Bank Financial News

Xapo Bank has become the first licensed bank in the United Kingdom to offer a combined interest-bearing USD and Bitcoin (BTC) account.

London-based fintech firm Revolut has been granted a banking license in the United Kingdom after navigating a complex three-year approval journey.

HSBC Australia recently told customers it will stop processing payments to crypto exchanges starting July 24. This decision is attributed to customer protection concerns, emails circulated on X showed.

South Korean prosecutors have charged an employee of the bank Woori with embezzlement-related offenses after he admitted stealing company money to spend on crypto.

The firms did not disclose the transaction value, but BitOasis said in a separate statement that CoinDCX, which had already acquired a stake in the business last year, now owns the full share capital of the Dubai-based company.

Italy plans to adopt measures to beef up surveillance over risks tied to cryptoassets, including high fines for those who manipulate the market, a draft decree reviewed by Reuters showed on Thursday. The decree, due to be approved by cabinet later on Thursday, lays out fines of between 5,000 and 5 million euros ($5,400-$5.4 million) for insider trading, unlawful disclosure of inside information or market manipulation.

A worker at the South Korean bank Woori has admitted to stealing some $7.3 million worth of company funds to spend on crypto investments.

Kansas-based now-failed Heartland Tri-State Bank’s former head has pled guilty on Thursday for embezzling $47.1 million for a series of “personal crypto purchases.”

money robbed in a cyber attack and laundered are parked in cryptos, the idea of a 'designated official wallet' to hold and ring fence crypto currencies bought with the proceeds of crime has cropped up. Soon after a transaction by a scammer or the use of a mule account to purchase cryptos is tracked, the virtual digital assets (VDAs) can be moved to the proposed special account which would be under the control of a law enforcement agency (LEA).

Wells Fargo, the third largest bank in the United States, has invested in one of the country’s new Bitcoin ETF products.

The Brazilian megabank Nubank is launching withdrawal services for Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), in the latest bullish move from the neobank.

The U.S. budget deficit widened to $1.7 trillion in fiscal year 2023 and is on track to reach $2.6 trillion by 2034, according to the Congressional Budget Office. U.S. government debt held by the public, meanwhile, is on pace to reach a record 106% of gross domestic product (GDP) in 2028, up from 97% in fiscal year 2023. It has soared to $27 trillion from $17 trillion in early 2020 and $5 trillion in 2007.

Tinkoff Bank, one of Russia’s biggest banking players, has won a license to issue and sell “digital financial assets” (DFAs) in the country.

Banking giant HSBC is now allowing retail investors in Hong Kong to buy real gold through digital tokens.

bank messaging network SWIFT is planning a new platform in the next one to two years to connect the wave of central bank digital currencies now in development to the existing finance system, it has told Reuters. The move, which would be one of the most significant yet for the nascent CBDC ecosystem given SWIFT's key role in global banking, is likely to be fine-tuned to when the first major ones are launched.

K Bank, a South Korean neobank that has seen rapid growth thanks laregely to its crypto operations, is set to make an initial public offering (IPO) bid.

Alfa-bank, one of Russia’s biggest financial institutions, has created a “digital financial asset” (DFA) backed by gold, stocks, and cash.

Traditional banking giants Bank of America and Wells Fargo are offering eligible wealth management clients access to spot Bitcoin exchange-traded funds (ETFs).

Sygnum AG, a global digital asset bank, has successfully raised $40 million in a strategic funding round led by Azimut Holding.

Bank of India (RBI) Governor Shaktikanta Das said Tuesday, just days after the US capitalmarkets regulator approved bitcoin exchange traded funds. “They (the US Securities and Exchange Commission) are the best judge of what is good for their country, so they have done it. I would not like to comment on what another regulator in another country has done,” Das said at the World Economic Forum at Davos. “So far as India is concerned, we see a lot of risks and it is not necessary for us that what somebody else does, we simply adopt.” Last week, the US SEC approved ETFs based on bitcoin, a move that sent cryptocurrency prices soaring worldwide. Das has steadfastly maintained over the years that cryptocurrencies pose a palpable threat to currency and monetary stability and could be the source of the next major global financial crisis.

crypto regulations Mumbai, Reserve Bank Governor Shaktikanta Das on Thursday said the central bank will not emulate others on crypto currency regulations and asserted that «what is good for another market need not be good for us». His remarks come against the backdrop of the US Securities and Exchange Commission approving changes to allow the creation of bitcoin exchange-traded funds in the US. «What is good for another market need not be good for us. Therefore our views — both that of the Reserve Bank and personally that of mine — remain the same,» Das said on crypto currency regulations. He was speaking at a BFSI summit organised by the publication Mint.