Cryptocurrency Analysis and News Portal
“Bitcoin has brought digital transactions to previously unbanked communities across Latin America, Africa and beyond,” said Galoy CEO Nicolas Burtey in a press release. “However, its volatility makes managing financial obligations difficult. With Stablesats-enabled Lightning wallets, users are able to send from, receive to, and hold money in, a [U.S.
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European Banking Authority Chair José Manuel Campa said the agency does not yet have the capacity to supervise digital assets. A major concern is hiring and retaining the specialized staff required because there is a high demand for crypto talent, he told the FT in an interview published Wednesday. Source
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In the bill, cryptocurrencies are referred to as “digital settlement assets,” (DSAs), meaning “a digital representation of value or rights.” The rules will largely apply to stablecoins – cryptocurrencies whose prices are pegged to another asset, such as the U.S. dollar, along with other digital assets used for payments or
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French Bank BNP Paribas (BNP.PA) is entering the crypto custody space via a partnership with Swiss digital asset safekeeping firm Metaco, according to three people with knowledge of the deal. Source
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Banking Circle, a European bank focused on cross-border payments, is adopting a major U.S. dollar-pegged stablecoin for payment rails.The firm officially announced on Friday the adoption of the USD Coin (USDC) on its platform as a payment acceptance, processing and settlement method.The new payment feature is enabled as part of
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“There are some vulnerabilities and risks in that space that do warrant a cautious and careful approach,” Hsu told reporters on a call about his agency’s Semiannual Risk Perspective (released Thursday), which again highlighted digital assets as a space that could pose dangers to lenders in the U.S. The agency
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KBC Group, a major European banking and insurance institution headquartered in Belgium, has launched a token based on a blockchain platform. Its customers will be able to acquire the new proprietary coins and use them through their KBC wallet and mobile app. KBC Issues Digital Coin for Clients and Partners KBC, the
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"The committee plans to publish another consultation paper over the coming month, with a view to finalizing the prudential treatment around the end of this year," it said. Since 2008, the Basel, Switzerland-based organization has steadily toughened banks' capital requirements to avoid a repeat of the financial crisis. Source
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“Figuring out digital asset custody in Wyoming, we reached out to and spoke with the U.K.’s FCA [Financial Conduct Authority], and countries such as Finland, Switzerland, Abu Dhabi and Bermuda,” Forkner said in an interview. “The U.S. is much more complex because you’ve got a dual banking system and multiple
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An African regulator has told members of the six-nation Economic and Monetary Community of Central Africa (CEMAC) that a ban on cryptocurrencies is still effective. The regulator said the prohibition is designed to ensure financial stability is maintained within the economic bloc. COBAC to Set Up System to Identify Crypto
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