Major Banks Pay $385Billion in Penalties for Fraud, Illegality Since 2000 and its not Crypto – Details explained – Top 10 Worst Offenders

The financial industry plays a crucial role in the global economy, facilitating transactions, providing loans, and offering various financial services. However, the sector has not been immune to instances of fraudulent and illegal activities. Over the years, major banks have…

Swiss Bank Introduces Bitcoin and Ether Services in Partnership with SEBA

Key Highlights In a strategic collaboration with SEBA, one of Switzerland’s largest cantonal banks, St. Galler Kantonalbank also a swiss bank has taken a significant step into the world of digital assets. The bank recently unveiled its new custody and…

Jonathan Farnell Exits Binance UK: A Sign of Crypto’s Regulatory Challenges?

According to Coindesk’s latest update, Major cryptocurrency company Binance is seeing significant leadership changes in its UK division. This is happening as regulators take a closer look at offshore crypto companies. Jonathan Farnell was a vital leader guiding Binance’s UK…

Hong Kong Widens Testing of China’s Digital Yuan to Additional Banks

In the era of rapid digitalization, financial landscapes around the world are evolving at a pace never seen before. One of the most intriguing developments in recent times is China’s exploration of its digital currency, the Digital Yuan, commonly known…

Visa to Send Stablecoin USDC over Solana to Help Pay Merchants in Crypto

As Visa aimed to expand its potential to more clients, there was an urgent need to utilize newer, high-performance blockchains that could send and receive stablecoins at a faster rate and at a lower cost. For these reasons, Visa supported…

Visa Payments Will Rely on Multiple Blockchains, Says Head of Crypto

Introduction In the rapidly evolving world of cryptocurrency, Visa has emerged as a prominent player. The global payment giant is not just embracing blockchain technology; it’s betting on multiple blockchains to shape the future of payments. Visa’s Head of Crypto…

SEBA Bank Granted Approval-in-Principle for Crypto Services in Hong Kong

Intoduction In the ever-evolving world of cryptocurrencies and blockchain technology, Swiss-based Seba Bank has achieved a significant milestone. On August 30, 2023, the bank received approval in principle from the Hong Kong authorities to offer crypto services within the region.…

Jack Dorsey’s TBD Launches Bitcoin Lightning Node and Decentralized Financial Services

Jack Dorsey, the co-founder of Twitter and Square, has launched a new venture called TBD, which aims to create an open platform for decentralized financial services. One of the first products offered by TBD is a Bitcoin Lightning node, which…

Banking regulators would be better for overseeing stablecoins than the SEC – Circle’s CEO

According to the Jeremy Allaire, CEO of Circle, banking regulators would probably be more effective in providing oversight for stablecoins. He also expressed his general agreement with the SEC’s proposal for a qualified custodian. During an interview with Bloomberg yesterday,…

BIS Permits Banks to Hold 2% of Their Reserves In Cryptocurrency.

A policy allowing banks to hold 2% of their reserves in cryptocurrencies was recently introduced by the BIS in its Prudential Treatment of Cryptoasset Exposure report for December 2022. Banks to Hold 1% Maximum The policy, which covers a number…