EU Crypto Banking License Procedures Are too Inconsistent, ECB Says
The eurozone supervisor is seeking to smooth out a process dominated by German and Luxembourgish banks. Source
Read More
Banking
IMF Studies How CBDCs Imply Islamic Banking System
The IMF explained that CBDCs design is complicated by Islamic law prohibiting usury and speculation. The International Monetary Fund (IMF) has examined the central bank digital currencies (CBDCs) design and found some risks in the context of Islamic banking. Following the IMF study, results showed that the liquidity of CBDCs and
Read More
SpankPay crypto payment service shutters, citing ‘hostile banking environment
Ethereum-based adult entertainment platform SpankChain is shuttering its crypto payment processor, SpankPay, after losing its payment service provider Wyre in February and failing to find a new one. In February, SpankPay revealed that its previous provider — crypto payment platform Wyre — had terminated its agreement to provide payment services to
Read More
IMF examines CBDC design in context of Islamic banking, finds some risks magnified
A central bank digital currency (CBDC) can impact monetary policy by increasing money velocity, disintermediation, volatility of bank reserves, currency substitution and altered capital flows, even when it is not designed to do so, according to a study published by the International Monetary Fund. The unintended impact of a CBDC
Read More
Credit Suisse’s Buyout Shows Banks Still Have a Banking Problem
Credit Suisse’s Buyout Shows Banks Still Have a Banking Problem Source
Read More
No Crypto Banking Port Has Really Opened Up in This U.S. Storm
The largest U.S. bank, JPMorgan, hasn’t slammed the door on crypto companies, but it’s being especially careful with any new customers, according to a person familiar with the situation. It won’t take on any full-on crypto businesses, but it’s still willing to extend basic banking services to a handful of
Read More
Goldman Sachs Note Expects Fed to Pause Next Rates Hike Following Banking Crisis
A Goldman Sachs economist anticipates that the Fed would suspend its forthcoming rates hike due to “stress in the banking system.” Goldman Sachs (NYSE: GS) believes the US Fed would not hike rates as planned due to prevailing macroeconomic circumstances. In a note published Monday morning, the banking giant’s economist David Mericle
Read More
Cryptocurrency Outlook Is Strengthened by U.S. Banking Turmoil: Coinbase
More people now appreciate the fundamental value proposition of having an alternative to the traditional financial system, the report said. Source
Read More
Australian Banking Association’s cost of living inquiry reveals bank pressure
The trade association for the Australian banking industry — Australian Banking Association (ABA) — launched a cost of living inquiry to closely study the impact of the COVID-19 pandemic, global supply chain constraints and geopolitical tensions, among others, on Australians.An analysis of the rising inflation and concurrent collapse of three
Read More
Bitcoin rides banking sector chaos over the $28k mark
The crypto market had seen a significant milestone amid the banking crisis as bitcoin (BTC) surged to new highs of $28,000, a price last seen in June 2022. The digital currency has also topped Goldman Sachs’ list of top-performing investment assets. Bitcoin tops $28k Investors and crypto enthusiasts have closely monitored bitcoin
Read More