Tag: Bank

India’s Central Bank Governor Warns Crypto Market May Crash and Small Investors Will Lose Money – Markets and Prices Bitcoin News

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RBI Governor Shaktikanta Das has warned that the crypto market may crash and small investors will lose money. He added that the central bank believes that its warnings have deterred many people from investing in cryptocurrencies. RBI Governor’s Crypto Warnings The governor of the Indian central bank, the Reserve Bank of India (RBI), Shaktikanta Das, warned about investing in cryptocurrency in an interview with ET Now earlier this week. Noting that the RBI has cautioned investors on several occasions about the risks of investing in crypto, Das said: “I’m happy…

Philippine Lawmakers, Central Bank, SEC Discuss Crypto Regulation in Senate Hearing – Regulation Bitcoin News

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The central bank and the Securities and Exchange Commission (SEC) of the Philippines discussed crypto regulation in a Senate hearing with the participation of several executives from the crypto industry, including from crypto exchange Binance. Philippine Regulators Discuss Crypto Policies Philippine regulators recently discussed cryptocurrency regulation with some executives from the crypto industry in a Senate Committee on Banks, Financial Institutions, and Currencies hearing, chaired by Senator Mark Villar, the Inquirer reported Wednesday. Bangko Sentral ng Pilipinas (BSP), the Philippine Securities and Exchange Commission (SEC), and the Cagayan Economic Zone…

Venezuelan Bolivar Plunges as Central Bank Stops Intervening and Public Spending Rises – Economics Bitcoin News

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The exchange rate of the Venezuelan bolivar, the national fiat currency of the country, has plunged 35.51% against the U.S. dollar this week as a result of various factors, reaching 8.70 bolivars per U.S. dollar. According to economists, this will cause an increase in prices in the near future, with the exchange rate predicted to reach up to 12 bolivars per dollar by December. Venezuelan Bolivar Drops 35.51% Against USD in a Week Many Latam countries are being affected by the strength that the U.S. dollar has shown…

Afghan police close down cryptocurrency exchanges to enforce central bank ban: Report

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Police have closed down at least 16 cryptocurrency exchanges in the Herat province of western Afghanistan in the last week, according to a report in Ariana News, an independent news outlet in that country. The report quotes a local police official as saying arrests had been made during the closures.  The closures were carried out in response to a ban on crypto trading that had been in place for about three months, according to the report. It was apparently referring to a ban imposed on online foreign exchange trading by…

Siam Commercial Bank abandons plans to purchase $500M stake in crypto exchange Bitkub

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Thailand’s oldest bank has scrapped plans it first announced in November 2021 to become the majority shareholder of crypto exchange Bitkub. In a Thursday announcement, Siam Commercial Bank’s SCB X Group said it would no longer be paying 17,850 million Baht — roughly $536 million in November and $497 million at the time of publication — to acquire a 51% stake in the Thailand-based crypto exchange. The bank cited concerns with Bitkub “resolving various issues” according to recommendations from the country’s Securities and Exchange Commission without a definite timeline. According…

Siam Commercial Bank Scraps $500M Acquisition Deal of Crypto Exchange Bitkub

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Thailand’s oldest lender, Siam Commercial Bank (SCB) has abandoned the deal to acquire a controlling stake in Bitkub Online, the country’s largest cryptocurrency exchange Cryptocurrency Exchange A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may…

Investment Bank Cowen Nabs 2 Crypto Hires for Digital Asset Team

“Cowen Digital is actively hiring and expanding our team in a strategic build over the next five years,” Eric Rose, Cowen’s managing director and head of Cowen Digital execution said in a statement. “Despite recent volatility in the sector, we continue to see growth and investment opportunities for the long-term,” he added. Source

Largest Southeast Asian Bank DBS Sees Crypto Trading Volumes Soar as Investors Bought the Dip – Exchanges Bitcoin News

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DBS, the largest bank in Southeast Asia, says that it has benefited from the recent crypto market sell-off. The trading volume of its crypto exchange nearly doubled in July, compared to April. The quantity of bitcoin bought on its exchange grew nearly four times during that time period. DBS Crypto Customers Bought the Dip DBS, the largest bank in Southeast Asia by assets, announced Monday that DBS Digital Exchange (Ddex) has benefited as crypto investors sought safety amid market volatility. DBS, headquartered and listed in Singapore, has a presence in…

Bank of Finland governor says digital euro could facilitate pan-European services to consumers

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In a novel address at the University of California Berkley published on Wednesday, Olli Rehn, governor of the Bank of Finland, touted the possibility of a digital euro centralized bank digital currency (CBDC) functioning in tandem with private fintech solutions to facilitate the cross-border payment of services across Europe. The European Central Bank’s (ECB) investigation into the plausibility of the digital euro began in late 2021 and is scheduled to conclude in October 2023. Rehn outlined the utility of the experimental digital euro, stating:  “A digital euro would give people…