Tag: Bank

JPMorgan Chase Paying $100,000,000 To Customers As Bank Settles Wave of Allegations From U.S. Securities and Exchange Commission

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JPMorgan Chase is handing $100 million to customers after settling a wave of allegations from the U.S. Securities and Exchange Commission. The bank is settling five separate cases with the agency and will pay an additional $51 million to regulators, for a total of $151 million. The alleged violations include misleading disclosures, breaches of fiduciary duty and prohibited trades. Customers who invested in the bank’s “Conduit” products will receive $90 million from the bank directly, and the bank will pay an additional $10 million to a civil fund that will also…

Brazilian Central Bank Considers Taxing Stablecoin Remittances

The stablecoin boom in Brazil has caught the attention of the central bank, which is currently exploring several ways to tax stablecoin remittances, including issuing a special license for crypto exchanges that provide these services. Central Bank of Brazil Explores Tax on Stablecoin-Based International Transactions, but There’s a Catch The Central Bank of Brazil is […] Source CryptoX Portal

Crypto Exchange OKX Announces ‘Milestone’ Partnership With Investment Bank Standard Chartered

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The fourth-largest crypto exchange by trading volume is announcing a new partnership with a prominent international banking giant. In a new announcement, OKX says it is collaborating with Standard Chartered with the aim of enhancing custodial solutions for institutional clients. “Today we were pleased to announce that we’ve officially partnered with Standard Chartered, a leading international cross-border bank, as our third-party crypto custodian for institutional clients. This milestone reflects our commitment to security, innovation, and the future of digital assets.” According to the press release, Standard Chartered will act as…

2,430% Surge: Why Central Bank Digital Currencies Are Set to Explode

The explosive growth of central bank digital currencies, expected to surge 2,430% by 2031, could revolutionize global payments, slashing cross-border transaction costs by billions. The Global Payment Shake-Up: CBDCs Poised to Transform Transactions Juniper Research, a market research and consulting firm specializing in digital technologies and innovation, released a report on Monday, forecasting a massive […] Source CryptoX Portal

FV Bank and Visa launch new cards to merge crypto and USD

FV Bank and Visa have partnered to introduce new debit and corporate expense cards, which were announced at Money 20/20 in Las Vegas. FV Bank’s new Visa cards let customers spend fiat and digital assets globally, marking a first in integrated banking and crypto solutions for individuals and businesses. According to the bank, these cards will allow FV Bank customers, both in the U.S. and internationally, to access and spend funds from their traditional USD and digital asset balances, offering global payment options at millions of locations. Fiat or crypto …