Adoption of Blockchain-based IDs Phasing Out Physical IDs Security Token Regulation South Korea’s Financial Services Commission (FSC) published new guidelines on Monday stating that FSC will regulate digital securities or blockchain-based tokenized assets according to the capital market rules. The highly anticipated regulations are to institutionalize with the legislators of the country’s National assembly laying […]
2022 wasn’t a lucrative year for the cryptocurrency industry, following massive crashes and bankruptcy filings that restricted growth on any token. Though this year hit digital assets hard, some assets showed resilience, recording notable price moves – better than others. Let’s check the list. Ethereum Classic (ETC) Unlike ETH2.0, which arrived after the ETH merge, […]
Bank-Fried’s Friday tweet confirmed he’s willing to testify before the United States House Committee on Tuesday next week. Meanwhile, SBF is encountering several investigations associated with FTX’s fall. FTX empire crashed following massive exchange withdrawals following revelations about Alameda, FTX’s sister firm. News about the former FTX chief executive officer Sam Bankman-Fried continues to flood […]
The new British government is characterized by its severance to caution when it comes to its economic administration and its readiness to devote itself to performing just causes, regardless of the financial toll on the political sector. As its precursor, Liz Truss, in September, decided to divide Britain’s economic organization, and the event exposed enormous […]
Genesis Global Capital has stopped processing withdrawals, confirming this week’s rumors. This is the most current lending program to file for bankruptcy. In 2022, Celsius Network, Voyager Digital, and other companies did so. At the moment, Derar Islim is Genesis’ acting CEO. Islim told Investors that the firm is looking at its options and seeking […]
Several countries in the G20 organization, the U.S, India, and the EU, have promised to create a robust global economic recovery by providing more employment and encouraging development. The proclamation made by the G20 Bali governors comes after the summit, which discussed solutions to the dilapidating economy, attended by some of the top global rulers. […]
The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) has awarded Binance the Financial Services Permission (FSP) status. As a result, Binance, the world’s largest cryptocurrency exchange, is set to begin offering custody services in ADGM. Binance’s Plans to Expands into The Middle East Binance has gotten the green light to […]
In recent news, MoneyGram has incorporated digital assets exchange for its US subscribers. In this update, the financial institution temporarily supported digital assets like BTC, ETH, and LTC. The firm has also stated goals to accept multiple cryptocurrencies and extend the operation to more regions in the long term. Updates on MoneyGram’s Latest Service Addition […]
When fiat and cryptocurrency withdrawals were temporarily disabled on the Liquid Global platform on November 15, the FTX-owned cryptocurrency exchange Liquid announced this on Twitter. Liquid Suspends Deposits The collapse of crypto firms associated with Sam Bankman-Fried has already had a severe rippling effect on various organizations inside the ecosystem. For example, the CEO of […]
The market’s reaction to the news that a missile that hit a small town in Poland wasn’t launched from Russia was muted Wednesday. It resulted in weaker-than-expected readings on retail performance from Target TGT offset market relief. Biden: Missile Not Shot From Russia An American government official informed the Associated Press that the missile landed […]
Analysts have made projections of a possible change in trajectory if somehow the ECB increases premiums more slowly than anticipated, this pattern could counteract in 2023 and make European junk organizational securities an appealing investment. The Potential Plans of the Feds Lately, the American economy has displayed far more consistent indications of vitality than that of […]
On Monday, the French and German central bank governors released a joint statement. According to the joint statement, advancing a financial markets union to fund green and digital transformations is more crucial than ever. The step has become more urgent and essential as a result of the energy crisis, inflation, and the conflict in Ukraine. […]
The Dollar’s decline on Friday maintained Thursday’s trend. According to data, consumer inflation in the U.S. increased by 7.7% over the previous year in October. This was below the anticipated 8% growth rate and was the weakest pace since January. The Value of The Dollar Has Dropped The U.S. Dollar has decreased by around 3.8% […]
The New York Innovation Center, as part of the Federal Reserve Bank of New York and Singapore’s Central Bank (MAS), has jointly announced their plans to work together to assess the efficacy of large-scale central bank digital currencies (wCBDCs). Central Bank Digital Currency (CBDC) is a form of digital fiat money that has previously been […]
According to the sentiment index released Friday, 11th November, consumers are significantly less optimistic about the current status of the economy and the economy’s prospects due to elevated interest rates, a likely recession, and consistently increasing prices. In November, the University of Michigan Survey of Consumers reported a value of 54.7, which was 8.7% lower […]
Due to the broad contagiousness, authorities in Cyprus are considering removing FTX’s authorization to conduct digital asset trading in Europe. Sam Bankman-Fried’s exchange would be in grave jeopardy if this took place. CySec May Revoke FTX EU’s Crypto License FTX received an “operational license” in July. This came after getting permission from the Cyprus Securities […]
The European Commission forecast disclosed on Friday, 11th November, that the Eurozone Gross Domestic Product will rise more than anticipated in 2022 and will also see a significant decline more than expected in 2023. However, the 2023 downturn will only affect eurozone jobs and public finances. According to the EU commission’s forecast, Eurozone Gross Domestic […]
The worst stage of the post-pandemic rate hikes appears to be over, following reports of a better-than-expected decline in the U.S. annual inflation rates in October. The startling results have bolstered the likelihood that the ongoing interest rate hike cycles, which were implemented to fight inflation but are now steadily deteriorating the economy and raising […]
The average rate on 30-year fixed mortgages returned to its previous 20-year highs when rates crossed the 7% threshold two weeks ago for the first time in two decades. According to Bankrate’s national survey of large lenders, the average rate on 30-year mortgages increased by 0.13% over the past week, pushing rates from 6.95% to […]
The worst stage of the post-pandemic rate hikes appears to be over, following reports of a better-than-expected decline in the U.S. annual inflation rates in October. The startling results have bolstered the likelihood that the ongoing interest rate hike cycles, which were implemented to fight inflation but are now steadily deteriorating the economy and raising […]
