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Crypto Products – a Norm for US Financial Firms; DeFi Grows
19.5.2021
While the cryptocurrency market is facing a tough period, it is not losing at all. Recently, a leading derivative marketplace announced Micro Bitcoin futures, helping the crypto sector showcase its relevance. The platform will help investors avoid high costs to improve their crypto investment...
South Korean Ministries ‘Do Not Want’ to Take Charge of Crypto-Related Regulation, Claims Official
18.5.2021
The crypto regulation crisis is on fire in South Korea, as politicians have struggled to reach agreements with top government officials to ease rulings. A local media outlet reveals that South Korean ministries “do not want” to take charge of the country’s digital assets’...
State-backed digital currencies can disrupt financial systems: Report
18.5.2021
While CBDCs could help central banks address the decline in cash payments, some risk factors remain
Spanish Regulator Issues Guidelines for Fund Managers Planning to Invest in Cryptocurrencies
18.5.2021
The Spanish financial regulator is easing the entity’s tough stance towards cryptocurrencies by announcing an unprecedented measure that green lights institutional investors to enter into such business decisions. The National Securities Market Commission (CNMV) unveiled guidelines that...
Biggest Layoffs in US Banking History: Analyst Predicts Banks to Cut 200,000 Jobs
18.5.2021
A Wells Fargo analyst has predicted the largest “reduction in U.S. bank headcount in history.” Banks are expected to cut 200,000 jobs as they strive to improve productivity and efficiency amid rising competition from fintech and non-bank financial institutions. US Banking Sector...
Ethereum’s Q1 Stats Report Highlights Blockchain’s ‘Ultra Sound’ Financial Growth in 2021
17.5.2021
During the first three months of 2021, the cryptocurrency ethereum has shined as 90-day statistics highlight the digital asset has climbed close to 80% in value. On Monday, former Ark Invest analyst James Wang published a detailed summary highlighting the Ethereum project’s first-quarter...
Brazilians Can Now Bet on President Bolsonaro’s Reelection Bid on FTX
17.5.2021
Crypto derivatives exchange FTX has launched a futures contract that allows Brazilian voters and traders in jurisdictions where the platform is available to bet on the outcome of Brazil’s next presidential election. With health and financial crises looming in the country, Jair...
Liberian Central Bank Asks Local Crypto Startup to Drop its Plan to Launch a Digital Asset
15.5.2021
The Central Bank of Liberia (CBL) has warned against a local crypto startup’s plan to proceed with the introduction of a digital financial product without adhering to the required regulation. According to the CBL, this act will not only be illegal but this will likely “undermine...
Bank of Korea to Monitor Crypto Transactions Using Financial Records
15.5.2021
South Korea’s monetary policy regulator, Bank of Korea, plans to obtain documents from financial institutions to track crypto transactions involving bank accounts. Cryptocurrency prices fluctuate independently from the real economy, the bank says, adding that market growth could pose a risk...
Diginex's crypto custody arm receives green light from UK financial watchdog
14.5.2021
The firm said clearing the regulatory hurdle had the potential to drive more institutional investors towards crypto custody solutions
Official Remittances to Nigeria Plummet by Almost 40% in a Year When Crypto Use Surged
14.5.2021
According to the latest data from the World Bank, international money transfers into Nigeria dropped by nearly 40% from $23.8 billion recorded in 2019 to $17.2 billion in the past year. Yet despite this fall, remittances, which account for 4% of the country’s GDP, still remain an important...
Big Time Studios Aims to Bring NFTs to the Masses, Set to Raise $21 Million in Funding
14.5.2021
The Los Angeles-based company Big Time Studios has announced the company is set to raise $21 million in two funding rounds backed by a number of investors. The company’s founder Ari Meilich was the CEO and co-creator of the Ethereum metaverse Decentraland. Big Time Studios aims to bring...
South Korean Banking Association Concerned Over Surge of the Altcoin Trading Frenzy
12.5.2021
A banking association in South Korea recently added weight to regulatory discussions across the country, raising concerns about the high altcoin trading volume. The Korea Federation of Banks (KFB) requested its members to audit trading volumes through their crypto exchanges’ customers’...
100,000 Micro Bitcoin Futures Trade on CME Exchange in First Six Days
12.5.2021
More than 100,000 micro bitcoin futures traded on CME in the first six days since launch, the exchange has revealed. CME’s global head of equity index says that this new smaller contract, along with the full-size bitcoin futures, strengthens the exchange’s ability to help a broad array...
Palantir to Accept Bitcoin for Services, Considers Keeping BTC on Its Balance Sheet
11.5.2021
Palantir Technologies, the Peter Thiel-backed, American software company specializing in big data analytics, announced Tuesday that company plans to accept bitcoin for services. Further, like a variety of corporate entities that are accepting and holding bitcoin, Palantir is considering keeping...
El Corte Ingles Files for a Crypto-Related Trademark to Provide ‘Financial Services’
11.5.2021
El Corte Inglés, the biggest department store group in Spain, seems to be entering into the cryptocurrency sphere. After filing for a related trademark with the Intellectual Property Office of the European Union, they have registered “Bitcor”. Trademark Is a ‘Preventive...
Bank of Russia Tests Services Related to Cryptocurrencies
9.5.2021
Russia’s central bank has examined three platforms offering crypto-related services. The projects have been tested in its regulatory sandbox in the course of 2020. Bank of Russia has received dozens of requests to pilot various financial services since it created the closed regulatory...
GameStop saga paves the way for a new decentralized financial order
9.5.2021
The GameStop saga may indicate a paradigm shift in the financial system or even the creation of an entirely new one
Ukraine’s Public Radio Launches Podcast With an Episode on Bitcoin
9.5.2021
In an attempt to expand and diversify its audience, the public radio of Ukraine has recently entered the world of podcasts. Listeners have been invited to choose among a variety of topics and genres. A podcast devoted to personal finance management and financial literacy kicks off with an episode...
South African Regulator Apologizes to Crypto Firm After Issuing Then Withdrawing a Warning in Less Than 24 Hours
9.5.2021
South Africa’s Financial Sector Conduct Authority (FSCA) has apologized to a Cape Town-based crypto start, Ovex, less than 24 hours after warning that the firm was operating outside the law. Ovex Does Not Require Licence From FSCA In its May 7 retraction, the financial watchdog said...