Image Source: BBC Consumer-focused UK bank NatWest is putting a limit on the amount of money customers can transfer to cryptocurrency exchanges in a move that shows deteriorating relationships between digital asset firms and financial institutions. Users of the bank will be limited to payments of 1,000 British pounds ($1,218) per day and 5,000 British...
Jerome Powell addresses inflation and labor market concerns, outlining the Federal Reserve’s cautious approach to future monetary policies. Image by tanarch, Adobe Stock Today, Federal Reserve Chair Jerome Powell addressed critical economic issues facing the United States in a talk at the Economic Club of New York. During the speech, Powell discussed the state of...
PetroChina completes the first international crude oil trade using China’s Digital Yuan, marking a watershed moment in the integration of CBDCs into global commerce. Image by RareStock, Adobe Stock PetroChina inked a major deal on October 18, becoming the first company to complete an international crude oil trade using China’s central bank digital currency (CBDC),...
Grayscale and FTSE Russell unveil an index that categorizes crypto assets into distinct sectors. Image by 24K-Production, Adobe Stock Today, Grayscale Investments announced a partnership with the UK-based global index provider FTSE Russell to introduce the FTSE Grayscale Crypto Sector Index Series. The index hopes to bring clarity to the fast-growing, yet often misunderstood crypto...
BlackRock’s SEC fine raises questions about its suitability for managing a Bitcoin ETF. Image by Sergei Tokmakov, Pixabay. According to a Tuesday release from the U.S. Securities and Exchange Commission (SEC), BlackRock Advisors LLC has agreed to a $2.5 million penalty for failing to accurately describe investments in the entertainment industry. The development is of...
Kraken will provide user data to the IRS after a legal battle over crypto tax reporting. Image by Michael O’Keene, Adobe Stock.Major U.S. cryptocurrency exchange Kraken will provide limited user information to the Internal Revenue Service (IRS) next month following a court order received in June. The data concerns specific Kraken users who conducted transactions...
The HKMA has called for additional research to assess the feasibility and impact of introducing a retail CBDC in Hong Kong. Image by MMollaretti, Adobe Stock. As financial institutions worldwide explore the adoption of digital currencies, Hong Kong’s stance on its own Central Bank Digital Currency (CBDC), known as e-HKD, remains cautious. A recently published...
Source: SGKB Switzerland’s fifth largest cantonal bank, St.Galler Kantonalbank (SGKB), has partnered with SEBA Bank to offer custody and trading services for Bitcoin and Ethereum. SGKB announced that the service is initially available to a select group of wealth-management clients at SGKB with future plans to expand the offering to retail customers soon. Christian Bieri,...
Mastercard’s expert Ashok Venkateswaran has expressed skepticism about the current viability of widespread central bank digital currencies (CBDC), claiming that the broad adoption of CBDC could be “difficult,” according to CNBC. Venkateswaran, Mastercard’s Blockchain and Digital Assets Lead for Asia-Pacific, discussed the complexities surrounding the implementation of CBDCs during the Singapore FinTech Festival. He pointed...
-- Shares of SK Hynix Inc (KS:000660) briefly surged to a record high on Monday, extending a raft of recent gains amid growing bets that the South Korean memory chip maker will benefit from its exposure to an artificial intelligence boom. SK Hynix shares rose 3.6% to 152,000 won, briefly hitting a lifetime high of...