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.

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JPMorgan, Deutsche Bank Oppose Strict Basel Rules For Banks Holding Bitcoin

The biggest U.S. and European banks oppose strict new rules that would require them to set aside a dollar in capital for every dollar of bitcoin they own.

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Crypto Market Surpasses $2T, Asset Manager Sees BTC As A “Hedge Against Higher Inflation” While ETH OI Doubles to $8.65B

ADA is now leading past $2 and just 15. 27% away from its peak, with Bitcoin and Ether still 28% and 25. 3% off of their respective ATHs. The dollar is staying firm near its highest level in four months as the Fed sets itself apart from more dovish central banks.

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Cuba’s Central Bank Suspends US Dollar Deposits Nationwide – Officials Cite Embargo ‘Obstacles’

The Republic of Cuba is suspending the use of U. S. dollars due to embargo restrictions with U. S. and foreign banks. The central bank of Cuba’s restrictions stems from the “obstacles that the U.

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Swiss committee proposes banks hold a dollar for every dollar in Bitcoin exposure

Basel regulators said today that banks face the “most risk” from Bitcoin and other cryptocurrencies as they are tools for money laundering and a threat to the broader financial market. The post Swiss committee proposes banks hold a dollar for every dollar in Bitcoin exposure appeared first on CryptoSlate.

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DBS: Bitcoin is ‘potentially a better store of value’ than the dollar

DBS, Singapore’s largest and one of the world’s biggest banks by assets under management, put forward a bullish case for Bitcoin in a client note earlier this week. The post DBS: Bitcoin is ‘potentially a better store of value’ than the dollar appeared first on CryptoSlate.

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Bitcoin Eyes Long-Term Benefits on Central Banks’ Dollar Ditch

If global central banks are any indicator, the bitcoin price can continue its supersonic bull run despite hitting a pause in the past three weeks.

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Fed Is Investing ‘Time and Labor’ As A Digital Dollar is ‘High Priority’ says Chairman Powell

The Federal Reserve is also “committed” to solving the tech problems. Treasury Secretary, unlike her predecessor, also says it “makes sense for central banks to be looking at.” The post Fed Is Investing ‘Time and Labor’ As A Digital Dollar is ‘High Priority’ says Chairman Powell first appeared on BitcoinExchangeGuide.

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Latest Digital Dollar Proposal Spells Trouble for Commercial Banks, Private Citizens

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US Fed Chair Jerome Powell Rules Out The Private Sector in Creation of a Digital Dollar

Jerome Powell, the U.S Fed Reserve Chairman, has said that private entities should not be part of the creation process of a digital dollar. Appearing before the House Financial Services Committee on June 17, the Fed Chair highlighted that monetary policy functions should be left to the central banks regardless of the operating ecosystems. On […]

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Bitcoin-Friendly Top US Banking Regulator Aims to Solve Banks’ Problems With Decentralization

The new top banking regulator for the Trump administration sees “huge and great promise” in cryptocurrency. Focusing on decentralized networks, bitcoin, and rewriting existing regulations, he shares his views on cryptocurrency and the creation of the digital dollar.

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Visa Patent Filing Would Allow Central Banks to Mint Digital Fiat Currencies Using Blockchain

The filing details a way for fiat currencies, like the U.S. dollar, to be turned into a central bank digital currency.

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Bitcoin v. the dollar; Wall Street knows what Main Street doesn't

Who benefits from fiat currencies? The central banks that print them? The commercial bankers who invest them? The business that accepts them? Or the citizens who hold them? While these questions maThe post Bitcoin v.

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Chrono Tech Launches Australian Dollar Stablecoin in Spite of ‘Big Four’ Banks

The man behind the new Aussie dollar stablecoin, said the big four banks were not “allowed” to hold the fiat reserves for the cryptocurrency

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Is A Fed-Controlled Digital Dollar A ‘Win’ For the Public; Will it Pave Way For Faster Payments?

Central banks around the world are assessing the benefits of issuing a state-controlled digital currency after China announced that it is close to launching its digital yuan and Facebook launching Libra.

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‘Central Banking Is Socialism for the 1%’ – Report Cites Wealth Inequality Driven by Stimulus

For a while now, central banks like the Federal Reserve have been participating in quantitative easing (QE) practices, despite the fact they don’t like to call it QE. Following the massive dollar injections, a recent report from the wealth insights provider Wealth-x details the number of wealthy people in the world spiked in 2019.

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Facebook's Libra won't be allowed, even if regulated: Australia's RBA

The Reserve Bank of Australia (RBA) has now confirmed that it is mulling over the digital version of the Australian dollar, a digitized currency commercial banks and other corporates across the countrThe post Facebook's Libra won't be allowed, even if regulated: Australia's RBA appeared first on AMBCrypto.

