This is the launch of the standard that could connect all of the blockchains and all of the bank chains, Sergey Nazarov said in an interview with CoinDesk. Source
Another “Big Four” bank in Australia has said it will put blocks on certain cryptocurrency platforms, citing high levels of scams risk in the industry. National Australia Bank (NAB) on July 17 officially announced a set of new measures to protect customers from fraud as part of its “bank-wide scam strategy.” Alongside halting “millions in payments” between March and July 2023, NAB will also introduce blocks on “some cryptocurrency platforms” in order to help protect customers from scams. NAB did not specify the names of cryptocurrency exchanges that are expected…
Stick em’ up! Bank robbery drills in the Metaverse The Bank of America is mixing a virtual reality metaverse and artificial intelligence to train new employees on everything from handling angry customers to bank robberies. Bloomberg reported July 13 that the bank’s 2,000 new hires undergo a week-long training regime that includes slipping on a VR headset to practice responding to a variety of simulated situations. The VR modules include mundane situations like helping an upset customer or quizzing one which asks for a large swath of cash, and extreme…
While 19.3% answered Armstrong’s query “no,” a whopping 9%, which would translate into roughly 1,200 people given there were 13,746 respondents to the question as of press time, said “yes.” The rest didn’t participate in the poll but were solely interested in seeing the results. Source
Mike Kondoudis, a licensed trademark attorney, has confirmed that the United States Patent and Trademark Office (USPTO) officially registered the TD Logo for crypto purposes. Among cited examples include payment gateway services and payment processing using cryptocurrency units, signalling the bank’s growing involvement in the industry. New registrations In a July 12 tweet, Kondouis shared the new United States cryptocurrency trademark registration for The Toronto-Dominion (TD) Bank, one of the top 10 North American banks, on July 4. The summary mentions the registration of IC 035 for statement production and…
Bank of China, one of the largest state-owned banks in China, is currently conducting trials for a novel offline payment system that connects to SIM cards. This payment method is designed specifically for the digital yuan, also known as the e-CNY, which is China’s central bank digital currency (CBDC) currently being tested. This announcement was made by the bank on Monday in a social media post, revealing their partnership with telecommunication operators China Telecom and China Unicom and their intention to commence testing on Tuesday. The bank plans to enable…
Despite the millions of retail and institutional investors getting involved in the growing sector, “crypto has so far failed to harness innovation to the benefit of society,” said the report, prepared for a meeting of G20 finance ministers and central bank governors due to take place in Gandhinagar, India this weekend. Source
In a move aimed at tightening regulations in the cryptocurrency sector, Danish financial regulators have taken action against cryptocurrency service providers, specifically targeting local banks from holding cryptocurrency assets as a means of mitigating trading risks. The Danish Financial Supervisory Authority (DFSA) issued an official directive on July 4, instructing Saxo Bank, a prominent investment bank in Denmark, to divest its existing holdings in cryptocurrencies. Strengthening regulations Denmark’s financial regulators have intensified their efforts to strengthen regulations in the cryptocurrency industry by cracking down on cryptocurrency service providers, with a specific focus…
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Financial regulators in Denmark are coming after cryptocurrency service providers, declaring that local banks are not allowed to hold cryptocurrency to hedge against trading risks. On July 4, the Danish Financial Supervisory Authority (DFSA) officially ordered the local investment bank Saxo bank to dispose of its own holdings in crypto. The regulator said that Saxo Bank’s crypto activity “lies outside of the legal business area of financial institutions,” citing section 24 of the Denmark’s Financial Business Act. According to the DFSA, Saxo Bank offers its customers the opportunity to trade…