There’s a New Platform for Bitcoin-Backed Borrowing and It’s Courting Banks to Lend
There’s a New Platform for Bitcoin-Backed Borrowing and It’s Courting Banks to Lend Original Source
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Banks
Miami Trio Charged With Defrauding Banks and Crypto Exchange of Over $4M
Authorities arrested Esteban Cabrera Da Corte, Luis Hernandez Gonzalez and Asdrubal Ramirez Meza Tuesday morning, alleging the group used stolen identities to purchase millions in cryptocurrencies on a “Cryptocurrency Exchange,” in 2020. The purchases were funded with bank transfers, and after buying the crypto, the men disputed the transactions with
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Crypto Banks Are One Step Closer to Reality Under New Fed Guidance
After over a year, the Federal Reserve published final guidance detailing how it will assess reserve account applications from banks, ranging from federally supervised entities with deposit insurance to novel financial institutions with state charters. That’s right, folks, we’re talking about Wyoming’s Special Purpose Depository Institutions (SPDI). Original Source
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Indian Central Bank Governor Said That the Bank’s Warnings Pushed People to Stay Away From Crypto
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a
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United Texas Bank CEO wants to ‘limit the issuance of US dollar-backed stablecoins to banks’
Scott Beck, chief executive officer of United Texas Bank, called on members of the state’s blockchain working group to recommend policy for leaving stablecoins to banks rather than crypto firms.Speaking before the Texas Work Group on Blockchain Matters in Austin on Friday, Beck suggested limiting the issuance of U.S. dollar-backed
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South Africa’s Monetary Authority Greenlights Banks to Serve Crypto Clients
The guidance was released after some local banks previously moved to shut down accounts tied to crypto exchanges, citing exposures to risk. In the published document, the SARB said it was aware that certain banks in the country have opted to block clients with links to crypto. It added that,
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EU Lawmakers Seek to Cap Banks’ Bitcoin Holdings
“An institution’s total exposure to class 2 crypto-asset exposures must not be higher than 1% of the institution’s Tier 1 capital at all times,” said the proposal backed by the Finnish Member of the European Parliament, imposing an absolute limit on how much bitcoin regulated lenders can hold. Tier 1
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US Regulator ‘Improperly’ Pushing Banks to Avoid Serving Crypto Companies, Lawmaker Says
"According to whistleblower communications that we have corroborated, personnel in the FDIC’s Washington, D.C. headquarters are urging FDIC regional offices to send letters to multiple banks requesting that they refrain from expanding relationships with crypto-related companies, without providing any legal basis for sending such letters," Toomey wrote. "... As I
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Fed Reminds Banks to Check for Legal Permissibility Before Offering Crypto-Related Services
The Federal Reserve published an open letter Tuesday, signed by Director of Supervision and Regulation Michael Gibson and Director of Consumer and Community Affairs Eric Belsky, directing Fed-supervised banks to make sure they check that any crypto-related activities they want to undertake are legally allowed first. Source
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Korean regulators investigate banks over $6.5B tied to Kimchi premium
South Korean banks are being investigated for their role in facilitating $6.5 billion in suspicious overseas remittances which have been tied to companies arbitraging cryptocurrency. According to an Aug. 15 report from Asia Times, the Financial Supervisory Service (FSS) ordered an investigation into South Korean banks last month after identifying a
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