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“# Sen. Elizabeth Warren calls crypto the ‘new shadow bank‘ ” United States Senator Elizabeth Warren, one of the most vocal cryptocurrency skeptics in the U.S. government, has called the cryptocurrency industry the “new shadow bank.” In a Sept. 5 interview with the New York Times, Warren said that the cryptocurrency industry offers “many of…
“# Banks vs. exchanges — regulators overwhelmingly penalize fiat, not crypto ” While regulators have often targeted projects in and out of the crypto space, the fines levied against digital asset exchanges are a fraction of those against traditional financial institutions. According to data from Good Jobs First’s violation tracker, the platform analyzed 50 of…
“# Nigeria’s securities regulator establishes fintech unit to study crypto ” In 2021, financial institutions operating in Nigeria have been the lever of a government crackdown on cryptocurrencies, beginning with February’s notorious central bank ban on lenders providing services to crypto exchanges in the country. With much of the Nigerian crypto market of necessity peer-to-peer,…
“# Russian Sberbank plans to register its digital asset tool in September ” Sber, the largest banking institution in Russia, continues progressing with the development of its blockchain-based platform for issuing digital assets. Anatoly Popov, deputy chairman of the executive board at Sber, said that the bank is planning to have registered its digital asset…
“# UK-based banking firm Standard Chartered joins Global Digital Finance patron board ” Standard Chartered, a United Kingdom-based multinational banking firm, has joined an alliance of fintech companies and banks aimed at accelerating the adoption of best practices of cryptocurrencies. In a Wednesday announcement, Standard Chartered said it would be joining crypto and digital finance…
“# Chinese banks explore e-yuan for selling investment funds and insurance ” Government-backed Chinese banks have reportedly started exploring new use cases for the digital yuan by allowing citizens to use it to buy insurance products and investment funds online. The South China Morning Post reported on Tuesday that leading Chinese banks such as Bank of…
“# MUFG boosts its crypto exposure following $41M Zipmex funding round ” Thailand’s Bank of Ayudhya (BAY) – in which Mitsubishi UFJ Financial Group (MUFG) holds a 76.9% stake – participated in the latest funding round for the Asia-Pacific-focused crypto exchange Zipmex. The $41 million raise, which saw the participation of two publicly traded Thai media…
“# Standard Chartered launches blockchain trade platorm with Chinese fintech ” United Kingdom-based multinational banking firm Standard Chartered (StanChart) has launched a blockchain-powered trade finance platform through a joint venture with Chinese supply chain finance technology provider Linklogis. Dubbed Olea, the platform will aim to meet the needs of institutional investors that are “seeking opportunities…
“# 3 reasons why Tezos (XTZ) price has gained 85% this month ” The Ethereum (ETH) network is currently the dominant layer-one protocol in terms of smart contract deployment and active users, but the race to become the ‘world’s computer’ is far from settled because competing protocols are gaining traction by offering solutions to high…
“# Thai SEC proposes new rules for digital asset custodians ” The Securities and Exchange Commission (SEC) of Thailand continues introducing new regulations for the cryptocurrency industry, citing investor protection concerns. On Wednesday, the Thai SEC proposed a set of additional regulations related to custody of investors’ cryptocurrency holdings held by digital asset business operators. The…