Tag: Issuing

Coinbase to Stop Issuing New Bitcoin-Backed Loans via Its Borrow Service

The reason behind the exchange’s decision is not clear. According to those familiar with the matter, closing the service is not linked to the scrutiny from SEC which has alleged that Coinbase was offering and trading unregistered securities, thereby violating federal securities laws.  Crypto exchange Coinbase Inc (NASDAQ: COIN) has announced its decision to stop issuing loans through its Coinbase Borrow service where Bitcoin (BTC) has been serving as collateral. Starting from May 10, customers will no longer be able to access the feature. However, the existing outstanding loans will not…

Coinbase to cease issuing new Bitcoin-backed loans via Borrow service

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Crypto exchange Coinbase is stopping the issuance of new loans through its Borrow service, a product that allowed certain United States customers to post crypto as collateral to receive a cash loan. In an email sent to Coinbase Borrow customers on May 3 that was shared by recipients on Twitter, the exchange said — without providing a reason — that from May 10, customers wouldn’t be able to take out new loans using Coinbase Borrow. It added that there would be no impact on outstanding loans, and customers did not…

BRICS to Promote National Currencies Before Issuing Common One – Finance Bitcoin News

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The BRICS bloc is now focused on expanding the use of the currencies of its members, according to the representative of one of them. The establishment of a single currency for the group is not an immediate task at this point in time, the diplomat indicated in an interview. Wider Use of National Fiats of BRICS States to Precede Launch of Single Currency Experts at BRICS are putting efforts into deepening ties between the economies and financial markets of its member states, with the aim of creating a common currency.…

Belarus to decide on issuing CBDC by year’s end: National bank chair

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The National Bank of the Republic of Belarus has prepared a pilot program for a central bank digital currency (CBDC), according to the official BelTA news agency. The country will make a decision on the issuance of a digital Belarusian ruble by the end of the year, chairman of the national bank Pavel Kallaur said.   “By the end of the year, after discussions and consultations, we should determine the possibility and feasibility of introducing a digital ruble in our country,” Kallaur said. “The decision will be made at the…

Israel’s Central Bank Outlines Scenarios for Issuing a Digital Shekel

Scenarios that could influence a decision to issue a digital shekel include a decision by the U.S. or the European Union to issue CBDCs. A decline in cash usage, significant use of stablecoins, competition in the domestic payment system, and significant technological developments in payments systems could also sway the central bank’s decision to issue one. Source

UK banking regulator to propose crypto issuing, holding rules after Basel 3 finalized

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The United Kingdom’s bank regulator, the Prudential Regulatory Authority (PRA), will propose rules for issuing and holding digital assets, Bank of England (BOE) executive director of the Prudential Policy Directorate Vicky Saporta said in a speech at the bank Feb. 27. The rules will be developed with consideration for Basel III rules and the Financial Services and Markets (FSM) bill now being considered by the Parliament.  The FSM bill, which had its second reading in the House of Lords in January, would give the PRA the new secondary objective of…

Prudential Regulatory Authority, the UK’s Banking Regulator, to Propose Rules on Issuing Holding Crypto

CryptoX – Cryptocurrency Analysis and News Portal New standards for PRA-regulated firms will be coherent with rules for other sectors, according to a footnote accompanying the text of the speech. The Basel Committee on Banking Supervision, the banking industry’s global regulator, published a standard on how banks should treat crypto exposure in December. Source The post Prudential Regulatory Authority, the UK’s Banking Regulator, to Propose Rules on Issuing Holding Crypto appeared first on CryptoX. CryptoX Portal