Bitcoin

‘EU-Level Action Needed’ for Cryptocurrency, Says European Banking Authority

The European Banking Authority (EBA) is calling for standardized regulations for cryptocurrency operations within the EU. Europe’s banking watchdog believes such a move will eliminate unfair regulatory arbitrage while protecting investors across the bloc. A Common Monitoring Template The EBA conveyed its clamor for a regional framework for cryptocurrency regulations in a report published on Wednesday, […]

Crypto News

‘Almost Lost My Business’: Bitcoin Entrepreneurs Sound Off on Banking Struggles

For the average entrepreneur, verifying that your financial institution hasn’t closed your startup’s bank accounts probably isn’t part of your daily routine. However, if you’re an entrepreneur that runs a bitcoin startup, checking up constantly on one’s banking relationships is just part of the job. That became apparent this week thanks to a Twitter thread […]

Bitcoin

EU Banking Authority Urges Bitcoin Law, What it Means For BTC

The European Banking Authority (EBA) has called for pan-EU rules on bitcoin and other crypto assets. The London-based regulatory agency reached the European Commission, which drafts EU legislation, with its official report on cryptocurrency laws. The report concluded that the assortment of different crypto laws across the European nations could lead to exploitation of investors […]

Crypto News

Bitcoin-Friendly Revolut Receives European Banking License, Aims to be ‘Amazon of Banking’

Advertisement Revolut, a digital banking alternative that features an in-app bitcoin and cryptocurrency exchange, has received a European banking license as it seeks to expand its offerings and position itself as the “Amazon of banking.” Revolut to Offer Bank Accounts in Europe The London-based unicorn, which remains one of the hottest fintech startups in the […]

Crypto News

‘Alt-Right Twitter’ Gab Moves to Bitcoin Payments Due to Banking Blacklist

Advertisement Twitter Facebook LinkedIn Upstart social network Gab has occasionally been dubbed the “alt-right Twitter.” A haven for mainstream social media castaways like Milo Yiannopoulos and even Alex Jones, the years-long spike in extremist right-wing terrorism has led to a backlash within the banking community toward sites which are seen to foster the ideology behind […]

Bitcoin

Crypto Doom and Gloom: Banking CEO Says There’s “No Interest” from Institutions

The CEO of Revolut has claimed that large institutional clients, which are often cited as the drivers of the next crypto bull run, have shown very little interest in investing in assets like Bitcoin and Ethereum. Revolut CEO: Institutional Investors Show “No Interest” in Crypto While speaking at the Web Summit 2018 in Lisbon, Portugal this week, […]

Crypto News

South Korean Court Rules Bank’s Action to End Banking Services to Crypto Exchange Illegal

Advertisement Twitter Facebook LinkedIn A court in South Korea has ruled that the decision by a commercial bank to stop offering banking services to a cryptocurrency exchange was unlawful and must therefore be rescinded. According to the Central District Court’s 50th Civil Affairs Division, the move by South Korean commercial bank Nonghyup to cease offering […]

Crypto News

US State Banking Regulator Sues Government Over Fintech Special Charter

Advertisement The US regulatory body for state banking has filed a lawsuit against the federal government for granting bank charters to fintech companies. The complaint calls into question the leniency of fintech “sandbox” charters. The Office of the Comptroller of the Currency (OCC), an arm of the US Department of the Treasury, has awarded these special charters to […]

Crypto News

UK Banking Giant Barclays’ Cryptocurrency Project ‘Put on Ice’: Report

Advertisement Major investment bank Barclays has reportedly put its cryptocurrency trading project “on ice” amid a prolonged bear market that has dampened interest in the asset class among many investors. According to a Financial News report, the London-based financial institution shelved the project in September, leading to the departure of Chris Tyrer, the bank’s former […]

Crypto News

Bitfinex Banking Scares Continue, Bitcoin Premium Skyrockets, Tether Dumps

Since the establishment of the first crypto-to-fiat platform, exchanges have been subject to intense scrutiny from banks, regulators, and most importantly, the consumers and investors themselves. Despite its veteran status in this nascent industry, Bitfinex isn’t exempt from this scrutiny, as a few too many controversies have rocked the Hong Kong-based startup over its near-six-year history. Reports […]

Crypto News

Major Indian Bitcoin Exchange Zebpay Shuts Down Due to Banking Freeze

Advertisement Zebpay, one of India’s biggest cryptocurrency exchanges, has announced the shuttering of all exchange services on Friday following the central bank’s banking ban on the crypto industry. Launch in 2015, Zebpay started trading with an app-only service that quickly became one of India’s most-downloaded bitcoin wallet and exchange apps. With a know your customer […]