Bank on change: DeFi’s challenge to traditional finance and fintech
As mainstream finance embraces decentralized finance, neither it nor its younger challengers are likely to escape the evolutionary forces at work.
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South Korea switches course on crypto amid backlash over regulator’s remarks
Newly elected South Korean Prime Minister Kim Boo-kyum appears to be leading an embrace of the cryptocurrency sector among lawmakers.
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Rejecting traditional finance, some firms now turn to DeFi for growth capital
DeFi project Maple Finance is launching a $17 million lending pool to provide crypto startups with capital. Is this the start of a DeFi credit underwriting trend?
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Australia seeks fresh submissions on cryptocurrency rules
In a paper released today by a Senate committee, the Australian government announced it is seeking help in establishing a crypto regulatory framework.
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RippleNet ties up with Egyptian bank, UAE payment firm for funds transfers
RippleNet has partnered with National Bank of Egypt and UAE-based payment services firm LuLu International Exchange for the processing of cross-border funds transfers from the United Arab Emirates to Egypt.
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S. Korea facing backlash for banning police from owning crypto
To improve public trust, South Korea is barring police officers from buying cryptocurrency. Could this presage a broader clampdown on crypto in the country?
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DBS Bank rolls out crypto estate planning for the ultra-rich
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.
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CZ bites back at Binance probe sensationalism — ‘Anyways. Back to work’
Yet another U.S. regulatory probe of leading crypto exchange Binance is underway, but CEO Changpeng Zhao isn’t impressed with news headlines.
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DBS Private Bank launches crypto trust offering
Singapore’s DBS Private Bank has announced the launch of Asia’s first bank-backed trust offering for cryptocurrencies. The service, operated via the lender’s wholly-owned licensed trust subsidiary, DBS Trustee, allows clients to invest, custodize and manage their digital assets. The service will handle only those cryptocurrencies hosted on the DBS Digital Exchange — Bitcoin, Ether, Bitcoin…
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Binance faces U.S. probe amid money-laundering, tax suspicions
Binance, the world’s biggest cryptocurrency exchange, is being investigated by the U.S. Department of Justice and Internal Revenue Service over alleged illegal activities. Officials responsible for investigating money laundering and tax breaches have interviewed individuals familiar with Binance’s activities, according to a report by Bloomberg. In March, the U.S. Commodity Futures Trading Commission said it…