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United Kingdom babanks HSBC Holdings and Nationwide Building Society are banning cryptocurrency purchases via credit cards for retail customers. They join a growing list of banks in the country to tighten restrictions on digital assets. A Bloomberg report on March 2 claims the step back is a response to warnings by
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Japanese banks Tokyo Kiraboshi Financial Group, The Shikoku Bank, and Minna no Bank are reportedly launching a stablecoin to enhance payments. Three Japanese banks are planning a stablecoin experiment toward implementing a payment system that satisfies legal requirements. According to a press statement released Thursday, the involved banks are Tokyo Kiraboshi Financial
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Around 20% of banks have exposure to crypto assets, a Bank for International Settlements (BIS) report released Feb. 28 found. The majority of those banks are in the Western Hemisphere. According to the report, which is based on data from the first half of 2022, 17 Group 1 banks reported approximately
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In spite of turbulence in traditional global finance, with BRICS nations said to be pushing for de-dollarization and major banks like Bank of America and Goldman Sachs predicting further interest rate hikes from the U.S. Federal Reserve, creativity in crypto has found a new boon in the form of controversial
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The United States Federal Reserve has denied a request from cryptocurrency bank Custodia Bank to reconsider its membership application to the Federal Reserve System.The Fed announced its denial on Feb. 23 saying the Federal Reserve Board previously decided that Custodia’s application “was inconsistent with the required factors under the law.”@federalreserve
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The Federal Reserve and other U.S. banking agencies are warning banks that crypto poses significant liquidity dangers, according to a joint statement issued Thursday, further reinforcing their campaign to generally steer lenders away from digital assets. Source
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General manager of the Bank for International Settlements Agustín Carstens spoke at the Singapore FinTech Festival on Feb. 22 and described the digital financial infrastructure he believes would best suit central bankers’ needs. He called that infrastructure a “unified ledger.”Carstens compared the theoretical unified ledger with a smartphone, saying they
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The Lebanese pound’s fall to its lowest ever versus the U.S. dollar, 80,000 to 1, has piled more misery on residents whose local currency-denominated savings have been decimated by inflation. The ongoing strike by banks demanding the passage of capital control legislation has compounded matters for residents. Lebanese Pound Devaluation According to
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The regulations could also include required provisions on Bitcoin, stablecoins, and other crypto assets. The European Union (EU) Executive is calling for accelerated implementation of strict crypto capital rules for financial institutions with crypto assets in the awaiting banking law. The executive emphasized the approaching deadline agreed upon, adding that Europe
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