The Reserve Bank of India (RBI), the nation’s central bank, said it “ringfenced” financial institutions from dealing with cryptocurrencies over a range of perceived risks. In a response to a petition from the Internet and Mobile Association of India (IAMAI) – which is currently fighting the central bank in the nation’s Supreme Court on behalf of companies affected by the RBI’s April 2018 order – the RBI said that in restricting bank involvement it had not banned cryptocurrency use generally in India. The Economic Times said in a report Tuesday…
Month: January 2020
India’s Central Bank Explains Why It Blocked Banks From Using Cryptos in Court Filing
The Reserve Bank of India (RBI), the nation’s central bank, has explained that it “ringfenced” financial institutions from dealing with cryptocurrencies over a range of perceived risks. In a response to a petition from the Internet and Mobile Association of India (IAMAI) – which is currently fighting a supreme court case over the issue on behalf of companies affected by the April 2018 order – the RBI further said that in restricting bank involvement, it had not banned cryptocurrency use generally in India. The Economic Times said in a report…
India’s Central Bank Explains Why It Blocked Banks From Using Cryptos in Court Filing
The Reserve Bank of India (RBI), the nation’s central bank, has explained that it “ringfenced” financial institutions from dealing with cryptocurrencies over a range of perceived risks. In a response to a petition from the Internet and Mobile Association of India (IAMAI) – which is currently fighting a supreme court case over the issue on behalf of companies affected by the April 2018 order – the RBI further said that in restricting bank involvement, it had not banned cryptocurrency use generally in India. The Economic Times said in a report…
Australian Financial Regulator Could Oversee Facebook’s Calibra Wallet
The Australian Prudential Regulation Authority (APRA) is seeking to oversee stablecoin projects like Facebook’s controversial stablecoin Libra. In an official proposal to the Senate published on Jan. 20, APRA submitted a possible regulatory framework dedicated to fintech and regulatory technology (regtech) covering topics ranging from digital wallets to data protection. The proposed framework, “is intended not only to be fit for purpose for the current financial system but also be able to accommodate future developments and technological advances, such as proposals for global stablecoin eco-systems that have been the subject…
CME Bitcoin Options Volume Doubles One Week After Launch, Hits $5.3M
Bitcoin (BTC) options from CME Group more than doubled their traded volume in the first week after going live, data shows. According to figures supplied by the company, Bitcoin options volumes skyrocketed in the seven days since they went live on Jan. 13. BTC futures options surge higher As of Jan. 17, volume was 122 contracts, worth 610 BTC ($5.27 million). By comparison, on day one, volume was 55 contracts, or 275 BTC (currently worth $2.37 million). Open interest on options stood at 219 contracts on Friday, equivalent to 1,095…
Do Custodians Wield Undue Influence on Crypto Market Prices?
Noelle Acheson is CoinDesk’s Director of Research and producer of CoinDesk’s Institutional Crypto newsletter. These opinions are her own. Let’s talk about containers – not the massive cargo ships that cross oceans, but vessels such as bottles, boxes and bins. Things that hold stuff. A reliable container does just that, it holds. It doesn’t transform its contents. In finance, the vessel is the custody service that stores a fund’s assets. A good custody service reliably “holds” securities and bonds in its client’s name, often providing additional services but never influencing…
Monerium to Issue E-Money on the Algorand Blockchain In New Partnership
Licensed e-money issuer Monerium will support the blockchain protocol Algorand in 2020. News of the two firms’ non-exclusive partnership was announced in a press release on Jan. 21. The cooperation will see Monerium issuing its programmable e-money on the proof-of-stake Alogrand protocol, created by the Massachusetts Institute of Technology (MIT) professor and Turing Prize award-winner Silvio Micali. Regulated e-money on the blockchain Founded in 2016, ConsenSys–backed Monerium focuses on bridging fiat money and blockchains by issuing programmable digital cash, denominated in U.S. dollars, euros, British pounds and Icelandic krona. In…
Ethereum DApps Saw 1.2m New Users in 2019: It’s Tremendous For Long-Term Price Trend
Decentralized Applications (DApps) on the Ethereum network recorded over 1.2 million new users in 2019. Continuous growth of the ETH ecosystem is an essential fundamental factor for its long-term price trend. Report shows there is fast growth everywhere for Ethereum The main area of parabolic growth for Ethereum throughout the past year has been Decentralized Finance (DeFi). In the years ahead, industry experts forecast DeFi to be the biggest driver of Ethereum adoption. Alongside DeFi, the solid growth rate of DApps is a crucial fundamental factor for ETH in the…
Ethereum DApps Saw 1.2m New Users in 2019: It’s Tremendous For Long-Term Price Trend
Decentralized Applications (DApps) on the Ethereum network recorded over 1.2 million new users in 2019. Continuous growth of the ETH ecosystem is an essential fundamental factor for its long-term price trend. Report shows there is fast growth everywhere for Ethereum The main area of parabolic growth for Ethereum throughout the past year has been Decentralized Finance (DeFi). In the years ahead, industry experts forecast DeFi to be the biggest driver of Ethereum adoption. Alongside DeFi, the solid growth rate of DApps is a crucial fundamental factor for ETH in the…
Bitcoin Trading Volumes Boom amid Growing U.S.-Iran Tensions
As the world remains in crisis over the recent conflicts between the U.S. and Iran, looking at Bitcoin price, we can say that the major cryptocurrencies experiences one of the best weeks in recent years. Bitcoin Trading Volumes through the Roof in 2020 Bitcoin has been around for a while and has seen its ups and downs, leaving the public constantly questioning the direction this popular cryptocurrency will go next. We have seen incredible spikes in value as well as quick drops, which has left many investors choosing to stay…