Speculative, risky: Irish Central Bank bars retail funds from investing in cryptos

The Irish Central Bank has made some glaring statements regarding cryptocurrency investments in a report published on Tuesday, that could potentially effect the way retail investors engage with the inThe post Speculative, risky: Irish Central Bank bars retail funds from investing in cryptos appeared first on AMBCrypto.

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Russia: Govt, top bank see cryptos as 'analogue of currencies'; release draft bill soon

After months of speculation and opposing debates, Russia has surprised the cryptocurrency industry by agreeing to recognize Bitcoin as currency. This comes after the Russian government and central banThe post Russia: Govt, top bank see cryptos as 'analogue of currencies'; release draft bill soon appeared first on AMBCrypto.

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Russia: Crypto traders might soon have to take a 'test to prove qualification'

Despite the Bank of Russia's unwavering position on cryptos, authorities have instead agreed to regulate the sector by drawing a 'roadmap.' As per a report by a local paper, the roadmap might requiThe post Russia: Crypto traders might soon have to take a 'test to prove qualification' appeared first on AMBCrypto.

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$67B in cryptos, but does that figure change Russia's mind about crypto-investments

Russia's cryptocurrency sector is going through a tumultuous time right now, with the Central Bank of Russia (CBR) doubling down on its efforts to crack down on cryptos in an effort to push its DigitaThe post $67B in cryptos, but does that figure change Russia's mind about crypto-investments appeared first on AMBCrypto.

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'We are definitely almost there,' Zimbabwe’s central bank governor on CBDC

Zimbabwe’s central bank Governor John Mangudya said in a recent interview, that the country is looking at a digital currency backed by the regulator at the moment, rather than cryptos like Bitcoin.

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India's WazirX opens account with country's third-largest pvt. sector bank

India's regulatory woes pertaining to cryptos now seem to be easing a little, despite the absence of a clear consensus. Regardless, the threat of private cryptocurrencies being banned has stalled for The post India's WazirX opens account with country's third-largest pvt. sector bank appeared first on AMBCrypto.

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Bank of Canada’s Paul Beaudry says cryptos don’t threaten the economy

Paul Beaudry, the Deputy Governor of the Bank of Canada, believes the crypto space does not pose a significant threat to the financial system, at least not at the moment. He shared his thoughts on the matter during the Ontario Securities Commission Dialogue 2021 on November 23.

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Bank of England's Governor takes issue with cryptos' use for 'illegal activity'

Bank of England Governor Andrew Bailey is in the news today after he raised concerns about crypto-assets potentially helping illegal activity. According to reports, he claimed that its widespread accThe post Bank of England's Governor takes issue with cryptos' use for 'illegal activity' appeared first on AMBCrypto.

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Australia’s Largest Bank to Allow its 6.5 Million Users to Buy, Sell, & Hold 10 Cryptocurrencies via its App

BTC, ETH, LINK, UNI, COMP, AAVE, MATIC, and other cryptos are allowed for now, with CBA planning to offer shopping with crypto next year. The post Australia’s Largest Bank to Allow its 6.5 Million Users to Buy, Sell, & Hold 10 Cryptocurrencies via its App first appeared on BitcoinExchangeGuide.

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U.S. Mega Bank Sets Up Bitcoin Custody Service, With Other Cryptos To Follow

U. S. banks have been taking the plunge into crypto. The rising popularity of the crypto market has seen more demand from banks’ customers for more exposure and although banks are prohibited from directly maintaining self-custody of cryptocurrencies, they are turning to third-party solutions to gain exposure.

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PBOC Tries to Grapple with Overseas OTC Bitcoin Markets

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HSBC CEO Supports CBDC Development, While Being Skeptical About Cryptos and Stablecoins

The CEO of HSBC, a British investment bank and one of Europe’s largest banks, Noel Quinn, has shown support for the development of central bank digital currencies (CBDC) while maintaining a skeptical attitude towards stablecoins and cryptocurrencies.

