Financial Services – Page 2

Belgian financial regulator orders Binance to cease all virtual currency services

The regulator said Binance must cease “with immediate effect” all crypto-related services in Belgium after being unable to provide sufficient information on its non-EEA companies.

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French financial markets ombudsman reports jump in crypto-related mediations

The Autorité des marchés financiers ombudsman saw mediation requests rise by almost a quarter in a year; the number of digital asset service providers more than doubled in that time.

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Crypto retail trading should be regulated as gambling: UK lawmakers

The volatility and purported lack of intrinsic value of most crypto assets make it particularly risky for consumers, the politicians claimed.

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BNP Paribas teams up with Bank of China to promote digital yuan usage

The partnership will enable BNP Paribas China’s corporate clients to make payments using the digital yuan through an e-CNY management system.

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Financial Services chair McHenry send SEC second request for records related to SBF arrest

Sam Bankman-Fried was arrested just before his committee appearance was scheduled.

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‘Not Related to a Digital Currency’ — US Central Bank Addresses Concerns Over Fednow Payment Network

The U.S. Central Bank has issued an update regarding the Federal Reserve’s Fednow project, which is scheduled to commence in July. The Fed has responded to recent criticism of the Fednow service and asserts that the Fednow payment network is “neither a form of currency nor a step toward eliminating any form of payment, including […]

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Report: Binance US Struggles to Secure Banking Partner Amid Regulatory Crackdown on Crypto Industry

Following the collapse of Silvergate Bank, Silicon Valley Bank, and Signature Bank, cryptocurrency companies have been seeking new banking partners in the United States. According to a recent report citing “sources familiar with the matter,” Binance US, the American subsidiary of the cryptocurrency exchange, is having difficulty finding a U.S. banking partner. Unnamed Sources Say […]

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Crypto Ads in Belgium to Feature ‘Punchy Warning’ of Risks, New Rules Imply

The financial regulatory body of Belgium has been tasked by the government to regulate advertisements for cryptocurrencies. New rules, set to enter into force in May, oblige advertisers to clearly warn investors of the risks associated with the digital assets. Belgium Poised to Protect Consumers From Misleading Crypto Advertisements Belgium’s Financial Services and Markets Authority […]

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Flagstar Bank Acquires Signature Bank’s Assets and Branches, Excluding Cryptocurrency Operations

On Monday, about a week after the collapse of Signature Bank, the Federal Deposit Insurance Corporation (FDIC) announced that Flagstar Bank, a wholly owned subsidiary of New York Community Bancorp, acquired 40 former branches of Signature and its assets. Flagstar assumed nearly all of Signature’s deposits, except for $4 billion of deposits related to the […]

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Silicon Valley Bank Failure Highlights Dangers of Fractional-Reserve Banking

After the failure of Silicon Valley Bank (SVB), a great deal of Americans are starting to realize the dangers of fractional-reserve banking. Reports show that SVB suffered a significant bank run after customers attempted to withdraw $42 billion from the bank on Thursday. The following is a look at what fractional-reserve banking is and why […]

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