Category: Banking
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A Societe Generale subsidiary in France, the third-largest bank, has been registered as a provider of digital asset services.
The third-largest bank in France’s subsidiary, Societe Generale-Forge, has been registered as a provider of digital asset services with the Autorité des marchés financiers (AMF), the country’s financial markets watchdog. Societe Generale’s Subsidiary Registers as Digital Asset Service Provider The French financial regulator, the Autorité des marchés financiers, has now registered Societe Generale-Forge, Societe…
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Younger People Are 7.5 Times More Likely to Have Cryptocurrencies in Their Portfolios, According to a Bank of America Survey of Wealthy Americans
Younger, wealthy Americans are 7.5 times more likely than investors 43 and older to have cryptocurrency in their portfolios, according to research from Bank of America. Where do the newest generation of investors see opportunities for investment growth if they lack confidence in stocks? Cryptocurrencies, which are their top option, are alternatives, the bank wrote.…
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The CEO of HSBC explains why cryptocurrency is not in the company’s future.
CEO Noel Quinn of the world’s largest bank HSBC said that no crypto services would be provided. The executive emphasized that HSBC is less supportive of cryptocurrencies than other banks, saying “I do worry about the sustainability of the valuations of crypto.” HSBC Will Not Get Into Crypto, CEO Says The chief executive of HSBC,…
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Official announcement: Indonesian Government to Open Crypto Exchange This Year
A high-ranking government official is said to have revealed that the Indonesian government plans to introduce a cryptocurrency exchange by the end of this year. He emphasized, “We will make sure that all requirements, practices, and necessary steps have been followed. By year’s end, the Indonesian government intends to open a cryptocurrency exchange, according to…
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Thailand’s new regulations mandate that cryptocurrency advertisements include explicit investment warnings.
Thailand has enacted stricter regulations that require cryptocurrency businesses to adequately disclose the investment risks in their advertisements. The new rules forbid companies in the sector from making false or exaggerated claims. According to Bloomberg and Reuters, Thailand’s Securities and Exchange Commission (SEC) has approved new guidelines for cryptocurrency advertisements. The modifications, according to a…
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Indian Central Bank Governor Warns of Potential Crypto Market Collapse and Losses for Small Investors
Shaktikanta Das, governor of the RBI, has issued a warning that small investors may lose money if the cryptocurrency market crashes. He continued by saying that the central bank thought its warnings had discouraged many people from making cryptocurrency investments. The governor of the Indian central bank, the Reserve Bank of India (RBI), Shaktikanta Das,…
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The Philippine Senate holds a hearing to discuss cryptocurrency regulation.
In a Senate hearing attended by several executives from the cryptocurrency industry, including from crypto exchange Binance, the central bank and the Securities and Exchange Commission (SEC) of the Philippines discussed the regulation of cryptocurrencies. During a hearing of the Senate Committee on Banks, Financial Institutions, and Currencies, which was presided over by Senator Mark…
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Industry claims that Ukraine’s new fiat restrictions will increase the popularity of cryptocurrencies.
The fixed rate of the national currency in U.S. dollars has been modified by the central bank of Ukraine, and stricter restrictions on hryvnia transactions for citizens have been put in place. According to a representative of the local cryptocurrency industry, the measures are probably going to encourage more Ukrainians to use cryptocurrencies. New regulations…
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The Central Bank Digital Currency is Being “Phased Implemented” by the Reserve Bank of India.
The Reserve Bank of India (RBI), the country’s central bank, is attempting to “phase in a central bank digital currency (CBDC) in both wholesale and retail segments.” The RBI Act of 1934 has been modified as needed to permit the central bank to test and issue a digital currency. A Reserve Bank of India (RBI)…