Tag: Bank

Security Breach at Coinbase-Linked Bank Exposes the Personal Info of More Than 150 of the Exchange’s Customers

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A security breach at a Coinbase-linked bank earlier this month exposed the sensitive personal information of more than 150 of the exchange’s customers. The incident happened on July 11th and impacted a third-party bank that Coinbase uses to process payments, according to a data breach notification published on the Maine Attorney General’s website. In a sample letter to customers that Coinbase provided in the Maine notification, the exchange explains that the bank mistakenly uploaded a file containing transaction data and personal information to an external location where it could have…

Philippine Central Bank Warns of AI-Driven Crypto Scams — Governor Denies Endorsing Cryptocurrency Projects

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The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has cautioned the public against scams involving AI-manipulated videos and audios, which are used to spread false information, particularly about cryptocurrency investments. The BSP emphasizes that Governor Eli M. Remolona Jr. does not endorse the purported cryptocurrency project “Tesler Code” or any other […] Source

BitMEX pleads guilty to violating the U.S. Bank Secrecy Act

Cryptocurrency exchange BitMEX has pleaded guilty to violating the Bank Secrecy Act. According to Attorney Damian Williams, BitMEX intentionally failed to “establish, implement, and maintain an adequate anti-money laundering (AML) program.” He explained that BitMEX, founded in 2014, had a long history of serving and attracting American traders. Operating through local offices, it was required to register with the Commodity Futures Trading Commission (CFTC) and comply with the AML policy. “BitMEX opened itself up as a vehicle for large-scale money laundering and sanctions evasion schemes, posing a serious threat to…

Crypto Exchange BitMEX Pleads Guilty to Violating the Bank Secrecy Act From 2015 to 2020

“As BitMEX’s founders and long-time employee admitted in federal court in 2022, the company, one of the leading cryptocurrency derivatives platforms in the world from 2015 to 2020, operated in the United States without any meaningful anti-money laundering program, as required by federal law,” said U.S. Attorney Damian Williams in a DOJ press release. “As a result, BitMEX opened itself up as a vehicle for large-scale money laundering and sanctions evasion schemes, posing a serious threat to the integrity of the financial system. Today’s guilty plea indicates again the need…

Bank of Israel CBDC Decision Won’t Occur Before the ECB’s Call on Digital Euro: Reuters

Abir said whether the public will adopt a digital shekel is uncertain, and the bank is conducting a behavioral study on the subject. He said that one has to have “a good set of use cases.” But in a nation where two large banks dominate more than 60% of the market, the main incentive is to create a “level playing field for payment providers and allow them to compete with the banks” Source

UAE’s Zand Bank to Offer Crypto Services

Zand Bank, the UAE’s first digital bank, has entered into a strategic partnership with Taurus SA, a global leader in digital asset technology for banks. This partnership will cover all aspects of Zand’s digital asset infrastructure, including custody, tokenization, and blockchain connectivity. Zand will leverage Taurus’ integrated custody and tokenization solutions to expand its digital […] Source CryptoX Portal

British Mega Bank Standard Chartered Says Bitcoin Will Hit $100,000, Here’s When

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British mega bank Standard Chartered has made a bullish prediction for Bitcoin (BTC), the world’s largest cryptocurrency. The multinational bank has projected that Bitcoin will surge as high as $100,000 from its current price of above $60,000. Bitcoin To Reach $100,000 By US Election Day In a Tuesday note, Standard Chartered’s head of forex and digital assets research, Geoffery Kendrick predicted that Bitcoin could see its price rallying to $100,000 by the United States (US) election day in November. He also disclosed that the pioneer cryptocurrency is poised for “a…

Latam Insights: Argentina Reaches Zero Inflation, Central Bank of Bolivia Unbans Bitcoin

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Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Argentina reached zero inflation in food and beverages in June, the Central Bank of Bolivia unbans bitcoin, and several employees of the Paraguayan power company were allegedly involved in illegal bitcoin mining operations. […] Original