The Only Regulated Bitcoin Exchange in Germany Will Become A Bank in 2019

The operator of Germany’s only regulated cryptocurrency exchange has confirmed it will de facto become a bank after securing a 100 percent takeover of Tremmel Wertpapierhandelsbank. Bitcoin.de Buys Tremmel Wertpapierhandelsbank Bitcoin Group SE, which operates Bitcoin.de, will be able to offer a raft of services connected with cryptocurrency thanks to a banking license once the […]

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Swiss Regulator: Crypto Assets Need 800% Risk Weighting In Absence Of Formal Rules

Swiss financial regulator has informally signaled cryptocurrency investments should have a risk weighting ratio of 800 percent of the original amount. FINMA Highlights Bank, Dealer Queries According to local news media outlet Swissinfo, the Swiss Financial Market Supervisory Authority (FINMA) revealed the figure in October in response to a query by trustee and accountant association […]

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Bitfinex Reopens Deposits But Stays Silent About Bank Arrangements

Cryptocurrency exchange Bitfinex confirmed it has reopened fiat currency deposits for all users October 16th, while remaining secretive about changes in its banking relationships. ‘New, Improved And Increasingly Resilient’ In a blog post, the exchange, which on Thursday began restricting deposits for certain users, said it had finished implementing what it described as “a new, […]

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‘Stop Trying to Create Money,’ BIS Chief Tells Young Bitcoiners

The general manager of the Bank of International Settlements (BIS) Agustin Carstens has renewed the institution’s attacks on cryptocurrency, calling them “a bubble, a Ponzi scheme and an environmental disaster.” Carstens: Crypto ‘Fails Dramatically’ As Money In an interview with Swiss news outlet Basler Zeitung, published June 25 with a translation on BIS’ own website […]

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Poland Bitcoin Community Files Complaint Against Bank Account ‘Denials’

Poland’s cryptocurrency industry lobby group the Polish Bitcoin Association (PBA) confirmed it has complained to regulators about banks’ denial of services to businesses June 27. Banks ‘Aim To Remove Virtual Currency’ In a statement sent to the Office of Competition and Consumer Protection (OCCP), the PBA cites financial institutions closing and denying bank accounts as […]

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Could Government Issued Cryptocurrencies be the Future?

Toju Omet · May 31, 2018 · 1:30 am Prominent economist Mohamed El-Erian sees a future in which an “officially sanctioned” cryptocurrency will exist. Going Cashless “We are moving away from cash,” El-Erian says. “Go to Sweden and you’ll see how fast.” In Sweden, just 2% of the country’s transactions are conducted with cash, and […]

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Coinbase To Congress: We Don’t Need More US Cryptocurrency Regulators

Wilma Woo · March 15, 2018 · 10:00 am Coinbase has told the US that regulators “already have sufficient authority” over cryptocurrency as the exchange and wallet provider passes 20 million users. Coinbase Aims For ‘Effectiveness’ At Congress Speaking at the increasingly notorious Congress hearing on cryptocurrency March 14, during which one senator appeared to […]

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Former Top JP Morgan Trader Says Banks ‘Have Absolutely Failed’ With Cryptocurrency

Dieter Holger · February 24, 2018 · 1:00 pm A former high-flying JPMorgan trader turned cryptocurrency fund manager says banks “have absolutely failed to innovate in any way, shape, or form and now they’re paying the price” in the cryptocurrency market. Daniel Masters ran JPMorgan’s energy trading business in the 1990s and now oversees cryptocurrency […]

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TD Bank The Latest to Halt Cryptocurrency Purchases Using Credit Cards

Gregory Rocco · February 24, 2018 · 2:30 am Toronto-Dominion (TD) Bank is the latest financial institution to ban customers from using their credit cards to purchase cryptocurrency. As more retail investors continue to be onboarded, banks are looking to protect them from making ignorant decisions. Weighing Risk, Regulation, and Rapidity In a recent move […]

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