Cryptocurrency Analysis and News Portal
A United States banking industry regulator warned banks of the “emerging risks” of cryptocurrencies saying the sector should take a “cautious approach” and seek permission in some cases when engaging with crypto or crypto firms.Citing “dislocations” in the crypto market over 2022 the Office of the Comptroller of the Currency
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Sherrod Brown, chair of the United States Senate Banking Committee, has called on Treasury Secretary Janet Yellen to work with financial regulators and lawmakers on comprehensive crypto legislation “in the wake of FTX’s implosion.”In a Nov. 30 letter to Yellen, Brown requested the Treasury Secretary coordinate with regulators to address
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The bankruptcy proceedings of cryptocurrency exchange FTX have revealed many new aspects of its unethical practices. The latest revelation around its stake in one of the smallest United States banks from rural Washington has raised fresh concerns about its operations and alleged misuse of banking loopholes.Farmington State Bank in the
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Bitpreco, a Brazilian cryptocurrency exchange, has decided to extend its functionality to offer banking services through a new platform called Bitybank. The company, which will also open payment and digital account services, plans to attract users to crypto through cashback programs that counter the fears of users purchasing cryptocurrencies in
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Chairman of the United States Senate Banking Committee Sherrod Brown and three other Democratic committee members sent letters Nov. 21 to federal officials and to Anthony Noto, president of SoFi Technology. They expressed concern about the online bank’s efforts to conform to Federal Reserve Board requirements and nonbank digital asset
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VTB has become the first Russian bank to add the digital ruble to its mobile application. The integration is currently being tested with accounts set up for legal entities. Select customers will be granted access in the coming months and will be able to join the trials. VTB’s Mobile App to
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The next time Bitcoin (BTC) comes under fire for energy consumption, remember this statistic. The banking industry uses at least 56 times more energy. That's according to cryptographer and founder of Valuechain, Michel Khazzaka: "I’m not saying it uses less or the same, just know it uses 56 times more than
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CBDCs are a declaration of war against the banking system, Richard Werner — development economist and professor at De Montfort University — told Cryptox at Web Summit on Nov. 4.Known for his quantitative easing theory, published almost 30 years ago, Werner is an advocate for a decentralized economy. In an
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Web3 dominance within crypto funding rounds has been well documented by Cryptox Research. In addition to the Web3 mega funds announced recently, venture capital has also been making smaller, more targeted investments in the sector. In this week’s Venture Capital (VC) Roundup, we chronicle the latest Web3 funding initiatives and
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Stablecoins could have such a profound effect on the established banking system that U.S. regulators need to require the digital tokens fit in without disrupting it, said Martin Gruenberg, the acting chairman of the Federal Deposit Insurance Corp. (FDIC), at a Brookings Institution event on Thursday. Source
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