Tag: Bank

EU raises alarm over potential bank threats posed by stablecoins

The European Systemic Risk Board has recommended increased disclosures and monitoring as measures to combat the risks associated with the cryptocurrency market. This alarm follows concerns have been raised about the potential impact of a sudden crisis in the crypto sector on the global economy. Findings span 77 pages The European Systemic Risk Board (ESRB), an oversight body operating under the European Central Bank, released a comprehensive report on May 25, delving into the realm of crypto assets and decentralized finance (DeFi). Spanning 77 pages, the report emphasizes the rapid…

Norges Bank urges nation to forge ahead with national crypto regulation

In a recently published report, Norway’s central bank, Norges Bank, has put forth a proposal, urging policymakers to carefully consider the creation of a comprehensive national strategy for regulating cryptocurrencies.  The report emphasizes the importance of leveraging existing regulations that address risks and enforcement measures while highlighting the crucial need for tailored regulations. Steps towards a robust framework Following the collapse of crypto exchange FTX, which began with the crypto exchange Binance selling its FTT tokens for “risk management reasons”, and the collapse of the Terra (LUNA) crypto token earlier…

Brazil CBDC Pilot Participants Chosen by Central Bank

In total, the bank received 36 interest proposals from over 100 institutions from a number of different financial sectors, including payment institutions, cooperatives, public banks, crypto companies, financial market infrastructure operators, and payment settlement institutes. Source

Starling Bank CEO to Step Down on June 30th after 10 Years in Charge

Starling CEO Anne Boden agrees to step down from the role at the British neobank next month over ‘conflict of interest’ concerns.  According to reports, Starling Bank co-founder and CEO Anne Boden will step down at the end of next month. Chief operating officer John Mountain is replacing Boden at the helm of the British digital bank. The CFO has been with Starling since 2015. Boden co-founded Starling in 2014 and grew the neobank’s profile and business visibility to become a leading UK financial player. The Starling CEO agreed to…

Investment Bank Berenberg Prefers MSTR Over COIN shares to Gain Crypto Exposure

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Analyst urges investment in bitcoin and treasuries, warns of US bank risks

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In his latest interview on Stansberry Research with Daniela Cambone, Macro Guru Hugh Hendry, expanded his views on the U.S. banking system amid the uncertainty surrounding the financial sector. Specifically, he urged people to consider bitcoin (BTC) as part of their investment. US bank could restrict cash withdrawals In the interview, Hendry pointed out that the Federal Reserve’s (Fed) tight monetary policy has increased the probability of customers being restricted whenever they want to make withdrawals. In…

Revolut UK Banking License Application Faces Rejection by Bank of England

Amid financial scrutiny, UK fintech giant Revolut faces rejection for its long-running banking license application.  Revolut is facing a possible rejection of its UK banking license application submitted to the Bank of England (BoE). The British neobank’s long-standing application for a UK banking license appears to be in jeopardy and could cause a big blow to the company’s operational growth plans. Revolut has been campaigning for a license for two years, with high-ranking executives recently confident about approval this year. Although the BoE declined to comment on the rejection reports, some believe…

Australia’s Oldest Bank, Westpac, Takes Aim at Scams with Cryptocurrency Exchange Ban

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Westpac, Australia’s oldest bank, has made headlines by announcing a ban on cryptocurrency transactions to certain exchanges as part of a trial to reduce scam losses. The move comes in response to internal data revealing that half of all scam losses stem from investment scams, with one-third of scam payments being transferred to cryptocurrency exchanges. Investment scams have been identified as the largest portion reported to various Australian agencies, including Scamwatch, ReportCyber, the Australian Financial Crimes Exchange, IDCare, and ASIC. Westpac’s decision to block transactions to crypto exchanges has the…