Tag: Bank

Investment Bank Cowen Launches Digital Unit, Aims to Compete With Bulge-Bracket Firms

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase…

Ireland’s central bank follows UK’s example in warning of crypto advertisements

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The Central Bank of Ireland issued a warning to consumers about the risks around crypto investments in addition to “misleading” advertisements, including those pushed by influencers on social media. In a Tuesday notice, Ireland’s central bank said the warning was part of a campaign organized by the European Supervisory Authorities, made up of the European Securities and Markets Authority, the European Banking Authority, and the European Insurance and Occupational Pensions Authority. The Central Bank of Ireland said that cryptocurrencies were “highly risky and speculative” for retail investors and warned people…

Ireland’s Central Bank Warns of ‘Misleading’ Crypto Ads by Social Media Influencers

CryptoX – Cryptocurrency Analysis and News Portal The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period.…

Ireland’s Central Bank Warns of ‘Misleading’ Crypto Ads by Social Media Influencers

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase…

Federal Reserve Bank President Pushes for Faster Rate Hikes — Says the Fed Risks Losing Credibility on Inflation Target – Economics Bitcoin News

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The president of the Federal Reserve Bank of St. Louis, James Bullard, has called for more aggressive measures to combat inflation and reduce the size of the Fed’s balance sheet. “The burden of excessive inflation is particularly heavy for people with modest incomes and wealth and for those with limited ability to adjust to a rising cost of living,” he stressed. Fed’s Bullard Pushes for More Aggressive Rate Hikes to Better Manage Economic Situation St. Louis Federal Reserve Bank President James Bullard issued a statement Friday regarding his dissenting vote…

Ukraine’s Largest Bank Suspends Money Transfers to Crypto Exchanges – Exchanges Bitcoin News

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Privatbank, the largest commercial bank in Ukraine, has temporarily halted transfers in national currency to digital asset exchanges. The financial institution explained the move with restrictions imposed by the country’s central bank under the current martial law. Leading Bank in Ukraine Bans Clients From Sending Hryvnia to Crypto Trading Platforms Ukraine’s largest bank in terms of assets, Privatbank, has prohibited its clients from transferring funds in Ukrainian hryvnia, the national fiat currency, to exchanges trading cryptocurrencies. The temporary ban has been introduced on March 16. According to a statement, quoted…

Bank of Russia Allows Sberbank to Issue Digital Financial Assets – Finance Bitcoin News

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Sberbank, Russia’s largest bank, has been authorized by the country’s monetary policy regulator to issue digital financial assets. The move comes amid tightening Western sanctions over the war in Ukraine, including limiting Moscow’s access to the global financial market. Sberbank Added to Central Bank’s Register of Crypto Asset Issuers The Central Bank of Russia (CBR) has added Sberbank, the country’s leading banking institution, to its register of information system operators permitted to issue digital financial assets (DFAs). The term is used to describe various types of cryptocurrencies in the country’s…

Central Bank of Russia tightens P2P transactions monitoring, including those in crypto

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The Central Bank of Russia (CBR) recommended that the nation’s commercial banks ramp up monitoring users’ transactions that could be aimed at circumventing CBR’s “special economic measures to counter the outflow of foreign currency abroad,” local media reported on Thursday. The recommendation includes closer oversight over crypto trading, which is named among the vehicles for withdrawing capital from Russia.  The letter, sent to the banking organizations by CBR’s vice chairman Yuri Isaev on Wednesday, directs them to pay closer attention to the instances of their clients’ “unusual behavior.” This includes “abnormal”…

Qatar exploring digital banks and central bank digital currencies

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The Qatar Central Bank (QCB) is reportedly investigating the possibility of launching a digital currency and issuing digital bank licenses.  According to the head of the fintech section at QCB, Alanood Abdullah Al Muftah, the central bank is expected to set a direction for its future focus soon on a range of fintech verticals.  Al Muftah noted that QCB will also determine whether Qatar can establish a central bank digital currency (CBDC). She explained: “Each central bank should study digital banks, considering their growing significance in the global market. We…

Ukraine’s largest savings bank halts Bitcoin buys with hryvnia: Report

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While the Ukrainian government has moved to legalize Bitcoin (BTC) amid the ongoing attacks from the Russian military, some of the largest local banks have reportedly banned their clients from buying BTC using the national currency. PrivatBank, the largest commercial bank in Ukraine, has temporarily restricted its customers from purchasing Bitcoin with the national currency, the hryvnia (UAH), industry publication Forklog reported on Thursday. Citing a spokesperson from PrivatBank, the report notes that the latest PrivatBank’s restrictions fall in line with an order from the National Bank of Ukraine. The…