Provident Financial News

European crypto investors will have to wait a little longer for the full provisions of Markets-in Crypto Assets (MiCA) to kick in, according to the European Securities and Markets Authority (ESMA).

Ukraine claims to have carried out one of the most destructive attacks on Russian air assets since the beginning of the war

Hungarian Prime Minister Viktor Orbán has held talks with Vladimir Putin in a rare in-person meeting for the Russian president with a leader of a European Union country

Goldman Sachs saw its third quarter earnings fall 33%, with the investment bank seeing muted market conditions that allowed fewer deals and market making opportunities for the firm

The Chinese search engine and artificial intelligence firm Baidu has launched the latest version of its artificial intelligence model Ernie 4.0

A volleyball shoe startup is bringing attention to colleges' multi-million-dollar contracts with athletic apparel companies and terms that prevent athletes from wearing other brands

Disney attorneys want to question a previous administrator of the Walt Disney World governing district as part of its defense against a lawsuit brought by a board made up of appointees of Florida Gov. Ron DeSantis

Reserve Bank of India has slapped fines of ₹12.19 crore on ICICI Bank and ₹3.95 crore on Kotak Mahindra Bank for non-compliance with various central bank directions. ICICI Bank has been penalised for contraventions pertaining to loans and advances-statutory and non-compliance with RBI directions on fraud classification and reporting, the central bank said on Tuesday. Kotak Mahindra Bank has been fined for non-compliance with directions on managing risks and the code of conduct in outsourcing of financial services by banks as well as failure to comply with RBI directions on recovery agents and customer service. In ICICI Bank's case, examination of risk assessment reports showed that the lender had sanctioned loans to companies in which two of its directors were also directors, marketed the sale of non-financial products and failed to report frauds to the RBI within mandatory timelines. Kotak Mahindra Bank, meanwhile, had failed to carry out due diligence of a service provider and was also unable to ensure that customers were contacted after 7 p.m. and before 7 a.m., the RBI said.

Binance has announced that it will halt the acceptance of new users in line with the newly implemented cryptocurrency marketing regulations in the United Kingdom.

Yield Protocol Cessation

Uniswap's V3 contracts have found a new home on the Moonbeam Network, a leading destination for multi-chain applications on Polkadot. With over $3 billion in Total Value Locked (TVL), Uniswap is a giant in the decentralized exchange (DEX) sphere. This integration, a first of its kind, extends Uniswap's availability to users on the Polkadot network, opening up new avenues through an Oku front-end and Wormhole cross-chain messages.

A recent working paper by the International Monetary Fund (IMF) titled «Assessing Macrofinancial Risks from Crypto Assets» has shed light on the complexities and potential risks in the rapidly growing crypto sector. The paper serves as a comprehensive guide for understanding the various risks associated with crypto assets, particularly the systemic risks that could affect global financial stability.

Binance has recently come into collaboration with the Royal Thai Police to aid in the disbanding of major crypto fraudulent networks in Thailand, according to Binance official blog. Through two significant operations, the collaborative efforts have led to the arrest of key culprits and substantial asset seizures. These efforts are reflective of Binance's proactive stance against cybercrimes and its commitment towards enhancing the security within the digital asset ecosystem.

Sygnum Singapore's announcement on 3rd October 2023 concerning its acquisition of a Major Payment Institution Licence (MPIL) from the Monetary Authority of Singapore (MAS) echoes a burgeoning narrative of regulatory evolution in the city-state's digital asset sector. This development not only broadens Sygnum Singapore's service suite but also augments the city-state's stance as a burgeoning hub for digital asset enterprises.

Supreme Court on Tuesday passed the buck of providing legal sanctity to marriage between same-sex couples. The five-judge bench stated that it's not for the judiciary to make a law that expands the definition of marriage, but seemingly only to say it's the right thing to do. Instead, it's for Parliament to change the Special Marriage Act (SMA) 1954.

Supreme Court ruling on Monday on treating annual licence fees paid by telecommunication companies as capital expenditure is likely to create a hump in their tax outgo. But the effects over the entire licence period should not be significant. This is because the switch in accounting will raise future amortisation and depreciation charges.

Assam government has decided that all cabinet ministers will spend five days and five nights in a particular village. This decision was reached during a cabinet meeting held on Tuesday, indicating the government's commitment to grassroots engagement. During this period, foundation stones are set to be laid for 400 new buildings, including those for high and higher secondary schools.

Newsclick case: Millionaire Neville Roy Singham, who was accused of spreading China's propaganda in India in the Newsclick case that saw founder Prabir Purkayastha get arrested, has rejected all allegation in a four page rebuttal published on The Hindu. The Delhi Police has named Singham as as one of the accused in the Newsclick terror case. Singham has issued a rebuttal citing the New York Times artiocle that first brought attention to Newsclick.

Aware Super expects to invest up to $2 billion in small-scale solar and batteries through a partnership with privately owned Birdwood Energy. The investment will be in a distributed energy platform that would dodge the transmission logjam, which is putting a brake on the transition to renewables.

Ujjwala Yojna beneficiary will be given one cooking gas cylinder free of cost as a Diwali gift," the chief minister said in Bulandshahr. The chief minister asserted that before the BJP government assumed power at the national level in 2014, securing LPG gas connections had been a challenging endeavor. The Pradhan Mantri Ujjwala Yojana is a flagship initiative of the central government aimed at providing financial assistance for LPG connections to families falling below the poverty line (BPL).

Mumbai: Lightbox India Advisors Pvt. Ltd expects 10 out of its 14 portfolio companies in India to turn profitable over the next year, a top executive at the venture capital firm said. The company, which entered India in 2014 by acquiring six portfolio firms of venture firms Kleiner Perkins Caufield & Byers (KPCB) and Ram Shriram-led Sherpalo Ventures, has raised $450 million across three funds over the last decade and has backed the likes of Dunzo and Rebel Foods.