Key facts: According to the congressmen, this regulation turns the capacity of cryptocurrency custody “upside down.” They criticise that the regulations were issued without consulting any of the prudential regulators. In a letter to Securities and Exchange Commission (SEC) Chairman Gary Gensler, a group of 42 Republican lawmakers, led by Patrick McHenry (R-NC) and Senator … Read more
Unrealized losses at U.S. banks have reached a record $512 billion, raising concerns about the stability of the financial system. This phenomenon has persisted for 11 consecutive quartersnoting that problems in the banking sector have lasted longer than expected, according to a comment from The Kobeissi Letter. Unrealized losses are those that a bank has … Read more
Key facts: The Agora project is promoted by the central banks of 7 countries, including Mexico. Addressing cross-border issues is the main objective of the project. 40 of the world’s largest and most important financial institutions have agreed to join the Bank for International Settlements (BIS) in launching a new payments system based on blockchain … Read more
Two of Germany’s largest banks, DZ Bank and Commerzbank, recently announced the addition of bitcoin (BTC) and cryptocurrency-related services, marking a significant milestone in the adoption of digital assets by the traditional financial sector in the European country. DZ Bank, Germany’s second-largest bank based in Frankfurt and with USD 627 billion in assets under management, … Read more
Key facts: Standard Chartered believes there could be a temporary sell-off if Harris is elected. For Geoff Kendrick, executive of the bank, regulatory changes are a positive factor for BTC. British bank Standard Chartered has made projections on the price of bitcoin (BTC) for the end of 2024, suggesting that the digital currency could reach … Read more