Category: Banks

Bank Of Singapore: Bitcoin Could Succeed As A Store Of Value

The Singaporean private banking arm of OCBC Bank has dismissed the chances of cryptocurrencies eventually replacing fiat currencies as a medium of exchange. However, the large institution believes that BTC and other altcoins can replace gold in terms of serving as a store of value. Cryptocurrencies: Store Of Value; Not Medium Of Exchange Ever since […]

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‘Bitcoin is Bad’ Narrative Weakens as Aussie Banks Have Reportedly Laundered $385M for Drug Cartels

Amid the renewed anti-Bitcoin remarks ascribed to mainstream finance stakeholders, reports have emerged showing banks in Australia working in cahoots with violent South American cocaine cartels. Despite aspersions to the contrary, the crypto market continues to account for an insignificant proportion of global financial crimes. Australian Banks Funelling Dirty Money for Drug Cartels According to […]

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Russia’s Sberbank Seeks Approval To Launch Its Own Cryptocurrency

Russia’s Sberbank Seeks Approval To Launch Its Own Cryptocurrency

Giant state-owned Russian bank Sberbank has reportedly sought approval from the nation’s central bank to launch its own cryptocurrency through a blockchain platform. Separately, a Russian court has removed the leading crypto exchange Binance from a regulator’s blacklist. Sberbank Looks Into Launching Its Own Crypto? According to the local coverage, Sberbank of Russia, one of […]

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Bitcoin Exchange Owner Sues Australian Banks For $290K For Accounts Closure

The legal battle comes as the Aussie man allegedly suffered significant losses in his crypto business after the banks, Westpac and ANZ, shut down his accounts, local media reported Monday. According to the proceedings filed at the ACT Civil and Administrative Tribunal, Allan Flynn alleged that the banks’ action was illegal as they closed his accounts […]

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Greenlight: Anchorage Secures Crypto Banking Charter from the OCC

Anchorage, a crypto custodial service, has become the first to receive a national trust charter from the United States Office of the Comptroller of the Currency (OCC). The move puts the firm in the position to claim the mantle of the first U.S.-based national crypto bank. Anchorage Digital Bank Scores OCC Approval According to a […]

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Major South Korean Bank Shinhan Is Set to Offer Crypto Custody-Related Services

Major South Korean Bank Shinhan Is Set to Offer Crypto Custody-Related Services

A major commercial bank in South Korea is entering the crypto business by allocating an equity investment in the Korea Digital Asset Trust (KDAC). Shinhan Bank is looking to offer digital asset custody services. Bank Expects to Offer Tech Capabilities to Face Defi-Related Hacking Risks According to inews24, the bank announced the investment in the […]

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OCC Greenlights US Banks to Use Stablecoins and Public Blockchains for Payments

The U.S. Office of the Comptroller of the Currency (OCC) has published more crypto-friendly guidelines allowing greater participation by regulated financial institutions in the industry. US Banks Can Now Use Stablecoins and Blockchains for Settlement In a press release issued on Monday (Jan. 4, 2020), the OCC revealed its decision to allow Federally chartered banks […]

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$200 Billion in Fines: Mega Banks Rack up Penalties From Illegal Activities

$200 Billion in Fines: Mega Banks Rack up Penalties From Illegal Activities

Top U.S. banks have racked up almost $200 billion in fines and penalties over the past 20 years from illegal activities in 395 major legal cases. Bank of America tops the list, followed by JPMorgan, Citigroup, and Wells Fargo, according to a new report, which also covers Morgan Stanley and Goldman Sachs. Big Banks’ $200 […]

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Blockchain To The Masses: Hashed Successfully Raised $120 Million

Three months after registering Hashed Venture Fund I, the blockchain-focused investment group Hashed has already raised $120 million. The organization plans to utilize the funds to invest in the blockchain space and other fintech companies focused on protocol economy. Hashed Has Raised $120M In Three Months Based in Seoul, North Korea, Hashed’s mission is to […]

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