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Volcker Might Have Said Yes to a Digital Dollar – If He Knew What It Was

What would the late former Federal Reserve Chair Paul Volcker have thought about digital currencies issued by central banks?

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Is Bitcoin Really A Hedge Against The US-China Trade War And Devaluing Yuan?

The trade war between the world’s two biggest economies continues to intensify while China’s yuan remains above the important physiological level 7 at 7.6 against the US dollar on Friday. With central banks around the world making rate cuts and a threat of currency crisis looming, Bitcoin is fast becoming a safe haven asset. According […]

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Bitcoin Boost As JPMorgan Casts Doubt On US Dollar’s Future

Bitcoin challenging the US dollar’s worldwide supremacy seems more likely after it emerged that even the country’s biggest bank thinks the status quo cannot last. Central Banks Amassing Gold ‘Makes Sense’ In a report issued July 10, Craig Cohen, a strategist for JPMorgan Chase, said changing habits among non-US central banks are creating a real sense of unease about the dollar’s long-term status.

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VC Investor: Facebook’s Crypto Has 50% Chance of Ever Launching, Here’s Why

Libra, Facebook’s new crypto and rival to Bitcoin, the dollar, banks, businesses like PayPal, and stablcoins all at once, captured the entire world’s interest yesterday. The crypto industry was divided on whether or not the move would benefit the ecosystem at large, or if it could potentially destroy Bitcoin and altcoins.

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Bitcoin Price to Hit $100,000 in 2019, Time Traveller from 2025 Says

A redditor claiming to be a time traveller from 2025 says Bitcoin will hit $100,000 in 2019 and then…the US dollar and central banks will disappear

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History Shows Reserve Currencies Come & Go, So, Central Banks Stockpile Gold, Is Bitcoin Next On The List?

History Shows Reserve Currencies Come & Go, So, Central Banks Stockpiling Gold, Is Bitcoin Next On The List? Central banks and foreign governments buying gold at the fastest pace in six years US Dollar’s days as a reserve currency are numbered Just a decade old, Digital gold – Bitcoin could emerge as a global reserve […]

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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.

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China Could Push Bitcoin Up As Central Bank Tightens Its Capital Control On US Dollar

China Could Push Bitcoin Up As Central Bank Tightens Its Capital Control On US Dollar According to the latest report by South China Morning Post, Chinese banks have increased their scrutiny of foreign currency withdrawals.

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Central Banks Led by Russia and China Ditching Dollar for Gold Hits Highest Level in Six Years

World Gold Council reports 145.5 tons of gold being bought by central banks in the first quarter of 2019 and further expects this demand to stay strong for the rest of the year. In the first quarter of this year, gold purchases by central banks were the highest in six years as countries ditch the […]

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Nations Continue to De-Dollarise by Hoarding Gold: Is Stockpiling Bitcoin Next?

According to a report by the World Gold Council, central banks have been buying more gold this first quarter than they have in the previous six years. The efforts to diversify away from the US dollar are being led by China and Russia.

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“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.

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Bernie Sanders’ Economic Policy Would Send Population Buying Bitcoin

By CCN: Hold onto your bitcoin. Stephanie Kelton, U. S. economist and senior economic advisor for Bernie Sanders 2020, just declared war on the U. S. dollar, tweeting: “The carpenter can’t run out of inches.

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Central banks looking to cryptocurrency to replace cash

A central bank digital currency (CBDC) would see central banks distribute digital money which could be redeemed for their respective domestic fiat currencies. In the case of an American CBDC, this would be the US dollar or in Russia, this would be a “Cryptoruble.

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Russian Banks Join Chinese Swift – Is the Dollar Era Under Threat?

As a Saudi oil minister once remarked, the Stone Age didn’t end because we ran out of stones. It seems it’s neither the deficit of a tool nor its deficiencies that make it obsolete, but rather the invention of new tools that do the job better.

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After Ripple, China’s CIPS Now Competes With SWIFT…Departure From US Dollar?

Russian banks have adopted the Chinese CIPS payment system, and the competition from this cross-border platform and Ripple against SWIFT could ultimately lead to the US Dollars being deposed as the leading currency in the world.

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De-Dollarization Accelerating as Central Banks Dumping the US Dollar

The dollar hasn't lost its king status but its influence is surely wearing off. De-dollarization has already been in action for quite some time now as the global geopolitical space is divided into two camps, one who supports US currency as a global reserve tool and other ones are those that have turned their backs […]

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What Is DeFi and Where Does It Leave Bitcoin?

The Bitcoin bull and bear market cycles are a pattern that produces significant developments — when the market is cold, people tend to focus on building the next wave of groundbreaking technology.

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Op Ed: Hanging Money Launderers Out to Dry: The Role of KYC/AML in Blockchain

Crime isn’t supposed to pay, but sometimes the wages of sin are paid in bitcoin. Last week, Japanese police reported that 2018 saw a tenfold increase of cryptocurrency money laundering.

