Cogent Bank, a Florida-based, state-chartered bank with more than $1 billion in total assets, proposed borrowing up to $100 million in DAI stablecoin from Maker and would have used the funds to extend loans to its corporate and industrial clients, according to the MIP-95 proposal posted on Maker’s governance forum.
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Despite the scare from regulators, many still attest to the fact that the crypto market will play a crucial role in the future of finance.
American trading bourse, the IEX Exchange is looking to launch a digital currency trading platform in partnership with publicly traded industry leader, Coinbase Global Inc CoinbaseCryptoExchangeFloatIEXOutfitRegulated Read More
Most cryptocurrencies are likely to be regulated as securities in the United States according to the CEO of Intercontinental Exchange Inc (ICE), Jeffrey Sprecher, and Senator Elizabeth Warren. The renewed focus on regulating cryptocurrencies as securities comes in light of FTX’s recent implosion, which wiped countless billions from the market, BossCryptoICERegulatedSecuritiesSenatorWarren Read More
Cryptocurrency exchange Binance plans to reenter the Japanese market after acquiring a 100% stake in a licensed crypto service provider in the country, Cryptox Japan reported.In an official public announcement on Nov. 30, Binance CEO Changpeng Zhao said the crypto exchange was committed to re-entering the Japanese market under regulatory AcquiresBinanceCryptoExchangeJapanRegulated Read More
Binance bought Sakura Exchange BitCoin (SEBC), a Japanese crypto exchange regulated by the country's Financial Services Agency (FSA), for an undisclosed amount.
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Stablecoins are tokens backed by an asset, or a basket of assets, and pegged to fiat currency, such as the U.S. dollar. They serve as an entryway to the crypto market for traditional market participants and are extensively used within the ecosystem as instruments for trading, borrowing, and lending.
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Costa Rica could be one of the next countries to adopt bitcoin as a regulated payment method. This week, Congresswoman Johana Obando introduced a bill to allow bitcoin and other cryptocurrencies to serve as a form of payment. The bill also proposes that traditional banking institutions be able to serve BitcoinCostaCountrycryptoexchangeCurrencyEmergingEstablishExchangesMarketsNewsRegulatedRica Read More
The House of Commons, the Parliament's lower house, met on Tuesday for a line-by-line reading of the proposed Financial Services and Markets Bill, which broadly covers the U.K.'s post-Brexit economic strategy. The lawmakers considered a list of proposed amendments to the bill, including one put forward by parliamentarian Andrew Griffith CryptoFinancialInstrumentsLawmakersRecognizeRegulatedVote Read More
"The amendments enable the Treasury and FCA [Financial Conduct Authority] to introduce a full regulatory regime for crypto, a hugely positive step," Nicholas Taylor, head of public policy at crypto exchange Luno told CryptoX in an emailed statement. Luno is owned by CryptoX's parent company, the Digital Currency Group.
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Cryptocurrency adoption continues growing in the Kingdom of Bahrain, with local companies enabling payments in crypto like Bitcoin (BTC).EazyPay, an online payment platform regulated by the Central Bank of Bahrain (CBB), has partnered with Binance Pay to enable crypto payments in the country, EazyPay CEO and founder Nayef Tawfiq Al BahrainBinanceBitcoinCryptocryptoexchangeEnablesExchangesFinTechPaymentsRegulated Read More