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“Examiners should have taken more aggressive and decisive supervisory action to escalate several issues in light of the bank’s unchecked growth; its volatile funding and deposit concentrations; and its significant, pervasive, and persistent weaknesses in key control functions,” the report found. Source
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The National Bank of Georgia (NGB) is developing the digital GEL and is searching for a suitable partner. NGB plans to launch a Limited Access Live Pilot Environment through various use cases to test the technology capabilities and potential application areas of the Central Bank Digital Currency (CBDC) system. After extensive research, NGB has
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The governor of Banco Central do Brasil, the country’s central bank, announced plans to tighten crypto regulations due to rising adoption. During a speech to the parliamentary Finance and Taxation Commission on Sep. 27, Roberto Campos Neto drew attention to the increasing number of Brazilians importing crypto. According to data from the
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The governor of the Central Bank of Brazil, addressing the Finance and Taxation Commission of the country's parliament, said the bank has noted a significant surge in crypto adoption in the country and intends to react by tightening the digital assets regulation. During his speech on Sept. 27, Banco Central do Brasil
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Hypothekarbank Lenzburg, a regional Swiss bank with over $7 billion in assets, became the sixth Swiss bank to join Six Digital Exchange (SDX), per a recent update on Sep. 27. In addition to SDX’s parent company, Six Group, several other Swiss banks, including Berner Kantonalbank, Credit Suisse, Kaiser Partner Privatbank, UBS,
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Hypothekarbank Lenzburg, a regional Swiss bank with over $7 billion (6.6 billion Swiss francs) in assets, has joined the Central Securities Depositary of the crypto exchange SDX. According to the press release from Sept. 27, Hypothekarbank Lenzburg will become the sixth bank to join SDX along with Berner Kantonalbank, Credit Suisse,
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Bahrain-based Bank ABC will use JPMorgan’s Onyx Coin Systems for blockchain-based cross-border payments in a soft, or limited, launch. The new service will be more cost effective and reduce settlement times relative to traditional solutions.Bank ABC will at first use the U.S. dollar in transactions involving Bahrain, the United States,
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The global economy may not be ready to face the worst-case scenario of the U.S. interest rate rising as high as 7% with stagflation, according to the CEO of investment banking giant JPMorgan (JPM), Jamie Dimon, Bloomberg reported on Tuesday. Since March 2022, the Federal Reserve has raised the benchmark
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This partnership is also a significant stride in the Japanese government’s endeavor to embrace blockchain technology and cryptocurrencies, fostering their broader adoption within the country and beyond. Binance Japan is partnering with Mitsubishi UFJ (MUFG) Trust Bank, a move squarely aligned with the Japanese government’s new Web3 policy. This collaboration aims
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The firm has registered as a crypto exchange and custody wallet provider. Source
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