Tag: Bank

BNY Mellon SAB 121 exemption may herald bank Bitcoin custody

boss

Bank of New York Mellon, the largest U.S. custodian bank, scored an exemption from a controversial SEC rule that may enable Bitcoin custody. Institutional custody of Bitcoin (BTC) and cryptocurrencies in the U.S. took a step forward as BNY Mellon was reportedly granted permission to operate outside the Staff Accounting Bulletin No. 121, also known simply as SAB 121. The Securities and Exchange Commission’s SAB 121 advised entities holding customer crypto to report such holdings as corporate liabilities. SAB 121 also required financial service providers to disclose the type of…

Germany’s DZ Bank to Offer Cooperative Bank Customers Cryptocurrency Trading Services

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…

DBS Bank to Launch OTC Crypto Options Trading for Institutional Clients in Q4 2024

DBS Bank, Singapore’s largest bank, has announced plans to launch over-the-counter (OTC) crypto options trading and structured notes for institutional clients in Q4 2024. This new offering will allow institutional investors to gain exposure to bitcoin and ethereum, the two largest cryptocurrencies by market capitalization. The initiative aims to provide sophisticated tools for managing digital […] Source CryptoX Portal

Cash Is Still King, Consumers Would Prefer to Use It Over Central Bank Digital Currencies (CBDCs): Deutsche Bank

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…

Reserve Bank of Australia Is Set to Prioritize Wholesale CBDC Over Retail CBDC

“The RBA is making a strategic commitment to prioritise its work agenda on wholesale digital money and infrastructure – including wholesale CBDC,” Brad Jones, assistant governor for the financial system, said in a statement on Wednesday. “At the present time, we assess the potential benefits as more promising, and the challenges less problematic, for wholesale CBDC compared to a retail CBDC.” Source

More than 40 Firms Join Central Bank Group BIS to Explore Tokenization for Wholesale Cross Border Payments: Project Agorá

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…

Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

The Bank of Russia aims to open the payment infrastructure for the Russian central bank digital currency (CBDC), the digital ruble, by July next year. Larger banks will offer digital ruble accounts and services by this deadline, with smaller institutions following later. The initiative seeks to enhance payment efficiency and reduce costs, with retailers also […] Source CryptoX Portal

Crypto Bank Anchorage Digital Takes on Custody for ARK 21Shares Bitcoin ETF (ARKB)

“Anchorage Digital Bank N.A. is pleased to further broaden access to crypto as a custodian selected for 21Shares’ U.S. spot ETF lineup,” said Nathan McCauley, the bank’s co-founder and CEO, in a statement. “Our federal charter — which supersedes state-by-state regulation and positions us as a qualified custodian — makes us a natural choice for ETF custody diversification.” Source

Bank of Russia Sees Retail CBDC in Widespread Use by July 2025

The banks will need to enable their customers to “open and top up digital ruble accounts, make transfers, and accept digital rubles in their infrastructure,” the central bank said Thursday. After that, “it is planned to launch the widespread use of the digital national currency. It is important that it is available to citizens and businesses and, if desired, they can freely use it on an equal basis with cash and non-cash funds.” Source

Consumers Are More Positive About Crypto in 2024 With Under 1% Saying It’s a ‘Fad:’ Deutsche Bank Survey

A third of consumers said they thought the BTC price would be below $60,000 by year-end, and only 12%-14% thought it would cross $70,000. Bitcoin was trading around $58,200 at publication time. For the longer term, perceptions were mixed: 40% of respondents said they thought BTC would thrive in the coming years, while 38% said they expected it to disappear. Source