Prominent fiat payment rail services and neobanking platforms are becoming a catalyst to address institutional mistrust in the cryptocurrency sector.
Category: Traditional Finance
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US Treasury Report Warns of Defi’s Threat to National Security, Authors Conclude Fiat Is Used in Illicit Finance More Than Crypto
The U.S. Treasury has released a 42-page report assessing the risks of decentralized finance (defi). The report states that specific nation-state adversaries, cybercriminals, ransomware attackers, thieves, and scammers are using defi to “transfer and launder their illicit proceeds.” The Treasury’s report warns that defi could threaten national security and calls for policymakers to increase oversight. […]Powered by WPeMatico
Experts Predict Future Regulation of Crypto Exchanges by 2025, With Split Opinion on Similarity to Traditional Finance
Following finder.com’s reports on bitcoin and ethereum predictions, the product comparison site polled 56 specialists in the fintech and cryptocurrency industry to gauge their thoughts on future regulation of crypto exchanges. The experts predict that virtual currency trading platforms will be regulated, but not until 2025 or 2030. When regulation does occur, 76% of Finder’s […]Powered by WPeMatico
We Must Expedite the Move From Centralized Services to Viable DeFi Alternatives
There is a reason centralized exchanges have dominated despite being antithetical to crypto’s core tenets. The following opinion editorial was written by Bitcoin.com CEO Dennis Jarvis. The gross mismanagement and outright fraud in 2022 by many opaque centralized exchanges are driving people back to the core tenets of crypto, such as decentralization, self-custody, transparency, and […]Powered by WPeMatico
South African crypto landscape primed for TradFi growth after FSCA ruling
Industry insiders believe South Africa’s move to classify cryptocurrencies as financial products could drive the adoption and legitimacy of the sector.
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Defi Lending Startup Aave Launches Permissioned Platform to Entice Financial Institutions
On January 5, the open-source non-custodial decentralized finance (defi) lending platform Aave launched a permissioned version of the protocol aimed at institutions. The platform dubbed Aave Arc will leverage Fireblocks as the first whitelister as the platform aims to help bridge traditional financial institutions with defi. KYC-Centric Defi Liquidity: Aave Launches Aave Arc Permissioned Protocol […]Powered by WPeMatico
Bank of England’s Cunliffe: Crypto Threat to Financial Stability ‘Getting Closer’ — Urges Regulators to Act Now
Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, has warned that cryptocurrency is getting closer to posing a threat to global financial stability due to the sector’s rapid growth. Crypto is also being integrated into the traditional financial system at a rapid rate. He urges regulators to take action now. Bank of […]Powered by WPeMatico
Crypto poses imminent threat to financial stability: Bank of England Deputy Governor
Bank of England’s Sir Jon Cunliffe has urged British lawmakers to think “very hard” about the disruption integrating cryptocurrency with traditional finance could wreak.
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Precious Metals Firm Kitco Launches Gold-Backed Tokens Built on Ethereum
On August 4, the precious metals firm Kitco Gold announced the launch of a gold-backed stablecoin which will leverage an audit process via Cohen & Company with monthly attestation reports. Kitco has partnered with Tradewind Markets, First Digital Trust, and Stably, an asset tokenization provider. The gold-backed ERC20 tokens called “kitco gold (KGLD)” “represent one […]Powered by WPeMatico
Crypto Borrowing: Here Are Seven of the Best Interest Rates on the Market
Cryptocurrency is sizing up traditional finance on its legacy turf of lending and borrowing with competitive interest rates (currently as low as 0.44% for ethereum and 4.50% per year for bitcoin) as well as less cumbersome verification procedures. Crypto holders present their virtual assets as collateral to get loans paid out in fiat or stablecoin. […]
The post Crypto Borrowing: Here Are Seven of the Best Interest Rates on the Market appeared first on Bitcoin News.
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