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Switzerland’s financial regulator is not satisfied with the emergency plans of two of the Alpine nation’s five major banks. The assessment refers to a period prior to the rescue of Credit Suisse by UBS when the authority viewed the troubled giant’s preparedness in positive terms. 2 Swiss Banks Unable to Implement Recovery Plans, Finma Finds … Read more
During the first week of 2023, payment service giant Paypal said it was exploring the launch of a stablecoin. At the time, an executive at Paypal stated that if the company moved forward, it would work closely with financial regulators. However, on Feb. 10, a source noted that Paypal has put the concept on hold … Read more
Leading cryptocurrency lender Nexo has offered to buy distressed competitor Vauld, which halted operations in the face of financial difficulties. The proposal comes after the Singapore-based company said it was exploring restructuring options. Nexo Secures Exclusive Agreement to Explore Vauld’s Acquisition Singapore-based crypto lending and trading platform Vauld, which announced suspension of withdrawals and other … Read more
The digital currency cardano has jumped over 8% in value during the last 24 hours and 25% over the last seven days. The price move follows an update on Charles Hoskinson’s and IOHK’s plans for the Cardano network in 2022. Charles Hoskinson’s 2022 Cardano Outlook: ‘A Formal Open-Source Project Structure Is Going to Be Formed’ … Read more
A number of third party infrastructure providers have announced contingency plans for the upcoming Bitcoin Cash upgrade on November 15, 2020. Hitbtc has revealed the exchange’s plans to halt bitcoin cash transactions on that day, and it plans to credit all users with an additional token if a blockchain split happens. Additionally, Kraken has announced … Read more
Establishing a “national mining pool” has been declared a priority in Uzbekistan. Miners who join the pool will enjoy lower electricity rates, announced the country’s agency overseeing the crypto industry. The Central Asian nation is also preparing to launch a licensed cryptocurrency exchange, where miners will be able to sell the coins they have minted. … Read more
Japan’s GMO Internet has unveiled new priorities for its cryptocurrency business along with the performances of its crypto exchange and mining operations. The changes going forward result from the bear market and increased total hash rate. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space GMO Coin Profits Up 7.3-Fold Japanese internet giant GMO published … Read more
Japanese exchange Bitflyer is on a hiring spree, trying to tap talent from Wall Street. The company says coders can make $100,000, and plenty of employees earn $200,000. Besides already operating in three regions, the exchange is expanding into additional countries and adding more services. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Number … Read more
The majority of South Korean cryptocurrency exchanges are implementing new self-regulatory rules and performing self-inspection. The industry group in charge of leading the efforts has clarified the differences between the new and old self-regulatory rules for its 23 exchange members. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales Promoting Safe … Read more
The Bermuda Monetary Authority has issued a consultation paper on draft regulations pertaining to “virtual currency businesses” and initial coin offerings (ICOs). The proposed bill seeks to create a framework that encourages and fosters the development of Bermuda’s nascent cryptocurrency industry. Also Read: 16 Government-Approved Crypto Exchanges Have Formed Self-Regulatory Group in Japan Bermuda Reveals Regulatory … Read more
