Tag: Report

Russia’s Central Bank report examines crypto’s place in the financial system

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The Central Bank of Russia (CBR) is looking at ways to integrate crypto assets and blockchain technology into its local financial system amid a pile-on of global financial sanctions. In a Telegram post by the CBR on Nov. 7, the central bank shared a public consultation report titled “Digital Assets in Russian Federation.”  It considers how the sanction-hit state may possibly open up its domestic market to foreign issuers of digital assets — particularly those from “friendly countries.” Other areas of focus in the report are digital asset regulation, retail investor protections,…

Crypto no more in top 10 most-cited potential risks: US central bank report

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While proponents of traditional finance remain keen on dismissing Bitcoin (BTC) and the crypto ecosystem as financial risks, a survey conducted by the Federal Reserve Bank of New York — one of the 12 federal reserve banks of the United States — revealed 11 factors that overshadow crypto in terms of risk in 2022. Geopolitical tensions, foreign divestments, COVID-19 and high energy prices were found to be some of the most-cited potential risks for the US economy, according to a central bank survey published by the Federal Reserve System. Federal…

Lebanese Mint, Keep, Spend Crypto Amid Crisis, Report Unveils – Economics Bitcoin News

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Living in the chaos of a deep crisis, people in Lebanon have been turning to cryptocurrency, a new media report has confirmed. From earning much needed income through mining and work, to storing wealth and paying in stores, bitcoin, tether and other cryptos have started to push aside the hyperinflated Lebanese pound and the hard-to-get-hold-of U.S. dollar. Cryptocurrency Becomes Lifeline for Some Lebanese Who Try to Make Ends Meet in Meltdown With its capital Beirut once called the “Paris of the Middle East,” before the civil war broke out in…

Crypto Exchange Bybit Does Not Plan to Sanction Russian Users Despite MAS Call, Report – Exchanges Bitcoin News

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Cryptocurrency exchange Bybit has no intention to introduce restrictions for Russian traders, despite a recent reminder by the Monetary Authority of Singapore (MAS) about the obligations of crypto providers in that respect. According to a crypto media report, the platform shared its position in correspondence with partners. Bybit Reportedly Vows to ‘Not Discriminate Against Crypto Users Based on Location and Passport’ Singapore-based crypto exchange Bybit will not restrict users from the Russian Federation, despite the city-state’s central bank reiterating this week that licensed coin trading platforms must comply with sanctions…

Coinbase’s Stock Jumps After Third Quarter Report Details Crypto Exchange’s Cost-Cutting Measures

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Coinbase’s stock price is seeing a small bump after the crypto exchange’s third-quarter shareholder letter indicated the company had cut costs and seen a rise in subscription and services revenue. Coinbase says Q3 was a “mixed quarter” for the company. The top US crypto exchange registered $366 million in Q3 transaction revenue, a 44% decline from the second quarter of 2022. Coinbase’s overall net revenue was $576 million, a 28% quarter-on-quarter decrease. Conversely, however, the exchange’s subscription and services revenue stood at $211 million, a 43% increase from Q2. Coinbase…

BTC Rebounds on Friday, as NFP Report Looms – Market Updates Bitcoin News

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Cryptocurrency prices rebounded on Friday, as markets prepared for the latest U.S. nonfarm payrolls (NFP) report. It is expected that 200,000 jobs will have been added to the United States workforce, which comes as job openings once again trended higher. Bitcoin moved away from a recent floor of $20,060, with ethereum surging closer to $1,600 ahead of today’s report. Bitcoin Bitcoin (BTC) prices rebounded on Friday, as markets began to prepare for the release of October’s nonfarm payrolls report. The jobs day report is expected to show that 200,000 jobs…