Cryptocurrency Analysis and News Portal
The Financial Integrity Network (FIN) — a Washington D.C.-based advisory firm — has urged the United States Congress to regulate firms in the cryptocurrency sector under the Bank Secrecy Act (BSA).Virtual asset service providers should be regulated under BSAIn a copy of FIN testimony published ahead of a hearing
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On Aug. 29, German blockchain-based banking startup, Bitwala, announced the launch of its smartphone app for Bitcoin banking on iOS and Android. Customers in over 30 European countries can now open a German bank account with integrated Bitcoin wallet and trading. Open an account directly from within the app in
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Binance Research, the research arm of the major crypto platform Binance, has reported that no bank account will be necessary to use China’s Central Bank Digital Currency (CBDC).Loose coupling and anonymityBinance Research shared its findings on Aug 28. According to the report, China’s CBDC will be transferable without a
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Multinational banking giant HSBC has reportedly become the first bank to complete financing transaction on European blockchain trade platform we.trade.Since we.trade started the project back in 2017, HSBC recently financed a transaction on the platform within a second round of pilots that started in June 2019, economics magazine Global
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The U.S dollar is arguably the most popular currency today. Controlled by the most powerful country in the world, the U.S. dollar currently holds a substantial influence over trade across the globe. But according to the Bank of England governor, cryptocurrency might take its place.The governor of the Bank of
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Standard Bank, Africa’s largest bank by total assets, has joined blockchain-based trade finance network, the Marco Polo Network.Standard Bank will now develop trade finance solutions alongside major global financial institutions such as French BNP Paribas and Dutch ING, according to a press release on Aug. 22.Backed by the world’s
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Rwanda’s central bank, the National Bank of Rwanda, is researching how to offer an official digital currency.BNN Bloomberg reported the news on Aug. 22. The central bank is interested in offering digital currency as a means to increase transaction efficiency and foster economic growth, per the report. However, Financial
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While investors agree that the current monetary policies from central banks will spell doom for the market, there is no consensus on which asset takes primacy as a hedge against the coming uncertainties. Mark Mobius of Mobius Capital Partners recently told Bloomberg, that rising bitcoin interest will only fuel the
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India’s supreme court has slammed the country’s central bank over its handling of a cryptocurrency business ban and ordered it to address complaints.Judge: RBI has not properly responded to representationIn the latest session of an ongoing hearing into the actions of the Reserve Bank of India (RBI) on Aug.
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The US Patent and Trademark Office (USPTO) published a new patent application by Bank of America titled “Multi-Tiered Digital Wallet Security,” on August 15. As listed, the new patent’s system was invented by the banking firm’s senior technology manger, Manu Kurian.The patent was initially filed by Bank of America in
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