Bank of England hikes key rate by 25 basis points to 4.5%
The Bank of England increased its key interest rate by another 25 basis points on Thursday, bringing borrowing costs up to 4.50% - their highest level since...
The Bank of England increased its key interest rate by another 25 basis points on Thursday, bringing borrowing costs up to 4.50% - their highest level since...
Chinese consumer inflation barely expanded in April as local spending saw a limited recovery, data showed on Thursday, while producer inflation hit a near...
By Ambar Warrick Chinese consumer inflation read weaker than expected in March, while producer price inflation contracted at a steady pace amid growing signs that...
By Ambar Warrick Australian consumer sentiment improved more than expected in April, a private survey showed on Tuesday, after the Reserve Bank paused its interest...
According to The Block: Switzerland’s fifth-largest cantonal bank, St. Galler Kantonalbank (SGKB), has introduced bitcoin and ether custody and trading services in collaboration with SEBA Bank. The services launch marks SGKB's first venture into the digital asset space. This week, SGKB announced the offering to a select group of clientele, with plans to expand its digital assets services by adding more cryptocurrencies, based on client demand. Christian Bieri, SEBA Bank Head of B2B and Custody Solutions, expressed his pleasure over supporting SGKB with their expertise in digital assets services expansion. He added that following a short implementation project and a contract signing earlier this year, SGKB is now ready to offer cryptocurrency access, initially to bitcoin and ether, with other currencies to follow shortly. The partnership with SEBA Bank will facilitate SGKB's clients in integrating cryptocurrencies into their existing investment portfolios. According to Falk Kohlmann, Head of Market Services at St. Galler Kantonalbank, the cooperation has led to a straightforward initial setup that will enable them to learn and grow in line with their clients' requirements. SGKB is part of the 24 Swiss cantonal banks, partially owned by Switzerland's federal governments. Meanwhile, SEBA Bank, a licensed entity under Switzerland's FINMA financial markets regulator, offers digital asset services to other banking institutions, including both private and retail banks such as LGT Bank Liechtenstein and Julius Baer Bank.
According to Odaily: At the recent "KUN & Hashkey Exchange" strategic cooperation signing ceremony, Hashkey Group's founder Dr. Xiao Feng announced an alliance with Yuanbi Technology and Zhongan Bank to jointly release stablecoins in Hong Kong. Yuanbi Technology, lead by former president of the Hong Kong Monetary Authority, Chen Delin, has the Hong Kong Monetary Authority's stored value facility (SVF) license. Its notable shareholders include members of ZhongAn Online’s ZhongAn Digital Asset Group and HashKey Holdings Limited. This alliance will strengthen the burgeoning FinTech ecosystem within Hong Kong and could potentially pave the way for broader crypto adoption in the region. Further details about the joint issuance of stablecoins, their underlying protocols, and potential use-cases are to be outlined by the companies involved.
According to Odaily: Hong Kong Customs Commissioner, Ho Peishan, underlined the critical role of international law enforcement collaboration during a recent meeting to address emerging financial crimes leveraging virtual assets. Attending the 34th Hong Kong Customs and South Korean Customs Cooperation Conference held in Seoul, alongside South Korean Customs Department Director Gao Guangxiao, Commissioner Ho emphasized the need to meet head-on the new challenges in anti-narcotics, combating money laundering, and protecting intellectual property rights. Ho pointed out that financial crimes involving virtual assets are a burgeoning area of concern, requiring close cooperation and coordination between international law enforcement agencies to efficiently tackle and mitigate potential threats. Commissioner Ho's remarks underscore the increasingly complex landscape of financial crimes as digital currencies rise to prominence and the pivotal role that international collaborations play in addressing such crimes.
You might recall the news from last week, where the economic prowess of Uncle Sam sprinted ahead with a formidable 4.9% annual GDP growth rate. To put it in the ...
According to CoinDesk: The Commodity Futures Trading Commission (CFTC) of the United States, responsible for overseeing the derivatives market, has awarded $16 million to whistleblowers in 2023, with a majority of the 1,530 tips received related to cryptocurrency, according to Commissioner Christy Goldsmith Romero. Evidently, crypto remains a hotbed for fraud and other forms of illegality. "The majority of the tips received this year involved crypto, an area that continues to have pervasive fraud and other illegality," Romero noted in a published statement on the CFTC website. Due to the proliferation of cryptocurrency, the number of retail customers under CFTC's jurisdiction has soared, making the Commission's Whistleblower Program and the Office of Customer Education and Outreach initiatives more crucial than ever. According to Romero, whistleblowers play a vital role in identifying fraudulent activities and interpreting evidence. "The faster we can stop fraud, the more we can protect customers from harm," Romero added. This year's astounding payouts include over $15 million awarded to two whistleblowers whose crucial information and cooperation led to the successful prosecution of multiple enforcement cases. Overall, the CFTC has disbursed a whopping $350 million to whistleblowers, which has contributed to orders for more than $3 billion in enforcement sanctions.
On the occasion of the 15th anniversary of the Bitcoin whitepaper by Satoshi Nakamoto, Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), extended his congratulations via a post on platform X, while also delivering a clear message to crypto firms. In his tweet, Gensler remarked, "If Satoshi Nakamoto went as Satoshi Nakamoto for Halloween, would we be able to tell? Happy 15th anniversary to Satoshi’s famous white paper that started crypto." He then added, "Any crypto companies that are tricking investors should start treating them to compliance with the securities laws." Gensler's words underscore the SEC's stance on the necessity for legal compliance within the crypto sector, particularly aimed at firms engaging in deceptive practices towards investors. This statement reflects the regulatory body's ongoing commitment to ensuring a well-regulated and secure environment within the dynamic and evolving crypto market, balancing innovation with investor protection.