Bank Archives

Nigerian Lenders Frustrating CBDC’s Adoption — Central Bank Governor – Emerging Markets Bitcoin News

July 21, 2022 boss

Apathetic Nigerian lenders are frustrating the e-naira’s adoption because they are worried this could deprive them of a key revenue source, Godwin Emefiele, the Central Bank of Nigeria (CBN) governor, has said. Emefiele said the central bank is working on a channel that would enable Nigerians without bank accounts to open e-naira wallets. E-Naira Undercuts Lenders’ Investment in Mobile Banking Infrastructure The Nigerian central bank governor, Godwin Emefiele, has reportedly slammed some lenders he accuses of thwarting the adoption of the e-naira digital currency in the country. According to Emefiele,…

Bank of America Survey’s Extreme Pessimism Might Be Contrarian Indicator

July 20, 2022

Further, the central bank may want to see a marked decline in the headline consumer price index (CPI), which includes the volatile food and energy component, before pulling the plug on policy tightening. The spending habits of the so-called main street, representing average Americans, are more sensitive to the changes in the headline CPI. Source

'Singapore-based' Crypto Firms Leading Market Meltdown Were Not Regulated, Central Bank Chief Says

July 19, 2022

Troubled “Singapore-based” crypto firms like Three Arrows Capital have little to do with local crypto regulations, said Ravi Menon, managing director of the Monetary Authority of Singapore. Source

Nigerian Central Bank Governor Says Fintechs and Cryptos Change the Way Financial Systems Function – Emerging Markets Bitcoin News

July 19, 2022 boss

The Nigerian central bank governor and bitcoin critic, Godwin Emefiele, recently remarked that the rise of fintechs and cryptocurrencies among other technologies have forced banks and financial institutions to change the way they operate. According to Emefiele, this requires the central bank’s monetary policy committee (MPC) to rethink the way it regulates the financial system. Rethinking Financial System Regulation The governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, reportedly said the MPC, which was set to meet on July 18 and 19, must chart a new path that…

Dutch Central Bank Fines Crypto Exchange Binance $3.4 Million Citing ‘Very Serious’ Violations – Regulation Bitcoin News

July 19, 2022 boss

The Dutch central bank has fined cryptocurrency exchange Binance 3.325 million euros for offering crypto services in the Netherlands without the legally required registration. Binance has appealed against the fine and has now submitted an application to register with the central bank. Binance Fined by Dutch Regulator The Dutch central bank, De Nederlandsche Bank (DNB), revealed Monday that it has fined Binance Holdings Ltd. for offering crypto services without registration as required by law. The administrative fine of 3.325 million euros ($3.4 million) was imposed on the cryptocurrency exchange on…

Bank of Spain Worried About Inflation and Its Consequences in Latam – Economics Bitcoin News

July 18, 2022 boss

The Bank of Spain has issued a new report about the performance of Latam economies during the first six months of the year. The document states that the current inflationary development that several countries of the region have can lead to institutional instability, even as the region is still recovering from the Covid-19 pandemic. Bank of Spain Report Founds Latam Is Still Vulnerable The Bank of Spain has recently issued a report where it examines the economic situation that Latam as a whole is going through after the…

Crypto Exchange Binance Faces Fine From Dutch Central Bank for Allegedly Operating in Country Without Permission

July 18, 2022 boss

The world’s largest crypto exchange by trading volume is receiving a registration fine from De Nederlandsche Bank (DNB), the Dutch central bank. According to an announcement, the fine will be punishable by the third category – the DNB’s strictest enforcement level. “The violations committed by Binance are punishable with a fine from the third category. This means that the administrative fine has a basic amount of EUR 2,000,000, a minimum amount of EUR 0 and a maximum amount of EUR 4,000,000.” The Dutch central bank is fining Binance 3.3 million…

Crypto exchange Binance fined by Dutch central bank

July 18, 2022 boss

The logo of cryptocurrency exchange Binance displayed on a smartphone with stock market percentages in the background. Omar Marques | SOPA Images | LightRocket via Getty Images Binance, the world’s largest cryptocurrency exchange, on Monday was slapped with a 3.3 million euro ($3.4 million) fine from the Dutch central bank for operating in the Netherlands without registration. The penalty came after an August 2021 warning from De Nederlandsche Bank (DNB) last year that Binance had offered crypto services in the country without authorization. The company was dealt a category 3…

Australian Central Bank Chief Believes Regulated Private Tokens Could be Better Than CBDCs: Report

July 18, 2022

Digital currencies focused on consumers and regulated could be better when privately issued rather than by central banks, according to Australian central bank governor. Source

Binance Fined $3.4M by Dutch Central Bank

July 18, 2022

The Dutch Central Bank has issued Binance with an administrative fine of 3.3 million euros for continuing to serve Dutch citizens without registration. Source