South Africa’s FirstRand Bank Terminates Accounts Related to Crypto

South Africa’s FirstRand Bank Terminates Accounts Related to Crypto

FirstRand Bank has notified some of the most major cryptocurrency exchanges in South Africa about the closure of their accounts. These crypto exchanges include VALR, Luno and ICE3X. The decision came out after the bank reconsidered its risk factor when it comes to digital currencies and decided to discontinue working with companies that it considered to increase the risk factor. The decision, however, can be revised. According to the bank’s statement, it might change its…

Read More

Ex-Federal Reserve Chairman Greenspan: ‘No Point’ Issuing Central Bank Digital Currency

Ex-Federal Reserve Chairman Greenspan: ‘No Point’ Issuing Central Bank Digital Currency

The former Federal Reserve chairman Alan Greenspan said at a conference that it is pointless for central banks to issue their own digital currencies. Presenting his views, Greenspan said that national (fiat) currencies are backed up by sovereign credit and therefore are far superior to digital assets proposed by tech giants like Facebook. “There’s no point for them to do it,” Alan Greenspan affirmed a financial conference in China. Describing the importance and potential of…

Read More

Switzerland-Based Banking Firm SEBA Now Fully Functional After Receiving Licence

Switzerland-Based Banking Firm SEBA Now Fully Functional After Receiving Licence

After successfully obtaining a banking license from the Swiss Financial Market Supervisory Authority (FINMA), SEBA Bank announces the launch of its services in digital assets and traditional assets banking. In a blog post that announced the launch of the bank’s new crypto services, it reports that the bank will now cater to a wide range of clients that include “asset managers, pension funds, companies, and professional private investors.” FINMA has closely monitored the operations at…

Read More

Canadian Once Anti-Crypto Bank RBC Now Poised to Jump on the Crypto Wagon

Canadian Once Anti-Crypto Bank RBC Now Poised to Jump on the Crypto Wagon

Canada’s largest bank, the Royal Bank of Canada (RBC), is reportedly looking to venture into the highly volatile and controversial (at least in the banking community) crypto market, according to a report by the Logic. Besides being the biggest bank in Canada, accruing more than $965 billion in total assets, the RBC was notorious at a time for its anti-crypto stance. Thanks to the controversial nature of the crypto ecosystem, it is not unusual to…

Read More

China’s Central Bank Executive: ‘Controllable Anonymity’ with State’s Digital Currency

China’s Central Bank Executive: ‘Controllable Anonymity’ with State’s Digital Currency

As China moves forward towards the launch of the digitized version of its traditional currency, investors and financial authorities all over the world closely monitor and assess its implications for the general public. With worries of surveillance and abuse in mind, the head of the People’s Bank of China’s digital currency research institute Mu Changchun stressed that the digital currency is not intended to empower the state to control private information of the public. Instead,…

Read More

Former European Central Bank President: Strongly Against Bitcoin, Crypto Is Not Real

Former European Central Bank President: Strongly Against Bitcoin, Crypto Is Not Real

Jean-Claude Trichet, former president of the European Central Bank has affirmed his doubts over cryptocurrency, claiming that it can never become the future and replace fiat currency. Trichet is merely the latest anti-crypto member with a banking background to express a dislike over the new emerging technology of cryptocurrency that is perceived as a threat, which could dismantle the conventional system of international central banks by removing their firm control over currencies. At the 10th…

Read More

Tunisia Develops the Central Bank Digital Currency E-Dinar

Tunisia Develops the Central Bank Digital Currency E-Dinar

In what comes as major development in the adoption of a blockchain technology and crypto, Tunisia announces its own Central Bank Digital Currency (CBDC). With this launch, Tunisia positions itself as the first major country to adopt a CBDC, faster even than previously anticipated. The new cryptocurrency, called “E-dinar,” was officially released at the Forex Club of Tunisia after initial test runs. A symbolic transfer of one E-dinar was made between the head of the…

Read More

Draft Document Reveals Intention to Develop Cryptocurrency by European Central Bank

Draft Document Reveals Intention to Develop Cryptocurrency by European Central Bank

Facebook’s announcement in June to launch its own cryptocurrency, Libra, met a lot of obstacles as countries including France and Germany claimed that the use of Facebook’s digital currency in their territories could be a potential risk for their financial sector. In accordance with that assessment, recently a European Union draft document obtained by Reuters stated that the European Central Bank (ECB) should research and consider the development of a public digital currency as Facebook’s…

Read More

Turkey to Complete Development of National Digital Currency by 2020

Turkey to Complete Development of National Digital Currency by 2020

Turkey’s state-sponsored outlet Resmi Gazete, which regularly announces details of new legislation and publishes official announcements of the Turkish government, released a document detailing the progress of the digital Lira. The document was published early this week and affirms that the initial trials of the new digital currency would be conducted and completed by the end of next year. Cointelegraph Turkey reports that the country’s central bank aims to issue the digital Lira in hopes…

Read More

Argentina’s Central Bank Forbids Acquiring Cryptocurrency with Credit Cards

Argentina’s Central Bank Forbids Acquiring Cryptocurrency with Credit Cards

In order to curb the fast depleting foreign reserve in Argentina, the Central Bank of the Argentine Republic has placed a stringent restriction on the amount of Bitcoin(BTC)trade and US dollar its citizens can purchase, and limited the means with which people could make such purchases. Argentina’s economy may have hit rock bottom already. The Argentinian government made several almost desperate moves recently, turning to its last resorts as the country’s foreign reserve continues to…

Read More
1 2 3 12