Posts in category

Banks


Citibank India is the latest major bank to ban its customers from using credit cards for purchasing cryptocurrencies, but it has taken the measure one step further by banning the use of debit cards for crypto purchases as well, Quartz India reports today, Feb. 14. Quartz India wrote today that it personally reviewed an email …

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Ripple has announced an agreement today, Feb. 14, with the Saudi Arabian Monetary Authority (SAMA) to provide support for Ripple’s cross-border payments technology to banks in the Kingdom of Saudi Arabia (KSA). SAMA and Ripple have created a pilot program to provide support to KSA banks to use xCurrent, Ripple’s enterprise software solution that enables …

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Veerathai Santiprabhob, governor of the central Bank of Thailand, has asked all banks in Thailand to stay away from cryptocurrency, Reuters reported yesterday, Feb. 13. According to Reuters, the central bank released a circular Monday that bans banks in Thailand from investing and trading in crypto, as well as participating in and creating exchanges and …

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The European Supervisory Authorities (ESAs) has warned customers that cryptocurrencies are “highly risky” assets that show “clear signs of a pricing bubble” in a pan-European Union consumer warning released Monday, Feb. 12. The ESAs is made up of the European Securities and Markets Authority (ESMA), the European Banking Authority (EBA) and the European Insurance and …

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Speaking to CNBC on Monday, Feb. 12, chief fintech officer of the Monetary Authority of Singapore (MAS) Sopnendu Mohanty said it will be “two years” before the central bank’s Blockchain project sees “real impact.” Discussing the state of its “Project Ubin” and cryptocurrency in general, Monetary Authority of Singapore (MAS) chief fintech officer Sopnendu Mohanty …

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J.P. Morgan has called cryptocurrencies the “innovative maelstrom” around Blockchain and said they are “unlikely to disappear” in what appears to be an internal report from the company, published Feb. 8, 2018. In an extract from what is allegedly the banking giant’s executive summary on cryptocurrency, the company appears bullish on crypto’s future. “Cryptocurrencies are …

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The Federal Reserve Bank of New York published an interview on their site Friday, Feb. 9, in which two of its economists explain cryptocurrency, highlighting crypto’s “trustless” nature, but expressing doubt that cryptocurrency could ever “realistically compete with current payment methods.” Michael Lee and Antoine Martin, both economists in the New York Fed’s Research and …

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In our Expert Takes, opinion leaders from inside and outside the crypto industry express their views, share their experience and give professional advice. Expert Takes cover everything from Blockchain technology and ICO funding to taxation, regulation and cryptocurrency adoption by different sectors of the economy. If you would like to contribute an Expert Take, please …

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Virgin Money, a financial services company present in Australia, South Africa, and the United Kingdom, has followed several US and British banks by banning credit card purchases of cryptocurrencies. A spokesperson for Virgin Money told BBC that, “Following a review of our policies, I can confirm customers will no longer be able to use their …

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Augustín Carstens, the general manager of the Bank for International Settlements (BIS), called Bitcoin a “combination of a bubble, a Ponzi scheme and an environmental disaster”  and asked central banks to more closely regulate cryptocurrencies during a speech at Goethe University on Feb. 6. BIS is known as the “bank for central banks,” for it …

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Credit card holders from four U.S. banks have been barred from purchasing cryptocurrencies using credit cards at Coinbase, the exchange has confirmed. According to the firm’s latest tweet, credit card users from JPMorgan Chase, Bank of America, Citi and Capital One are all currently prohibited from purchasing cryptocurrencies at the platform. However, other payment channels …

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Lloyds Banking Group, the largest bank in the UK, has become the first major credit card provider in the country to ban its customers from using credit cards to buy cryptocurrencies, the Daily Telegraph reported today, Feb. 5. Their ban follows directly on the heels of J.P. Morgan Chase, Bank of America, and Citigroup’s identical …

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Tezos Foundation president Johann Gevers has sparked new controversy over the project after deleting a rare post about its future plans Monday, Jan. 29. Tezos, which is at the center of several public lawsuits over delays issuing tokens from its $232mln ICO last year, continues to suffer from infighting between Gevers’ foundation and the project’s …

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Everyone, even the biggest skeptics of Bitcoin and other cryptocurrencies have all had their positives to say about the underpinning Blockchain technology which has the potential to change the world. However, it has been 10 years since Blockchain technology came into the open, and yet we still don’t really have a major use for it. …

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Texas regulators have issued an unconditional cease and desist order to the self-described ‘cryptocurrency bank’ AriseBank on Friday, Jan. 26, ordering it to halt any services to the state’s residents. In a formal press release Friday, the Texas Banking Commissioner Charles G. Cooper implied the business, which has generated considerable controversy with its alleged offerings, …

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Portugal’s Central Bank Director Hélder Rosalino said that he didn’t consider cryptocurrency a currency or legal tender and hinted that the Central Bank of Portugal has a similar position. His views are in line with many countries around the world, including the US where “a cryptocurrency does not have legal tender status in any jurisdiction.” …

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It has been a depressing fortnight for anybody reading various mainstream headlines touting the ‘end of Bitcoin’ and the arrival of the ‘crypto bubble’ crash. Unsurprisingly, the most recent cryptocurrency market slump has led to naysayers stepping onto their soapboxes, crying out messages of ‘I told you so’. Their rhetoric is not unfounded, given that …

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Danish finance and workers’ rights figures have threatened legal action against major bank Nordea after it announced this week that it will ban its employees from owning Bitcoin by Feb. 28. Speaking to local radio station Danmarks Radio (DK), Danish Financial Federation chairman Kent Petersen joined DJØF Union consultant Niels Mosegaard in condemning Nordea’s move, …

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The Chairman of UBS Bank, the world’s largest manager of wealth, Axel Weber stated on Jan. 23 that he does not advise the bank’s clients to invest in cryptocurrencies, although he makes a distinction between institutional and retail clients when discussing the subject. Speaking to CNBC at the World Economic Forum (WEF) in Davos, Weber …

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Bitcoin exchanges are under fire in India, as many of the nation’s top banks have suspended or greatly curtailed functionality on exchange accounts. State Bank of India (SBI), Axis Bank, HDFC Bank, ICICI Bank and Yes Bank have all taken strong action toward crypto exchanges, either closing accounts or severely limiting functionality. The banks cite …

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