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HSBC CEO supports CBDCs while bashing cryptos and stablecoins

HSBC Group, the largest bank in Europe, has taken a negative stance on cryptos while backing the development of central bank digital currencies (CBDCs). The bank’s CEO, Noel Quinn, wrote an article, in which disclosed the bank’s devotion to supporting the development of a CBDC.

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‘Cryptos are Not Currencies,’ Says ECB’s Lagarde

European Central Bank (ECB) President Christine Lagarde recently emphasized that cryptocurrencies are not actually currencies, but “highly speculative assets.” The post ‘Cryptos are Not Currencies,’ Says ECB’s Lagarde appeared first on BeInCrypto.

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Former IMF exec: 'I am not going to say Bitcoin is going to implode tomorrow'

The Indian central bank has always been particularly wary of the cryptocurrency industry. According to former Reserve Bank of India Governor Raghuram Rajan, however, cryptos definitely have a "potentiThe post Former IMF exec: 'I am not going to say Bitcoin is going to implode tomorrow' appeared first on AMBCrypto.

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Banks Prepare For Bitcoin Adoption

Banks are seemingly preparing for a bitcoin world where digital currencies – whether central bank ones, private market issued, or cryptos – become ubiquitous. The announcement by JP Morgan that...

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You Wouldn’t Need Crypto If You Have CBDC; ECB & Fed Selling Their Digital Fiat As Better Than Bitcoin

Federal Reserve Chairman Jerome Powell on Wednesday came out strongly supporting a digital dollar, saying it could undercut the need for cryptocurrencies and stablecoins. When asked during the congressional hearing if having a digital currency issued by the central bank would be a more viable alternative than cryptos in the payments system, Powell agreed and […] The post You Wouldn’t Need Crypto If You Have CBDC; ECB & Fed Selling Their Digital Fiat As Better Than Bitcoin first appeared on BitcoinExchangeGuide.

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BOE’s Jon Cunliffe says cryptos are not yet a threat to financial stability

Jon Cunliffe, the Deputy Governor of the Bank of England (BoE), has come out to disclose that cryptocurrencies do not pose an immediate threat to financial stability. Cunliffe unveiled this news during an interview on July 14, saying the crypto sector is not big enough to pose a systemic risk to the global financial system.

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Israel’s New President Sworn in with an NFT, Ministry of Defense Orders Seizure of Crypto Wallets

The Bank of Israel Deputy Governor is also more concerned about financial stability, citing the rush to cryptos than inflation as such “enough reasons to be patient” with monetary policy and to allow it to be accommodative enough to continue to support the economy.

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Future of Digital Yen to Gain Clarity in 2022; CBDC Has Potential to Reshape Japan’s Financial Industry

Japan's Central Bank could issue its central bank digital currency (CBDC) by the end of next year. This was made known by Hideki Murai, who runs the Liberal Democratic Party's panel on cryptos.

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JPMorgan is bullish on crypto staking ahead of ETH 2.0 launch

Analysts at US bank JPMorgan foresee staking to become a multi-billion market as environmental concerns come into play for top cryptos like Bitcoin, they wrote in a recent report to clients. The post JPMorgan is bullish on crypto staking ahead of ETH 2.0 launch appeared first on CryptoSlate.

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Denmark’s Danske bank open to reviewing position on 'partially regulated' cryptos

While cryptocurrencies previously stood at the fringe of the payments space, 2021 saw institutional interest increase as governments and banks invested heavily in the space. The crypto-community saw aThe post Denmark’s Danske bank open to reviewing position on 'partially regulated' cryptos appeared first on AMBCrypto.

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Bitcoin And Cryptos Are “Dangerous” And “Could Be Worth Nothing”, Bank Of England Boss Bailey Warns

Andrew Bailey, the Bank of England governor has said that the bank is focusing on stable coins which are backed by real-world assets and not on other crypto-assets which are “dangerous” and “could be worth nothing.

