Search Results for: Banking

US Senate Banking Committee Chair Sends Letter to the OCC to Clarify Crypto Payment Rules

The United States Senate Banking Committee Chair has sent a letter to the US Office of the Comptroller of the Currency (OCC) asking for clearer guidelines on cryptocurrency and digital asset payments. Following the move by the United States Office of the Comptroller of the Currency (OCC) giving U.S banks the rights to keep custody … Continue reading US Senate Banking Committee Chair Sends Letter to the OCC to Clarify Crypto Payment Rules

How Banking Difficulties Drive Crypto Adoption in Latin America

Blockchain analytics firm Chainalysis recently published research indicating how unbanked individuals and businesses in Latin America are using cryptocurrencies as a speculative investment, a store of value, and a means of exchange. An inefficient banking sector in Latin American countries has pushed some individuals and businesses to embrace the use of cryptocurrencies. The ongoing COVID-19 pandemic … Continue reading How Banking Difficulties Drive Crypto Adoption in Latin America

US Senator Pat Toomey Eyes Senate Banking Committee Chair and Digital Currency Regulations

United States Senator Pat Toomey has announced that he will take on digital currency regulation and payments reforms should he become the Senate Banking Committee’s next chairman. US Senator Toomey is running for the Chair of the Senate Banking Committee and said in a press conference on Oct. 5 that should he be elected, he … Continue reading US Senator Pat Toomey Eyes Senate Banking Committee Chair and Digital Currency Regulations

Simplex Redefines the Fiat-to-Crypto/Crypto-to-Fiat Experience With the Launch of the Simplex Banking Solution

TEL AVIV, Israel, November 2020 – Simplex, the global market leader of the fiat-crypto infrastructure, announced the launch of a long-anticipated addition to its product suite: Simplex Banking, a revolutionary method that enables crypto exchanges and wallets to offer anyone, anywhere to buy and sell crypto assets. Simplex Banking offers hundreds of crypto wallets, exchanges, … Continue reading Simplex Redefines the Fiat-to-Crypto/Crypto-to-Fiat Experience With the Launch of the Simplex Banking Solution

South Korea's Banking Association Cautions Against Growing Altcoin Influence

The South Korea Federation of Banks (KFB) may be looking to regulate the country’s crypto trading activities more. According to a report from the local news Channel Korea Herald, the KFB has issued a guideline to its members to count the number of cryptocurrencies other than Bitcoin (BTC) that trade on local trading platforms. The ongoing … Continue reading South Korea's Banking Association Cautions Against Growing Altcoin Influence

Swiss Banking Giant UBS to Offer Crypto Services to its Clients

Switzerland-based banking firm, UBS Group is looking at several options to bring cryptocurrency-based investments to its rich clients.  According to a Bloomberg report on the matter, the company is reportedly considering crypto investments as a response to the demand from its customers. The move comes at a time when cryptocurrencies are gaining massive traction among retail … Continue reading Swiss Banking Giant UBS to Offer Crypto Services to its Clients

Traditional Banking System Consumes Twice Energy Than Bitcoin Mining, New Research Reveals

A new study released by Galaxy Digital Holdings Limited shows that the traditional banking system consumes double the amount of energy that Bitcoin mining uses. Galaxy Digital, an asset management company owned by crypto bull Mike Novogratz, released a quantitative study comparing Bitcoin’s energy consumption to the traditional banking system and gold industries, accompanied by … Continue reading Traditional Banking System Consumes Twice Energy Than Bitcoin Mining, New Research Reveals

Senator Sherrod Brown Urges US Financial Regulator to Keep Out Cryptocurrency Firms Out of Banking Industry

US Senator Sherrod Brown, the chairman of the Senate Banking Committee, issued a statement requesting the Office of The Comptroller of The Currency (OCC) to review federal bank charters awarded to crypto firms and prevent any of such issuance in the future.    Senator Brown pressed the current acting Comptroller of The Currency, Michael Hsu, to … Continue reading Senator Sherrod Brown Urges US Financial Regulator to Keep Out Cryptocurrency Firms Out of Banking Industry

Mexican Billionaire To Accept BTC for His Banking Business

Ricardo Salinas Pliego, a Mexican billionaire, endorsed the use of Bitcoin (BTC), saying his bank Banco Azteca will develop the first BTC banking business in Mexico. The 65-year-old third-richest tycoon in Mexico said on Twitter Sunday, indicating “he recommends using BTC”; his bank and himself “will be the first bank to accept BTC in Mexico”. The … Continue reading Mexican Billionaire To Accept BTC for His Banking Business

Banking Giant Morgan Stanley Purchases 28,289 Shares of Grayscale Bitcoin Trust

According to the U.S. Securities and Exchange Commission document, the US leading investment bank Morgan Stanley is buying 28,289 shares of Grayscale Bitcoin Trust through its European Opportunity Fund. The document shows that up to 25% of each fund’s portfolio can invest assets in Bitcoin. The European Opportunity Fund includes European companies in technical and non-technical fields and other … Continue reading Banking Giant Morgan Stanley Purchases 28,289 Shares of Grayscale Bitcoin Trust

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