US Treasury seeks to tighten nonbank rules following banking crisis

Janet Yellen called for further regulation of nonbank institutions, claiming they pose a systemic risk to U.S. financial stability.

175 +

Bank profits at risk from potential CBDC transformation of global economy: Moody’s

CBDCs are here to stay, it seems, and Moody’s is looking at their implications for the global economy and international banking.

149 +

Bitcoin Price Will Hit $50,000 In Under A Year, This Economist Says

Bitcoin price could see a boost amid a widespread financial crisis that has already led to the collapse of several banking giants and put many others at risk, according to Raoul Pal, Real Vision CEO and a former hedge fund manager.

258 +

Australian Banking Association’s cost of living inquiry reveals bank pressure

An analysis of the rising inflation and concurrent collapse of Silicon Valley Bank proved that more than 186 banks in the U.S. are at risk of a similar shutdown if depositors decide to withdraw all funds.

320 +

New EU Banking Regulation Assigns Highest Risk Score to Crypto

EU regulators want banks to assign crypto a risk score of 1250% and disclose crypto exposures according to MiCA definitions. The post New EU Banking Regulation Assigns Highest Risk Score to Crypto appeared first on BeInCrypto.

228 +

Approach with caution: US banking regulator’s crypto warning

The Office of the Comptroller of the Currency (OCC) said the digital asset industry was maturing but was “not yet robust” in its risk management.

89 +

The cryptocurrency market meltdown is akin to the 2008 financial crisis

Almost 15 years have passed since the financial crisis of 2008. The crash affected various sectors of the economy, such as banking and real estate. Cryptocurrency investors are now at risk of experiencing a similar situation. Is the 2008 nightmare…

189 +

Santander UK Bank Puts Monthly Limit On Transactions To Crypto Exchanges

Santander UK has put a per transaction limit as well as a total monthly restriction on the amount that users can transfer to crypto exchanges. Santander UK Bank Says Investing In Crypto Can Be High Risk The United Kingdom branch of the banking giant Banco Santander yesterday posted a notification for its customers, where it […]

212 +

Bank With Crypto Companies at Own Risk, Warns Fed Top Regulator

The interconnection between crypto companies during the market downturn over the past year highlighted the potential risks for banking organizations that become involved with them. The post Bank With Crypto Companies at Own Risk, Warns Fed Top Regulator appeared first on BeInCrypto.

169 +

South African Reserve Bank encourages friendly behavior with crypto

The banking authority said avoiding risk by cutting off crypto-involved clients may pose a “threat” to financial integrity.

137 +

EU regulators: Be ready to lose all your money in crypto

Consumers risk losing all their money invested in cryptoassets and could fall prey to scams, the European Union’s securities, banking, and insurance watchdogs said in a joint statement (pdf).

268 +

Russian Banks at Risk of Collapse

234 +

Major US Banking Regulators Finish “Policy Print” and Release 2022 Crypto Roadmap

Top US banking regulator said on Tuesday that banks must seek and obtain written permission from their bank supervisors before engaging in cryptocurrencies. The Office of the Comptroller of the Currency said that before taking on activities like providing custody services for crypto assets, banks must demonstrate they have appropriate risk management tools.

246 +

Biggest U.S. And European Banks Oppose Basel’s New Strict Bitcoin Rules

JPMorgan, Deutsche Bank, and other world-leading banks have opposed new banking regulations that would force them to match one dollar in capital for every dollar of bitcoin they hold. Banks are traditionally required by Basel rules to assign risk weightings to different kinds of assets they own.

268 +

Crypto Exchanges in India Struggle with Limited Banking Access

Shunned by commercial banks, Indian crypto exchanges are dealing with major operational hurdles amid a lack of clear-cut regulations by the government. Peer-to-peer trading remains the order of the day and exchange operators say the risk of fraud in alternative trading rails remains high.

254 +

Basel Committee Insists Banks Must Prepare Enough Cash to Cover Losses on Bitcoin: Details

Basel banking regulator orders bank to prepare to cover losses on Bitcoin in full, puts BTC in the highest risk category

189 +

Report: Banking Giant Natwest to Refuse Service to Businesses That Accept Cryptocurrencies

The major retail and commercial financial institution National Westminster Bank (Natwest) has categorized cryptocurrencies as “high risk” and refuses to serve business customers who accept digital assets for payments.

260 +

eToro Appoints Israel’s Former Banking Supervisor as Deputy CEO

April 6 2021 – Global multi-asset investment platform eToro, today announces the appointment of Dr. Hedva Ber as Deputy CEO and Global Chief Operating Officer (COO).   Dr. Ber will lead eToro’s operational infrastructure, corporate governance, compliance and regulatory affairs, legal, risk management and social responsibility.

