India’s leading banks have asked the National Payments Corporation of India (NPCI) to lay out a formal directive for the buying and selling of virtual digital assets (VDAs). The Economic Times reporte...
Tag: Banks
Indian Banks Request NPCI Clarification on Crypto UPI Payments
The crypto industry has become an unavoidable force in the finance sector that even traditional institutions are looking to adopt. While world governments like the USA are being blamed for joining the...
Central banks to put rates in pain zone to fight inflation
LONDON — Overcoming doggedly high inflation requires interest rates to be pushed into the “pain zone.” But whether any central bank has the nerve to do it is the question, according to inv...
Morgan Stanley Says Wholesale Banks Can Thrive in a More Regulated Crypto Market
The primary hurdle for the banks, which serve corporate clients rather than individuals or small organizations, has been the lack of a clear regulatory framework, analysts led by Betsy Graseck wrote. ...
Indian banks question ‘shadow ban’ on cryptos
According to the National Payments Corporation of India (NPCI), the Unified Payments Gateway (UPI) is being used to transact in virtual digital assets (VDAs). Indian banks are complaining that they ha...
Indian Banks Seek Regulatory Clarity Over UPI Support For Crypto Trading
Indian Banks have asked the National Payments Corporation of India (NPCI) to clarify its stance on the use of UPI and IMPS for crypto trading. At a recent meeting, banks raised concerns over a lack of...
74% of people don’t think they will ever achieve high-net-worth status
cdwheatley | E+ | Getty Images People have wide-ranging views of what it means to be “high net worth,” according to a survey from digital wealth manager Personal Capital. Yet most people —...
UK watchdog identifies major flaws in how challenger banks tackle financial crime risks
Following a recent investigation by the Financial Conduct Authority (FCA), it was discovered that several challenger banks had major flaws in their financial crime controls and that they need to enhan...
UK digital banks need to improve financial crime controls, FCA warns
Icons for the Monzo and Starling banking apps on a smartphone. Adrian Dennis | AFP via Getty Images Britain’s online-only challenger banks need to do more to prevent the abuse of their platforms...
FCA Raises Concerns over Challenger Banks’ Financial Crime Controls
The Financial Conduct Authority (FCA) recently released the outcomes of its review regarding the risk assessment by challenger banks. According to the authority, the review found weaknesses in some ch...
Bank of England Urges Banks to Fund Bigger Scrutiny of Crypto
Yuri Molchan Bank of England plans to hire more staff to study risks to do with the expanding cryptocurrency market Bloomberg has reported that the central bank of England‘s (BOE) Prudental Regu...
Goldman to test consumer checking account with its U.S. staff
Stephanie Cohen, currently Goldman Sachs’ global co-head of consumer and wealth management, speaking at the 2018 New York Times Dealbook conference in New York City. Michael Cohen | Getty Images...
Goldman exec Dustin Cohn leaves for real estate investing start-up Cadre
Dustin Cohn, chief marketing office of Cadre Source: Cadre Goldman Sachs consumer bank branding chief Dustin Cohn has joined real estate investing start-up Cadre as chief marketing officer, CNBC has l...
BlockchainCom Negotiates IPO Terms With Banks to Go Public in 2022: Report
Another cryptocurrency company with aspirations to become a publicly-traded firm on Wall Street – BlockchainCom – has confirmed its initial plans that it aims to do so by the end of 2022. Ever since C...
Association of Russian Banks Wants Ban on Non-Custodial Crypto Wallets
A letter from the Association of Russian Banks (ADB) to the Central Bank and departments showed that the group wants a ban on non-custodial crypto wallets, Izvestia reported on Monday. ADB’s Request f...
Twitter, Bank of America, Charles Schwab and more
In this photo illustration, the Twitter logo is displayed on the screen of an iPhone in front of a computer screen displaying Twitter logos. Chesnot | Getty Images Check out the companies making headl...
Association of Banks of Russia Proposed Criminalizing Crypto Storage in Non-custodial Wallets
27 mins ago | 2 mins read Editors News The group also recommended criminal responsibility to refuse keys to official authorities. An official assessment states that a seizure of such assets is very di...
Russian Banks Want to Ban Self-Custody Crypto Wallets
Key Takeaways According to a local news media report, the Association of Banks of Russia has proposed that lawmakers ban self-custody wallets. The association has also proposed criminalizing refusing ...
BAC earnings 1Q 2022
Brian Moynihan, chairman and chief executive officer of Bank of America Corp, speaks in New York City, September 25, 2019. Shannon Stapleton | Reuters Bank of America posted first-quarter profit on Mo...
Is the Stock Market Open Today? Here Are Hours for Easter Monday 2022.
Text size Dreamstime U.S. investors eager to trade after the holiday weekend will have plenty of news to digest, thanks to corporate earnings. More than 100 companies are slated to report this week—an...
The world doesn’t need banks, policymakers or NGOs — It needs DeFi
Where I grew up, on the southern border in Texas, a tremendous number of people have come to the United States to work and send money back home. They don’t make much money, but they pay considerable f...
Crypto is making banks obsolete
Our banking system has reached the end of the road, in that it relies on human interaction that can be biassed. This system does not have its customer’s best interests at heart, given the exorbitant f...
Central banks in emerging economies look to CBDCs for payment efficiency, BIS report says
A volume of papers from the Bank for International Settlements (BIS) points out that payment system efficiency is the top motivation for central banks in emerging market economies experimenting with c...
New Virginia law allows state-chartered banks to custody crypto
A Virginia bill allowing state-chartered banks to provide custodial services for “virtual currency” was approved by Governor Glenn Youngkin on Monday. The law, which will come into effect on July 1, w...
Wells Fargo WFC earnings Q12022
Wells Fargo signage on May 5th, 2021 in New York City. Bill Tompkins | Michael Ochs Archives | Getty Images Wells Fargo on Thursday reported lower-than-expected first-quarter revenue amid a drop in mo...
Citigroup C earnings 1Q 2022
Jane Fraser, incoming CEO of Citigroup. Citigroup Citigroup is scheduled to report first-quarter earnings before the opening bell Thursday. Here’s what Wall Street expects: Earnings: $1.55 a sha...
Morgan Stanley MS earnings 1Q 2022
A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE), January 19, 2022. Brendan McDermid | Reuters Morgan Stanley is set to report first-quar...
GS earnings 1Q 2022
David M. Solomon, Chairman and CEO of Goldman Sachs, speaks during the Milken Institute’s 22nd annual Global Conference in Beverly Hills, April 29, 2019 Mike Blake | Reuters Goldman Sachs is sch...
Stock futures are little changed ahead of major bank earnings Thursday
Stock futures were muted Thursday morning as investors awaited quarterly earnings results from some of the biggest U.S. banks. Dow Jones Industrial Average futures rose 26 points. S&P 500 futures ...
Buy JPMorgan Stock. Despite Losing Some of Its Swagger, Shares Are Cheap.
There is a little less swagger than usual at JPMorgan Chase these days, and that’s probably good news for investors. Shares of the bank, the industry leader in market value and profits, are down 17% t...