The Federal Deposit Insurance Corporation (FDIC) statement conveyed on Sunday, March 19, places 40 branches previously owned by Signature Bank under the Flagstar Bank NA. The New York’s Bancorp bank is set to assume and exercise operations control over the branches’ digital banking deposits. Customers of the 40 branches would receive services whose execution now…
The recent update conveyed on Monday, March 13, by the Commodity Futures Trading Commission (CFTC) indicated Carole House would chair the Technology Advisory Committee. The CFTC update confirmed that Ari Redboard of blockchain-based analytic firm TRM Labs would deputize the former official of the US White House. Unveiling Members of Tech Advisory Committee The changes…
The crypto tax company Koinly announced on December 6 that they will be letting go of over 14% of its staff to ensure the company’s survivability throughout the crypto winter and the worsening bear market that has been affecting all businesses operating in or adjacent to the crypto industry. The FTX collapse certainly created more…
The Swiss-based SEBA banking company, with offices in several Asian countries, lately opened a brand-new department in an effort to reclaim its status as a cryptocurrency fast-developing trader. The recent news SEBA announced at the end of November that the coordination of its APAC development strategy will take place in its Hong Kong department. In…
The finance management department of Japan has given the impression that it might be working to create a new law to regulate the De-Fi services, given that it is presently spotlighting redistributed financial programs. The Japanese state authorities have declared an open bidding process and a fact-finding survey for redistributed finance services. The FSA is…
In December, the main bank in India will begin testing retail CBDC. The goal of the digital rupee is to enhance rather than replace the existing payment infrastructure. The RBI is getting ready to launch the selling of the new project of creating electronic rupee, after testing the wholesale use of its central bank digital…
A ban on PoW crypto-mining has been enacted by the governor of New York. The PoW moratorium bill was approved by the governor on November 1. In November, the Proof of Work crypto-creation ban was enacted by New York Governor Kathy Hochul. In addition to outlawing new mining operations, the PoW mining moratorium might also…
Congressional consideration of a digital asset management bill shows that El Salvador is going on with its desire to issue bitcoin-related financial certificates. The Legislative Assembly of El Salvador received a bill from Minister of the Economy Maria Luisa Hayem Breve. The bill would establish state committee on the crypto-related assets, which would be in…
A bear market is a common practice in the cryptocurrency market and everyday traders are used to it. It has been experienced for a number of times in the past and it will also happen in the future in all financial markets. The value of the assets has been depreciated by almost 70% from their…
FTX, a bankrupt cryptocurrency exchange, disclosed in its official bankruptcy filing on Tuesday. It had undergone a “major liquidation” as regulators opened an investigation and demanded that rules for the troubled sector be put in place more quickly. According to paperwork submitted by FTX in a US insolvency judiciary, FTX has contacted finance controls and…
According to a tweet from the anti-corruption organization ALAC, El Salvador’s bank BANDESAL has once again rejected a request for records of public Bitcoin transactions. The disclosure of Bitcoin transaction records prompted a response from El Salvador. The investigation Citizens of El Salvador wish to report corruption receive legal assistance from the Anti-Corruption Legal Advisory…
To spread out the reach of cryptocurrencies in the Israeli economy, the Capital Stock Exchange (TASE) has announced a brand-new strategical program to create a new digital asset platform for the year 2023-2027. According to it, the government is going to facilitate the adoption of advanced engineerings such as NFTs, tokenization of different electronic assets,…
Well-thought-out Portugal has always been among the most crypto-welcoming countries, it has progressively changed its stance on taxation of cryptocurrency profits and at present prohibits holding cryptocurrency profits for periods of not more than one year. Bloomberg says the Portuguese Republic, to introduce the radical regulations, was considering to be on the same page with…
The Russian government was infamously against using or regulating digital crypto assets. However, the current geopolitical situation forced the leaders of the nation to shift their stance on cryptocurrencies. What is happening to the Russian economy? Since the beginning of the Russia-Ukraine war, the whole world has been piling on the Russian economy imposing one…
The talks about true adoption are concentrated around either country that has failing monetary systems or countries that spearhead the process of regulating crypto assets. The former has many citizens interested in hedging against inflation and storing money in crypto. The latter make headlines because they often set intriguing precedents. On the other hand, countries…
We have been focusing our attention on South America with more and more people turning to crypto as their fiat currencies tumble down against the US dollar. The latter is also in pretty rough shape and will face severe struggles due to the mounting national debt. It is only logical for many citizens of Peru,…
One of the downsides of having a representative of the rich occupy the position of a leader is that it will always lead to a situation where they ignore the poor and help the rich. Liz Truss started her Premier Minister career with a series of questionable decisions that were received with a lot of…
Crypto.com will be offering services to retail traders in France. While it is interesting that the country decided to embrace crypto assets as part of its financial ecosystem, the fact that AMF is issuing more licenses is a very important development for the whole industry with many more big players eager to enter the French…
During the parliamentary debate on the topic of crypto regulation, Richard Fuller, the Economic Secretary to the Treasury, noted that the country should be creating a hospitable space for people who want to be creative and innovative within the crypto industry. He believes that it will be possible under Truss and her more progressive views…
The recent news story about the US government suggesting banning crypto mining has been making rounds in the crypto community with many members saying that it should never happen. However, the issue is a little bit more complex than the US senators waging war against crypto. Many states are already heavily invested in mining and…