Two Major Russian Banks to Offer Crypto-Based Fund for Retail Investors
Major Russian banks Sberbank and Alfa-Bank reportedly testing new crypto-based investment fund to include Bitcoin, Ethereum and Litecoin Go to Source Powered by WPeMatico
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As Korean Crypto Exchanges Step Up AML Compliance, Banks Are Failing
As the South Korean government steps up its anti-money laundering (AML) oversight, major crypto exchanges in the country are voluntarily complying while banks are reportedly failing to meet the guidelines for compliance. South Korea has also been discussing ways to boost crypto-related AML measures with the U.S. Also read: Yahoo! Japan Confirms Entrance Into the Crypto … Read more
BIS GM Argues New Cryptos Are “the Alchemy of the Age of Innovation”
The Bank of International Settlements (BIS), a transnational institution owned by and comprised of central banks that seeks to “fosters international monetary and financial cooperation and serves as a bank for central banks,” recently published its quarterly review of “International banking and financial market developments” for June 2018. The report includes an op-ed written by … Read more
India’s RBI Eyeing Own Crypto Is Sign of Potential Ban Reversal, Says Ripple Chief
Ripple’s global head of infrastructure innovation expects India’s central bank to rescind its crypto ban, based on its inquiry into own digital currency Go to Source Powered by WPeMatico
South Korean Government Agency Seeks Direct Supervision Over Crypto Exchanges
The South Korean government is reportedly seeking to bring cryptocurrency exchanges under the direct supervision of the country’s Financial Intelligence Unit. This will obligate crypto exchanges to follow anti-money laundering directives like banks do. This is the first time a government agency has said it will oversee crypto exchanges. Also read: Yahoo! Japan Confirms Entrance Into … Read more
Bank of Canada: Blockchain Not More Effective Than Central Bank System ‘at This Time’
Bank of Canada implies blockchain technology is no magic remedy for banking Go to Source Powered by WPeMatico
Banks and Cryptocurrencies Global Evaluation: The Middle East
Muslim entrepreneurs, investors, and governments are intent on being leaders in the competitive global marketplace Go to Source Powered by WPeMatico
Ripple: Banks Unlikely to Apply Blockchain for Cross-Border Payments in Near Future
Ripple’s chief cryptographer David Schwartz claims banks will not use blockchain for cross-border payments in near future Go to Source Powered by WPeMatico
Report: Suspicious Transactions at Korean Exchange Coinrail Months Before Hack
Following the announcement by South Korean crypto exchange Coinrail that it has been hacked, a local publication reported that some banks had identified suspicious transactions at the exchange and stopped providing services to company months before the incident. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Suspicious Transactions Detected South Korea’s seventh-largest cryptocurrency exchange, … Read more
South Korean Banking Group to Launch Blockchain-Powered ID Verification Platform
South Korea’s commercial banking group to launch a blockchain-based customer ID verification platform in July Go to Source Powered by WPeMatico