388 +

eToro appoints Dr. Hedva Ber, Israel’s former Banking Supervisor, as Deputy CEO and Global COO

April 6, 2021 – Global multi-asset investment platform eToro, today announces the appointment of Dr. Hedva Ber as Deputy CEO and Global Chief Operating Officer (COO).  Dr. Ber will lead eToro’s operational infrastructure, corporate governance, compliance and regulatory affairs, legal, risk management, and social responsibility.

171 +

Celsius strengthens its executive leadership team with key hires from big banking

 Celsius, the industry-leading cryptocurrency rewards-earning platform, announces Rodney Sunada-Wong as Chief Risk Officer and Vijay Konduru as Chief Marketing Officer and Head of Analytics. Reaching a milestone of over $10...

231 +

Hackers Increasingly Rely on Trojans to Deploy Ransomware Attacks

Kroll’s Cyber Risk team has detected a growing trend in the use of banking trojans to launch ransomware attacks.

242 +

Gamble With Crypto at Bestecasinobonussen.nl

The advancements in the IT industry allowed for banking methods like Bitcoin to thrive in the online casino market, offering online casino goers the possibility to make their deposits in the most convenient way without the risk of exposing any of their financial information to unwanted third parties.

227 +

What Quantum Finance Means for Bitcoin

Quantum computing could allow banks to more accurately quantify their risk, opening additional opportunities to invest in Bitcoin. Some of the biggest names in banking have confirmed they’re targeting research investment into the nascent field of quantum finance.

188 +

Here’s a New Banking Tool for Vetting Crypto Exchanges

The blockchain forensics firm is now offering banks a product that aims to provide up-to-date risk profiles of more than 200 of the largest crypto exchanges around the world.

193 +

Ex-Goldman Sachs Warns Crypto Investors to Not Make the Same Mistake The Banking Giant Did In 2003

Are you still crazily optimistic about Bitcoin? If not then this could put a long term growth risk on the cryptocurrency industry, according to Spartan Black, a partner at blockchain advisory and investment firm The Spartan Group.

138 +

PayPal Joins $4.2M Round for Crypto Banking Compliance Startup

Reddit founder Alexis Ohanian’s Initialized Capital, Blockchain Capital and PayPal Ventures are backing TRM Labs in its effort to help financial firms manage crypto risk.

151 +

Indian Customers Risk Losing Their Cash To A Failing Banking System

Nearly one million Indian bank customers cannot access their cash they deposited to their bank. The incident was just a proof of how the banking system is experiencing shortcomings and the improvements that could be made if crypto was given the opportunity.

203 +

Risk Management Framework for Global Banks to Apply for Crypto

The Basel Committee on Banking Supervision is one of the most important regulators for global banking standards. As per the Basel III norms, set by the committee in the wake of the 2008 financial crisis, banks are supposed to hold a requisite amount of liquid capital based on the risk of their lending portfolio andRead MoreRead More.

244 +

Banks At Risk of Extinction Shows Why The World Needs Bitcoin

Bitcoin was designed to remove the monopoly banks have over the world’s wealth and put the control back into the hands of individuals, among many other reasons. A new, damning report on the weakness of the banking industry serves as a powerful example as to why the world needs Bitcoin.

212 +

The EU Needs to Launch a Cryptocurrency, Says deVere CEO Nigel Green

Nigel Green, CEO of deVere Group — a global financial advisory company, says the European Union needs to seriously consider cryptocurrency adoption per a report by IT-Online. Meanwhile, banking giants across the globe are beginning to shift from an anti-crypto stance towards developing their own blockchain-based business solutions.

232 +

Swiss regulator approves banking license for crypto banks; updated KYC AML rules follow

As crypto businesses have started to make the move into crypto-friendly geographies to avoid risk of shutting down, Switzerland made headlines on the other side of this spectrum by announcing banking licenses to two cryptocurrency-focused banks.

176 +

Digital Risk: Managing Risk and Security in Digital Age

Coinspeaker Digital Risk: Managing Risk and Security in Digital AgeWe invite you to join the most compelling dialogue in the Banking and Payments industry at Digital Risk: Managing Risk and Security in the Digital Age meeting in November 2019 in London.

145 +

Neutro ICO

The Neutro Protocol solves the trilemma of scalability, security and decentralization, allows for anonymous transactions and eradicates the need for centralized oracles. Neutro users can create a decentralized version of almost any real-world market that exists now only in a centralized system that we all use currently.

