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The financial regulator of Taiwan has asked local banks not to allow the use of cards for payments in transactions involving cryptocurrencies, local media revealed. The authority says these assets are risky while associated cash flows are hard to monitor. Taiwanese Regulator Urges Banks Not to Allow Crypto-Related Payments With Bank Cards Taiwan’s Financial Supervisory … Read more
The Central African Republic, one of the nations served by the Bank of Central African States, passed legislation adopting Bitcoin as legal tender in April. Go to Source Powered by WPeMatico
The Financial Superintendence of Colombia presented a project that seeks to bring clarity to how links between banks and virtual asset service providers (VASPs) will be handled in the future. The document defines certain key concepts and determines a set of prerequisites that banks need to verify before accepting virtual asset service providers as customers. … Read more
Backed by a sanctioned Russian oligarch, Atomyze became Russia’s first legal digital asset manager, obtaining registration from the central bank in February 2022. Go to Source Powered by WPeMatico
Many respondents from major banks said the technology would likely be unimportant for liquidity management practices until 2027. Go to Source Powered by WPeMatico
A Russian university is ready to test its blockchain-based analogue to the global payment messaging network SWIFT, from which Russian banks were cut off as part of Western sanctions. The developers say their system would not allow the disconnecting of countries and banks. Russian Developers Create SWIFT Substitute Using Blockchain Experts from the Competence Center … Read more
Access to CBDCs reduces banks’ need to insure against liquidity risks and gives policymakers greater information about trouble in the financial system, according to the study. Go to Source Powered by WPeMatico
GMEX has acquired ING’s Pyctor business to connect CeFi and Defi amid the increasing demand for hybrid finance. Go to Source Powered by WPeMatico
Puerto Rico regulators closed down Schiff’s bank for not maintaining the net minimum capital requirements. As a result, customers lost access to their accounts following a subsequent freeze. Go to Source Powered by WPeMatico
Blockchain tech is pushing the boundaries of ID management as governments look for scalable solutions that promote privacy, control and decentralized data management. Go to Source Powered by WPeMatico