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“# Indian central bank clarifies regulations as local banks shun crypto ” India’s central bank has issued an official notice regarding local banks reportedly cautioning customers against using cryptocurrencies like Bitcoin (BTC). Published Monday, the notice points out that the Reserve Bank of India is aware of media reports that certain banks have cautioned their…
“# Understanding the systemic shift from digitization to tokenization of financial services ” The financial industry has seen a rise in demand for exposure to digital — and crypto — assets in all asset classes. This has led to interest, demand and investment from institutional finance, ranging from digital asset custody to digital asset trading…
“# Worst UK bank for dealing with scams issues crypto scam alert ” The U.K bank with the worst record for dealing with scam complaints has issued a cryptocurrency scam alert. NatWest, which was rated as the worst U.K bank for accurately discerning legitimate fraud complaints in 2020, sent the warning to users of its…
“# Bank of Canada sees no strong case for a digital dollar — for now ” The Bank of Canada does not see a strong reason for issuing a central bank digital currency, or CBDC at the moment. Timothy Lane, the Bank of Canada’s deputy governor and head of research at the bank’s fintech and…
“# Banks cautious about crypto ahead of COVID-19 testimony before US Senate ” Major Wall Street bank executives will appear before the United States Senate Banking Committee on Wednesday to discuss the role of their financial institutions in the recovery of the American economy. Democratic lawmakers plan to grill a number of major bank execs,…
“# Swiss Sygnum bank to offer custody for Internet Computer token ” Switzerland-based cryptocurrency bank Sygnum is launching custody and banking services for Internet Computer (ICP) utility tokens. Sygnum announced Tuesday that ICP holders will be able to deposit their tokens with the bank’s institutional-grade segregated wallets. The firm said that it is the first…
“# US FDIC seeks insight on banks’ role in cryptocurrency markets ” The United States Federal Deposit Insurance Corporation is looking for information and public comments on banks’ cryptocurrency-related activities. The FDIC is the major provider of deposit insurance to U.S. commercial and savings banks, originally created to address bank runs during the Great Depression. …
“# Banking system consumes two times more energy than Bitcoin: research ” Amid the ongoing concerns over Bitcoin’s (BTC) energy consumption, a new study states that the traditional banking system consumes much more energy than the Bitcoin network. Michael Novogratz’s cryptocurrency firm Galaxy Digital released a report Friday titled “On Bitcoin’s Energy Consumption: A Quantitative Approach…
“#Lenders look to lure consumers with lax standards” Banks are loosening standards to qualify for credit cards and personal loans — and it’s not because they’re feeling generous. After tightening credit during the onset of the pandemic, a deluge of defaults that banks had been bracing for never materialized. Instead, consumers hunkered down at home…
“# UK will likely need to issue a digital currency, says BoE deputy governor ” The Bank of England’s deputy governor Jon Cunliffe has argued that a sea change in the issuance and circulation of public and private monies could make general access to a digital form of central bank money crucial for ensuring financial…