A prominent former SEC official, John Reed Stark, has raised concerns about potential contagion risks associated with the increasing integration of digital assets into traditional banking. Stark, who […]
Binance’s New Product Sparks Bank Token Surge – Is It Sustainable?
Binance’s recent launch of a new perpetual trading contract linked to the BANK/USD pair has sent the BANK token soaring, surging 150% after the announcement. Despite this impressive […]
U.S. Department of Homeland Security Probes Anchorage Digital Bank
The U.S. Department of Homeland Security (DHS) is investigating Anchorage Digital Bank’s operations, particularly within the cryptocurrency sector. The investigation, under the El Dorado Task Force, focuses on […]
FDIC Unveils New Crypto Banking Rules: Impact & Implications
On October 12, 2023, the Federal Deposit Insurance Corporation (FDIC) released comprehensive guidelines for U.S. banks’ handling of cryptocurrency. This move marks a significant shift in how banks […]
U.S. Department Investigates Anchorage Digital Over Financial Crime Compliance
The U.S. Department of Homeland Security (DHS) is reportedly probing Anchorage Digital, a crypto bank, for potential violations in financial crime compliance. The investigation, led by the El […]
Stablecoins’ Power is Shifting Banking’s Landscape
Recent developments spotlight the potential of stablecoins to revolutionize the banking sector. Experts highlight how these digital assets could significantly reshape traditional financial systems and economic power structures. […]
Access Bank Gets Final Approval for National Bank of Kenya Acquisition
After a year of discussions, Access Bank has received the final regulatory approvals needed to complete its acquisition of National Bank of Kenya (NBK) from KCB Group Plc. […]
Anchorage Digital Under Investigation for Potential Financial Crimes
The U.S. Department of Homeland Security’s El Dorado Task Force has initiated an investigation into Anchorage Digital Bank, the only federally chartered crypto bank in the nation, according […]
JPMorgan Chase Denies $440,000 Reimbursement After Account Breach
JPMorgan Chase has declined to reimburse a customer for $440,000 in unauthorized withdrawals following an account breach. The bank maintains compliance with their security policies as the reason […]
South Korea’s Banks Seek Greater Flexibility in Crypto Partnerships
Major South Korean banks have urged regulatory adjustments that would facilitate partnerships with crypto firms. During a meeting hosted by the Korea Federation of Banks, representatives from the […]
South Korean Banks Push for Expanded Cryptocurrency Exchange Partnerships
Major South Korean banks, including KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, and NH Nonghyup Bank, joined forces with Jeonbuk Bank and Toss Bank executives to […]
Westpac CEO Apologizes for Blocking Crypto Transfer, Customer Loses Out on Potential Gains
Anthony Miller, CEO of Westpac, issued a public apology after the bank froze customer accounts and blocked a $30,000 transfer to CoinSpot cryptocurrency exchange. The incident occurred when […]
Taurus Launches Network for Secure Cross-Border Collaboration Between Banks
Swiss fintech company, Taurus, has unveiled a groundbreaking platform called Taurus-NETWORK designed to simplify and secure cross-border collaboration between financial institutions. This new solution allows regulated entities worldwide […]
Former Bank Employee Receives 20-Year Prison Sentence for Embezzlement and Cryptocurrency Investments
A former employee of Woori Bank has been sentenced to 20 years in prison after embezzling over 17.7 billion won (approximately $11.98 million USD) from customer loans. The […]
Nigerian Business Mogul Pascal Dozie Dies at 85
Pascal Dozie, a prominent Nigerian business figure and founder of Diamond Bank and former chairman of MTN Nigeria, has died at the age of 85. His death was […]