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Read more - Hong Kong regulator warns on crypto firms mislabeled as ‘banks’
The Hong Kong Monetary Authority has cautioned the public against crypto firms that describe themselves as banks or offer products termed as deposits. On Sept. 15, the Hong Kong Monetary Authority (HKMA) issued a public statement expressing concern over crypto…

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Read more - Binance’s CZ regulations prevent market from adding 100m users
Binance’s founder says challenges related to fiat ramps can prevent the market from onboarding the next 100 million users. Trouble seems to be brewing on the horizon for the crypto market as tight regulations forced traditional institutions to pull away…

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Read more - Australian Bank ANZ boosts cross-chain operations with Chainlink
ANZ, a key player among Australia’s “Big Four” banks, adopts Chainlink’s cross-chain interoperability protocol (CCIP) for simulating tokenized asset purchases. The latest move highlights ANZ’s ability to facilitate fund transfers across public and private blockchain networks, advancing the ongoing trials…

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Read more - Hedera unveils open-source toolkit for stablecoin developers
With the SDK, Hedera wants to bring more stablecoin applications, sparing developers from blockchain hurdles. Hedera, an open-source proof-of-stake network, is set to compete with blockchain giants like Ethereum (ETH) in deploying stablecoins with a new toolkit. In a blog…

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Read more - Russian lawmakers believe digital ruble will replace banks
Anatoly Aksakov, head of Russia’s Banking Committee, believes that the digital ruble could potentially render traditional banking institutions obsolete. In a discussion at the AiF.Media club, Aksakov opined that the evolving landscape of financial technology could reduce the necessity for…

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Read more - South Korean bank develops crypto custody together with BitGo
The South Korean bank KEB Hana Bank closed a new partnership with the cryptocurrency company BitGo to develop crypto custody. The partnership between the two companies will aim to develop a cryptocurrency custody business in South Korea. KEB Hana Bank…

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Read more - Tether partners with Bahamas-based Britannia Bank
Tether is including the Bahamas-based bank as a dollar transfer processor on its platform. The partnership between both entities will allow Tether to expand its regional presence.

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Read more - PayPal partners with Australian crypto exchange amid banking restrictions
Australian crypto exchange Independent Reserve forms a strategic alliance with PayPal, offering users enhanced funding options amidst increasing local bank restrictions. The Australian cryptocurrency exchange Independent Reserve has closed a partnership with PayPal. The partnership will allow crypto exchange customers…

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Read more - US Fed takes action against bank linked to FTX’s Alameda Research
The Federal Reserve has taken action against Farmington State Bank, previously linked to FTX, following undisclosed business strategy shifts

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Read more - Silvergate CEO and top execs to depart amid bank’s wind-down
Silvergate, once known as a crypto-friendly bank, faces significant changes as CEO Alan Lane and two other key executives prepare to leave. Alan Lane and the firm’s chief legal officer, John Bonino, will step down on Aug. 15. Antonio Martino,…

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Read more - Spanish private bank A&G launches crypto investment fund
Spain's leading private bank A&G has launched a crypto investment fund, indicating a rise in adoption in the European nation.

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Read more - Hong Kong bank freezes user accounts previously involved in crypto
Mox Bank, an online-only bank in Hong Kong, blocked some user accounts previously involved in crypto transactions. Some complain they have nothing to do with digital currencies. Although the virtual bank started to review the issue, some users have pointed…

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Read more - Hong Kong exchange to launch unlimited crypto credit card
Hong Kong-based crypto exchange LBank is preparing to introduce what it claims to be the world’s first unlimited cryptocurrency credit card. The upcoming card, available in virtual and physical forms, will allow users to make direct cryptocurrency payments through LBank’s…

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Read more - JPMorgan deletes 47 million records, cripples SEC investigations
Crypto friendly bank, JPMorgan Chase, was fined $4 million by the SEC for accidentally deleting 47 million emails from its retail banking group

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Read more - Australia’s largest bank suspends payments to crypto exchanges
Commonwealth Bank (CBA), the largest financial institution in Australia, has announced its decision to either halt or temporarily suspend payments to crypto exchanges due to the substantial risk of fraudulent activities. On June 8, CBA disclosed that it would reject…

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Read more - Former NFL co-owner sentenced to 6 years for crypto shadow bank scheme
Reginald Fowler, a former co-owner of the Minnesota Vikings and prominent figure in the NFL, has been handed a six-year prison sentence after being found guilty of running a "shadow bank" operation within the crypto industry.