Banks Financial News

03.05 / 09:13

Adoption Banks inflation Argentina's largest two banks to allow crypto trading

Argentina’s largest and second-largest private banks, Banco Galicia and Brubank, have announced that they will allow customers to make crypto purchases.

22.04 / 03:27

Law Banks AML compliance OCC issues order against Anchorage Digital over AML compliance

The United States Office of the Comptroller of the Currency, or OCC, has said it intends to pursue cease and desist proceedings against cryptocurrency custody bank Anchorage Digital for violating certain anti-money laundering requirements.

21.04 / 21:47

regulation Banks prudential Australian Australian prudential regulator releases roadmap for cryptocurrency policy

The Australian Prudential Regulation Authority, or APRA, published a letter to regulated entities Thursday setting out risk management expectations and a policy roadmap for the regulation of crypto-assets through 2025. “While activities associated with crypto assets are still relatively limited in Australia, the potential scale and risks of such activities could become significant over time,” chairman Wayne Byres said in the letter.

21.04 / 07:49

regulation Europe Banks Crypto License German banking giant Commerzbank applies for crypto license

One of the largest banking institutions in Germany has confirmed it applied for a local crypto license earlier this year, marking the first time a major bank has made a move toward cryptocurrencies in the country.

19.04 / 20:05

business Blockchain Adoption Banks Silvergate Bank revenue soar in Q1 as institutional crypto trading activity falls

On Tuesday, Silvergate Bank, a crypto-fiat gateway network designed for financial institutions, announced its results for the first quarter of 2022. During this period, its revenue and net income grew by 93% and 94% year over year, respectively, to $59.9 million and $24.7 million. The company is most notable for its Silvergate Exchange Network, or SEN, which facilitates U.S. dollar and euro transfers between cryptocurrency exchanges and institutional investors.

08.04 / 00:27

Adoption regulation Banks Insurance The FDIC wants US banks to report on current and intended crypto-related activities

The Federal Deposit Insurance Corporation, the United States government corporation that insures depositors at U.S. commercial and savings banks, issued a financial institution letter Thursday. The letter requests the institutions supervised by the agency to notify the appropriate regional director of their activities with crypto-related assets or their intentions to engage in crypto-related activities.

29.03 / 14:55

regulation Banks Bitcoin Bitcoin Miner Bosnian court sides with Bitcoin miner in frozen bank account case

Italy’s second-largest bank UniCredit and the Bitcoin (BTC) mining farm Bitminer Factory have faced each other in the Bosnian city Banja Luka court, which decided that the bank improperly closed the company’s account and must compensate €131 million (about $144 million) to the plaintiff.

25.03 / 16:15

Blockchain Technology Adoption Banks Jamaica’s central bank digital currency and the problems it hopes to solve

The Central Bank of Jamacia recently announced that it would be launching its central bank digital currency (CBDC), dubbed the Jamaican Digital Exchange, or Jam-Dex, in the first quarter of 2022. According to the Jamaican government, the national digital currency will help to lower transaction costs while allowing the unbanked to access financial services.

25.03 / 08:47

regulation Report Banks Bank of England reports Bank of England and regulators assess crypto regulation in raft of new reports

The Bank of England Financial Policy Committee and other U.K. regulators are assessing crypto regulation after publishing reports on financial stability relating to cryptoassets and decentralized finance.

18.03 / 17:15

regulation Banks Central Bank Central Bank of Russia tightens P2P transactions monitoring, including those in crypto

The Central Bank of Russia (CBR) recommended that the nation’s commercial banks ramp up monitoring users’ transactions that could be aimed at circumventing CBR’s “special economic measures to counter the outflow of foreign currency abroad,” local media reported on Thursday. The recommendation includes closer oversight over crypto trading, which is named among the vehicles for withdrawing capital from Russia.

18.03 / 13:31

Binance Banks Bitcoin Ukraine’s largest savings bank halts Bitcoin buys with hryvnia: Report

While the Ukrainian government has moved to legalize Bitcoin (BTC) amid the ongoing attacks from the Russian military, some of the largest local banks have reportedly banned their clients from buying BTC using the national currency.

18.03 / 00:13

Blockchain Banks Central Bank Central Bank of Russia issues digital asset license to Sberbank in apparent policy reversal

Less than two weeks after the Central Bank of Russia, or CBR, reiterated its position proposing to ban the issuance, mining and circulation of cryptocurrencies in Russia, it appears to have reevaluated its policy. In a press release published on Thursday, the CBR added the country’s biggest lender, Sberbank, to its register of information system operators for digital financial assets. As reported by local news outlet Tass, the CBR stated:

11.03 / 20:43

Law Banks AML guidelines Bank of Israel issues draft guidelines on cryptocurrency AML/CFT

On Friday, the Bank of Israel published a draft regulation on Anti-Money-Laundering and Combatting the Financing of Terrorism (AML/CFT) risk management for the banks facilitating crypto-to-fiat transactions.

07.03 / 13:57

Adoption regulation Banks interview Seba Bank Clear regulations will accelerate crypto adoption, says SEBA Bank exec

With crypto being in the sights of many regulators, many have wondered if regulation is good or bad for crypto. However, Christian Borel, Senior Executive Officer at SEBA Bank, says that if the laws are clear, it may push crypto adoption forward.

24.02 / 17:03

Blockchain Banks banking Loans Maple Finance partners with Celsius to launch wETH lending pool

Digital asset lending platform Celsius has become the first pool delegate from the centralized finance market to deploy a crypto-centric lending service on Maple Finance, utilizing the latter’s smart contract and blockchain infrastructure to facilitate a $30 millionpool to institutional investors.

24.02 / 12:53

Banks Bitcoin Russia to seize retail deposits if sanctions go too far, official warns

In the event of harsh Western sanctions, Russians’ savings could be confiscated, according to Nikolai Arefiev, a member of the Communist Party of the Russian Federation and vice-chairman of the Duma’s committee on economic policy.

24.02 / 10:17

regulation Banks trudeau Trudeau revokes emergencies act powers but the case for crypto grows

Prime Minister of Canada Justin Trudeau has announced he will repeal emergency powers used to freeze $8 million from 210 bank accounts connected to Canadian ‘Freedom Convoy’ protestors, according to CBC news.

21.02 / 07:15

Blockchain regulation Banks Credit Suisse Leak Credit Suisse data leak reveals decades of shady clients and activity

Leaked data shows that until recently, Swiss bank Credit Suisse held accounts valued at more than $100 billion for sanctioned individuals and heads of state reportedly accused of money laundering.

08.02 / 00:13

business Investments Banks Wells Fargo Global crypto adoption could 'soon hit a hyper-inflection point': Wells Fargo report

Wells Fargo Investment Institute, the research division of Wells Fargo Wealth and Investment Management, has released a report highlighting the potential of cryptocurrencies as an investment opportunity akin to the early days of the internet.

07.02 / 19:35

Law Banks US Federal deposit insurer lists “crypto-asset risks” among its top priorities for the year

Martin J. Gruenberg, the acting chairman of the Federal Deposit Insurance Corporation, or FDIC, named “crypto-assets” among the agency’s key priorities in 2022, alongside addressing financial risks associated with climate change and promoting amendments to major federal statutes relevant to FDIC’s jurisdiction.

06.02 / 00:21

Blockchain Technology Investments Banks crypto sector TradFi 3 things the crypto sector must offer to truly mainstream with TradFi

In the past year, we’ve seen the crypto economy undergo exponential expansion as heaps of money poured into various cryptocurrencies, decentralized finance (DeFi), nonfungible tokens (NFT), crypto indices, insurance products and decentralized options markets.

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