Stark Bank, a startup backed by Amazon founder Jeff Bezos, has positioned itself as the go-to firm for serving cryptocurrency businesses in Brazil, filling the gap left by traditional institutions. The firm has built part of its business around this service offering, betting on the industry’s future as Brazilians become more comfortable with crypto. Bezos-Backed […] Source CryptoX Portal
The Bank of Russia introduced a proposal to allow highly qualified investors to purchase and sell crypto under an experimental framework lasting three years. Nonetheless, peer-to-peer transactions and payments would still be banned under this sandbox. Central Bank of Russia Opens up to Crypto With Sandbox Regime Russia is on the verge of opening to […] Source
The Bank of Russia has submitted proposals to the government for a controlled experiment allowing a “limited group of Russian investors” to trade cryptocurrencies, based on a directive from the country’s President Vladimir Putin. The plan would introduce an experimental legal regime (ELR) lasting three years wherein “particularly qualified” investors would be allowed to conduct cryptocurrency transactions, according to a statement from the central bank. To be considered “particularly qualified,” individual investors would need to have over 100 million rubles ($1.14 million) in investments or an annual income exceeding 50…
Turkish digital bank BankPozitif is set to launch cryptocurrency custody services in collaboration with Swiss crypto platform Taurus, making it the latest financial institution in Turkey to embrace digital assets. On March 4, BankPozitif announced a strategic partnership with Taurus, enabling its institutional clients to store crypto assets with the bank. The service is expected to be rolled out by June and will initially feature support for the top five crypto assets by market cap, including Bitcoin (BTC), Ether (BTC), Tether USDt (USDT), XRP (XRP) and Solana (SOL), a spokesperson…
President of Swiss National Bank (SNB), Martin Schlegel has dismissed a proposal for the central bank to hold bitcoin in its reserves, citing volatility, liquidity concerns, and security risks. Swiss National Bank Pushes Back Against Bitcoin Reserve Proposal Swiss National Bank (SNB) President Martin Schlegel has rejected the idea of holding bitcoin as part of […] Original
Swiss National Bank (SNB) President Martin Schlegel reportedly doesn’t want to make Bitcoin a reserve asset in Switzerland — citing a lack of stability, liquidity concerns and security risks. Schlegel’s position opposes a proposal from Swiss Bitcoin nonprofit think tank 2B4CH and other Bitcoin advocates to constitutionally mandate SNB to hold Bitcoin (BTC) on its balance sheet. Schlegel first told Swiss local media outlet Tamedia that Bitcoin and other cryptocurrencies are too volatile, which isn’t conducive to maintaining the value of SNB’s investments. “Second, our reserves need to be highly…
Swiss National Bank (SNB) President Martin Schlegel reportedly doesn’t want to make Bitcoin a reserve asset in Switzerland — citing a lack of stability, liquidity concerns and security risks. Schlegel’s position opposes a proposal from Swiss Bitcoin nonprofit think tank 2B4CH and other Bitcoin advocates to constitutionally mandate SNB to hold Bitcoin (BTC) on its balance sheet. Schlegel first told Swiss local media outlet Tamedia that Bitcoin and other cryptocurrencies are too volatile, which isn’t conducive to maintaining the value of SNB’s investments. “Second, our reserves need to be highly…
Recent efforts to “debank” crypto firms in the US revealed a “staggering” level of corruption among government officials, and the problem is not yet resolved, one banking executive said in a Feb. 27 interview during Bitcoin Investor Week. “The magnitude of skullduggery that is happening in Washington D.C. is really incredible… and it’s not over yet,” Caitlin Long, Custodia Bank’s founder and CEO, said during a panel at the event. In 2023, the US Federal Reserve, which regulates banks, stymied Custodia’s efforts to service crypto firms by denying the…
The Czech National Bank is exploring bitcoin’s potential as a reserve asset, with its governor emphasizing the need to adapt to evolving financial markets despite crypto risks. Czech Central Bank Signals Bitcoin Interest—A Step Toward BTC Reserves? Aleš Michl, governor of the Czech National Bank (CNB), renewed discussion on social media platform X last week […] Original
According to David Eastman, Yougov’s managing director for Latin America, this shows the advance of crypto in Brazil and should serve as a wake-up call for banks. Yougov Poll Shows Some Users Would Substitute Banks With Crypto A recent survey conducted by Yougov, an international online research data firm, has given insights into the advancement […] Source CryptoX Portal