Search Results for: BANK

Israeli Central Bank Official Embraces CBDC Competition with Banks for Economic Growth

Israeli central bank official, Andrew Abir, sees the introduction of the digital shekel as a catalyst for technological advancements that will drive competition in the banking sector. He acknowledges the ongoing efforts to increase competition in the Israeli banking industry and states that there is still a long way to go. Abir notes that public … Continue reading Israeli Central Bank Official Embraces CBDC Competition with Banks for Economic Growth

Response to Facebook Libra? EU Banks Can Deploy Payment System By 2020

All banks in the eurozone could share the instant payment system at the end of 2020, as reported by Reuters on 26 June. The real time payments are available since 2017. However, only half of the banks in the eurozone have adopted the technology and it is mainly used for domestic payments. Now, the adoption … Continue reading Response to Facebook Libra? EU Banks Can Deploy Payment System By 2020

Singapore’s Central Bank Raises Alarm About a Bitcoin Scam

Singapore’s Central Bank has announced that a website instigating fake claims to woo Singaporean investors is operational. Notably, this financial regulator has called out its activities as investors are prompted to purchase Bitcoin. The Monetary Authority of Singapore (MAS) has been pivotal in showcasing the website’s fabricated declarations about Bitcoin investment linked to Goh Chok … Continue reading Singapore’s Central Bank Raises Alarm About a Bitcoin Scam

China’s Central Bank Accelerates R&D of its Legal Digital Currency

People’s Bank of China, the Central Bank of China made an announcement of the acceleration of the development of its legal digital currency. In July, former PBoC governor Zhou Xiaochuan warned that China must take precautions against Libra and must compete against them. The PBoC started to research on digital currencies as Bitcoin became increasingly popular.   Huawei’s CEO Responds to … Continue reading China’s Central Bank Accelerates R&D of its Legal Digital Currency

People’s Bank of China Announces Its Digital Currency is Ready

The Central Bank of China has announced that its digital currency can now be said to be ready.  In a major event, the China forum as reported by local news site Shanghai Securities News on August 10, the deputy director of the People’s Bank of China (PBoC) Mu Changchun stated that over five years of … Continue reading People’s Bank of China Announces Its Digital Currency is Ready

Barclays Is Finished with Coinbase, Clearbank Steps In

Barclays, the London based bank, has severed ties with cryptocurrency exchange Coinbase as reported by CoinDesk.    The banking relationship previously allowed Coinbase users in the United Kingdom to have access to the UK Faster Payments Scheme (FPS). This enabled users to deposit and withdraw British pounds through the exchange instantly.    However, since the banking relationship recently ended, Coinbase … Continue reading Barclays Is Finished with Coinbase, Clearbank Steps In

Silvergate Bank Contemplates Crypto-Lending

Silvergate Bank, a dominant innovative business bank focused on cryptocurrency and Fintech businesses located in San Diego, is eyeing to become a crypto lender. Silvergate has emerged to be a reckoning force in the cryptocurrency sphere as it offers services to reputable global cryptocurrency firms such as Coinbase, Xapo, Bitstamp, and Genesis Trading, among others.  … Continue reading Silvergate Bank Contemplates Crypto-Lending

India's Central Bank Slammed with a Two Week Crypto Ban Ultimatum

A slam has been imposed on India’s central bank by the nation’s supreme court about the manner in which it has prohibited crypto business. This development has been instigated by the presence of several complaints.  In the most recent session of the ‘IAMAI v. RBI’ case, the court has claimed that the Reserve Bank of … Continue reading India's Central Bank Slammed with a Two Week Crypto Ban Ultimatum

Swiss Regulator Issues Banking Licenses to Two Blockchain Firms

The Financial Market Supervisory Authority (FINMA) in Switzerland has issued banking and securities dealers’ licenses to two new blockchain companies.       The news was announced by the FINMA and described the companies involved being “pure-play blockchain service providers.” The licenses will allow the two companies to offer services for institutional and professional customers.       The two crypto-based … Continue reading Swiss Regulator Issues Banking Licenses to Two Blockchain Firms

Brazil Central Bank Moves to Follow IMF Crypto Classification Guidelines

The Central Bank of Brazil has adopted the classification of cryptocurrencies being sold or purchased under the International Monetary Fund (IMF) guidelines.      According to the announcement from the Brazil Central Bank, IMF guidelines will now be followed. Cryptocurrencies will be classified as non-financial products and will be classified as goods on its balance sheet.      The external sector … Continue reading Brazil Central Bank Moves to Follow IMF Crypto Classification Guidelines

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