Developers of the DeFi protocols said that layer 2 networks offer improved security and capital efficiency for users. Source
DeFi Firms Iron Bank, Yearn Finance Join Layer 2 Protocol Optimism
Tag: Bank
President of Central Bank of Brazil Disagrees With ‘Heavy Hand’ Regulations for Cryptocurrencies – Regulation Bitcoin News
The president of the Central Bank of Brazil, Roberto Campos Neto, has defended the use of more moderate regulations in the crypto environment. Campos Neto stated that while regulation is indeed necessary, it has to be done in a way that doesn’t stop innovation. He also explained his goal is to connect the digital with the regulated world. Central Bank of Brazil President Criticizes Harsh Approach to Crypto Regulation Central banks of several nations around the world are starting to establish their stances when it comes to cryptocurrencies…
Crypto needs ‘enabling environment,’ Philippines central bank says
Amid the rising cryptocurrency adoption in the Philippines, the country’s central bank is seeking measures to better protect investors through elevating local crypto awareness. The Philippine central bank, Bangko Sentral ng Pilipinas (BSP), wants to promote crypto education as the authority sees a lot of benefits associated with crypto and blockchain, a BSP representative said in an interview with Cointelegraph. “The BSP’s focus is on virtual assets’ capacity to improve the delivery of financial services, particularly payments and remittances services, as it has potential to provide faster and economical transfer…
Reserve Bank of Zimbabwe ‘Developed a Roadmap for Adoption of CBDC,’ Says Governor – Fintech Bitcoin News
The governor of the Zimbabwean central bank, John Mangudya, recently said his organization “has developed a roadmap for adoption of CBDC [central bank digital currency] in Zimbabwe.” Mangudya also revealed that two fintech startups had been admitted into the central bank’s fintech regulatory sandbox. Stakeholders’ Views Wanted Nearly six months after announcing the Reserve Bank of Zimbabwe (RBZ)’s intention to explore the feasibility of launching a central bank digital currency (CBDC), the bank’s governor John Mangudya recently revealed that the central bank now has a roadmap for the envisaged digital…
Applied Blockchain Refinances $15M Credit Facility from a North Dakota-based Bank
U.S. bitcoin mining company Applied Blockchain, Inc has announced that it has entered into a credit agreement with a North Dakota-based bank for a $15 million loan that will expand its crypto mining operations to take advantage of opportunities emerging in the current bear market. Applied Blockchain disclosed that the funds obtained will be used to repay its existing debt and provide additional liquidity to fund the construction of its data center. Wes Cummins, Chairman, and CEO of Applied Blockchain spoke about the latest developments: “The new credit facility…
Bank of Russia Aims for Full Launch of Digital Ruble in 2024 – Finance Bitcoin News
The Central Bank of Russia plans to begin the comprehensive implementation of the digital ruble two years from now, according to a paper detailing its monetary policy priorities for the 2023 – 2025 period. As the development of the state-issued digital currency continues, the monetary authority intends to gradually connect various financial institutions to the platform. Russia’s Central Bank to Introduce Digital Ruble Currency in 2 Years The Central Bank of the Russian Federation (CBR) has recently published a draft document that sets out the main directions for its monetary…
Peter Schiff to Liquidate Euro Pacific Bank in Settlement With Puerto Rican Regulator – Featured Bitcoin News
Gold bug Peter Schiff has settled with Puerto Rico’s financial regulator and agreed to liquidate his Euro Pacific Bank. Schiff stressed that he is not admitting to any legal wrongdoing. Peter Schiff Liquidating Euro Pacific Bank Gold bug and notorious bitcoin skeptic Peter Schiff has settled with the Office of the Commissioner of Financial Institutions of Puerto Rico, also known as Oficina del Comisionado de Instituciones Financieras (OCIF), and agreed to liquidate his Euro Pacific Bank. He tweeted Wednesday: I have agreed to a settlement with Puerto Rican banking regulators…
Crypto Trading, Investing Illegal in Iran, Central Bank Governor Reiterates – Regulation Bitcoin News
It is illegal to buy or sell cryptocurrency in Iran, the head of the country’s monetary authority has recently reminded citizens and businesses. The governor noted, however, that mining cryptocurrencies and using them in payments for imports is not against the law in the Islamic Republic. Top Banker Confirms Crypto Trading Still Illegal in Iran The purchase and sale of cryptocurrencies or using the digital assets for investment purposes is prohibited, the governor of the Central Bank of Iran (CBI), Ali Salehabadi, has recently told local media. At the same…
India Freezes Peter Thiel-Backed Vauld’s Crypto and Bank Assets Worth $46 Million – Regulation Bitcoin News
India’s Enforcement Directorate (ED) has frozen crypto exchange Vauld’s crypto and bank assets worth about INR 370 crore ($46,439,181). Vauld halted deposits and withdrawals last month. The Indian law enforcement agency is reportedly investigating more than 10 cryptocurrency exchanges. Indian Authority Freezes Another Cryptocurrency Exchange’s Assets The Enforcement Directorate (ED), a law enforcement and economic intelligence agency of the government of India, has frozen the assets of another cryptocurrency exchange. The agency announced Friday that it has conducted searches at various premises of Yellow Tune Technologies in Bangalore and has…
Philippines Central Bank to Halt Applications for New Virtual Asset Firms for Three Years
The Philippines’ central bank is closing its application window for new virtual asset services providers (VASP) licences for three years from Sept. 1. Source