EU lawmakers passed a law Jan. 24 that mandates banks invested in crypto to hold the euro equivalent of their crypto investments as capital, Reuters reported. The requirement will come into force in January 2025 to give banks enough time to adjust their finances, according to Reuters. The bill was approved with the purpose of…
Visa CEO Alfred Kelly disclosed the company is working on a number of central bank digital currency (CBDC) and stablecoin initiatives, San Francisco Business Times reported. Speaking during Visa’s annual meeting on Jan. 24, Kelly said that the company was looking to expand its role in the crypto industry but added that it will do…
Switzerland-based private bank Cité Gestion has reportedly teamed up with Taurus technology to tokenize and manage its company shares on the Ethereum blockchain. As per Coindesk’s report, Cité Gestion will leverage Ethereum’s smart contract functionalities to create, distribute and manage the servicing of its shares. Taurus said that the tokenization of Cité Gestion’s shares was…
Binance said that Signature Bank would only issue crypto transactions worth at least $100,000 starting from Feb. 1, 2023, as reported by Business Standard (BS). Binance said: “One of our fiat banking partners, Signature Bank, has advised that it will no longer support any of its crypto exchange customers with buying and selling amounts of…
A rural Washington-based bank with extensive ties to FTX is closing its clients’ crypto accounts, Forbes reported Jan. 19. Forbes stated that, based on communications that it has obtained, Moonstone is informing clients that it plans to close those accounts. Moonstone has reportedly asked clients to end their transactions and move their funds to another…
Former governor of the Indian central bank Raghuram Rajan said that the collapse in crypto prices last year suggests that the industry has received its deserved fate, according to Reuters. However, the fall in price will enable investors to focus on the “true value” of digital assets, distributed ledger technology and smart contracts, Rajan said….
National Australia Bank (NAB) — one of the four largest banks in the country — is gearing up to launch a stablecoin on the Ethereum (ETH) network, the Australian Financial Review (AFR) reported. The stablecoin called AUDN will be backed 1:1 by Australian Dollars (AUD) held on trust at NAB. AUDN 2022 mint The NAB…
Japanese regulators are calling for other countries to regulate cryptocurrency like banks, according to a report from Bloomberg on Jan. 16. Mamoru Yanase, Deputy Director General for the strategy bureau at Japan’s Financial Services Agency (FSA), spoke to the news company. He said: “Crypto has become this big…If you like to implement effective regulation, you…
Binance announced on Jan. 16 the launch of a settlement platform that will allow institutional users to access exchange services while storing funds off-exchange. The new service, called Binance Mirror, will be available to institutional users who lock their assets in Binance Custody’s cold storage service. Those users will be able to “mirror” the balance…
Reserve Bank of India (RBI) governor Shaktikanta Das called for a ban on crypto during a recent conference, according to a Jan. 13. report from India Today. Das said that the central bank’s stance on cryptocurrency “is very clear – it should be banned.” He went on to state that cryptocurrency “does not have any…