Tag: Report

Crypto Market Rout Fuels Global Exchange Volumes — Kraken, Coinbase Report Connectivity and Latency Delays – Exchanges Bitcoin News

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Amid the market carnage on Tuesday, Nov. 8, the top ten cryptocurrency exchanges have seen trade volumes soar. During the 24-hour period on Tuesday, the top five exchanges alone recorded more than $60 billion in trade volume. Out of the top ten crypto exchanges by trade volume, exchanges saw increases between 126% to 305% during the past day. While the exchange volumes soared, the trading platforms Coinbase and Kraken reported the exchanges suffered from connectivity problems. Tuesday’s Crypto Exchange Volume Jumps 183% Higher Than Last Week, Top 5 Exchanges Record…

Countries ignoring crypto AML rules risk placement on FATF’s ‘grey list’ — Report

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Countries failing to adhere to anti-money laundering (AML) guidelines for cryptocurrencies could find themselves added to the Financial Action Task Force’s (FATF’s) “grey list.” According to a Nov. 7 report from Al Jazeera, sources say the global financial watchdog is planning to conduct annual checks to ensure countries are enforcing AML and counter-terrorist financing (CTF) rules on crypto providers. The grey list refers to the list of countries the FATF deems as “Jurisdictions under Increased Monitoring.” The FATF says countries on this list have committed to resolving “strategic deficiencies” within…

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…