US Crypto Crackdown Regulators Target Coinbase and Binance, Raising Calls for Comprehensive Regulation
US regulators have intensified their scrutiny of major players to assert greater control over the burgeoning cryptocurrency industry. The Securities and Exchange Commission (SEC) recently filed a lawsuit against Coinbase, the largest digital currency trading platform in the United States, for failing to register as a securities exchange venue. This legal action comes just a day after similar charges were brought against Binance, a prominent cryptocurrency exchange, and its founder, Changpeng Zhao.
How Digital Disruption is Impacting Traditional Banking in the Middle East?
Digital banks in UAE, Kuwait, and Saudi Arabia are posing significant challenges and opportunities for traditional banks in the region. While the prevalence of cash payments remains high, recent government policies, regulatory initiatives, and the outbreak of the COVID-19 pandemic are spurring rapid changes in the payments landscape. According to a survey conducted by McKinsey, 90% of payment practitioners believe that the shift toward digital payments will be permanent. Nonbank payment providers are predicted to emerge victorious by 60% of survey respondents, highlighting the importance of traditional banks prioritizing digitizing customer journeys and investing in fintech to remain relevant in this dynamic space.
Cryptoverse: What crisis? Venture capitalists bet big on crypto
Even as the crypto sector shivers in the bleak winter, venture capitalists are pouring money into digital currency and blockchain startups at a pace that’s set to outstrip last year’s record.
Bitcoin tries to recover as the Evergrande-led selloff subsides!
On Tuesday, cryptocurrency prices recovered from one-and-a-half-month lows as a massive selloff overnight triggered by fears of a potential loan default by property developer China Evergrande (3333. HK) eased slightly, but investors braced for more volatility. A cryptocurrency, crypto-currency, or crypto is binary data intended to act as a medium of exchange, with individual coin […]
Central bank digital currencies can slash cross border payment time – BIS
HONG KONG, Sept 28 (Reuters) – Central bank digital currencies (CBDCs) can slash the time needed for cross border payments to seconds from days and cut costs, the Bank of International Settlements (BIS) said, citing a pilot scheme to test the digital forms of fiat currencies. The trial showed cross-border transactions could be made in […]
Crypto CEOs should cooperate with regulators to unlock future growth -SALT panel
Cryptocurrency executives should work with regulators instead of being their adversary for the sector to grow to its potential, members of a digital currency panel at Wall Street’s SALT conference said on Monday.
Citi considering bitcoin futures trading for some institutional clients
Citigroup Inc (C.N) is considering offering bitcoin futures trading for some institutional clients, a spokesperson for the bank said on Tuesday, citing increased demand in the cryptocurrency space.
Analysis: Decentralised finance – Latest front in crypto’s hacking problem
or most of the 13-year life of cryptocurrencies, exchanges were the epicentre for cyberheists. Now, a bigger hacking risk in the growing sector has exploded into view: peer-to-peer crypto platforms.
US dollar, stocks dip as Fed keeps taper timing close to chest
U.S. stocks and the dollar slipped on Wednesday in listless trade after the Federal Reserve gave no clue about when it might start reducing its purchases of government bonds, even as it said the economic recovery is on track.
Amazon denies report of accepting bitcoin as payment
Amazon.com Inc (AMZN.O) on Monday denied a media report saying the e-commerce giant was looking to accept bitcoin payments by the end of the year.
