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Financial Institutions – Page 10 – DIGIT INFO

Financial Institutions

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Central Bank of Nigeria Orders Banks to Close Accounts of Crypto Clients as Remittances via Traditional Corridors Drop by 97%

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The Central Bank of Nigeria (CBN) has circulated a letter directing banks and financial institutions to identify and close accounts of cryptocurrency transacting entities. The directive, which took immediate effect, threatens “severe regulatory sanctions” to financial institutions that fail to comply. Banks Taking Immediate Action Immediately following the letter’s publication, some banks and other financial … Read more

Data Shows 78% of the Circulating Bitcoin Supply Is Illiquid, Only 4.2M BTC in Constant Circulation

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Onchain statistics show 78% of the circulating bitcoin supply is illiquid and barely accessible according to Glassnode research. Data indicates that the analysts have classified 14.5 million bitcoin as illiquid and only 4.2 million bitcoin in constant circulation. One of the most treasured parts of the Bitcoin (BTC) protocol is the fact that the system … Read more

Unbanked Hong Kong Chief Carrie Lam: “I Have Piles of Cash at Home”

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Hong Kong Chief Executive Carrie Lam says she is currently unbanked and keeps piles of cash stashed at her home courtesy of US sanctions. Alongside 14 Chinese and Hong Kong officials, Lam has been slapped with punitive measures that effectively cut her off from the banking system. The US government announced the sanctions in response … Read more

US Banks Face a Massive Commercial Real Estate Crisis Looming on the Horizon

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Financial incumbents may face a harsh reality soon, as a commercial real estate crisis has threatened the profits from America’s largest banks. A number of reports show that banks with a large amount of commercial real estate in their portfolios may see a significant fallout in the next few months. Just recently PWC’s real estate … Read more

Keiser Insists ‘Bitcoin Inversely Correlated To USD Not Stock Markets’ After Crypto Market Tumble

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Reports that global banking giants helped criminals launder money for close to two decades helped spark the crash of global stock markets on Monday, September 21. Also tumbling in tandem with stocks were cryptocurrencies thus leading to renewed concerns that digital assets are intertwined with the global financial system. However, these concerns are dismissed by … Read more

5 Major Banks Exposed for Moving Trillions for Mobsters, Onecoin, and Drug Cartels

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According to the International Consortium of Investigative Journalists (ICIJ), five major global banks have been exposed funneling trillions of dollars in criminal funds in the recently leaked FinCEN Files. The massive leak is 2,100 documents spanning from 2000 to 2017 which shows fraudulent funds flowed almost effortlessly through JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank, … Read more

From Buenos Aires to Beirut – Covid-19 Excuse Restricts Millions of Citizens from Withdrawing Their Own Money

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The coronavirus and the government-induced lockdowns have wreaked havoc on the global economy and millions of people can’t access their own money. Reports from financial stricken areas like Venezuela, Argentina, and Lebanon show that citizens are being stopped from accessing their own hard-earned savings. The news shows the great importance of censorship-resistant money and how … Read more

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