Tag: News

Crypto Bank Custodia Denied Membership in US Federal Reserve System – Finance Bitcoin News

The U.S. Federal Reserve Board has rejected the attempt of Custodia Bank to become member of the Federal Reserve System. According to the decision announced Friday, the application submitted by the digital asset bank is inconsistent with legal requirements. Federal Reserve Board Says Business Model Proposed by Custodia Bank Presents Risks Crypto bank Custodia has been denied membership in the United States Federal Reserve System. In an announcement dated Jan. 27, the Federal Reserve Board explained that the application, as submitted by the company, is “inconsistent with the required factors…

Ghanaian and Nigerian Central Bank Open Respective Regulatory Sandbox Application Processes – Fintech Bitcoin News

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The Ghanaian and Nigerian central banks have invited financial innovators that wish to be included in their respective regulatory sandboxes to submit applications. The Bank of Ghana said its sandbox will also support innovations that attempt to solve the financial exclusion challenge. Solving the Financial Exclusion Challenge The Ghanaian central bank has called on registered financial institutions and unlicensed fintech startups to apply for admission into its regulatory sandbox. In a press statement issued on Jan. 26, the bank said the process to admit the first cohort of participants will…

Institutional Investors Forecast ‘Strong Year’ for Bitcoin — 65% Expect BTC to Hit $100K, Survey Shows – Markets and Prices Bitcoin News

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A new survey shows that institutional investors expect “a strong year ahead for bitcoin” and are confident about the cryptocurrency’s long-term valuation. In addition, 65% of institutional investors surveyed agree that bitcoin could reach $100,000. ‘Strong Year Ahead for Bitcoin’ Nickel Digital Asset Management published the results of a survey Thursday showing how high institutional investors expect the price of bitcoin to reach. The London-based investment manager is registered with the U.K. Financial Conduct Authority (FCA) and the U.S. Commodity Futures Trading Commission (CFTC). The survey, commissioned by Nickel and…

Crypto Association in Turkey Vows to Block Exchanges That ‘Victimize Traders’ – Exchanges Bitcoin News

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A new organization has been established in Turkey with the aim to monitor and help develop the country’s crypto sector, local media reported. Its first task will be to address recent problems with some cryptocurrency exchanges and boost confidence in the industry as a whole. New Entity to Deal With Issues in the Crypto Space in Turkey, Hopes to Increase Transparency People trading cryptocurrencies in Turkey have been estimated at over 8 million as of 2022, according to Emrah Inanc, head of the Crypto Industry Development, Monitoring and Reporting Association.…

Elon Musk Reaffirms Offer to Eat Happy Meal on TV if McDonald’s Accepts Dogecoin – Featured Bitcoin News

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Tesla and Twitter CEO Elon Musk has reaffirmed his commitment to eat a McDonald’s Happy Meal on TV if the fast food chain accepts the meme cryptocurrency dogecoin (DOGE). Musk originally made the offer a year ago but McDonald’s responded with a counteroffer at the time. Elon Musk, McDonald’s, and Dogecoin Payments Tesla, Spacex, and Twitter CEO Elon Musk has reaffirmed his commitment to eat a McDonald’s Happy Meal on Television if the fast food giant starts accepting payments in dogecoin (DOGE). It has been a year since the billionaire…

Robert Kiyosaki Says ‘We Are in Global Recession’ — Warns of Soaring Bankruptcies, Unemployment, Homelessness – Economics Bitcoin News

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The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says that we are in a global recession. Warning of soaring bankruptcies, unemployment, and homelessness, he noted that there is good news for investors looking for “bargains.” Robert Kiyosaki’s Latest Warnings The author of Rich Dad Poor Dad, Robert Kiyosaki, is back with more warnings about the U.S. economy and global recession. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List…

White House Publishes ‘Roadmap’ to Mitigate Cryptocurrency Risks – Regulation Bitcoin News

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The White House has published a “roadmap to mitigate cryptocurrencies’ risks.” The roadmap calls for authorities to “ramp up enforcement where appropriate” and Congress “to step up its efforts” to regulate the crypto sector. It also notes that legislation should not greenlight mainstream institutions “to dive headlong into cryptocurrency markets.” ‘The Administration’s Roadmap to Mitigate Cryptocurrencies’ Risks’ The White House published a blog post titled “The Administration’s Roadmap to Mitigate Cryptocurrencies’ Risks” Friday under the National Economic Council (NEC), an Executive Office of the President (EOP) established to advise the…

New York Considers Bill to Establish Cryptocurrency as a Form of Payment for State Agencies – Regulation Bitcoin News

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A bill has been introduced in the U.S. state of New York to allow state agencies to accept cryptocurrency payments, including bitcoin, ether, litecoin, and bitcoin cash. The legislation proposes allowing crypto to be used as “a means of payment of fines, civil penalties, rent, rates, taxes, fees, charges,” and more. Bill to Allow State Agencies to Accept Crypto Payments New York State Assembly member Clyde Vanel introduced a bill Thursday that “establishes cryptocurrencies as a form of payment for state agencies,” according to the bill’s description on the New…

Stablecoin Economy Sheds Another $3 Billion in 44 Days – Altcoins Bitcoin News

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The stablecoin economy continues to deplete as more than $3 billion has been erased from the stablecoin market ecosystem over the last 44 days. While statistics show that tether’s market valuation has risen by 2% over the last 30 days, usd coin’s market cap slid by 2.9%, BUSD valuation shed 7.2% over the last month and gemini dollar’s market capitalization slid by 1.5%. $3 Billion in Dollar-Pegged Tokens Erased in 44 Days as Stablecoin Swaps Represent Nearly 80% of Global Crypto Trade Volume The overall value of the top stablecoins…

US Federal Reserve Board Issues Policy Statement That Limits Banks’ Crypto Related Activities – Regulation Bitcoin News

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The United States Federal Reserve Board said on Jan. 27 that both insured and uninsured banks will be subjected to limits on certain activities including those that are associated with crypto assets. The board’s latest action does not preclude a state member bank or prospective applicant from providing crypto-assets safekeeping services. Limiting Regulatory Arbitrage The United States Federal Reserve Board has issued a new policy statement which says that both insured and uninsured banks under its supervision will be subjected to the “same limitations on activities, including novel banking activities,…