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The federal financial regulatory agency of the United Arab Emirates (UAE) has announced that it will start receiving licensing applications for firms that want to provide virtual asset services within the country. 

Regulators may need to introduce limits on the use of stablecoins in payments to prevent potential threats to financial stability, an official at the Bank of England warned Monday.

Leadership in the United States House of Representatives Financial Services Committee was not satisfied with Securities and Exchange Commission head Gary Gensler’s response to their request for documents. They have reached out to the SEC chairman again in a sharply worded letter. 

The existence of the Web3 economy in Africa began with cryptocurrency. Using blockchain technology in Africa came with a lot of transformation in terms of transparency and control over finances. The Web3 economy in Africa is still gaining more traction with a DeFi-based financial inclusion.

First announced late last year, the Office of Financial Technology builds on and incorporates the Office of Innovation, which the OCC established in 2016 to coordinate agency efforts to support "responsible financial innovation". In his role as Deputy Comptroller and Chief Financial Technology Officer, Bhardwaj will lead the team responsible for analysis, evaluation, and discussion of relevant trends in fintech, emerging and potential risks, and the potential implications for OCC supervision. The Office is designed to boost the OCC’s expertise on matters regarding digital assets, fintech partnerships, and other changing technologies and business models within and that affect OCC-supervised banks. Georgia Quinn, general counsel at Anchorage Digital says: "The crypto industry should welcome the OCC’s new office as a clear sign the federal government is serious about bringing crypto and emerging areas of financial technology within the regulatory perimeter."

Investor, financial commentator, and Euro Pacific Capital CEO Peter Schiff  made a prediction on Twitter regarding the future of Bitcoin [BTC]. He claimed that the institutional adoption of cryptocurrency is coming to an end.

The city of Hong Kong is continuing its push for Web3 and crypto adoption, despite volatility in the market and regulatory crackdowns elsewhere, Hong Kong’s Financial Secretary Paul Chan has confirmed.

In recent years financial brands, most notably crypto outfits, have turned to influencers to promote their products to millions of social media users. But, the trend has caught the attention of regulators: just last month in the US the SEC charged eight celebrities - including actress Lindsay Lohan and YouTube star Jake Paul - for illegally touting crypto asset tokens without disclosing that they were paid for doing so.

Now is the "right time" for Hong Kong to push forward with Web3 despite the crypto market fluctuations, according to the Financial Secretary of Hong Kong, Paul Chan.

FTX was run by three inexperienced people “not long out of college,” who relied on “a hodgepodge” of online shared documents and communications across a series of different apps to manage the multi-billion dollar empire according to FTX CEO John Ray III.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Islamic banking and finance is a system based on the principles of Shariah, or Islamic law, which, among many other things, prohibits the charging or paying of interest on loans and emphasizes ethical and equitable financial transactions. 

In this article

European banks cut lending to businesses last month even before the demise of Silicon Valley Bank and Credit Suisse  shook global financial markets.

European banks cut lending to businesses last month even before the demise of Silicon Valley Bank and Credit Suisse  shook global financial markets.

European banks cut lending to businesses last month even before the demise of Silicon Valley Bank and Credit Suisse  shook global financial markets.

Financial media outlet Bloomberg revealed a new artificial intelligence (AI) model intending to open new ways to use the data available within the company’s terminal. Many responded to the latest development, with some saying that this sparks “the next wave” of corporate AI. 

In his role as Deputy Comptroller and Chief Financial Technology Officer, Bhardwaj will lead the team responsible for analysis, evaluation, and discussion of relevant trends in fintech, emerging and potential risks, and the potential implications for OCC supervision.

European banks cut lending to businesses last month even before the demise of Silicon Valley Bank and Credit Suisse  shook global financial markets.

European banks cut lending to businesses last month even before the demise of Silicon Valley Bank and Credit Suisse  shook global financial markets.

blockchain technology. Even amid the turmoil set off by interest rate hikes and quantitative tightening, the global bond market, which is bigger in size than equities yet off the radar for retail investors, appears to have earmarked 2023 to leverage blockchain technology. A few days ago, Switzerland-based Obligate executed a corporate bond issued by a Swiss commodity trading firm on Polygon’s blockchain platform, thus marking the first bond issuance that involved no intermediary or traditional rails. The bond was issued and executed by the smart contract. Earlier in February, the Hong Kong government issued the world’s state-issued tokenized green bonds worth $102 million using blockchain technology as part of its push to restore its status as a global financial hub. In Germany, engineering giant Siemens issued its first digital bond, worth $64 million, on a public blockchain.