Japanese regulators want crypto treated like traditional banks

    Mamoru Yanase said crypto needs the same safeguards as financial institutions and banks. Financial regulators in Japan have urged global regulators to treat crypto the same way as they do banking, calling for tougher rules for the sector. According to the deputy director-general of the Financial Services Agency’s Strategy Development and Management Bureau, Mamoru Yanase,…

    Bank of Thailand to allow first virtual banks by 2025

    By allowing virtual banks, Thailand seeks to boost competition and economic growth. Bank of Thailand has disclosed plans to allow virtual banks to operate in the country for the first time. Financial firms will be able to provide services by 2025, a Bloomberg report shows. The “Consultation Paper on Virtual Bank Licensing Framework” published by the…

    US federal agencies release joint statement on crypto asset risks and safe practices

    The Fed, FDIC and OCC teamed up to wish the banks they regulate a FUD-filled new year with a warning about the risks associated with crypto assets and their efforts to contain those risks. United States federal bank regulatory agencies started off the new year with a statement on crypto assets looking back at the…

    Swiss bank UBS launches digital bond for blockchain and traditional exchanges

    Swiss investment bank UBS AG introduced its digital bond, claiming to be the world’s first publicly traded bond settled on both blockchain-based and traditional exchanges. The bond will be issued on the blockchain platform of SIX Digital Exchange (SDX), not requiring a central clearing counterparty. Issuing the blockchain-based bond will probably encourage more banks to…

    Swiss bank SEBA launches institutional custody service for Ethereum NFTs

    SEBA bank, a Switzerland-based crypto-friendly bank, has announced an NFT custody solution that gives institutional investors the ability to hold NFT collections without managing private keys themselves. SEBA says it’s the first regulated bank to offer NFT custody. The bank will enable clients to store any Ethereum-based NFTs, which includes popular blue-chip collections like Bored…

    Mastercard partners with Paxos to launch crypto trading for banks

    Mastercard announced on October 17 the Crypto Source program, which will make it easier for banks and financial institutions to offer cryptocurrency trading. The payments giant is teaming up with Paxos to launch the service and take care of compliance and security. The Crypto Source program will act as a “bridge” between the crypto trading…