Venture capitalist Tim Draper says fears that quantum computing will break Bitcoin (BTC) are misplaced, arguing that traditional banks and the dollars held within them face a bigger security risk. In comments published by Benzinga and amplified in an X post on June 9, Draper said he considers his BTC holdings safer than cash sitting […]
Popular crypto analyst EGRAG CRYPTO has claimed that banks are fighting stablecoins not because they are risky, but because they allow people to hold, move, and potentially earn returns on dollars without relying on traditional bank deposits. His sentiment comes as US lawmakers continue to negotiate crypto legislation and stablecoin rules, while banks and digital […]
U.S. banks are increasingly at risk of losing deposits to the digital assets space as stablecoins continue to gain traction. The concern comes amid growing stablecoin adoption, with the total supply in circulation having risen by roughly 40% over the past year to just over $300 billion. Long-term Funding Concerns A Bloomberg report citing analysis […]
The Turkish government is drafting legislation to expand the powers of its financial crime watchdog, Masak, allowing it to freeze and restrict access to bank and cryptocurrency accounts. The bill is designed to curb money laundering, fraud, and “rented” accounts used for illegal betting, Bloomberg reported on Monday, citing anonymous sources. Intergovernmental watchdog, the Financial […]
The Minneapolis-based bank with over $685 billion in total assets has renewed its Bitcoin custody services for institutions. Following a 3-year pause, now in a more crypto-appreciative environment, this is possible once more. Back After a Hiatus Shared via a press release, U.S. Bank, the primary operating subsidiary of U.S. Bancorp, announced yesterday that it […]
The White House order will involve banks being fined if they drop customers for political reasons or discriminate against digital asset firms and organizations. The executive order directs bank regulators to investigate whether any banks or financial institutions might have violated the Equal Credit Opportunity Act, antitrust laws, or consumer financial protection laws, reported The […]
“Bitcoin has effectively cornered the world’s central banks, and there is no way out,” said author Adam Livingston on July 9. He added that the banks face an “unprecedented challenge,” in that they cannot print Bitcoin to defend their currency, which creates a “policy trilemma.” Policymakers essentially have three choices: they can raise interest rates […]
America’s biggest banks, including JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and others, are in early discussions about creating a joint stablecoin to compete with the crypto industry, according to the Wall Street Journal, citing people familiar with the matter, on May 22. The conversations reportedly involve bank-owned payment companies like Zelle operator Early […]
“I do think it would be helpful if there were a greater regulatory apparatus around crypto,” the US central bank chair said at the Federal Open Market Committee press conference on Jan. 29. He added that it is something Congress and the Fed have been “working on quite a lot.” “We’ve actually spent a lot of […]
While major institutions worldwide are gradually embracing Bitcoin, recognizing its potential as a transformative asset and even integrating it into their corporate treasuries, the perception of the cryptocurrency remains far from universally positive. Amid this growing institutional adoption, the Bank of Italy has taken a notably critical stance. In its Economic and Financial Occasional Paper, […]
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