“Saxo Bank A/S’ trading in crypto assets for its own account has taken place in order to cover risks in connection with the offering of other financial products,” the statement said. “However, this does not change the fact that the activity, in itself, is not permitted for Danish financial institutions …” Source
Cryptocurrency-friendly bank DBS is cooperating with mainland China on the development of a new payment solution for the digital yuan, also known as e-CNY. DBS Bank China officially announced on July 5 the launch of the e-CNY merchant solution, allowing mainland businesses to receive payments in the central bank digital currency (CBDC). The new service will allow corporate clients of DBS Bank China to collect payments from their customers in e-CNY and conduct automated settlement of e-CNY directly into their CNY bank deposit account. DBS’ solution is designed to enable…
The newly launched merchant collection solution allows businesses automated settlement of e-CNY into their CNY bank deposit accounts. Source
Thailand’s Securities and Exchange Commission (SEC) introduced new regulations aimed at digital assets. The guidelines mandate that digital asset service providers must provide comprehensive risk warnings to ensure awareness of the potential risks involved in cryptocurrency trading. Enhance investor protection On July 3, the Securities and Exchange Commission (SEC) of Thailand unveiled new rules regarding digital asset trading and services, with the details published in the Royal Gazette. The key highlights include a mandatory risk disclosure for cryptocurrency trading and a ban on deposit-taking and lending services. Starting from July 31, 2023,…
“Issues raised by crypto-assets and other innovations do not fall neatly within agency boundaries,” said Ian Woolford, Director of Money and Cash, RBNZ. “However, issues such as consumer and investor protection or potential commercial or regulatory barriers to entry do matter ….” Source BankCBDCsCentralCryptoExploringRegulationZealands CryptoX Portal
The New Zealand central bank is ramping up its monitoring of stablecoins and crypto-assets following public submissions, but has stopped short of calling for a “regulatory approach.” In a June 30 statement, Ian Woolford, the Reserve Bank of New Zealand’s (RBNZ) director of money and cash said that the RBNZ agrees that “a regulatory approach isn’t needed right now, but increased vigilance is.” Accompanying Woolford’s statement was a summary of 50 stakeholder submissions to an earlier RBNZ paper discussing crypto and decentralized finance. New forms of money such as crypto…
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After sustaining more than 1 billion euros in losses, Orange has decided to exit retail banking and has begun negotiations with BNP Paribas. French telecommunications giant Orange is looking to get out of the banking sector by selling Orange Bank to BNP Paribas. Orange has now begun exclusive negotiations with BNP Paribas, which would end Orange’s banking business if successful. Orange Bank has faced a little too much difficulty since the telecoms giant ventured into retail banking. The Orange Group began banking after buying a majority stake in Groupama Banque…
Italy’s top banking authority has called for a “robust, risk-based” regulatory framework for stablecoins, which could help prevent a worst case scenario — a “run” on stablecoins. The central bank’s recently released Markets, Infrastructures and Payment Systems report for June 2023 has called on regulators to apply the same financial conduct standards to stablecoin issuers in the industry. #Bankitalia #26June Alessandra #Perrazzelli discussed about the evolving regulatory landscape for #DigitalAssets at @pointzeroforum Panel “State of Global Digital Asset Regulation: Navigating Opportunities in an Evolving Landscape”#PZF2023 #PointZeroForum @sif_sfi @elevandi pic.twitter.com/Jm0OBeifZh —…
“What powers the global economy today is regulated money in the banks,” Dhamodharan said in an interview with CoinDesk. “So we’re starting with making tokenized bank deposits, so the unit of money in a bank account is a digital asset on the blockchain, bringing the same level of programmability to those as you find with digital currency in the crypto ecosystem.” Source