OKX and Bybit Suspend Cooperation with Large Russian Banks
Russian users of crypto exchanges Bybit and OKX will now no longer be able to withdraw funds to accounts with Sberbank and Tinkoff Bank.
FDIC: Cryptocurrencies Pose Risks to Banking System
The FDIC has noted in its annual review the potential for new and complex risks to the US banking system from crypto-related activities, citing fraud, legal ambiguities, misleading statements, and vulnerabilities in risk management.
Hang Seng Bank Limits Crypto Companies to Simple Accounts
Despite the Hong Kong government making efforts to establish the territory as a crypto hub, local crypto companies are having difficulty in securing corporate bank accounts.
Major Banks Are Beginning to Acknowledge BTC’s Potential: Michael Saylor
Michael Saylor, CEO of MicroStrategy, has recently expressed his conviction that major banks are beginning to acknowledge the huge potential of Bitcoin.
The EU Will Force Banks to Disclose Data on Reserves in Crypto
The European Commission has implemented a new clause in the MiCA, the EU crypto regulation legislation, that requires banking institutions operating within the Union’s 27 countries to disclose information regarding the availability of reserves in digital currencies.
Moody’s Believes CBDCs Threat Bank’s Profits
Moody’s believes the introduction of cross-border transaction technology related to CBDCs could be detrimental to banks as the new infrastructure would reduce their role significantly.
Circle Partners with Xapo Bank to Bypass SWIFT
Xapo Bank has partnered with financial technology company Circle to introduce USD Coin (USDC) payment rails as an alternative to SWIFT.
