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In the meantime, “banks will be required to hold a euro of own capital for every euro they hold in crypto," Markus Ferber, the economic spokesperson for the parliament's largest political grouping, said in a statement. “Such prohibitive capital requirements will help prevent instability in the crypto world from spilling
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With just a few days left before old Nigerian naira banknotes are removed from circulation, some banks have accused the Central Bank of Nigeria of failing to distribute enough new banknotes. Despite growing pressure for it to extend the period for returning the old notes, the central bank insists the
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There is no law that bans U.S. banks from issuing paper or digital private banknotes, American Institute for Economic Research economist Thomas Hogan argues. Source
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The amendments to the package, which is designed to ensure that traditional institutions issue enough capital to sustain lending levels, are set to be voted on by EU Parliament’s Committee on Economic and Monetary Affairs on Tuesday. The text seen by CryptoX asks the European Commission to propose a bill
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A host of big banks in America are collaborating on a payment wallet to facilitate debit & credit-driven online retail transactions. Several big American banks are reportedly planning a payment wallet to facilitate online shopping. These banks include Wells Fargo (NYSE: WFC), Bank of America (NYSE: BAC), JPMorgan Chase (NYSE: JPM), and four other financial institutions. According to the
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The United States Federal Home Loan Banks System (FHLB) is lending billions of dollars to two of the largest cryptocurrency banks in an effort to mitigate the effects of a surge in withdrawals, according to a report from The Wall Street Journal on Jan. 21. The FHLB is a consortium of
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Silvergate Bank noted that they have initiated action to maintain the cash liquidity including the selling of debt securities and wholesale funding.Since the collapse of the crypto exchange FTX, crypto bank Silvergate Capital has come under major fire. As per the latest report, the Silvergate crypto bank has attributed $1
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Financial regulators in Japan have urged global regulators to treat crypto the same way as they do banking, calling for tougher rules for the sector.According to the deputy director-general of the Financial Services Agency’s Strategy Development and Management Bureau, Mamoru Yanase, crypto needs to be controlled.“If you like to implement
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Bradesco, one of the largest banks in Brazil and the third biggest in all of Latam, has entered the cryptocurrency world by issuing its first tokenized credit notes. The operation, carried out in partnership with Bolsa OTC, tokenized almost $2 million in bank credit notes, which were also distributed by
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Bank of Thailand (BOT) has disclosed plans to allow virtual banks to operate in the country for the first time. Financial firms will be able to provide services by 2025, a Bloomberg report shows. The ‘Consultation Paper on Virtual Bank Licensing Framework’ has been published by the central bank, and applications
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