G7 leaders establish digital currency guidelines for central banks
This week, the Group of Seven (G7) advanced economies discussed central bank digital currencies (CBDCs), deciding that they should “do no harm” and adhere to strict guidelines. On Oct. 13, G7 finance officials gathered in Washington to discuss central bank digital currencies and adopted 13 public policy guidelines for their deployment. The G7 countries, which […]
How the Luxury Bank’s Unique Concept Will Transform the Industry
Banks and other traditional organisations have a tendency to discriminate against bitcoin users, which is why the Luxury Bank was formed. New developments in this market continue to drive demand for platforms that have the capability of harvesting the full amount of power available from cryptocurrencies, DeFi, Non-Fungible Tokens (NFTs), and other types of digital […]
Industry says Basel draft rules make crypto too expensive for banks to trade
According to industry organisations, proposed rules would render “bank involvement in the cryptoasset market cost-prohibitive from a capital perspective,” according to a report to regulators. An open letter to the Basel Committee on Banking Supervision (BCBS) has been sent by nine banking industry organisations in reaction to the BCBS’s plan to impose strict capital requirements […]
Pundits weigh in on the potential implications of Evergrande ‘s bankruptcy
When it comes to the possibility of Chinese real estate behemoth Evergrande defaulting on its $305 billion in debt, pundits are speculating on how the firm’s insolvency would affect the legacy and cryptocurrency markets, respectively. When it comes to Bitcoin mining, Marty Bent , the co-founder of Bitcoin mining firm Great American Mining, is delighted […]
US-Canadian citizen gets 11 years in prison for his role in a North Korean crypto hacking scheme
Ghaleb Alaumary aided North Korean hackers in the laundering of millions of dollars, including by exchanging cash for cryptocurrencies. A Canadian-American person who used wire transfers and crypto exchanges to launder funds for North Korean military hackers was sentenced to 11 years in prison and ordered to pay $30 million in restitution by a US […]