A crypto exchange-traded product (ETP) provider, Valour, has announced that it would issue crypto products to German banks. Accordingly, the two large German banks, Comdirect and Onvista, will provide their retail clients with crypto products. The crypto asset management company has partnered with German banks to allow their customers to integrate the Valour ETP as…
Since the advent of digital currencies, various institutions have been exploring their potential. Various institutions, including central banks, have supported using these nascent technologies for payment. This is due to the ease of usage, speed, and financial inclusion it offers even to unbanked citizens. Meanwhile, central banks and other financial institutions are exploring the usage…
According to reports, a recent innovation with a cellular network could allow millions of users to trade BTC. This includes those who could not use BTC due to a lack of internet connections. The latest technology does not use a data connection to operate. Kgothatso Ngako, a developer in South Africa, has developed a tool…
The Director of Brazil’s central bank, Fabio Araujo, has lauded Bitcoin’s properties. He referred to the flagship currency as the catalyst for Web3 development. According to the Director, BTC is a financial asset that uses modern technology. He made this statement while speaking at an event sponsored by a Business School in Sao Paolo. Furthermore,…
Today, Israel has imposed further restrictions on the usage of cash for payment. The aim is to reduce the case of illegal activities and increase the usage of digital payment options. Israel Government Pushing Citizens To Embrace Digital Payment In January 2019, the government subjected Israeli consumers and businesses to cash payment limits. It also…
On July 29th, FZE, the sister company of crypto platform FTX, received the first MVP (Minimal Viable Product) license to operate in Dubai. This would give FZE permission to operate fully in the country. FZE Receives MVP License To Operate Fully The MVP license was issued by the country’s regulator, the VARA (Virtual Asset Regulatory…
A Senator in the United States has sent a letter to the CEOs of popular companies, Google and Apple. In the letter, the senator asked them to help tackle the issue of fraud using fake cryptocurrency apps. Both platforms have app stores where users can upload applications for others to download. The senator asked both…
The CBK (Central Bank of Kenya) is working on issuing a digital Shilling. This shows that Africa is gradually opening up to the adoption of CBDCs. However, the IMF has warned that Kenya’s CBDC could limit private digital currencies. Also, it could harm banks and fintech firms by stealing their customers. Hence, the IMF has…
Although the crypto market has been on a bearish run, several companies continue to invest in crypto-based firms. However, reports show that the bearish market has reduced the number of funding for crypto firms. Global financial company, Barclays PLC, has stated that it would invest funds in the crypto company Copper. This investment is part…
The US FTC (Federal Trade Commission) had submitted a lawsuit against Mark Zuckerberg and Meta. The lawsuit aims to prevent the social platform from owning the metaverse. The FTC alleged that Meta’s potential acquisition of Within, a VR firm, and Supernatural, a fitness app, is illegal. The commission cited the antitrust laws in the US,…
Bankrupt cryptocurrency platform Voyager Digital is working on resuming withdrawals on its platform. According to the firm, it has sent permission to the court to allow users to withdraw their balance. Meanwhile, FTX exchange has offered to help the platform with the withdrawal process. FTX offers to allow the customers of Voyager to withdraw using…
As technology continues to advance, the issue of cybersecurity becomes more crucial for companies. This is due to increased fraud and data theft going on the internet. As a result, the CEO of PolySwarm firm, Steve Bassi, has called on firms to embrace blockchain technology for improved cybersecurity. PolySwarm’s CEO Highlights The Need For Blockchain …
The latest report shows South Korea has decided to delay its crypto tax implementation. The government had initially issued a 20% crypto tax that will become effective next year January. However, the government has delayed the date until 2025. South Korea Delays 20% Crypto Tax Till 2025 Officials of the state announced the postponement on…
After launching the eNaira about nine months ago, the adoption rate is still shallow. Meanwhile, the CBN (Central Bank of Nigeria) governor, Godwin Emefiele, blamed commercial banks for the low patronage. Additionally, he stated the banks do not like the idea of a CBDC. This is because the increased usage of the eNaira will not…
The financial regulator in Colombia has submitted a proposal for crypto regulation. The proposal contains a set of rules that will guide VASPs (virtual asset service providers) and their operations with banking firms. According to the country’s Financial Superintendence, this proposal will clarify VASPs operations. The draft provides the definition of some key concepts. Furthermore,…
According to the British Financial Conduct Authority (FCA), the United States and the United Kingdom will boost their cooperation on cryptocurrency regulation. The FCA noted that before now, most businesses would have argued for lesser regulation. However, recent occurrences have changed their minds. Now, these investors value and recognize the fact that regulations exist to…
In 2022, cryptocurrency has received widespread acceptance and integration across the world. Currently, PicPay, a Brazilian digital payment firm, is at cryptocurrencies. According to reports, it just launched an exchange platform, a cryptocurrency unit, and a stablecoin. With the introduction of a stablecoin and fully-functional crypto exchange, PicPay is completely embracing the crypto vortex. It…
The Deputy Governor of the SARB (South African Reserve Bank) recently stated that the organization had revised its stance on crypto. Currently, the central considers crypto to be financial assets. As a result, it is working on regulations to guide their usage. By 2023, the SARB plans to have a set of principles for cryptocurrencies…
In the past month, the issue of regulation has been a significant debate globally. Meanwhile, Gary Gensler, the chairman of the US SEC (Securities and Exchange Commission), commented on securities regulations recently. He said the watchdog might exempt cryptocurrency firms from some securities regulations. This aims to ensure that crypto firms comply with its regulations….
Several financial regulators have been clamping down on the crypto sector in recent months. This is in an effort to control the new and mostly unregulated asset. Currently, Hong Kong is revising its anti-money laundering laws to include cryptocurrencies. This amendment is due to the increased usage of crypto in the state. On July 13th,…
