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Bank of America Establishes Cryptocurrency Research Team
9.7.2021
Bank of America has become the latest major bank to make a foray into the cryptocurrency sector. According to an internal memo, the bank has created a team dedicated to researching cryptocurrencies. Bank of America believes that it is “uniquely positioned to provide thought leadership”...
Financial Advisor Survey: 26% Plan to Recommend Cryptocurrencies Over Next 12 Months
1.7.2021
A recent survey of financial advisors and their investing strategies shows “a significant shift to embracing cryptocurrencies.” More than 26% indicated that they plan to increase their recommendation of cryptocurrencies over the next 12 months. Furthermore, 49% of advisers said that...
British Bank Natwest Imposes Daily Limit on Transfers to Cryptocurrency Exchanges Over Fraud Concerns
30.6.2021
A major British bank, Natwest, has put a limit on fund transfers to cryptocurrency exchanges over concerns of fraud and scams related to cryptocurrencies. The bank is also blocking payments to a number of cryptocurrency asset firms. Natwest says the two moves are necessary to protect customers....
Bank of Tanzania Hints at Possible Crypto Ban Reversal as Spokesman Confirms Bank Is ‘Working on the Directives Given’
28.6.2021
In a hint that Tanzania might soon reverse its 2019 crypto ban, an unnamed spokesperson of the Bank of Tanzania (BOT) recently suggested the apex bank is “working on the directives given.” The remarks by the spokesperson follow Tanzanian President Samia Suluhu Hassan’s call on...
Africrypt Ponzi Scheme Collapse: South Africa Regulator Says Its ‘Not in a Position to Take Any Regulatory Action’
25.6.2021
Following Africrypt’s collapse, South African regulator, the Financial Sector Conduct Authority (FSCA), released a statement asserting its lack of jurisdiction over cryptocurrencies. Although the regulator says it is “continuing to investigate complaints” against the crypto...
Coinbase Approved to Enter Japanese Cryptocurrency Market
23.6.2021
Coinbase is now registered as a cryptocurrency exchange to operate in Japan. The Japanese financial regulator has approved Coinbase to trade five cryptocurrencies. Japan’s top financial regulator, the Financial Services Agency (FSA), announced last week that it has registered Coinbase as...
Waste Coal-Converting Bitcoin Miner Stronghold Digital Mining Raises $100 Million
23.6.2021
On Tuesday, Stronghold Digital Mining, Inc., an ESG-friendly cryptocurrency miner announced it has raised $105 million in two private equity securities funding rounds. Stronghold’s operations convert waste coal into alternative energy in order to mine bitcoin and other cryptocurrencies....
Grayscale Considering 31 Crypto Assets for Investment Products
20.6.2021
Grayscale Investments is considering 31 crypto assets to add to its family of investment products. The company, with $32.9 billion in crypto assets under management, currently offers investments in 13 cryptocurrencies. Grayscale Investments announced Friday 13 additional crypto assets it...
Danske Bank Takes Position on Cryptocurrencies, Will Not Interfere With Crypto Trading
19.6.2021
Danske Bank will not block credit cards used in crypto trading, according to its newly announced position on cryptocurrencies. The Danish bank would also accept deposits related to crypto investments, although it follows a cautious approach towards decentralized digital assets. Denmark’s...
Tanzanian President Wants Central Bank Chiefs to ‘Prepare for Cryptocurrency’
15.6.2021
Tanzanian President Samia Suluhu Hassan has urged her country to be ready for emerging fintech by paving the way for cryptocurrencies. She also urged the country’s central bank to begin the necessary preparations for a step-change in global attitudes towards banking. However, in her address...
UK Police Lobbying for New Laws Allowing Them to Freeze Cryptocurrencies
13.6.2021
UK police are lobbying the government to change the laws to allow them to freeze cryptocurrencies. Scotland Yard detectives say currently account-freezing orders do not apply to cryptocurrency wallets, making it difficult for the police to stop criminals from transferring funds. UK Police Want...
Denmark to Revise Tax Law to Target Cryptocurrencies
10.6.2021
The Danish tax ministry is reportedly mulling over revising the country’s tax law to deal with the challenges posed by cryptocurrencies. Denmark’s tax authority is concerned about the rising risk of fraud and widespread filing errors involving cryptocurrencies. Denmark to Revamp Tax...
Amundi Executive Pascal Blanque Calls Cryptocurrencies a Farce
5.6.2021
Pascal Blanque, CIO of Amundi, one of the biggest asset managers in Europe, has stated that bitcoin and other cryptocurrencies are a farce, exposing its skeptical stance on the real value of cryptocurrencies. The investor stated that crypto assets are an expression of markets making bubbles...
Crypto CFDs Are Popping Up Like Mushrooms – Here’s Why
4.6.2021
Thanks to its high volatility and price momentum, cryptocurrency is an increasingly popular asset class amongst retail day traders. CFDs that track price changes in major tokens make cryptos even more accessible for investors without the steep learning curve that traditionally accompanies...
Daymak to Launch Crypto Mining Vehicle by 2023
3.6.2021
Daymak, a Canada-based electric vehicle company, has announced the Daymak Spiritus, an electric car that will be able to mine cryptocurrencies. According to the specs, it will also feature solar charging to lessen the load on the battery while driving. The company, which has only offered the...
Coinbase Card Integrates With Apple Pay and Google Pay — Cardholders Can Use Crypto for Payments, Earn Rewards
1.6.2021
Coinbase Card can now be used with Apple Pay and Google Pay, allowing cardholders to pay for goods and services using cryptocurrencies. Customers can also earn up to 4% in crypto rewards back when using their Coinbase Card with Apple Pay or Google Pay. Coinbase Enables Debit Card Use With Google...
Major British Bank Natwest Alerts Customers With Tips to Avoid Cryptocurrency Scams
31.5.2021
Major British bank Natwest has launched an alert to urgently warn its customers of cryptocurrency scams, which have been on the rise. The bank has provided several tips for customers “thinking of investing in bitcoin or other cryptocurrencies” on how to spot scams involving...
JPMorgan Boss Jamie Dimon Personally Advises People to ‘Stay Away’ From Cryptocurrency
30.5.2021
JPMorgan Chase CEO Jamie Dimon has given personal advice to investors regarding investing in cryptocurrencies, like bitcoin. He said that his own personal advice to people is to “stay away” from cryptocurrencies. However, his bank, JPMorgan, will not stay away as clients want exposure...
Zimbabwean Fintech Lawyer and Proponent Pushes for Crypto Regulation via Private Legislative Bill
28.5.2021
A Zimbabwean fintech lawyer, Prosper Mwedzi, recently initiated a process that seeks to bring recognition and regulation of cryptocurrencies. Under this private member bill procedure, a legislative proposition initiated by private citizens will be debated in the Zimbabwean parliament. If the crypto...
Ray Dalio Buys Bitcoin Despite Saying Governments May Ban Cryptocurrencies
25.5.2021
Bridgewater Associates founder Ray Dalio has revealed that he owns bitcoin despite concerns he has long voiced about governments interfering and even outlawing cryptocurrencies. The boss of the world’s largest hedge fund said “bitcoin’s greatest risk is its success.”...