Search results: banking

Paxos Trust, the issuer of Binance’s BUSD stablecoin, is reportedly being investigated by the New York State Department of Financial Services (NYDFS).

After the strongest January price increase since 2013, Bitcoin gave up some of its gains this week to dip below the US$22,000 support line on Friday. The crypto market was buffeted by bearish comments on interest rates by U.S. Federal Reserve officials this week, along with concerns about a regulatory crackdown. Is this the start of a downtrend, a healthy correction, or the beginning of a so-called “crab” market moving sideways?

The recent spate of crypto exchanges freezing customer accounts should be a wake-up call to investors everywhere. What can you do to better protect yourself?

Renewable energy is plagued by financing difficulties, but blockchain technology can bridge the sector’s funding gaps, writes Brianna Welsh of Reneum.

Binance, the world’s largest crypto exchange, will suspend all deposits and withdrawals of U.S. dollars at its international exchanges from Feb. 8.

CeDeFi offers the benefits of CeFi and DeFi without their shortcomings, writes Alexander Tkachenko of VNX. Here’s how it works.

FTX’s implosion is spurring a regulatory scramble to rein in the crypto sector. But one influential US lawmaker may do more harm than good, writes Kadan Stadelmann, CTO of Komodo.

Regulators should not legitimize “purely speculative” activity in crypto markets following the collapse of FTX, said Monetary Authority of Singapore Chairmen.

Signature Bank will not handle transactions of less than US$100,000 for crypto exchange customers starting in February, according to exchange giant Binance.

EU’s new Digital Operational Resilience Act aims to help firms withstand cyberattacks. Monica Oravcova of Naoris Protocol explains why it doesn’t go far enough.

The Universal Digital Payments Network (UDPN), which aims to offer interoperability between regulated stablecoins and CBDCs, was launched today at the World Economic Forum in Davos.

National Australia Bank, one of the four major banks in the country, has created a stablecoin AUDN for cross-border transactions and carbon credit trading, according to an Australian Financial Review report. 

Bitcoin and Ether were little changed in a muted morning of trading on Wednesday in Asia, as few top 10 non-stablecoin cryptocurrencies moved by more than 1% in either direction.

The central bank rolled out a “red packet” feature for its digital currency, the e-CNY, for the Lunar New Year holiday but it will require help from the tech giants it has bashed to popularize the digital yuan.

Coinbase, the world’s second largest cryptocurrency exchange by trade volume, is cutting jobs and closing down most of its operations in Japan.

Cryptocurrency lender Nexo’s office in Bulgaria was raided by local authorities on Thursday over suspicion of money laundering, tax offenses, computer fraud and banking without a license.

Indian cryptocurrency exchanges faced a flurry of taxes on trading last year that saw volumes across most platforms drop as much as 90%, slashing income from trading fees. What’s a crypto exchange to do? Maybe sell mutual funds?

PayProtocol, the South Korean issuer of payments-focused cryptocurrency Paycoin (PCI), will reapply for a local license to stay in business.

Indian music composer A. R. Rahman, who won Best Original Score at the Oscars for the movie Slumdog Millionaire, has launched the ‘Katraar’ metaverse platform to promote new music creations and other art forms.

The U.S. SEC has objected to Binance’s U.S. affiliate’s proposed US$1 billion purchase of bankrupt crypto lender Voyager Digital’s assets.

Bitcoin and Ether rose in Wednesday afternoon trading in Asia, along with all other top 10 non-stablecoin cryptocurrencies. Solana led gains with an 18% surge, followed by Cardano and BNB.

From Terra and FTX crises to Ethereum’s triumphant Merge and China’s inventive NFT industry, Forkast reviews a rollercoaster year and its consequences.

Japan’s Financial Services Agency (FSA) reportedly plans to allow the circulation of foreign-issued stablecoins in the local market next year.

After a year of new all-time highs for major cryptocurrencies in 2021, 2022 was a challenging year for Web3. Industry experts tell Forkast what crypto has in store for 2023 and beyond.

ICBA vice-president Brian Laverdure believes that community banks are unfazed by FTX’s collapse, but remain split on cryptocurrencies.

This year’s cascade of crypto collapses should be a wake-up call to regulators, says the Independent Community Bankers of America’s Brian Laverdure.

A lot of the troubles for India exchanges in 2022 will run into next year as they shed staff and run down reserves to stay afloat, and not all are expected to make it.

U.S. Republican Senator Pat Toomey introduced a bill on Wednesday to set regulations for stablecoins and to further “sensible” regulation of cryptocurrency.

The next financial crisis will come from “private cryptocurrencies” if they are not banned, RBI Governor Shaktikanta Das said at a banking and finance event on Wednesday.

Central bank digital currencies (CBDC) development and interest are growing rapidly worldwide but regulatory issues remain a challenge, especially for cross-border CBDC transactions.  But German technology company Giesecke+Devrient (G+D) – winner of Best Technology Award in the Hong Kong Monetary Authority’s Global Fast Track CBDC 2022 competition during the city’s FinTech Week in November – […]

Kevin O’Leary Kevin O’Leary, chairman of venture capital firm O’Leary Ventures and star of TV’s Shark Tank, said in a congressional hearing on Wednesday that Binance Global Inc.’s chief executive and founder Changpeng Zhao deliberately caused the collapse of Bahamas-based cryptocurrency exchange FTX.com. 

Members of a U.S. Congressional hearing expressed frustration about the timing of Bankman-Fried’s arrest, saying they wanted him to testify under oath so the public could get the answers they are seeking about the collapse of FTX.

Sam Bankman-Fried, the founder of the now-bankrupt FTX exchange, has missed the deadline set by the U.S. Senate Committee to confirm his appearance at an upcoming hearing.

Hong Kong passed the amendment to the bill that includes a licensing regime VASP on Wednesday, which will come into effect on June 1, 2023.

The embattled founder of failed cryptocurrency exchange FTX may be subpoenaed if he declines to testify at the two hearings on the platform’s meltdown in Washington DC next week.

Amid the current crypto market carnage, Web3’s appeal for investors remains solid — and perhaps even stronger — says CVP NoLimit Holdings founder Gin Chao.

Indonesia’s central bank has released a whitepaper detailing plans for its central bank digital currency (CBDC), as the country looks to “advance digital transformation.”

The metaverse has the potential to improve access to opportunities and create a better version of the offline world. How do we prevent it from perpetuating society’s ills?