielsen of Partisia Blockchain.