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Irish Central Bank official says cryptos like Bitcoin are a ‘great concern’

Derville Rowland, Ireland Central Bank’s Director-General for Financial Conduct, said in an interview with Bloomberg today that cryptocurrencies such as Bitcoin are “of great concern. ” The bank’s official also addressed crypto investors saying “crypto-assets are quite a speculative, unregulated investment,” warning them to be “really aware they could lose the whole of that investment.

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Tech Giants ‘Invading the Currency Area’ Are The Real Threat, Not Crypto: Denmark’s Central Bank Governor

While Lars Rohde doesn’t see Bitcoin as more than a speculative fad, neighboring Sweden’s Riksbank First Deputy Governor, though “observant,” is not concerned about cryptos. The post Tech Giants ‘Invading the Currency Area’ Are The Real Threat, Not Crypto: Denmark’s Central Bank Governor first appeared on BitcoinExchangeGuide.

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Cowen Investment Raises $46 Million to Buy Bitcoin and Cryptos

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Goldman Sachs Reconsiders Cryptocurrencies as an Asset Class

A forthcoming report from the investment bank shows that cryptos have performed strongly this… The post Goldman Sachs Reconsiders Cryptocurrencies as an Asset Class appeared first on Coin Journal.

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Survey: 14% of Russians Think Cryptocurrencies Will Oust Fiat in 10 Years

A new survey revealed the different stances of Russians toward cryptocurrencies and fiat currency. Specifically, some of the respondents believe digital assets will replace fiat in ten years. Residents in Moscow Believe Cryptos Will Replace Fiat, While Others Are Skeptical According to Nord News, the research was conducted by Otkritie Bank, a Moscow-based financial institution […]

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Nigeria’s SEC says central bank’s crypto ban disrupted the market

The Securities and Exchange Commission of Nigeria says it is working with the central bank to create a legal framework for cryptos and digital assets.

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How to Choose and Use a Crypto Wallet

Cryptocurrencies have been “a thing” since the inception of Bitcoin, more than a decade ago. It’s clear that cryptos and the blockchain are here to stay. Unlike fiat (non-digital) money, cryptocurrencies aren’t stored in bank accounts or in any physical manner, at least not in any commonly-known sense.

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India's central bank claims govt. shares its 'major concerns' about cryptos

Indian government and regulators have been trying to take a firm position on the use and supply of cryptocurrencies in the country. Even though the Finance Minister of the country, Nirmala Sitharaman,The post India's central bank claims govt.

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Nigeria’s Central Bank Okays Peer-to-Peer Bitcoin Trading 

The Central Bank of Nigeria (CBN) has clarified its stance towards bitcoin (BTC) and other cryptocurrencies, making it clear that crypto traders in the country are free to carry out their operations on a peer-to-peer basis, as its ban did not outlaw the use of cryptos, but it’s rather an effort to protect lenders underRead More

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Central Bank of Nigeria Official Reiterates Nigerian Residents Free to Trade Cryptos: Directive Only Applies to Banking Sector

A senior executive with Nigeria’s central bank, Adamu Lamtek, has reportedly denied that his institution had placed restrictions on the use of cryptocurrencies. Instead, Lamtek, who is the deputy governor responsible for corporates services at the Central Bank of Nigeria (CBN), says his organisation’s directive only applies to the banking sector. Prohibition Only Applies to […]

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177-Year-Old Swiss Bank Bordier to Offer Bitcoin and Other Crypto Trading Services

A 177-year-old bank in Switzerland has enabled cryptocurrency trading within its services, with expectations to expand. Bordier & Cie SCmA added bitcoin and other cryptos to its list of services by partnering with a well-known domestic crypto player.

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Nigeria’s SEC on Bitcoin: “The World Cannot Be Moving Forward and We Will Be Static”

Pressure is mounting on Nigeria’s central bank (CBN) after it suddenly announced a blockade on cryptos with it now stating they’re going to commence market research in collaboration with Nigeria’s...

