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Tag Archives: Bank

Zimbabwe’s Central Bank Bans Financial Institutions From All Crypto Dealings

Zimbabwe’s central bank has recently banned dometic financial institutions from dealing with cryptocurrencies, local media outlet NewsDay reports today, May 12. According to the report, the Reserve Bank of Zimbabwe’s (RBZ)  director and registrar of banking institutions Norman Mataruka issued a circular Friday ordering all financial institutions to terminate servicing cryptocurrency exchanges within 60 days and begin to liquidate existing ...

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Supreme Court Denies Interim Injunction Against Reserve Bank Of India Restrictions

The Supreme Court of India declined to grant an interim injunction against the Reserve Bank of India (RBI) circular banning banking services for companies dealing in cryptocurrency, according to a Twitter post by Crypto Kanoon May 11. Crypto Kanoon is a team of Indian lawyers engaged in crypto regulatory analysis and legal awareness. Supreme Court declined to grant interim injunction ...

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Bank Of Canada Says Blockchain Effective For Securities Settlements, Questions ‘Benefits’

Canada’s central bank, Toronto Stock Exchange operator TMX Group, and non-profit organization Payments Canada, completed tests showing blockchain can be used for instantaneous securities settlements, Reuters reports today, May 11. The three companies concluded that blockchain, the technology originally developed for cryptocurrencies such as Bitcoin (BTC), is usable for automating securities settlements in real time. Both cash and assets can ...

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Bitcoin a ‘Troubling’ Payment System: Bank of America Executive

Join our community of 10 000 traders on Hacked.com for just $39 per month. Bank of America remains hawkish toward cryptocurrency as a form of payment, due to its disruption of the banking sector’s regulations on transparency. Cryptocurrencies present authorities with more challenges for catching “bad guys,” a company executive said Thursday. Cathy Bessant, Bank of America‘s chief technical officer, ...

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Bank Of America CTO Calls Bitcoin ‘Troubling’, Reconfirms Credit Card Purchase Ban

Bank of America (BoA) doubled down on its decision to stop customers buying Bitcoin with its credit cards May 10. The bank’s official called cryptocurrency “troubling,” according to CNBC. Speaking to CNBC in an edition of the network’s Squawk Box segment, BoA’s CTO Kathy Bessant said that cryptocurrencies are “designed to be not transparent” and thus hinder banks’ attempts to ...

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Federal Reserve Bank of San Francisco Says Bitcoin Futures are to Blame for Price Decline

The Federal Reserve Bank of San Francisco recently issued a letter that blames the significant price decline of Bitcoin from just under $20,000 to under $10,000 on the release of Bitcoin futures. The Fed authors said that the “launch of Bitcoin futures allowed pessimists to enter the market, which contributed to the reversal of the Bitcoin price dynamics”. Previously, there ...

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CryptoBank get ahead of Bank of Russia and creates Cryptoruble – The Merkle

A few months ago the bill on regulation of the decentralized property meaning creation of own digital currency has drafted in Russia. While the Central Bank of Russian Federation progresses in realization of the idea to create a national cryptocurrency, the CryptoBank development team has made this idea a reality. The CryptoBank blockchain startup has created a Cryptoruble – a decentralized, non-volatile cryptocurrency ...

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VeriME Partners with Major Vietnamese Bank Maritime Bank

This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. VeriME, a blockchain based digital identity verification platform from Singapore, recently announced a partnership with one of the largest banks in Vietnam, Maritime Bank. The announcement comes shortly after the announcement of VeriME’s ...

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Azerbaijan’s Central Bank: Profits from Cryptocurrency Trading Must be Taxed

Azerbaijan, taking another step towards the legitimization and mainstream adoption of cryptocurrencies, has declared that the coins are subject to taxation in the country. Specifically, revenues generated by entities will face ‘profit tax,’ and individuals trading cryptocurrencies will be subject to ‘income tax.’ These clarifications come from Nijat Imanov, deputy director general of the Tax Policy and Strategic Research Department ...

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Indian Cryptocurrency Investors Remain Bullish Despite Looming Bank Ban – The Merkle

Even though the current cryptocurrency situation in India doesn’t look all that appealing, most investors aren’t too worried. There is a growing group of cryptocurrency traders who remain confident that Bitcoin and its cohorts will overcome the upcoming bank ban. Cryptocurrencies have seen many setbacks over the years, and it seems this will be another footnote in the Bitcoin annals. India’s ...

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