Banks and Fintech | ForkLog

ForkLog 9 15.10.2024

FinCEN Fines TD Bank $1 Billion for Facilitating Cryptocurrency Money Laundering

The Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department found that TD Bank failed to report suspicious cryptocurrency-related activities amounting to nearly $1 billion. According to the agency, over nine months, the bank processed transactions for a company identified in the plea agreement as Customer Group C. When opening the account, the firm […]

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ForkLog 12 01.10.2024

Bank of Russia to Scrutinise Cross-Border Bitcoin Transfers by Citizens

The Bank of Russia has mandated 19 financial institutions to examine cross-border transfers by resident individuals related to cryptocurrency purchases. This is outlined in the regulator’s approved inspection programme for late 2024 to early 2025. The regulator aims to assess the volume of digital currency transactions, particularly stablecoins, conducted by Russians abroad. From October to […]

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ForkLog 13 26.09.2024

US Authorities Allegedly Targeted Bitcoin-Friendly Silvergate Bank

Silvergate Bank might have continued its operations if not for the voluntary liquidation it was forced into under pressure from American regulators, according to Castle Island Ventures partner Nic Carter. My latest in @PirateWires: Inside the Biden Admin’s Plot to Destroy Silvergate and Debank Crypto for Goodhttps://t.co/qGsSoi3aCG — nic carter (@nic__carter) September 25, 2024 “Silvergate […]

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ForkLog 52 25.09.2024

BNY Mellon to Expand Custodial Services to Spot Bitcoin ETFs

The Bank of New York Mellon, with AUM of $50 trillion, plans to enter the custodial services market for spot exchange-traded funds based on Bitcoin and Ethereum, representatives of the bank told Bloomberg. The agency noted that such a move could threaten Coinbase’s dominant position. The Bitcoin exchange serves as the custodian for most products, […]

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ForkLog 33 12.09.2024

Russia’s Central Bank Sets Timeline for Digital Ruble Access

By July 1, 2025, Russia’s largest banks are required to offer clients access to digital ruble operations, including account opening, funding, and transfers. The Central Bank of Russia has submitted the relevant proposals for legislative amendments to the Ministry of Finance. Other banks with a universal license have until July 1, 2026, to update their […]

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ForkLog 18 27.08.2024

Ukraine’s Central Bank Sets Limits on P2P Transactions

Starting October 1, the National Bank of Ukraine will impose restrictions on outgoing P2P transfers between individuals for a six-month period. The limit is set at 150,000 hryvnias per month and applies to all accounts held by a client within a single bank. The restrictions do not apply to volunteers meeting the regulator’s criteria or […]

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ForkLog 8 14.08.2024

Goldman Sachs and DRW Reveal Crypto ETF Holdings

Investment bank Goldman Sachs and trading firm DRW Holdings have disclosed in their filings to the SEC the addition of cryptocurrency-related exchange-traded funds to their portfolios. As of the end of July, the former institution held shares in spot BTC-ETFs from BlackRock, Fidelity, Grayscale, Invesco Galaxy, Bitwise, WisdomTree, and Ark 21Shares, valued at $418.7 million. […]

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ForkLog 16 13.08.2024

Ukraine’s P2P Transaction Limits Threaten Crypto Market, Say Experts

Ukraine’s National Bank aims to finalise a draft decision on limiting the number of P2P transactions for individuals by the end of the week. This was stated by the head of the regulator, Andriy Pyshny, in an interview with Ekonomichna Pravda. The document will introduce limits on card-to-card transfers between individuals. It is expected that […]

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ForkLog 18 09.08.2024

Donald Trump Jr. Unveils Platform Aiming to Challenge Banks

Donald Trump Jr. has disclosed details of a cryptocurrency and DeFi-related project he announced the previous day, according to Cointelegraph. The platform aims to address inclusivity issues regarding access to financial services. “We want to take on a large part of the banking world. I think there is a great inequality in that only certain […]

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ForkLog 46 03.08.2024

Morgan Stanley to Offer Bitcoin ETFs to Clients

Fifteen thousand financial advisors at Morgan Stanley will offer exchange-traded funds based on the leading cryptocurrency to their clients, according to CNBC, citing sources. The funds in question are IBIT from BlackRock and FBTC from Fidelity. The offering will be available to clients with a net worth of at least $1.5 million starting Wednesday, August […]

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ForkLog 12 31.07.2024

M2 to Enable Bitcoin Purchases via Bank Accounts in UAE

The M2 platform, registered with the FSRA, will allow clients to trade cryptocurrencies directly from their bank accounts, as reported by Cointelegraph. Users can exchange Bitcoin and Ethereum for dirhams and vice versa. There is also an option for depositing and withdrawing funds in the national currency. The company believes that the new integration will […]

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ForkLog 27 25.07.2024

Revolut Secures UK Banking Licence

Fintech firm Revolut Ltd. has secured a preliminary banking licence from UK regulators. This will allow the company to enter a mobilisation phase to test systems and gradually roll out new services. Once restrictions are lifted and a full licence is obtained, Revolut will become a fully-fledged online bank, able to offer overdrafts, loans, and […]

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