Banks and Fintech | ForkLog

ForkLog 19 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 55 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 16 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 34 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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ForkLog 11 19.07.2024

Hong Kong’s ZA Bank to Partner with Stablecoin Issuers

Hong Kong’s virtual bank ZA Bank will provide reserve services for stablecoin issuers. According to its representatives, the bank is in talks with ten companies regarding potential partnerships. ZA Bank, the largest virtual bank in Hong Kong, announced that it will provide reserve bank services for stablecoin issuers and is currently negotiating cooperation with nearly […]

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ForkLog 20 12.07.2024

US Congress Fails to Override Biden’s Veto on SAB 121 Repeal

On July 11, the US House of Representatives fell short of the two-thirds majority needed to override President Biden’s veto on legislation to repeal SAB 121. The document effectively prohibited banks from holding digital assets on their balance sheets, reports The Block. The bulletin remains in effect. A total of 228 congressmen voted for its […]

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ForkLog 38 27.06.2024

Coinbase Sues SEC and FDIC Over Lack of Transparency

The exchange accused regulators of failing to comply with the Freedom of Information Act. The company perceived the actions of the agencies as a targeted campaign against the digital asset industry. Coinbase has filed a lawsuit against the SEC and the FDIC over their attempts to “cut off” the crypto industry from the banking sector, […]

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ForkLog 33 24.06.2024

McKinsey Projects Tokenized Asset Market to Reach $1.9 Trillion by 2030

The volume of tokenized assets is projected to reach $1.9 trillion by 2030, despite a “cold start,” according to McKinsey. In a more optimistic scenario, this figure could double, though analysts have become more skeptical about its likelihood. A pessimistic outlook suggests growth to $0.8 trillion. Source: McKinsey. Experts noted that tokenization has gained “significant […]

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ForkLog 35 18.06.2024

Chinese Bank Executives Accused of Laundering $250 Million via Cryptocurrency

The private Chinese institution, Bank of Huludao, has uncovered a scheme involving the theft and laundering of 1.8 billion CNY (~$250 million) belonging to investors, implicating two of its senior executives. This was reported by The National Business Daily, citing court documents. According to the case materials, in August 2020, the bank’s former party secretary, […]

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ForkLog 11 16.06.2024

El Salvador’s President Proposes Bitcoin Investment Bank

El Salvador’s President Nayib Bukele has proposed the establishment of private investment banks in the country, which, if approved, would offer financial services to investors in the leading cryptocurrency. This was reported by Cointelegraph. “As part of our economic plan for El Salvador, we propose a Bank for Private Investment, where we can diversify the […]

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ForkLog 11 14.06.2024

Swiss Regulator Declares FlowBank, Linked to CoinShares, Bankrupt

The Swiss Financial Market Supervisory Authority (FINMA) has initiated bankruptcy proceedings against the local online bank FlowBank. #FINMA eröffnet Konkurs über die FlowBank SA: https://t.co/DGxN8mzde5Informationen zum Konkursverfahren stellt die FINMA auf ihrer Webseite zur Verfügung: https://t.co/S00N1ASeVo pic.twitter.com/NkCOi88mB3 — Eidgenössische Finanzmarktaufsicht FINMA (@FINMA_media) June 13, 2024 “This measure became necessary because the bank no longer has […]

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