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FBI Nabs OneCoin Ringleader at LAX as Massive Crypto Scam Unravels

On March 6th, the US Federal Bureau of Investigation (FBI) arrested OneCoin ringleader Konstantin Ignatov at Los Angeles International Airport (LAX). The government alleges that he was one of several masterminds behind the multi-billion dollar crypto pyramid scheme.

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Is Euro in Big Trouble? After Deutsche Bank’s Failure, French Giant BNP Warns ‘Extreme Market Conditions’

With newly released data showing slower growth in the euro-zone, the struggle of Deutsche Bank, and BNP Paribas cutting $683 million in expenses, the euro may be in deep trouble. In the last quarter of 2018, a period in which even U.

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Bitspark Launches World’s First Stablecoin Pegged to the Hong Kong Dollar

A Bitcoin remittance startup located in Hong Kong has announced that it has launched the world’s first stablecoin pegged to the Hong Kong dollar. Founded in 2014, Bitspark was created to enable the process of sending money across borders without the use of banks.

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Simon Dixon Reflects on the 10th Anniversary of Bitcoin

With the 10th anniversary of Bitcoin’s launch under the industry’s belt, it’s hard to believe how far the space has traveled in that time. Bitcoin Magazine has asked a number of long-time members of the space to reflect on their experiences, and published author Simon Dixon spoke with us about some of his observations over the years.

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Swiss Multi-Billion Dollar Bank Vontobel Launches Regulated Crypto Custody

Swiss investment bank Vontobel has launched the first regulated digital custodial tool for banks and asset managers

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New Shakepay Feature Turns Your Spare Change Into Bitcoin

Mobile cryptocurrency exchange and peer-to-peer wallet Shakepay has announced a new product that allows its Canadian customers to buy bitcoin with spare change. Dubbed "ShakePay Change," the pre-launch of the service was announced in a Medium post.

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BitGo Banks on Stablecoins in a Bid to Win Over More Institutions

CoinSpeaker BitGo Banks on Stablecoins in a Bid to Win Over More Institutions BitGo recently added the Gemini Dollar (GUSD) to its list of stablecoin offering citing huge demand from institutional players.

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PR: Debut of USDD – A Stable Coin That Pays You Interest

USDD – The world's first dollar-backed and interest-bearing stable coin, with interest payments every 24 hours, will be officially released on October 31st by 55 Global Markets. The USDD value is 100% supported by a US dollar reserve, funds are held in trust for the benefit of tokenholders by PrimeTrust as trustee, a third-party trust company that has relationships with major US banks.

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Op Ed: In Defense of Bitcoin: A Response to Nouriel Roubini

Rhetorical style should never distract from the content of someone’s arguments. So when I heard that Nouriel Roubini testified to the U. S. Senate Committee on Banking, Housing, and Urban Affairs on the cryptocurrency and blockchain ecosystem, I decided to peruse his testimony and reflect on it.

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$183 Million in Ethereum Moved With $0.06 Fee Instantaneously, Better Than Banks

A multi-million dollar worth of transaction that could have cost senders over $5 million in commissions on legacy systems was made with $0. 06 on Ethereum. The Ethereum block 6556384 went through 5080 confirmations and took over 19 hours to transfer more than $183,000,000 without having to go through expensive intermediaries.

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Japanese Internet Monolith GMO to Launch Yen-Pegged Stablecoin

GMO Internet Group is working to launch a stablecoin by 2019. In an announcement released on Tuesday, October 9, 2018, the Japanese IT conglomerate said it is putting all gears in place to begin building its stablecoin, called the GMO Japanese Yen (GJY).

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Paxos Approved As Stablecoin, Tied To US Dollar

On the same day that New York State Department of Financial Services (NYDFS) approved the Winklevoss twins’ Gemini dollar as a regulated stablecoin, NYDFS approved Paxos Standard’s PAX coin (CRYPTO: PAX) as stablecoin and tokenized dollar.

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Paxos Coin Approved As Stablecoin, Tied To US Dollar

On the same day that New York State Department of Financial Services (NYDFS) approved the Winklevoss twins’ Gemini dollar as a regulated stablecoin, NYDFS approved Paxos Standard’s PAX coin (CRYPTO: PAX) as stablecoin and tokenized dollar.

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Inside the Battle to Become the World Currency

As the former reserve currency of central banks and the default denomination of the global oil market, the U. S. dollar has dominated the world’s financial system for the past 70 years, as well as served as a safe-haven for those trying to escape their own, crumbling native currencies.

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Financial Services Firm Opens Doors to Crypto Hedge Funds

The crypto industry has received another boost with the entry of financial services giant Northern Trust in a quiet but significant move. The firm, which manages over $10.

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