Sen. Elizabeth Warren calls crypto the ‘new shadow bank‘
The Massachusetts senator said that it’s “worth considering” banning U.S. banks from holding the reserves to back private stablecoins. Go to Source Powered by WPeMatico
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Banks vs. exchanges — regulators overwhelmingly penalize fiat, not crypto
Data from a recent report suggest that enforcement actions from U.S. regulators against those in the crypto space cost those firms less than 1% of that in traditional finance for the last 20 years. Go to Source Powered by WPeMatico
Nigeria’s securities regulator establishes fintech unit to study crypto
With much of the Nigerian crypto market underground or peer-to-peer due to government restrictions, the country’s securities regulator is looking into ways to make investors safer. Go to Source Powered by WPeMatico
IRS Agent Poses as Bitcoin Trader Called ‘Mr. Coins,’ Biden’s IRS Wants ‘Outflow and Inflow’ Data From Banks
Over the last few weeks, Americans have read about the U.S. Internal Revenue Service (IRS) upping its tax enforcement to catch cryptocurrency users who have not paid taxes. According to one report, the IRS may get access to bank inflows and outflows via Joe Biden’s American Families Plan. On top of this, another story explains … Read more
Russian Sberbank plans to register its digital asset tool in September
As the largest banking and financial institution in Russia and one of the world’s biggest public companies, Sber’s move into digital assets is a significant one. Go to Source Powered by WPeMatico
UK-based banking firm Standard Chartered joins Global Digital Finance patron board
The bank joins Coinbase, Huobi, SIX Digital Exchange, 100x Group, and other industry leaders to advocate for the adoption of digital assets. Go to Source Powered by WPeMatico
Chinese Banks Seek New Applications for Digital Yuan in Investment and Insurance
Two Chinese banks are expanding their pilot programs for the digital national fiat. The state-owned financial institutions have revealed they are aiming to allow digital yuan holders to acquire investment funds and insurance products using the new currency. Chinese Banks Partner With Fund Managers and Insurers in Search of Digital Yuan Use Cases China Construction … Read more
Chinese banks explore e-yuan for selling investment funds and insurance
Bank of Communications and China Construction Bank are working with fund managers and insurers to facilitate e-yuan payments for Chinese citizens. Go to Source Powered by WPeMatico
MUFG boosts its crypto exposure following $41M Zipmex funding round
Thailand’s Bank of Ayudhya, where MUFG holds a 76.9% stake, has participated in a $41 million raise for Asia-Pacific-focused crypto trading platform Zipmex. Go to Source Powered by WPeMatico
Standard Chartered launches blockchain trade platorm with Chinese fintech
The joint venture operating the new blockchain-powered platform will be headquartered in Singapore and led by SC Ventures’ Amelia Ng as CEO. Go to Source Powered by WPeMatico