MakerDAO voting on $100M loan participation with Florida commercial bank
Florida’s Cogent Bank is proposing a $100 million participation in loans to MakerDAO’s RWA Master Participation Trust. Go to Source Powered by WPeMatico
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Industrial Giant Siemens Issues €60 Million Digital Bond on Blockchain
German conglomerate Siemens has for the first time issued a blockchain-based digital bond denominated in euros. In an announcement, the corporation highlighted the benefits of using blockchain, including the opportunity for direct sale to investors. Digital Bond Issued Under Germany’s Electronic Securities Act The largest industrial manufacturer in Europe, Siemens, announced it has become one … Read more
Proposed EU parliament rule could have banks apply 1,250% risk weight to crypto exposure
The proposed rule change, putting crypto at one of the highest risk ratings at financial institutions, could go into effect until December 2024. Go to Source Powered by WPeMatico
Crypto bank Silvergate ranks as the second most-shorted stock on Wall Street
Over 72% of Silvergate Capital Corp stocks were shorted as of Jan. 31, shows FINRA’s latest data. Go to Source Powered by WPeMatico
‘Midnight Massacre:’ SEC Crackdown on Crypto Staking Services Prompts Speculation of Further Enforcement Actions
On Feb. 9, 2023, the cryptocurrency community learned of the U.S. Securities and Exchange Commission’s (SEC) crackdown on staking services. The SEC fined Kraken, a cryptocurrency exchange, $30 million for offering an “unregistered offering” related to its U.S. staking service. Digital currency advocates are now debating what constitutes a yield product versus a noncustodial solution … Read more
Banks under pressure from U.S. authorities to cut ties with crypto firms
Banks are allegedly being discouraged from offering services to the crypto industry by United States authorities. Go to Source Powered by WPeMatico
German DekaBank plans to launch tokenization platform by 2024
DekaBank’s partnership with Metaco is not about cryptocurrencies like Bitcoin but the tokenization of bonds and stocks. Go to Source Powered by WPeMatico
Banks in Russia to Lose $700 Million a Year Due to Digital Ruble, Experts Say
Russian banks may be the main losers from the introduction of a digital ruble while retailers will save on acquiring fees, analysts have predicted. The benefits for consumers using the new digital currency are not that obvious as they may not be paid any interest or cashback. Launch of Russia’s Digital Ruble Said to Result … Read more
US lawmakers renew request for answers from Silvergate on FTX: Report
Silvergate reportedly cited restrictions on disclosing “confidential supervisory information” related to the collapse of FTX in response to a similar December 2022 letter. Go to Source Powered by WPeMatico
Crypto Bank Custodia Denied Membership in US Federal Reserve System
The U.S. Federal Reserve Board has rejected the attempt of Custodia Bank to become member of the Federal Reserve System. According to the decision announced Friday, the application submitted by the digital asset bank is inconsistent with legal requirements. Federal Reserve Board Says Business Model Proposed by Custodia Bank Presents Risks Crypto bank Custodia has … Read more