Tag: News

Somalia to Fight Inflation and Counterfeiters With New Banknotes – Africa Bitcoin News

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According to the deputy governor of the Somalian central bank, Ali Yasin Wardheere, the institution plans to fight inflation and currency counterfeiters with newly issued shilling banknotes. The bank reportedly said it hopes to complete the process of replacing old and high-value shilling bills with newly designed banknotes in 2024. Preserving the Value of New Money The Central Bank of Somalia (CBS) plans to replace old, high-value shilling bills that have been in circulation since 1991 with redesigned banknotes. The central bank hopes this process, which it expects to complete…

Banking Panel Reinforces the Need for Crypto Regulation – Bitcoin News

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A group of global banking experts hosted by the World Economic Forum (WEF) convened about the need for global crypto regulation, including stablecoins and unbacked crypto assets. The panel agreed there must be at least some kind of base regulation for these assets and bank-equivalent regulation for blockchain applications seeking to offer products similar to what traditional banking offers. WEF Global Banking Panel Seeks More Crypto Regulation Global bankers have agreed on the need for more clear regulations for cryptocurrencies. In a panel titled “Banking in the Eye of the…

Silvergate Capital Incurs Loss of $1 Billion in Q4 of 2022 – Finance Bitcoin News

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Silvergate Capital Corporation, the parent firm of the crypto-focused bank Silvergate Bank, has attributed the $1 billion loss it incurred in the fourth quarter of 2022 to the confidence crisis that permeates the entire crypto ecosystem. While Silvergate has taken steps to help it navigate the current environment, according to the CEO Alan Lane, the firm remains “focused on providing value-added services for [its] core institutional customers.” Confidence Crisis Less than a month after Silvergate Bank reported a massive drop in customer deposits, the crypto-focused financial institution’s parent firm, Silvergate…

Binance to Increase Presence in Poland in Compliance With Local Regulations – Exchanges Bitcoin News

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Binance has unveiled intentions to broaden its activities in Poland, another EU member state where the global cryptocurrency exchange is registered. The coin trading platform plans to develop its Polish entity, recruit local talent and launch educational initiatives. Crypto Exchange Binance Moves Forward With Plans to Expand Operations in Poland Binance, the world’s largest digital asset trading platform, is enhancing its presence in Poland, noting in an announcement that it maintains its commitment to comply with the country’s rules for virtual asset service providers (VASPs). The expansion in 2023 will…

Nexo Agrees to Pay $45 Million to SEC and State Regulators for Unregistered Offering of Earn Interest Product – Bitcoin News

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The cryptocurrency lender, Nexo, has agreed to pay $45 million to the U.S. Securities and Exchange Commission (SEC) and several state regulators after charges were levied against the firm for failing to register the company’s Earn Interest Product (EIP). Nexo detailed that the settlements are on a “no admit, no deny” basis and that the arrangement “closes all multi-year-long inquiries into Nexo.” Nexo Pays $22.5 Million to SEC, $22.5 Million to Several State Regulators for EIP Offering On Jan. 19, 2023, Nexo announced that it has agreed to settle with…

Ripple CEO ‘Optimistic’ About SEC Lawsuit Over XRP — Says ‘I Feel Very Good About Where We Are’ – Regulation Bitcoin News

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Ripple CEO Brad Garlinghouse says that he is “optimistic” that the Securities and Exchange Commission (SEC) lawsuit over xrp “will certainly be resolved in 2023.” He added that it could even be resolved in the first half of this year. “I feel very good about where we are relative to the law and the facts, the Ripple executive said. Ripple CEO Feels ‘Optimistic’ About SEC Lawsuit The CEO of Ripple Labs, Brad Garlinghouse, shared his view on the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) over the…

NYU Professor ‘Dr. Doom’ Says 99% of Crypto Is a Scam — Tells Investors to ‘Absolutely Stay Away’ – Featured Bitcoin News

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NYU Professor Nouriel Roubini, aka Dr. Doom, has warned that “99.99% of crypto is a scam, a criminal activity, a total real-bubble Ponzi scheme that is going bust.” He advised investors to “absolutely stay away” from crypto, claiming that most people in the crypto space are “all crooks.” Dr. Doom Warns Nearly 100% of Crypto Is a Scam Economic professor Nouriel Roubini, aka Dr. Doom, warned about cryptocurrency in an interview with Yahoo Finance Live Wednesday at the World Economic Forum in Davos, Switzerland. Roubini is a professor of economics…

CPCoin (CPC) Is Now Available for Trading on LBank Exchange – Press release Bitcoin News

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press release PRESS RELEASE. INTERNET CITY, DUBAI, Jan 19, 2023 – LBank Exchange, a global digital asset trading platform, has listed CPCoin (CPC) on January 19, 2023. For all users of LBank Exchange, the CPC/USDT trading pair is now officially available for trading. CryptoPerformance is disrupting the crypto industry through its internal and highly developed blockchain, the CPCx0 Chain, its native coin CPCoin, and a buy and hold platform – which together ensure a one-stop-shop for all crypto users and high-quality products and services. Its native coin CPCoin (CPC) has…