Category: CBDC
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According To IMF Head, CBDC’s Unknown Risk Will Be Irreversible
During the Milken Institute Global Conference on May 1, 2023, Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), shared her concerns about the potential risks associated with the adoption of Central Bank Digital Currencies (CBDCs) across the world. It stated that while more than 110 countries are currently developing CBDC, with 65…
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“Bybit Halts the U.S. Dollar Transfers as Silvergate’s Crypto Banking Network Shuts Down”
Reason for Bybit Decision Silvergate, a california-based bank that has been providing banking services to Bybit cryptocurrency firms for several years, recently announced that it will be discontinuing its Silvergate Exchange Network (SEN). The SEN is a proprietary network that allows its clients to transfer U.S. dollars and digital assets amongst themselves ,with Silvergate as…
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AI tool to help JP Morgan Signal Trades by Analysing FED Speeches
JPMorgan Chase revealed a new artificial intelligence-powered tool that analyses comments from the US central bank to find potential trading signals ahead of the Federal Reserve’s policy meeting next week. According to Bloomberg, JPMorgan analysts used a ChatGPT-based language model to analyse the tone of policy signals from the remarks and analysing central bank speeches…
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Revolutionizing Financial Services with the help of AI
The Financial Services Industry has reached the Artificial Intelligence (AI) phase of the digital marathon. A trip that began with the introduction of the internet and has brought firms through several stages of digitization. The development of AI is disturbing the industry’s dynamics, weakening the links that have kept traditional financial institutions together. And opening…
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France to implement “Fast Track” rule for registered Firms for faster MiCA compliance
Following the recent adoption of the crypto-focused Markets in Crypto Assets Legislation, popularly known as ‘MiCA’ by the European Parliament, additional countries, like Ukraine, have been seen following the European Union (EU) steps and embracing MiCA. Notably, France is now the most recent country to join the growing MiCA adoption. On Friday, the French regulator,…
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Visa introduces a roadmap for an ambitious crypto product
VISA Inc. VISA Inc. is a multinational financial service provider. Its headquarters is in California. Its main agenda includes transferring electronic funds throughout the world. This is done chiefly via VISA branded credit, debit, or prepaid cards. A VISA is not a credit or debit card provider company for consumers. Instead, provides financial institutions with…
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China’s Warning: Negative Fin-Eco Impacts of The U.S. Policies
China surpassed and prompted the U.S. and the others which have moved ahead of the category of developing countries to evaluate the outcomes of the policies they make on grounds of economic and financial grounds. China warns on Financial and Economic policies to upgrade the contemplating standards between countries on these grounds. China on Fin-Eco…
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Local Crypto Firms can now be investigated by the Bank of Korea
The South Korean central bank will have access to crypto transaction data from local exchanges. South Korea’s central bank has been given permission to increase its surveillance of cryptocurrency service providers and issuers as the government continues to debate virtual asset laws. Due to the concerns about financial stability posed by the Stablecoins the Central…
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China-Singapore Alliance; a GFTF collab for Low-Carbon Economies
China and Singapore under collaboration will be focusing on reinforcing the pecuniary human resources. China-Singapore Green Finance Taskforce (GFTF) Going green and moving ahead towards the financial task force is the motive of the alliance that is going to be formed as given by the Monetary Authority of Singapore (MAS). In Singapore, on April 21st…
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California Judge Combines Three Lawsuits Against Silvergate
Due to claims of strong ties to the FTX exchange, Silvergate Bank is the target of numerous lawsuits. A judge recently merged some of these actions. According to the combined lawsuit, Silvergate Bank’s provision of banking services allowed FTX to operate as an unregistered money services business, which allowed the bank to make money from…