The metaverse is a massive opportunity for crypto that calls for new platforms and tokens, Bank of America strategist says | Currency News | Financial and Business News

An art exhibit depicting the metaverse.

Viewers take in the art installation “Machine Hallucinations – Space: Metaverse” by Refik Anadol.Tyrone Siu/Reuters The metaverse is a massive opportunity for the crypto space, according to a Bank of America strategist. BofA’s Haim Israel predicted that cryptocurrencies will finally be used widely for transactions in virtual worlds. He said crypto-based platforms will need developing, … Read more

Federal Bank Regulators Focus on Crypto Assets and Blockchain Activities | Ballard Spahr LLP

Federal Bank Regulators Focus on Crypto Assets and Blockchain Activities | Ballard Spahr LLP

Agencies Issue “Crypto Asset Roadmap” for 2022 Guidance, and OCC Confirms Prior Interpretive Letters on Crypto – So Long as Supervisory Regulators Do Not Object The Board of Governors of the Federal Reserve System (“Federal Reserve”), the Federal Deposit Insurance Corporation (“FDIC”) and the Office of the Comptroller of the Currency (“OCC”) (collectively, the “Agencies”) … Read more

Annual Volume of Crypto Transactions Made by Russians Reaches $5 Billion, Bank of Russia Finds – Bitcoin News

Annual Volume of Crypto Transactions Made by Russians Reaches $5 Billion, Bank of Russia Finds

With the growing capitalization of the crypto economy, Russians have been making crypto transactions worth billions of dollars a year, data gathered by the Central Bank of Russia shows. Russian residents are some of the most active participants in the crypto market, the regulator has acknowledged. Russians Among Most Active Crypto Users, Central Bank Admits … Read more

Crypto poses no big risk to economy so far, Bank of Canada official says

Crypto poses no big risk to economy so far, Bank of Canada official says

Cryptocurrencies like Bitcoin (BTC) do not pose any significant risk to the financial system at their current level of adoption, according to Bank of Canada deputy governor Paul Beaudry.Beaudry spoke about the risks to the stability of the Canadian financial system at the Ontario Securities Commission Dialogue 2021 on Tuesda.When asked whether cryptocurrencies are a … Read more

Estonia’s largest bank allows crypto trading

Estonia's largest bank allows crypto trading

Harbour of Tallinn, Estonia. Photo: GettyEstonia’s largest bank LHV (LHV1T.TL) will allow customers to trade crypto through its app from next week, the bank announced on Tuesday.Users will be able to trade major cryptocurrencies such as bitcoin, ethereum and chainlink directly on the app via crypto exchange Bitstamp.The app will show customers’ crypto assets and … Read more

Galaxy Digital’s Investment Bank Ramping up Crypto Dealmaking

Galaxy Digital's Investment Bank Ramping up Crypto Dealmaking

Galaxy Digital launched an investment bank in 2019 to compete for crypto dealmaking. The space is now exploding, with crypto M&A at an all-time high of more than $4 billion this year. Galaxy is betting its specialist view will help it compete alongside established Wall Street players. Galaxy Digital was founded in 2018 with the … Read more

Australia’s Largest Bank Sees ‘Bigger Risks in Not Participating’ in Crypto – Featured Bitcoin News

Crypto FOMO: Australia's Largest Bank Sees 'Bigger Risks in Not Participating' in Crypto

The CEO of Commonwealth Bank of Australia (CBA), the country’s largest bank, sees big risks in not participating in cryptocurrency. “We see risks in participating, but we see bigger risks in not participating,” he explained. Crypto FOMO, Banks Need to Get Involved, Says CEO of Commonwealth Bank Commonwealth Bank of Australia CEO Matt Comyn talked … Read more

U.S. Agencies Set to Get Even More Cautious on Crypto, Bank Watchdog Warns

U.S. Agencies Set to Get Even More Cautious on Crypto, Bank Watchdog Warns

(Bloomberg) — Cryptocurrencies have faced a bumpy road to gaining acceptance from the U.S. financial system. Now, they are about to encounter a fresh obstacle with banking watchdogs set to announce an even more cautious approach to regulating digital tokens.Michael Hsu, the acting chief of the Office of the Comptroller of the Currency, said Tuesday … Read more

Bank of England Deputy Governor

Bank of England Deputy Governor

Sir Jon Cunliffe, the Deputy Governor for Financial Stability at the Bank of England (BoE) crypto may pose an imminent threat to the traditional financial system. During a Nov. 15 interview with the BBC’s “Today” program, Cunliffe argued that the rapid growth of digital assets and their integration with traditional financial services could soon pose … Read more

Israel’s Bank Hapoalim returns to pre-COVID-19 levels in Q3

Israel's Bank Hapoalim returns to pre-COVID-19 levels in Q3

The logo of Bank Hapoalim is seen at main branch in Tel Aviv, Israel July 18, 2016. REUTERS/Amir Cohen/File PhotoJERUSALEM, Nov 15 (Reuters) – Bank Hapoalim (POLI.TA) reported a higher-than-expected gain in quarterly profit on Monday and said business activity had largely returned to pre-COVID-19 levels.Hapoalim, one of Israel’s two largest lenders, continued to unwind … Read more

