BANKING
Traditional Banking System Consumes Twice Energy Than Bitcoin Mining, New Research Reveals
A new study by Galaxy Digital shows that the traditional banking system uses twice the energy that Bitcoin mining consumes.
Protego Becomes the Second Federally Chartered Crypto Bank in United States
Protego, Washington state-chartered trust firm, has received a conditional approval from the OCC to become the second nationally chartered crypto bank in the U.S.
Ethereum Price Could Surge as OCC Permits US Banks to Run Nodes For Stablecoins
A recent announcement by the Office of the Comptroller of the Currency (OCC) has provided a mainstream catalyst that could see the ETH price rally to new all-time highs.
OCC Says US Banks Can Use Blockchains and Stablecoins in Bank Payments
According to the OCC, regulated banks in the US can leverage stablecoins to conduct payments as well as participate as validator nodes on blockchain networks called INVNs.
UK FCA Regulator Announces “Temporary Registration Regime” Extending Operating Deadline for Crypto Firms
The UK’s FCA has just announced a “temporary registration regime” which allows crypto firms who have previously applied to continue operating until July 2021.
German Legacy Bank Hauck & Aufhäuser to Debut Crypto Investment Fund in 2021
Germany’s legacy bank with over 222 years of financial services tradition Hauck & Aufhauser will be launching a cryptocurrency fund in January 2021.
Democrats Critical of OCC's "Excessive Focus" on Crypto and Stablecoin Financial Services
Democrat members of the United States Congress led by Congresswoman Rashida Tlaib (D-MI) have criticized the OCC's focus on crypto and stablecoins.
OCC Head Brian Brooks Testifies Before Senate On Cryptocurrency and Stablecoins
The OCC Boss, Brian Brooks has testified before the US Senate Banking Committee about the growing use of cryptocurrencies and stablecoins in the country
Reserve Bank of Australia Will Explore Wholesale CBDC with ConsenSys Ethereum POC
The Reserve Bank of Australia has partnered with leading Australian banks and ConsenSys Software to explore wholesale CBDCs and distributed ledger technology (DLT).
EY-Led Consortium Submits Bid To Help Develop South Korea's CBDC
A consortium led by Ernst & Young has made the first and only bid to construct the business model for the Bank of Korea’s Central Bank Digital Currency project.
Leading Vietnamese Bank Joins RippleNet to Boost Cross-Border Remittances
Orient Commercial Joint Stock Bank (OCB), a large Vietnamese bank with assets worth $4.6 billion, has joined RippleNet as a strategic partner after a 10-month wait.
UK Media Mogul Calls DeFi a Revolution Against Corrupt Global Banking System
Alexander Lebedev, the billionaire UK media mogul and former banker has endorsed the revolutionary power of DeFi against a corrupt global banking system.
US Senator Pat Toomey Eyes Senate Banking Committee Chair and Digital Currency Regulations
United States Senator Pat Toomey said he will take on digital currency regulation and payments reforms should he become the Senate Banking Committee’s next chairman.
Thailand Blockchain Community Partners with IBM to Expand $300M Electronic Letter of Guarantee Platform
Thailand Blockchain Community Initiative (BCI) has joined hands with IBM to extend the scope and reach of the blockchain-powered electronic letter of guarantee.
FinCEN Director Kenneth Blanco Warns Banks to Take Crypto AML Seriously
Kenneth Blanco, the Director of the FinCEN warned banks to seriously consider how virtual currencies should fit into their anti-money laundering (AML) policies.