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Stabilizing the Banking System: Biden Reassures Public Amid First Republic Bank Collapse, but Warns of National Debt Default

Stabilizing the Banking System: Biden Reassures Public Amid First Republic Bank Collapse, but Warns of National Debt DefaultAmid the collapse of the second, third, and fourth largest banks in American history, U.S. president Joe Biden reassured the public that the country’s banking system remains sturdy. However, the president also acknowledged the “threat by the speaker of the House to default on the national debt.” Biden Expresses Confidence in American Banking System Despite […]

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Bittrex Receives Wells Notice From SEC for Alleged Investor-Protection Law Violations

Bittrex Receives Wells Notice From SEC for Alleged Investor-Protection Law ViolationsAccording to a recent report, the cryptocurrency exchange Bittrex received a Wells notice from the U.S. Securities and Exchange Commission (SEC) in March, signaling a potential lawsuit. The SEC’s enforcement division sent the Wells notice prior to Bittrex deciding to wind down its operations in the United States. ‘Lack of Regulatory Clarity’ in the U.S. […]

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US Central Bank’s Fednow Payment Service to Launch in July, Economist Calls Timing ‘Suspicious’

US Central Bank’s Fednow Payment Service to Launch in July, Economist Calls Timing ‘Suspicious’According to the U.S. Federal Reserve, the central bank’s Fednow payment service will start operating in July, and participants will be certified in April to leverage the Fednow Pilot Program. Ken Montgomery, the Fednow program executive, is urging American financial institutions to make preparations to join the central bank’s new payment service. Economist Richard Werner, […]

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Bank Board Member and Dodd-Frank Co-Sponsor Barney Frank Suspects ‘Anti-Crypto’ Message Behind Signature Bank Failure

Bank Board Member and Dodd-Frank Co-Sponsor Barney Frank Suspects ‘Anti-Crypto’ Message Behind Signature Bank FailureBarney Frank, a former member of the U.S. House of Representatives from Massachusetts and leading co-sponsor of the 2010 Dodd-Frank Act, discussed his opinion on the recent failure of Signature Bank. In an interview, Frank stated that he believes regulators aimed to “send a very strong anti-crypto message.” Frank, who also serves as a Signature […]

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US Treasury and White House to Hold Regular Meetings on CBDCs and Payment Innovations

US Treasury and White House to Hold Regular Meetings on CBDCs and Payment InnovationsOn March 1, 2023, Nellie Liang, undersecretary for domestic finance at the U.S. Treasury, delivered a speech to the Atlantic Council in Washington concerning the subject of central bank digital currencies (CBDCs). Liang detailed during her speech that a CBDC is one of several options for “upgrading the legacy capabilities of central bank money,” and […]

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Bank of Russia Rejects Provision of Crypto-Related Financial Services

Bank of Russia Rejects Provision of Crypto-Related Financial ServicesRussia’s central bank has voiced opposition to the provision of financial services related to cryptocurrencies. The monetary authority believes such offerings would go against the interests of Russian investors as they are highly risky. Central Bank of Russia Unwilling to Allow Financial Services for Crypto Assets The Central Bank of Russia (CBR), known for its […]

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South African University to Commence Blockchain and Digital Currency Education in November

South African University to Commence Blockchain and Digital Currency Education in NovemberA South African university, the University of Cape Town (UCT) has revealed it will commence blockchain and digital currency classes starting in November. According to the institution, students that enroll and complete the $693 six-week course will be issued a legal certificate. Better Understanding of Blockchain As explained on UCT’s website, students that successfully complete […]

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US Treasury Department Officials Discuss ‘Risks and Benefits Posed by Stablecoins’ With Players From Financial Industry

US Treasury Department Officials Discuss ‘Risks and Benefits Posed by Stablecoins’ With Players From Financial IndustryThe U.S. Treasury Department is reported to have held meetings with participants from the country’s financial industry to discuss “the risks and benefits posed by stablecoins.” In addition, officials are said to have used the meetings to discuss “whether stablecoins would require direct oversight if they become extremely popular.” Policymakers Alarmed by Growth of Crypto […]

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Survey: Financial Sector Wants Ukraine’s CBDC to Facilitate Transactions in the Crypto Market

Survey: Financial Sector Wants Ukraine’s CBDC to Facilitate Transactions in the Crypto MarketA survey conducted among financial professionals has indicated that the industry wants Ukraine’s future digital currency to be used as a tool in the crypto space. The financial sector also favors a blockchain design for the e-hryvnia that would allow peer-to-peer transfers and fuel e-commerce. Financial Experts Define Potential Uses of Ukraine’s Digital Currency The […]

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Kazakhstan Is Preparing the Launch of a CBDC Pilot With Private Financial Companies

Kazakhstan Is Preparing the Launch of a CBDC Pilot With Private Financial CompaniesCentral bank digital currencies (CBDCs) are steadily becoming a serious discussion among governments globally, with Kazakhstan as the latest country unveiling its plans. The National Bank of Kazakhstan is making preparations to launch a CBDC pilot program soon. The National Bank Released a Public Consultation Paper According to the announcement published on their website, the […]

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