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Nigeria: IMF voices support for central bank's decision on cryptos

Thanks to the exponential growth recorded by the cryptocurrency market lately, regulators around the world are realizing that they may have to fast-track the process of issuing guidelines with respectThe post Nigeria: IMF voices support for central bank's decision on cryptos appeared first on AMBCrypto.

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Spanish Treasury Secretary Says Cryptocurrencies Carry a ‘Risk of Default’, Repeats Bank of Spain’s Lack of Regulation Rhetoric

The government of Spain continues to harden its stance against widely adopting cryptocurrencies. The Spanish Secretary of State for the Economy recently expressed her concerns on risks that she thinks cryptos possess for the national economy.

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Cryptos are not the ideal form of digital currencies: BoE Governor

The Bank of England (BoE) Governor believes cryptocurrencies in their original forms are not… The post Cryptos are not the ideal form of digital currencies: BoE Governor appeared first on Coin Journal.

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Kenya's central bank exploring CBDCs due to 'mushrooming' of private cryptos

The Governor of the Central Bank of Kenya told reporters the institution is "already feeling left out."

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Unqualified investors can buy up to $8K of crypto, says Bank of Russia

Russia’s central bank wants to limit the amount of cryptos and digital rights acquired by non-professional investors.

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Top Indian Central Banker Says Cryptos Have a Future But Fears Monopoly

A former chief economist of the IMF said neither private digital currencies nor central bank digital currencies should hold a monopoly.

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FCA Survey Estimates 1.9 Million People Currently Own Cryptocurrencies in the UK

According to a recent survey by the Financial Conduct Authority (FCA), which is working with the Government and the Bank of England, as part of a UK Cryptoassets Taskforce, more and more people are now aware of cryptos and getting into them.

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UK Fintech Bank Revolut Will Give Customers ‘Legal’ Ownership Over Cryptos – But With a Caveat

UK fintech bank Revolut will give its customers legal ownership over their cryptocurrencies next month, but will limit how they can spend those coins.

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Wells Fargo Allegedly Shutters Zelle in Venezuela, Driving Crypto Adoption

Wells Fargo Bank will allegedly cease offering its Venezuelan customers access to the cash transfer service Zelle. The move was made public via Twitter by user @ernestocontrer: So why are @Dashpay and #cryptos welcomed in #Venezuela?Among other things, Venezuelans have almost no options to move our money.

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Private Swiss Bank Rolls Out New Premium Crypto Trading Service

Private Swiss bank Maerki Baumann is offering a new trading and custody service for a handful of cryptos.

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Wyoming Allows Insurance Companies to Invest in Bitcoin and Other Cryptos Starting July 1

Wyoming authorities have taken many positive steps towards the crypto market with its blockchain and crypto custody rules. The state also became the first one to pass a bill that gives direct property rights to cryptocurrency owners and might be seeing a crypto bank soon as well.

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FDIC Urges People to Not Pull Money Out in a Desperate Attempt to Avoid A Bank Run

In the past weeks, investors have fled out of risky assets that resulted in equities, oil, cryptos to even gold and bonds falling in prices. The risky assets along with traditional safe haven assets were left out in favor of cash.

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Reserve Bank of Zimbabwe Drafting Policy Framework to Regulate Digital Currencies

The Reserve Bank of Zimbabwe (RBZ) is interested in regulating digital currencies and has already started drafting a policy framework. This move came weeks after India curbed the ban imposed by the reserve bank of India on banks and financial institutions preventing them from dealing with individuals and businesses dealing with cryptos. Bitcoin has also […]

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Deutsche Bank Claims Cryptos Won’t Replace Cash But Could Be Mainstream in 2 Years

Coinspeaker Deutsche Bank Claims Cryptos Won’t Replace Cash But Could Be Mainstream in 2 YearsAccording to the latest research done by the Deutsche Bank, it is possible that crypto may break into the mainstream financial world in two years as India and China encourage blockchain adoption.

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