Finance

China’s Digital Yuan is a Trojan Horse With Plenty of Potential Repercussions

The global focus continues to shift toward China’s digital currency plans. Despite a genuine lack of information, it certainly poses many different threats.  Rumors regarding a digital yuan have persisted for years now. China’s Digital Yuan is More Than Just a CBDC Only a few months ago, it became apparent this was more truth than...
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Apple Takes Offense to Users Accessing DApps Through the App Store

Technology giants can make or break the cryptocurrency ecosystem. For reasons unknown, Apple is not necessarily intent on playing fair. It appears that Apple takes offense to how Coinbase provides a DApp browser. Another Curious Apple Development Accessing decentralized applications is crucial to the survival of most alternate cryptocurrencies. Coinbase, as one of the leading...
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Will India Change its Negative Cryptocurrency Stance Soon?

The cryptocurrency situation in India remains very difficult to assess. Most government officials want nothing to do with bitcoin, but can they avoid the inevitable? As far as Indian Parliament member Dr. Subramanian Swamy is concerned, embracing cryptocurrency is a must. India Might Push to Adopt Cryptocurrencies Soon He is one of the few people...
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Venmo Users Still Can’t Link PNC Bank Accounts Properly

Trouble appears to be brewing in the finance industry. Venmo and PNC Bank are in a spat regarding some complaints by users. For a while now, PNC customers have had issues when linking their bank accounts to Venmo. Venmo and PNC Continue to Bicker Although this could be  a temporary bug, the situation deteriorated quickly....
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Mainstream Investment Vehicles Tied to Cryptocurrencies Grow Exponentially

These days bitcoin and a variety of other digital assets are now being traded as funds and traditional equity holdings. The landscape of crypto investment vehicles has changed significantly as institutional and retail investors don’t need direct exposure to cryptocurrencies in order to invest in this technology. Also Read: Gocrypto SLP Token Starts Trading on...
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Dozens of Japanese Banks Join JPMorgan’s Blockchain Network

Banks around the globe are looking to experiment with innovative technology. Primarily Japanese financial institutions are eager to experiment with blockchains.  It is for that specific reason several dozen institutions will become part of JPMorgan’s DLT network.  More Blockchain Exploration in Japan Japan is a country where blockchain ventures in the financial sector are not...
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Cryptocurrency Funds are Still in an Awkward State in 2019

It has not been a good year for cryptocurrency funds, depending on how one interprets the new reports coming out. From a longevity point of view, the current statistics are borderline alarming. The State of Cryptocurrency Funds in 2019 Several dozen crypto funds have shut down throughout 2019, primarily due to very little price action...
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How to Plan for the Life You Want

Making enough money to care for you and the ones you love is tricky business, yet nearly everyone is at least trying for this near impossible goal. But as many as 2 out of every 3 Americans aren’t confident about their finances. 36% feel that their relationship with money is positive, 33% feel worried, and...
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Crypto-Focused Lender Blockfi Launches Trading Platform

Crypto financial services company Blockfi has launched a trading platform supporting three cryptocurrencies. The new offering adds to the company’s existing services: interest-bearing accounts and crypto-backed loans. Blockfi has completed registration with the U.S. Financial Crimes Enforcement Network and expanded its state licenses to cover both lending and money transmission. Also read: Bitcoin ATMs Installed...
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Germany Inches Closer to Nation-wide Negative Interest Rates

Financial trouble has been brewing across the Euro zone for some time. Germany is one of the first countries to force its negative interest rates upon regular consumers. Many people aren’t aware of how all European countries have dealt with negative interest rates for years. Negative Interest Rates are Problematic The ECB has been forcing...
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Will Crypto Save Iran from a Financial Crisis?

Iran is inching closer towards the financial crisis due to sanctions, but the country might still turn to cryptocurrencies for help. Iran is in a bad place right now, as the US officials state that the country’s finances might be in a worse situation than they believed. The country’s damaged economy has been sparking protests...
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European Banks Struggle With Low Interest Rates and Strict Regulations

Banks in Europe have been in a difficult spot lately. A new report reveals that financial institutions across the region faced serious difficulties in the 2018 financial year, and despite all the cost cutting that followed, haven’t managed to compensate the revenue decline in 2019. Historically low interest rates, new regulatory hurdles and competition from...
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Swiss Licensed Crypto Bank Expanding Into 9 Markets

A fully operational crypto-focused bank based in Switzerland is expanding into nine other markets. With a banking and securities dealer license from the Swiss Financial Market Supervisory Authority, its services include crypto custody, trading, and asset management. The bank has launched its investment business including a cryptocurrency index. Also read: Swiss Crypto Bank SEBA Launches...
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Poland Buys Back 100 Tons of Gold From the Bank of England

Poland is one of the world’s biggest producers of gold. In a new turn of events, the government decided to flex its financial muscles through an intriguing acquisition.  Most economies around the globe are struggling or in shambles. Poland Stock up on Gold Poland is one notable exception, at least where the official figures are...
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Mastercard Will Prevent Free Trials From Turning Into Automatic Subscriptions

Credit and debit cards are convenient, yet they lack some crucial features. Mastercard had high hopes for automatic billing, but that feature has now been officially removed. Setting up recurring payments is one of the reasons why debit and credit cards have become so successful. A Smart Business Decision by Mastercard It now appears that...
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Swiss Crypto Bank SEBA Launches With Range of Services

