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Crypto exchange Binance has removed “yellow” and “green” payment options from its peer-to-peer (P2P) service after being criticized for using these code words to represent sanctioned Russian banks, Cointelegraph confirmed on Aug. 25.Payment method searches for color-themed code words result in no hits. Source: BinanceBinance’s peer-to-peer exchange service is a
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“When gaps are pointed out to us, we seek to address and remediate them as soon as possible. In line with our ongoing commitments, payment methods on the Binance P2P platform that do not fit with our compliance policies are not available on our platform," a Binance spokesperson told CryptoX. Source
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The CEO of Australian crypto exchange Independent Reserve says it has turned to payments giant PayPal to hedge against increasing bank restrictions against crypto exchange payments.The exchange has partnered with PayPal to enable an on-ramp that will give Independent Reserve’s customers the ability to fund their crypto accounts directly with
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Binance’s peer-to-peer (P2P) cryptocurrency exchange in Russia has continued facilitating transactions through sanctioned banks like Rosbank after denying relationships with “any banks.”On Aug. 23, multiple local news sources reported that Binance P2P has renamed some of its troubled payment options for withdrawals and deposits, namely the sanctioned Russian banks like
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Two private banks in Uzbekistan — Kapital Bank and Ravnaq Bank — acquired approval from the National Agency for Perspective Projects (NAPP) to participate in the digital sandbox of crypto regulation. The banks will issue plastic crypto cards powered by Mastercard.On August 14, the NAPP reported the approval for Ravnaq Bank
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Crypto-assets and their related activities present key risks to the United States banking system and warrant closer supervision, warns a leading U.S. financial regulator. For the first time, cryptocurrency was given a dedicated section in the Federal Deposit Insurance Corporation’s (FDIC) annual risk review, calling digital asset risks “novel and
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The central bank of Russia is preparing to pilot the digital ruble, the country’s central bank digital currency (CBDC). Starting on Aug. 15, the test will aim to evaluate the feasibility and functionality of a digital rendition of the
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The United States Federal Reserve is broadening the scope of its supervision program which oversees U.S. banks that engage with the cryptocurrency and blockchain industry. An Aug. 8 announcement by the Federal Reserve Board established the Novel Activities Supervision Program which aims to limit certain crypto-related activities and facilitate a
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Back then, most central banks, including the Fed, were pumping record amounts of money into the system through zero interest rate policy and unlimited bond buying to help the global economy absorb the shock from the coronavirus pandemic. They are unlikely to revert to the ultra-easy policy in the near
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James Wallis said the decision that Ripple's sale of XRP did not constitute investment contracts was a major victory, not just for Ripple but also for the industry. Original Source
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