Search Results for: HSBC

China and EU Trade Talks Included the Potential Cooperation of Central Bank Digital Currencies

The European Union and China recently had trade and economic discussions regarding topics including central bank digital currencies (CBDC) and supply chain.  During the video conference, according to the Ministry of Commerce of China, the two parties discussed the strategic cooperation of the steady recovery and growth of the global economy post-pandemic.  According to the … Continue reading China and EU Trade Talks Included the Potential Cooperation of Central Bank Digital Currencies

Ripple Faces Trademark Lawsuit in Australia for 'PayID' Infringement

Ripple Labs, the blockchain and payments solutions company that developed XRP cryptocurrency, is facing a lawsuit by New Payments Platform Australia (NPPA) for allegedly violating intellectual property rights for the branding of ‘PayID’.  Australian Consortium Sues Ripple The NPPA, a consortium of the major banks in Australia and set in place by the Reserve Bank of Australia for interbank payments and transfers, … Continue reading Ripple Faces Trademark Lawsuit in Australia for 'PayID' Infringement

G7 Bank Sector Higher Money Laundering Risk than Crypto Industry, Reports Mexico Financial Intelligence

According to an official report released by the Financial Intelligence Unit (FIU) of Mexico, the G7 banking sector comprising of major banks Santander, BBVA, Citibanamex, Banorte, HSBC, Scotiabank, and Inbursa—was the most prone to money laundering operations, despite being the most regulated.  Who is most at risk of money laundering? Banks connected to exchange activity were also as highly ranked in … Continue reading G7 Bank Sector Higher Money Laundering Risk than Crypto Industry, Reports Mexico Financial Intelligence

Blockchain Capital Joins the Libra Association as Newest Governing Member

The Libra Association has announced Venture capital firm Blockchain Capital as its newest member. Blockchain Capital is a San-Francisco-based investment firm with deep expertise and reach in the blockchain sector. The company was founded in 2013, and since then, it has become one of the leading venture capital firms in the cryptocurrency and blockchain space. … Continue reading Blockchain Capital Joins the Libra Association as Newest Governing Member

Leaked FinCEN Files: $137M Linked to Crypto Ponzi Scam OneCoin Laundered Through Bank of New York Mellon

A leaked trove of US official documents revealed that five major banks – Deutsche Bank, HSBC, JP Morgan, Bank of New York Mellon, and Standard Chartered Bank – were involved in illicit transactions pertaining to mobsters, crypto Ponzi schemes, and money laundering. The official Financial Crimes Enforcement Network (FinCEN) document was leaked and disclosed that … Continue reading Leaked FinCEN Files: $137M Linked to Crypto Ponzi Scam OneCoin Laundered Through Bank of New York Mellon

FinCEN Director Kenneth Blanco Warns Banks to Take Crypto AML Seriously

Kenneth Blanco, the Director of the US Financial Crimes Enforcement Network (FinCEN) warned banks to seriously consider how virtual currencies should fit into their anti-money laundering (AML) policies. FinCEN Director Kenneth Blanco discussed the banks’ obligation to implement effective AML policies and warned them to consider the risks associated with cryptocurrency—at the virtual 2020 ACAMs … Continue reading FinCEN Director Kenneth Blanco Warns Banks to Take Crypto AML Seriously

Binance Follows Bybit in Appointing Top Compliance Official

Maxwell Baucus, former U.S. senator and ambassador to China, has joined Binance. The top official will become policy advisor and government liaison to the exchange. Given Baucus’s influence in US political circles, the move should support Binance’s expansion efforts within North America, where its Binance US platform operates. Curiously, news of the appointment comes two … Continue reading Binance Follows Bybit in Appointing Top Compliance Official

Top Chinese State-Owned Banks Promote Digital Yuan Ahead of Shanghai 'Shopping Festival'

Some of China’s State-owned banks are reportedly promoting the country’s Central Bank Digital Currency (CBDC) initiatives ahead of a May 5 Shopping Festival in Shanghai. The promotion of the CBDC, also known as the Digital Yuan (e-CNY) by the banks, is a political mandate designed as an alternative to Ant Group’s Alipay and Tencent’s WeChat Pay … Continue reading Top Chinese State-Owned Banks Promote Digital Yuan Ahead of Shanghai 'Shopping Festival'

Russia’s Tinkoff Faces Regulatory Challenges to Offer Crypto Investments

Tinkoff, the most prominent online bank in Russia, faces regulatory and legal challenges to offer cryptocurrency trading to its premium clients, the bank’s CEO said Thursday. Oliver Hughes, the CEO of Tinkoff, accepted an interview with CNBC Thursday and said that “qualified investors” want to invest in crypto as digital assets. Still, Tinkoff is unable … Continue reading Russia’s Tinkoff Faces Regulatory Challenges to Offer Crypto Investments

Standard Chartered Expands Business by Joining Crypto Family

Standard Chartered, the British multinational bank (MNB), announced Wednesday that the corporation has joined and followed the cryptocurrency trend.  Standard Chartered Bank is setting up a joint venture to buy and sell virtual currencies such as Bitcoin. On Wednesday, June 2, it announced that its technology department SC Ventures will establish a partnership with BC … Continue reading Standard Chartered Expands Business by Joining Crypto Family

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