Big Four accounting firm EY has recommended that banks should change their regulatory perimeter to address the oncoming launches of state-backed central bank digital currencies (CBDC) and private stablecoins. EY’s 2022 Global regulatory outlook highlighted the need for a policy change that can help financial services firms overcome business uncertainties amid mainstreaming of … [Read more...] about EY advises banks to ‘prepare for what’s coming’
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Bitcoin Stabilizes as Traders Prepare for Taproot Upgrade
Options traders are overwhelmingly bullish on ether after the cryptocurrency reached an all-time price high around $4,800 on Wednesday. The chart below shows the largest amount of open interest at the $5,000 ETH strike price, followed by $10,000 and $15,000. Source link … [Read more...] about Bitcoin Stabilizes as Traders Prepare for Taproot Upgrade
Bitcoin Outperforms as Traders Prepare for Next Leg Higher
The surge in bitcoin futures open interest, or total number of outstanding derivative contracts, over the past month coincided with the launch of the first bitcoin futures-based exchange-traded fund (ETF) introduced by ProShares, trading under the ticker BITO. “Now, the open interest has declined substantially, particularly when subtracting the BITO contribution,” Arcane wrote … [Read more...] about Bitcoin Outperforms as Traders Prepare for Next Leg Higher
Russian lawmakers prepare legal amendment to confiscate crypto
Russian lawmakers are working on new legislation that would allow the government to confiscate cryptocurrencies, according to a senior official.Russian Prosecutor General Igor Krasnov claimed that the government is now developing a set of amendments to the country’s criminal code to allow authorities to seize crypto obtained from illegal activity, local news agency TASS … [Read more...] about Russian lawmakers prepare legal amendment to confiscate crypto
Tanzanian president urges central bank to prepare for crypto
Tanzania appears to be the latest emerging economy poised to embrace Bitcoin (BTC) and crypto assets.On Monday, Tanzanian president Samia Suluhu Hassan urged the country’s central bank to begin exploring crypto assets. Hassan emphasized the increasing impact of digital assets on global finance, stating, “We have witnessed the emergence of a new journey through the internet.”She … [Read more...] about Tanzanian president urges central bank to prepare for crypto