320 +

In Light of Tether’s Fractional Reserve, a Shadow of Fiatcoins’ Future

Tether has taken a lot of heat for admitting it is running a fractional reserve. There’s no doubt that Tether’s unregulated nature makes this approach risky and that its lack of transparency is unsettling, but the entire modern banking system is architected on fractioned assets.

1198 +

Bitfinex, Attorney General Legal Sparring Continues With New Court Filings

Bitfinex and the New York Attorney General’s (NYAG) legal sparring in relation to $850 million in missing funds escalated with another round of court filings this past weekend.

478 +

“Holders Are Not at Risk”: Bitfinex Lawyer Responds to NY Attorney General

Bitfinex and Tether’s legal counsel has written a response to the New York Attorney General’s (NYAG) ex parte order, which claims that Bitifinex used Tether’s reserves to cover some $850 million in losses.

496 +

FEMA Data Breach Exposes Private Data of Nearly 3 Million Individuals

A data breach has occurred within the Federal Emergency Management Agency (FEMA), resulting in the private data of nearly three million disaster victims being shared with an unnamed contractor. Who’s at Risk? The shared information includes home addresses, social security numbers and banking information for victims of U.

200 +

Israeli Court Rules Against One-Size-Fits-All Bitcoin Ban by Bank

An Israeli court ruled on March 17, 2019, that banks can't enforce a blanket ban against all accounts linked to cryptocurrency. Instead, the court said, banks need to consider the specific type and scope of crypto-related activity before determining whether or not to open an account.

264 +

Global Banking Standard Setter Admits Bitcoin and Crypto are a Risk to Banks

A group of international banking authorities, the Basel Committee on Banking Supervision, which is part of the Bank of International Settlements (BIS), has issued a statement on the current situation of the cryptocurrency market.

194 +

Basel Committee: Growth of Bitcoin is a Bad Sign For Global Banking System

The growth of crypto assets like bitcoin is a bad sign for the global banking system, warned the Basel Committee. The banking supervision forum said that crypto assets had become popular despite exhibiting a high degree of volatility and risk.

170 +

Bloomberg Editor Says JPMorgan’s Cryptocurrency Will ‘Obliterate’ Ripple; is XRP in Trouble?

On February 14, JPMorgan, the $340 billion banking giant, launched a stablecoin called JPM Coin. Industry experts foresee the stablecoin thrashing Ripple and its cryptocurrency XRP in the long run.

210 +

Crypto Firms Flock to Estonia: Is the Country’s E-Residency Program a Giant Loophole for Money-Laundering?

Estonia’s e-Residency program allows location-independent non-citizens and firms to access services such as banking digitally. Cryptocurrency firms have particularly embraced the program warmly with around 600 of them estimated to be registered there currently.

173 +

French Crypto Startup Disappears after Failed ICO, Leaves Unanswered Questions

After failing to raise the necessary funds from its ICO for its September 2018 launch, French crypto banking Startup Hush has vanished without a word. Social media accounts of founders have been deleted, and no further updates have been made available.

216 +

Swiss Regulator Instructs Banks to Assign 800 Percent Market Value Risk Weighting to Cryptoassets

The Swiss Financial Market Supervisory Authority (FINMA) has instructed banks in the country who handle cryptocurrency to weight cryptoassets at eight times their market value when calculating loss-absorbing capital.

190 +

As Tether’s Peg Slips, Bitcoin Price Is Distorted Across Market

Tether’s peg is slipping, and an exchange-wide firesale has led to major price discrepancies between bitcoin’s BTC/USDT and BTC/USD trading pairs across the market.

822 +

Bitcoin Is Too Eccentric For Traditional Banks

The crypto world seems to be on a different planet to the regular banking world. The companies behind the various digital currencies and their products are almost out of a futuristic science fiction movie.

296 +

With the CBAC, East Meets West in Search of Adoption and Innovation

The noise that surrounds economic relations between the United States and China is amping up exponentially. You can thank the latest trade wars for that, as fresh tensions boil over between the two nations who are currently trading new tariffs on imports, with no shortage of ill will underpinning the moves.

770 +

Banks Could Spell The End Of Bitcoin Just As They Spelled Its Boom

The economic crisis of 2008 brought the world’s attention to the need for an alternative means of doing business without much risk of a backlash, and that’s why Bitcoin received so much support when the pioneer cryptocurrency entered the market in 2009.

175 +

In Search of Stability: An Overview of the Budding Stablecoin Ecosystem

Stability. The word seems to be at complete odds with the current nature of the crypto market. With its flagship coin having “died” on hundreds of occasions, volatility and meteoric price swings have come to define cryptocurrencies, as price stability, ever-elusive, is in short supply.

1472 +