Tag: Bank

Bitcoin tourists exit the market, Peter Schiff’s bank closes down and Voyager to restructure: Hodler’s Digest, July 3-9

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Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week     Peter Schiff’s bank closure strengthens Bitcoin case for financial freedom Avid Bitcoin hater and gold peddler Peter Schiff saw his bank in Puerto Rico, Euro Pacific International Bank, shut down this week, with regulators pulling the plug on the grounds that the bank…

Nigerian Fintech Giant Flutterwave Accused of Laundering Money, More Than 50 Bank Accounts Frozen – Bitcoin News

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A Kenyan agency charged with tracing and freezing proceeds of crime said it recently obtained an order giving it the authority to freeze bank accounts belonging to Nigerian fintech Flutterwave. The agency alleges that Flutterwave is not providing merchant services as per claims, but is instead involved in money laundering activities. Deliberate Attempt to Obscure Movement of Funds Kenya’s Asset Recovery Agency (ARA) recently received an order from the High Court to freeze bank accounts holding nearly $60 million which the agency believes to be laundered money, a report has…

Binance gets VASP registration for its Spanish subsidiary from the Bank of Spain

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Crypto exchange Binance is now registered as a virtual asset service provider (VASP) by the Bank of Spain, allowing the exchange to offer custody and crypto exchange services in the country.  In an announcement on Friday, Binance said that its Spanish subsidiary, Moon Tech Spain, was registered as a VASP by Spain’s central bank on Thursday. It applied for registration in January. Binance can now provide fiat currency exchange to digital assets and wallet custody services while complying with the country’s Anti-Money Laundering and Counter-Terrorist Financing rules. Binance CEO Changpeng…

Binance gets crucial license for its Spanish subsidiary from the Bank of Spain

Crypto exchange Binance has been registered as a virtual asset service provider (VASP) by the Bank of Spain. This allows the exchange to offer custody and crypto exchange services in the country legally.  Binance said in an announcement on Friday that its Spanish subsidiary, called Moon Tech Spain, was registered as a VASP by the national central bank in Spain on July 7. It applied for registration in January. The exchange is now allowed to provide fiat currency exchange to digital assets and wallet custody services while complying with the…

Nigerian Central Bank Incentive Scheme Failed to Halt Naira Depreciation – Bitcoin News

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The Central Bank of Nigeria (CBN)’s attempt to incentivize the country’s forex market through the so-called “Naira for Dollar” scheme has failed. This is evidenced by the local currency’s plunge of more than 25% since the launch of the incentive scheme in March 2021. Naira Depreciation The CBN’s scheme that encourages recipients of cross-border remittances to cash out via formal channels failed to incentivize the forex market and has therefore not achieved the bank’s goal of halting the naira’s depreciation, a report has said. According to one report in a…

Bank of America’s Active Crypto Users Drop More Than 50% in Bear Market – Featured Bitcoin News

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Bank of America has revealed that the number of its customers who are active crypto users has declined more than 50% from its peak in November last year. In addition, the bank said its data “shows that outflows to crypto platforms have fallen sharply,” indicating that “consumers are pulling back on their net investment into crypto platforms.” Bank of America’s Active Crypto Users Bank of America published a report last week showing a steep decline in the number of active cryptocurrency users from its peak in November last year. The…

MakerDAO voting on collaborating with a traditional bank

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MakerDAO is voting on a proposal that will bring a traditional bank into its ecosystem for the first time, allowing the bank to borrow against its assets using decentralized finance (DeFi). Currently 83% of voters are in favor of the proposal. Voting ends at 12pm ET on July 7. The proposal involves creating a vault with 100 million Dai (DAI) for Huntingdon Valley Bank (HVB) as part of a new collateral type in the Maker Protocol. This will essentially allow the Maker Protocol to begin issuing real-world loans to borrowers…

Peter Schiff’s Euro Pacific Bank Suspended by Puerto Rico’s Regulator — Schiff Insists No Evidence of Crime – Regulation Bitcoin News

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Peter Schiff-owned Euro Pacific Bank has been suspended by Puerto Rico’s financial regulator. Schiff claims that there’s “no evidence of crimes,” warning that “accounts are frozen and customers may lose money.” Puerto Rico’s Regulator Suspends Peter Schiff’s Bank Euro Pacific Bank, owned by notorious bitcoin skeptic and gold bug Peter Schiff, has been suspended by the Office of the Commissioner of Financial Institutions of Puerto Rico, also known as Oficina del Comisionado de Instituciones Financieras (OCIF). Insisting that there is no evidence of crime at the bank, Schiff tweeted Sunday:…