Banks | Crypto Profit Bot

Tether aims to decrease commercial paper backing of USDT to zero

June 15, 2022

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Tether expects to reduce USDT’s commercial paper backing to $8.4 billion by the end of June 2022 and eventually completely remove it. 805 Total views 23 Total shares The major stablecoin company Tether is looking to eventually get rid of commercial paper backing for its U.S. dollar-based stablecoin Tether (USDT). Tether issued an official statement […]

Bitcoin and banking’s differing energy narratives are a matter of perspective

June 11, 2022

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The Carbon Bankroll Report was released on May 17 as a collaboration among the Climate Safe Lending Network, The Outdoor Policy Outfit and Bank FWD. The collaboration made it possible to calculate the emissions generated due to a company’s cash and investments, such as cash, cash equivalents and marketable securities. The report revealed that for […]

Is education the key to curbing the rise of scammy, high APY projects?

June 4, 2022

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Most people who have dealt with cryptocurrencies in any capacity over the last couple of years are well aware that there are many projects out there offering eye-popping annual percentage yields (APY) these days. In fact, many decentralized finance (DeFi) protocols that have been built using the proof-of-stake (PoS) consensus protocol offer ridiculous returns to […]

Fed paper looks at the potential effects of CBDC on monetary policy

May 31, 2022

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The working paper traces the effects of operations with CBDCs through several scenarios and concludes the Fed will have it under control. 1474 Total views 180 Total shares On Tuesday, the United States Federal Reserve released a study on the possible effects of a retail central bank digital currency (CBDC) on U.S. monetary policy implementation. […]

OCC issues order against Anchorage Digital over AML compliance

April 22, 2022

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The bank hinted that the OCC’s actions might help establish a regulatory precedent that could encourage other firms in the space to set up federally regulated digital asset banks. 779 Total views 14 Total shares The United States Office of the Comptroller of the Currency, or OCC, has said it intends to pursue cease and […]

‘I’ve never paid with crypto before’: How digital assets make a difference amid a war

April 9, 2022

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The ongoing conflict in Ukraine has become a stress test for crypto in many tangible ways. Digital assets have emerged as an effective means of directly supporting humanitarian efforts, and the crypto industry, despite enormous pressure, has largely proved itself a mature community — one ready to comply with international policies without compromising the core […]

The FDIC wants US banks to report on current and intended crypto-related activities

April 7, 2022

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The U.S. bank insurer has concerns over the ability of the institutions it supervises to assess crypto risks adequately, and it’s none too sure about its own abilities. 1495 Total views 16 Total shares The Federal Deposit Insurance Corporation, the United States government corporation that insures depositors at U.S. commercial and savings banks, issued a […]

From taxes to electricity, blockchain adoption is growing in Austria

March 28, 2022

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Austria has been actively transforming into an attractive location for providers of blockchain-based products, with the government itself experimenting with the technology and trying to create a legal basis upon which companies can use it. With regard to blockchain-based applications in the economy, however, Austria is still in the experimental phase, with most firms still […]

23-year-old Australian buys $314k property via planned crypto investments

March 13, 2022

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Loi Nguyen started his journey as an investor back in 2017 by purchasing a few hundred dollars worth of BTC, ETH and traditional stocks. In November 2021, his crypto investments outweighed his entire stock portfolio. 14714 Total views 46 Total shares A young resident from Queensland, Australia, played the long game of accumulating Bitcoin (BTC) […]

US Virginia Senate allows state banks to offer crypto custody services

March 5, 2022

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Delegate Christopher T. Head introduced the bill (House Bill No. 263) back in January 2022, seeking an amendment to allow eligible banks to offer crypto custody services. 4369 Total views 183 Total shares The Senate of Virginia in the United States unanimously approved a bill amendment request that now allows traditional banks operating in the […]

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Category: Banks