Bank of England Governor Warns Crypto Is Providing Means of Payment for Criminals – Regulation Bitcoin News

Bank of England Governor Warns Crypto Is Providing Means of Payment for Criminals

Bank of England Governor Andrew Bailey has warned that crypto assets are providing another means of payment for people who want to conduct criminal activity. Bank of England Governor Andrew Bailey Sees Crypto Helping Criminal Activities The governor of the Bank of England, Andrew Bailey, said during an online question-and-answer session organized by the British … Read more

Singapore central bank MAS calls out crypto risks, speculative swings

Singapore central bank MAS calls out crypto risks, speculative swings

Signage for the Monetary Authority of Singapore (MAS) is displayed outside the central bank’s headquarters in Singapore.Sam Kang Li | Bloomberg | Getty ImagesSINGAPORE — Singapore’s central bank and financial regulator warned Tuesday of “sharp speculative swings” and potential risks for retail investors who put their money in cryptocurrencies.The Monetary Authority of Singapore “frowns on … Read more

Commonwealth Bank of Australia now provides crypto trading services

Commonwealth Bank of Australia now provides crypto trading services

Crypto trading in many countries is still in its infancy stages or awaiting regulatory approvals. In the financial sector, most banks had refused to do business with cryptocurrency providers in the past, with only a handful of banks in Europe and the US offering crypto trading services.In China,  the government has ordered a halt to … Read more

Spain’s Central Bank Requesting Financial Institutions to Outline Crypto Plans Until 2024: Report

Spain’s Central Bank Requesting Financial Institutions to Outline Crypto Plans Until 2024: Report

Banco Santander, Spain’s largest bank, will be offering crypto exchange-traded funds (ETF), Santander’s Executive President Ana Botin said on Oct. 14 in a Bloomberg TV interview. “We have been quite slow in adopting that, because of compliance and regulatory and risk appetite,” Botin said. “But we are now getting into it.” When asked if Santander’s … Read more

Customers Bank Veers Into Crypto With Transfer Token, $1.5B in Crypto-Related Deposits

Customers Bank Veers Into Crypto With Transfer Token, $1.5B in Crypto-Related Deposits

Pennsylvania-based Customers Bank has started onboarding its first cryptocurrency businesses, offering those firms use of a digital asset payments platform plus the bank’s own internal digital fiat token.As such, Customers Bank will compete with Silvergate in California, Signature in New York and only a handful of others openly offering crypto firms basic accounts, as well … Read more

Saxo Bank announces crypto volumes exceed $2.5b year to date

Saxo Bank announces crypto volumes exceed $2.5b year to date

Saxo Bank announces crypto volumes exceed $2.5b year to date By Joy Dumasia Today Asset Management Crypto FX Crypto Wallets Saxo Bank, the online trading and investment specialist, has announced that its selection of crypto products has exceeded 2.5 billion USD (16 billion DKK) in turnover for the year, leading the Danish online broker to … Read more

Saxo Bank boosts Crypto FX offering after $2.5b in turnover since May

Saxo Bank boosts Crypto FX offering after $2.5b in turnover since May

Saxo increased maximum position limits and several new crypto instruments, including the first ever US Crypto ETF issued by Proshares last week under ticker BITO. Saxo Bank has reported crypto trading turnover exceeding 2.5 billion USD since launching Crypto FX products in May 2021.Clients have quickly responded to the launch by adhering to the new … Read more

Mastercard says any bank or merchant on its vast network can soon offer crypto services

Mastercard says any bank or merchant on its vast network can soon offer crypto services

Mastercard credit cardsRoberto Machado Noa/ LightRocket via Getty ImagesThe crypto economy is about to expand.Mastercard is preparing to announce that any of the thousands of banks and millions of merchants on its payments network can soon integrate crypto into their products, CNBC has learned.That includes bitcoin wallets, credit and debit cards that earn rewards in … Read more

The Potential of FutureCoin, the Decentralized Crypto Bank Solution

The Potential of FutureCoin, the Decentralized Crypto Bank Solution

Bucharest, Romania–(Newsfile Corp. – October 18, 2021) – FutureCoin, a platform that aims to launch a decentralized banking solution, announces that it will be the first crypto company using Solar energy.FutureCoin is a cryptocurrency project founded by Filip Cristian, a 19-year-old entrepreneur with an incredible team and experience.FutureCoin projects include Destiny Wallet and Destiny Swap … Read more

Covid pandemic has pushed poor countries to record debt levels – World Bank | World Bank

The Covid-19 pandemic has led to a “tragic reversal” in development and pushed debt in poor countries to record levels, the head of the World Bank has said.David Malpass, the bank’s president warned the virus had widened the gap between rich and poor nations, setting back progress by years and, in the case of some … Read more