commercial banks – DIGIT INFO

Experts Predict More Bank Failures in the US Following Interest Rate Hike and Unsettled Banking Crisis

DIGIT — Mon, 27 Mar 2023 18:30:08 +0000

After the recent bank collapses in the U.S., a number of people believe that more failures are coming following the Federal Reserve’s increase of the benchmark interest rate by 25 basis points (bps). American journalist Charles Gasparino insists that Wall Street’s “low-rate” junkies are ignoring the U.S. banking crisis. Quill Intelligence CEO Danielle DiMartino Booth […]

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Bank Holdups and Protests Continue to Rise in Lebanon as Depositors Demand Their Own Savings

DIGIT — Mon, 19 Dec 2022 23:30:53 +0000

On Dec. 17, reports detail that residents in Lebanon have been staging sit-ins and protests at banks in order to access their own savings accounts. Since the economic collapse in 2019, Lebanon’s banks froze Lebanese bank accounts, and a number of branches have remained closed indefinitely. The deprivation of wealth has caused a few impoverished […]

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Russia’s Digital Ruble Integrated Into Banking App

DIGIT — Sat, 12 Nov 2022 21:49:42 +0000

VTB has become the first Russian bank to add the digital ruble to its mobile application. The integration is currently being tested with accounts set up for legal entities. Select customers will be granted access in the coming months and will be able to join the trials. VTB’s Mobile App to Support Digital Ruble Transfers […]

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Report: South Korean Prosecutors Seek Software to Track and Monitor Crypto Transactions

DIGIT — Mon, 17 Oct 2022 08:30:19 +0000

South Korean prosecutors investigating a $7.22 billion money laundering case are reportedly seeking to acquire virtual currency tracking software to be used in monitoring crypto transactions. South Korean financial authorities also believe there is a tax evasion angle to the case. Real-Time Tracking According to a report, the Seoul Central District Prosecutors Office, which is […]

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Russian Banks Told to Track Crypto-Related Transactions Amid Currency Restrictions

DIGIT — Sat, 19 Mar 2022 17:30:17 +0000

Bank of Russia has recommended commercial banks pay heightened attention to their clients’ transactions related to cryptocurrencies. The regulator requires the financial institutions to monitor such activity against the backdrop of restrictions on currency operations amid western sanctions. Monetary Authority Urges Banks to Control Spending Linked to Crypto Assets The Central Bank of Russia (CBR) […]

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Bank of Russia to Monitor Banks’ Dealings With Crypto Exchangers

DIGIT — Fri, 21 Jan 2022 14:30:14 +0000

The Central Bank of Russia has started to examine the operations of Russian banks with cryptocurrency exchangers, according to local media. Transactions between individuals through these platforms are of particular interest as the regulator believes these carry risks of financial losses and fraud. Central Bank Asks Russian Banks for Details on Crypto-Related Transactions In late […]

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India’s Central Bank RBI Discusses Digital Currency and CBDC Launch With Minimal Impact on Monetary Policy

DIGIT — Wed, 29 Dec 2021 16:30:45 +0000

India’s central bank, the Reserve Bank of India (RBI), says a basic central bank digital currency (CBDC) model must be adopted initially and tested comprehensively to minimize the impact on the country’s monetary policy and banking system. The Indian apex bank sees several benefits in launching a digital rupee, including “a potential to enhance the […]

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‘Chinese Invented Paper Money and They Will End It’- Brazil’s Far-Left Praises Digital Yuan

DIGIT — Tue, 25 May 2021 12:30:02 +0000

Digital currencies, those issued by central banks in particular, have been commended for their “disruptive nature.” The praise comes from a publication associated with one of Brazil’s far-left parties. A recently published article claims that CBDCs such as China’s digital yuan can radically change global finances and government policies. Digital Yuan to Do Away With […]

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OCC’s Brian Brooks Against Government Issued Digital Dollar – Supports Regulation of Privately Issued Stablecoins

DIGIT — Sat, 31 Oct 2020 13:30:12 +0000

The acting director of the U.S. Office Comptroller of Currency (OCC) Brian Brooks says the creation of the U.S. digital dollar is a terrible one because the government is not good at building things. Instead, Brooks believes tech companies, which already possess the know-how, to be in a better position to issue stable digital currencies. […]

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China Adopts Security Standards for Blockchain Applications in the Financial Sector

DIGIT — Tue, 25 Feb 2020 05:45:19 +0000

Keeping the focus on blockchain development, banking authorities in China have issued a set of rules pertaining to the secure application of crypto-related technologies in the financial sphere. The new standards, the first of this kind, are to guide the work of developers and service providers operating in the industry. Also read: China Issues Digital […]

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