Tag: finance

Crypto.com scores approval from Singapore finance regulators

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Major Singapore-based cryptocurrency exchange Crypto.com received in-principle approval from the Monetary Authority of Singapore (MAS) for its Major Payment Institution License. The license will let the platform provide a range of payment services in the country.  On Wednesday, June 22, Crypto.com announced the approval from MAS, which is necessary for offering the Digital Payment Token services within the framework of Singapore’s Payment Services Act. In the announcement, Kris Marszalek, co-founder and CEO of Crypto.com, confirmed the company’s commitment to collaborating with the MAS: “The Monetary Authority of Singapore sets a…

Crypto Industry Is Still ‘Embryonic,’ WEF Finance Lead Says

I think this year we are still on a level-setting stage. We’re trying to bring to the participants here an agenda that’s both rich, but balanced as it relates to the technical nuances of the crypto space. To those that are steeped in it, it’s a technical space, right? It’s got its own lexicon, it’s changing rapidly. We’re very mindful of putting the pieces in place in a way where it’s accessible. I think that benefits the industry. If I can be quite frank, I think, jargon, and sort of…

Crypto lending platform Babel Finance reaches counterparty debt agreement

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Hong Kong-based crypto lending firm, Babel Finance, has eased some of its immediate liquidity troubles by reaching debt repayments agreements with some of its counterparties. As previously reported, the firm issued a temporary suspension of redemptions and withdrawals from its products on June 17 after citing “unusual liquidity pressures” in the current bear market. The company stated it was taking swift action to protect clients and communicate with “all related parties.” In an update posted on June 20, Babel Finance stated that it has since taken three steps to help…

Babel Finance Reaches Debt Agreement With Counterparties After Withdrawal Freeze

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Russian Finance Ministry Rules Out Sale of Oil for Bitcoin – Economics Bitcoin News

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The Russian government considers bitcoin as a payment option for small business transactions, not for oil exports, the country’s finance ministry has indicated. A top official emphasized the department means that cryptocurrencies may be used in barter deals, but not as legal tender. Crypto Payments Not for Russian State Settlements, Ministry of Finance Says Cryptocurrency payments, in terms of international transactions, are seen by the authorities in Moscow as an alternative option for small private business contracts, but this will not affect Russian oil deliveries. The clarification was made by…

Sberbank to Conduct First Digital Asset Transaction on Own Platform – Finance Bitcoin News

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Russia’s largest bank, Sberbank, is going to carry out the first transfer of digital assets on its own dedicated platform within a month, a top executive revealed this week. The announcement comes after earlier this year, the bank was authorized to issue digital financial assets. Sberbank Prepares for Deal With Digital Financial Assets on Proprietary Platform Russian majority state-owned bank Sberbank (Sber) will perform the first transaction with digital financial assets (DFAs) on a platform developed by the institution within a month, Tass reported. The news agency quoted Anatoly Popov,…

"The Market Bottom Is Close.." | Raoul Pal’s Last WARNING – Latest Bitcoin and Ethereum Prediction

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io “The Market Bottom Is Close..” | Raoul Pal’s Last WARNING – Latest Bitcoin and Ethereum Prediction #Masterworks – the only investment platform dedicated to art investing: Invest in blue-chip art for the very first time. Purchase shares in great masterpieces from artists like Pablo Picaso, Banksy, Andy Warhol, and more. See important Regulation A disclosures at masterworks.io/cd Crypto Markets have continued on their downward trend with the threat of further monetary tightening hanging heavy over investors heads. With Bitcoin at 28,000 dollars,…

Babel Finance Has Put a Halt to Withdrawals Due to a Lack of Liquidity

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Babel Finance, a Hong Kong-based asset management firm and cryptocurrency lender, is the latest cryptocurrency lending provider to be hit hard by the current market. Babel Finance said on Friday that redemptions and withdrawals from its products would be temporarily halted due to “unusual liquidity challenges.” According to a note on Babel Finance’s website, “Recently, the crypto market has seen major fluctuations, and some institutions in the industry have experienced conductive risk events.” The company stated it is in close contact with all the involved parties related to the…

Which decentralized finance innovations are expected by the DeFi community?

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While the broader crypto market is on a downward spiral and social media is plagued with fears and complaints, some are choosing to focus on the decentralized finance (DeFi) space’s potential for the future.  In a DeFi subreddit, Redditor Popular_Rub9075 asked community members what they want to see more of in the DeFi space. According to the Redditor, while negative discussions are prevalent in social channels, it’s a “great time” to look into projects that have potential, while the market is down. In response to the thread, Reddit user Crumbedsausage…