Tag: Bank

US Central Bank Raises Rates by Half a Percentage Point, Fed’s Powell Says Similar Hikes Are on the Table – Economics Bitcoin News

boss

Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Original

Global private bank LGT to open Bitcoin and Ether trading

boss

LGT Group, a top family-owned private banking and asset management group, is moving into cryptocurrency by launching Bitcoin (BTC) and Ether (ETH) investments at LGT Bank in Liechtenstein. Managing over $292 billion of assets, LGT Bank is preparing to debut digital asset custody and trading services in cooperation with Swiss cryptocurrency bank Seba, according to a joint announcement released on Wednesday. LGT Bank will initially offer custody and trading services for BTC and ETH, while Seba supports more than 14 cryptocurrencies, including altcoins like Litecoin (LTC), Polkadot (DOT), Tezos (XTZ),…

Uganda Central Bank Tells Licensed Entities to Stop Facilitating Crypto Transactions – Emerging Markets Bitcoin News

boss

The Ugandan central bank has warned licensed entities and the public against facilitating crypto-related transactions as well as the practice of converting cryptocurrency into mobile money and vice versa. The central bank warned it will not hesitate to act against entities found to be in breach of the country’s laws. No Entity Issued License to Trade Cryptos The central bank in Uganda recently issued a statement reminding the public that no business is licensed to offer or facilitate cryptocurrency-related services. The statement warned licensed entities to end the practice of…

Banco Galicia Becomes First Bank to Introduce Crypto Trading in Argentina – Bitcoin News

boss

Banco Galicia, one of the largest financial institutions in Argentina, has introduced cryptocurrency trading as part of the services it is currently offering to customers. Users interested in investing in cryptocurrency are already able to purchase four different crypto assets directly from the home banking app of the financial institution, making it reportedly the first bank to offer this possibility to Argentinian customers. Banco Galicia Pioneers Crypto Trading for Banks in Argentina Banco Galicia, one of the biggest private banks in Argentina, has decided to complement its investment…

Bahrain Central Bank Issues New Regulations Governing Operations of Crowdfunding Platforms – Regulation Bitcoin News

boss

The Central Bank of Bahrain (CBB) has said new regulations compelling operators of crowdfunding platforms to ensure their products are suitable for clients are set to replace existing rules which were first issued in 2017. Segregation of Client Money From Platform Operators The Central Bank of Bahrain (CBB) has issued new guidelines which apply to operators of crowdfunding platforms for the first time since 2017, a statement from the central bank has said. The new regulations cover principles that govern the operations of a crowdfunding platform as well as the…

India Exploring Commercial Uses for Central Bank Digital Currency, Says Finance Minister – Regulation Bitcoin News

boss

The Indian government is exploring “several commercial use purposes and not just financial inclusion” for its central bank digital currency. India’s finance minister clarified that the aim is for the digital rupee, which will be backed by the Reserve Bank of India (RBI), to be issued by 2023. India’s Finance Minister on RBI-Backed Digital Currency Indian Finance Minister Nirmala Sitharaman talked about the country’s central bank digital currency (CBDC), the digital rupee, this week at a business roundtable on “Investing in India’s Digital Revolution” in San Francisco. The event was…

World Bank Predicts 3% Gold Price Growth, Expert Says a $3K per Ounce ‘Is More Likely Than Not’ – Interview Bitcoin News

boss

The World Bank has said it expects the price of gold to rise by 3% in 2022 but warned the price might fall sharply if the Russian central bank decides to offload large quantities of the commodity. The Russian Factor After the price of gold surged past the $2,000 mark in early March, a new World Bank report now predicts the commodity’s value will only grow by just 3% in 2022. The bank, however, said it expects prices of commodities like food — which have risen by 84% — and…

Global Investment Bank Goldman Sachs Offers Its First Bitcoin-Backed Loan – Finance Bitcoin News

boss

Global investment bank Goldman Sachs has reportedly offered its first-ever loan backed by cryptocurrency. The cash loan was collateralized by bitcoin owned by the borrower. A spokesperson for Goldman Sachs explained that the deal is interesting to the investment bank due to its structure and 24-hour risk management. Goldman Sachs and Bitcoin-Backed Loans Global investment bank Goldman Sachs has offered its first-ever cash loan backed by bitcoin (BTC), Bloomberg reported Thursday. A spokeswoman for the bank explained to the publication that the secured lending facility lent cash collateralized by bitcoin…