SEBA Bank is now fully operational with a range of services to bridge the gap between the crypto world and traditional banking. Licensed in Switzerland, the bank’s crypto services include asset management, trading, custody, and financing. Its wallet app, e-banking, and card enable customers to convert between cryptocurrencies and traditional investments such as stocks, bonds,...
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Financial Inequality Makes a Green Diet Impossible for 20% of the Earth’s Population

Whereas climate scientists want more people to eat greener, that vision might not be viable. The cheapest way of living on a green diet is still too expensive for 20% of the world’s population.  It is well-known how most humans are actively contributing to the climate change problems through their eating habits.  A Green Diet...
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Holders of the Digital Yuan Will Not Be Paid Interest

China has been sending mixed signals about its preparedness to issue a national crypto. Despite the new blockchain push, there is still no timeframe for the anticipated launch of the digital yuan and few details have been revealed so far. However, a senior official from China’s central bank pulled the curtain back slightly this week....
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Crypto-Friendly Silvergate Bank IPO Debuts on NYSE

The U.S. Securities and Exchange Commission (SEC) has declared the IPO of pro-crypto Silvergate Bank effective. Its shares started trading on the New York Stock Exchange on Thursday. The crypto-friendly bank works with 756 customers in the crypto space, including Coinbase, Gemini, Circle, Bitstamp, Kraken, and Bittrex. The bank has attributed significant growth to its...
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Square’s Bitcoin Sales Volume Has Increased Sixfold Since Q1 2018

Getting more people interested in Bitcoin remains a big hurdle to overcome. Square, the popular financial services provider, is doing its part to make this happen. Thousands of financial service providers exist around the world. Some of them explore options outside of traditional finance.  Another Good Quarter for Square Square is one of those providers,...
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New Hire to Head Digital Currency Research at the US Fed

The United States Federal Reserve is looking to employ a Manager, Retail Payments, part of whose responsibilities will be to oversee the research of digital currencies and distributed ledgers. The job ad has been published amid pressure from Capitol Hill to explore the possibilities of issuing a digital dollar. Also read: Why Central Banks Are...
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3 Smaller US Banks Failed Over the Halloween Period

A worrisome banking situation arises in the United States. In a matter of seven days, three banks have failed. The latest victim is City National Bank of New Jersey located in Newark. The past few years have not been easy for traditional banks. Their costs often outweigh profits, forcing them to make tough decisions. Those...
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Will the US Repo Markets Trigger a Bitcoin Bull Run This Year?

Many factors can influence the current and future value of Bitcoin. Finding reliable correlations is always a bit iffy. According to some, the current repo market problem in the US will spark a new Bitcoin bull run. Financial markets are, for the most part, correlating with one another. Bitcoin and other cryptocurrencies are often considered...
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CME Group Publishes Bitcoin Options Specifications

In mid-September, the foreign exchange company CME Group announced the launch of options on its bitcoin futures contracts in Q1 2020, pending regulatory review. CME Group executive Tim McCourt said there was “increasing client demand” for the firm’s bitcoin derivatives and now the company has published specifications for the options products. Also Read: French Ministry...
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Indian Crypto Trading Volumes Accelerate on Positive Sentiments

Cryptocurrency trading volumes in India have accelerated despite regulatory uncertainty and banking restrictions imposed by the Reserve Bank of India (RBI). Global trading platforms and service providers have also been expanding their operations to serve Indian users. Also read: Mistakes Crypto Owners and Traders Should Avoid Strong Trading Volume Growth Banking services may be restricted...
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McKinsey: Majority of Banks May Not Be Economically Viable

Management consulting firm McKinsey & Company has published a global banking review and found that a majority of banks worldwide may not be economically viable. More than half of them still do not generate their cost of equity 10 years after the crisis and may not survive an economic downturn. Also read: FATF Starts Checking...
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Belarusian Bank Gets the Go-Ahead to Service Crypto Investors

A bank in Belarus has effectively gotten the green light to process transfers related to digital assets. DFS, an affiliated company of Belveb Banking Holding’s member VEB Technologies, was recently registered as a resident of the High Technologies Park. The country’s special economic zone has already become home to many crypto businesses. Also read: Bittrex...
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How Centralized Payment Systems Learned to Accept Decentralized Cryptocurrency

They might not be shouting it from the rooftops, but fiat payment gateways are no longer the enemy of bitcoin. Hostilities have ceased, the bad blood has been let, and today the fiat and crypto worlds are bridged and doing business. Despite the two systems sporting opposing aims and architecture, many centralized payment processors have...
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Cashaa Launches Banking Solution for Indian Crypto Owners

Banking services platform Cashaa is offering a solution for Indian crypto owners facing banking restrictions imposed by the country’s central bank, the Reserve Bank of India (RBI). The service allows users to deposit up to 1 crore rupees (~$141,012) per month to purchase cryptocurrencies. Also read: Indian Finance Minister Answers Crypto Questions at IMF Meeting...
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Fed Research Considers Negative Interest Rates Effective Policy Tool

A research paper published by the Federal Reserve Bank of San Francisco shows how negative interest rates could become an important policy tool for fighting future economic downturns. The paper examines the market response to the introduction of negative interest rates by five major central banks. Also read: Where US Regulators Stand on Cryptocurrency Fed...
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