In a bid to facilitate swift payments between BRICS countries, the BRICS Business Council has proposed the creation of unifying cryptocurrency in a forum in Brazil. The crypto asset will be used as a single payment system for settlements between member…
China has been sending mixed signals about its preparedness to issue a national crypto. Despite the new blockchain push, there is still no timeframe for the anticipated launch of the digital yuan and few details have been revealed so far. However, a senior official from China’s central bank pulled the curtain back slightly this week. […]
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The U.S. Securities and Exchange Commission (SEC) has declared the IPO of pro-crypto Silvergate Bank effective. Its shares started trading on the New York Stock Exchange on Thursday. The crypto-friendly bank works with 756 customers in the crypto space, including Coinbase, Gemini, Circle, Bitstamp, Kraken, and Bittrex. The bank has attributed significant growth to its […]
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A worrisome banking situation arises in the United States. In a matter of seven days, three banks have failed. The latest victim is City National Bank of New Jersey located in Newark. The past few years have not been easy for traditional banks. Their costs often outweigh profits, forcing them to make tough decisions. Those who simply cannot improve or innovate will ultimately meet their demise. A Rough Patch for Smaller US Banks In the US, three different banks have been shut down in the past week. A very worrisome trend, albeit none of them are “big” institutions by any
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Many factors can influence the current and future value of Bitcoin. Finding reliable correlations is always a bit iffy. According to some, the current repo market problem in the US will spark a new Bitcoin bull run. Financial markets are, for the most part, correlating with one another. Bitcoin and other cryptocurrencies are often considered to be outliers. In the real world, however, there appears to be some synchronicity as to how these markets move up and down on a weekly basis. US Repo Markets Spark a Debate As such, any potentially troublesome financial event can impact the Bitcoin price.
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In mid-September, the foreign exchange company CME Group announced the launch of options on its bitcoin futures contracts in Q1 2020, pending regulatory review. CME Group executive Tim McCourt said there was “increasing client demand” for the firm’s bitcoin derivatives and now the company has published specifications for the options products. Also Read: French Ministry […]
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SBI’s crypto affiliate SBI VC Trade saw a $7 million loss turn into a $30 million profit from H1 FY2018 to H1 FY2019
A bank in Belarus has effectively gotten the green light to process transfers related to digital assets. DFS, an affiliated company of Belveb Banking Holding’s member VEB Technologies, was recently registered as a resident of the High Technologies Park. The country’s special economic zone has already become home to many crypto businesses. Also read: Bittrex […]
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Banking services platform Cashaa is offering a solution for Indian crypto owners facing banking restrictions imposed by the country’s central bank, the Reserve Bank of India (RBI). The service allows users to deposit up to 1 crore rupees (~$141,012) per month to purchase cryptocurrencies. Also read: Indian Finance Minister Answers Crypto Questions at IMF Meeting […]
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A research paper published by the Federal Reserve Bank of San Francisco shows how negative interest rates could become an important policy tool for fighting future economic downturns. The paper examines the market response to the introduction of negative interest rates by five major central banks. Also read: Where US Regulators Stand on Cryptocurrency Fed […]
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