Tag: Bank

South African Reserve Bank Supports Friendly Crypto Operations

Adewumi Victor

According to the banking regulator, minimizing risk by disconnecting crypto-related consumers may represent a “threat” to financial integrity. The Reserve Bank of South Africa’s Prudential Authority advised its subsidiaries to avoid illegal activity, asking banks not to terminate all links with bitcoin. It implied that such an act might pose a higher risk in the long term. Prudential Authority CEO Fundi Tshazibana signed the formal notification. Certain South African banks have already severed links with crypto asset service providers (CASPs), as referred to in the letter, due to unclear laws…

Bank of America Affirms investor interest hasn’t been frozen despite concerns about the crypto winter.

Peter Olaoluwapo

According to research released by Bank of America (BAC) on Tuesday, following its Web3 & Digital Assets Day Conference last week, investor interest in the industry has not been affected by worries of a so-called “crypto winter.” According to the report, discussions with some of the 160 clients who attended the event made it evident that “blockchain technology and the digital asset ecosystem are here to stay,” and the bank is still enthusiastic about the adoption of digital assets by the general public. The bank stated that while recent market…

Argentina Was at the Cusp of a Crypto Boom. The Central Bank Had Other Plans

Anthony B

According to sources, the BCRA’s decision generated bewilderment among the numerous exchanges operating in Argentina, which have recorded high growth rates in the last three years, largely because Argentines are not prevented from acquiring dollar-pegged stablecoins on their platforms. Consequently, in 2021, for example, the use of stablecoins increased sixfold, with DAI leading the way. Author: Source link

US Fed hikes interest rates, Bitcoin plunges below $36K, and Argentina’s central bank says no to financial institutions offering crypto: Hodler’s Digest, May 1-7

Cointelegraph By Editorial Staff

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Fed hikes interest rates by 50 basis points in effort to combat inflation On Wednesday, the United States Federal Open Market Committee (FOMC) voted to raise interest rates by 0.5%, marking its biggest upward adjustment in over two decades. It was the second rate increase…

Argentina’s central bank steps in to block new crypto offerings from banks

Jesse Coghlan

The central bank of Argentina (BCRA) has put the kibosh on financial institutions offering crypto trading only days after two of the country’s largest banks signaled they were opening up to digital assets. On May 5 the BCRA said the move was to mitigate the risks crypto poses to users and “to the financial system as a whole” citing crypto’s high volatility, use in money laundering and absence of regulatory safeguards. The news came hot on the heels of an announcement on Monday from two of the countries largest banks,…

Ukraine’s Central Bank Bans Crypto Purchases in Local Currency

Jamie Crawley

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase…

China’s Central Bank Adds More Digital Yuan Pilot Cities – Altcoins Bitcoin News

Kevin Helms

China’s central bank, the People’s Bank of China, has added more cities to test its digital currency. According to the latest official data, the digital yuan has more than 261 million users. PBOC Adds More Cities to Test Its CBDC The Chinese central bank, the People’s Bank of China (PBOC), said Saturday that it is adding more pilot cities to test its central bank digital currency (CBDC), the digital yuan (e-CNY). The new pilot cities are Tianjin, Chongqing, Guangzhou, Fuzhou, Xiamen, and six cities in the Zhejiang province that will…