Category Archive : Cryptocurrency

Top US Financial Regulators Warn Against Perils of Stablecoins

The Financial Stability Oversight Council (FSOC), which was set up in 2008 to combat risks to the financial sector after the financial crisis, believes stablecoins could cause potential problems if they gained wider use.

“If a stablecoin became widely adopted as a means of payment or store of value, disruptions to the stablecoin system could affect the wider economy,” the regulators stated in its financial report for 2019. “Financial regulators should review existing and planned digital asset arrangements and their risks, as appropriate.” Read More

Court Upholds Nordea Bank’s Ban on Employee Bitcoin Purchases

Nordea, a Danish Bank, won a court case allowing it to prevent staff from buying Bitcoin and other cryptocurrencies.

Nordea first banned its employees from owning bitcoin in January 2018, after which Danish finance and workers’ rights figures threatened legal action. Read More

Bank of Russia Supports Ban on Crypto as Payment Method

The Bank of Russia supports a ban on cryptocurrency payments. The Bank says that “private cryptocurrencies cannot be equated with fiat money and cannot be legal tender.”

It added: “If it is decided to ban cryptocurrencies as a means of payment at the legislative level, we consider it appropriate to support this position.” Read More

Ethereum Foundation Researcher Spoke at a North Korea Cryptocurrency Conference. The U.S. Arrested Him.

Federal prosecutors accused Virgil Griffith, a research scientist at the Ethereum Foundation , of helping North Korea evade US sanctions. Formally charged with violating the International Emergency Economic Powers Act, Griffith faces up to 20 years in prison. He allegedly attended the conference after the U.S. government refused him permission to go. Read More

You Can Now Bank with Metropolitan Bank with Crypto Banking App Cashaa

U.K.-based Cashaa, a cryptocurrency banking platform, has launched bank accounts for U.S.-based crypto firms in U.S. dollars.

Cashaa is offering the accounts through a partnership with Metropolitan Commercial Bank, which saw a more than 300-percent increase, year-on-year, in its non-interest income. Metropolitan Commercial Bank, which is headquartered in New York City, is a full-service commercial bank with banking centers in Manhattan, Boro Park Brooklyn and Great Neck, Long Island. Read More

Free to Trade: Charles Schwab, TD Ameritrade, and E-Trade Eliminate Commissions

Last week, almost every major online brokerage company – including Charles Schwab (SCHW), TD Ameritrade (AMTD) and E-Trade (ETFC) – stopped charging commissions, making it free to trade.

“For every broker out there, trying to sell services with explicit fees is going to be almost impossible. The next frontier will be centered around providing more financial well-being solutions — expanding beyond just brokerage products,” said Bill Capuzzi, CEO of Apex Clearing, a custodian of securities on behalf of brokerage firms. Read More

Everything You Need to Know about Binance and its Formal Entry into the US

Binance, the world’s largest cryptocurrency exchange, announced that starting in September it will disallow U.S. residents from using its flagship exchange. Instead, it will launch a U.S.-based service, called Binance US, where U.S. passport holders will face restrictions when using the website.

Binance has been known for letting anyone use its services to trade tokens. The Malta-based exchange will partner with Bam Trading Services, a FinCEN-registered company with links to Binance-backed Koi Compliance, the “fully-managed solutions” department of over-the-counter (OTC) crypto trader Koi Trading. Binance Labs invested $3 million in Koi Trading on January 24. Read More

This Crypto Trader is Keeping Her Eye on Bitcoin ETFs, Futures and Institutional Interest

Crypto Wendy, who is keeping her eye on Bitcoin ETFs, futures and institutional interest in the crypto market these days, wants you to know that she is no trading expert.

“…I am here to learn and grow with everyone,” she says.

She started out in the space as a trader and hosting free meetups at Cryptospace in San Pedro, teaching and talking about basic trading methods. Three times a week, she does a live stream and discusses news and current events that impact the market on her YouTube channel. She believes we’ve seen the bottom in the crypto market for now. Read More