Major Japanese Bank Sumitomo Mitsui Trust to Launch Cryptocurrency Custody Business

Sumitomo Mitsui Trust, one of the major banking institutions in Japan, will reportedly enter the cryptocurrency custody business. The company is entering a partnership with Bitbank, a Tokyo-based cryptocurrency exchange, to launch a new company that will focus on offering institutional-grade custody for digital assets and NFTs. Sumitomo Mitsui Trust Bank to Enter Digital Custody Business Sumitomo Mitsui Trust Bank, a major financial institution in Japan, has decided to enter the cryptocurrency custody business. The company announced that it will launch a digital assets custody company in partnership…

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Examining Big Bank Price Manipulation And Bitcoin

[ad_1] Part One: But This Is How We’ve Always Done Things … There is a great story floating around the web about a married couple and a ham (full story). In brief, the wife is preparing a ham for dinner and in doing so, cuts approximately 1 inch off of two sides of the ham and throws them away. The husband, visibly upset, proclaims, “That’s a waste of good ham!” When asked what the rationale was, the wife didn’t know, simply stating that this was the way that her mother…

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Central Bank of Argentina Prepares New Regulations for Digital Wallets – Regulation Bitcoin News

[ad_1] The Central Bank of Argentina is reportedly working on a new group of regulations seeking to control the totality of the digital wallets in the country. This new legal framework is directed at stopping fraud said to be facilitated by these tools. According to leaks on local media, the publication of the law is imminent. Central Bank of Argentina Targets Digital Wallets The Central Bank of Argentina has its sights on the use of digital wallets. The directory of the bank is reportedly producing a new set…

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Bank of Spain Governor Warns About Traditional Banking’s Exposure to Crypto Assets – Bitcoin News

[ad_1] The Governor of the Bank of Spain has alerted the public about the risks mixing traditional banks with crypto assets might bring to the economic system. Pablo Hernández de Cos stated that the direct or indirect exposure to these assets would increase the risks associated with the financial institutions. De Cos also stated that while this exposure is still low, it is constantly going up due to the integration of crypto services within these platforms. Governor of Bank of Spain Notes Risks Associated With Banks Integrating Crypto Services…

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President of Central Bank of Peru Criticizes Crypto, Citing Lack of Intrinsic Value and Climate Change – Emerging Markets Bitcoin News

[ad_1] Julio Velarde, the president of the Central Bank of Peru, attacked the value of cryptocurrencies and referred to negative effects they are said to have on the environment. In a recent interview with local media, Velarde said the Bank did not consider bitcoin a payment method. Instead, Velarde referred to it as a “highly volatile financial asset,” that people purchase for this volatility risk. President of Bank of Peru Blasts Crypto Julio Velarde, the president of the Central Bank of Peru, recently shared his opinion and the…

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Central Bank Governor Says Kenya’s Position on Cryptocurrencies Has Not Changed – Emerging Markets Bitcoin News

[ad_1] Kenya’s position on cryptocurrencies is still unchanged the governor of the Central Bank of Kenya (CBK), Patrick Njoroge has said. Njoroge latest remarks come as Kenya continues to cement its position as one of the countries on the African continent that has the highest adoption of cryptocurrencies. CBK’s New Stance of Cryptocurrencies to Be Unveiled Soon The governor of the Central Bank of Kenya (CBK), Patrick Njoroge, has said Kenya’s stance on cryptocurrencies remains unchanged. Njoroge, who made the comments soon after the CBK’s monetary policy announcement, revealed however…

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Malaysia’s Central Bank actively assessing CBDC options

[ad_1] Malaysia has joined the growing cadre of nations that are exploring the value of researching and developing a central bank digital currency (CBDC). Malaysia’s central bank, Bank Negara Malaysia, stated to Bloomberg on Jan. 17 that while a decision about exactly how to move forward with a CBDC has not yet been determined, it has focused research on a CBDC “via proof-of-concept and experimentation to enhance our technical and policy capabilities.” It also stated that the ostensible reason for the current research effort was to ensure it is prepared…

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Bank of America Says Solana Could Take Market Share From Ethereum, Become the ‘Visa of the Digital Asset Ecosystem’ – Altcoins Bitcoin News

[ad_1] Bank of America’s analyst says that Solana could take market share away from Ethereum. Noting that Solana is optimized for micropayments, gaming, and non-fungible tokens (NFTs), the analyst expects “Solana could become the Visa of the digital asset ecosystem.” Bank of America on Crypto, Ethereum, and Solana Bank of America (BOFA) analyst Alkesh Shah published a research note on cryptocurrency this week arguing that Solana could take market share away from Ethereum. The Bank of America analyst described that Solana “produces a blockchain optimized for consumer use cases by…

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Bank of Russia to ban mutual funds from investing in Bitcoin

[ad_1] The Russian central bank continues its strict policies regarding the cryptocurrency industry, now officially banning mutual funds from investing in cryptocurrencies like Bitcoin (BTC). On Dec. 13, the Bank of Russia published an official statement on regulating investment opportunities by mutual investment funds. Despite expanding the number of assets available for investment by mutual funds, the document prohibits fund managers from buying cryptocurrencies as well as “financial instruments whose value depends on prices of digital assets.” The statement emphasizes that mutual funds are not allowed to provide crypto exposure…

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NFT music platforms to disrupt Spotify in 2022, Saxo Bank predicts

[ad_1] As popular music streaming services like Spotify cut much of musicians’ revenues, new technologies like nonfungible tokens (NFTs) are likely to help artists grab back their fair share, Saxo Bank predicted. According to one of Saxo Bank’s Outrageous Predictions 2022: Revolution, music creators would benefit from NFT-based streaming platforms as they allow distributing music directly to listeners without centralized middlemen charging a fee. Saxo Bank’s cryptocurrency analyst Mads Eberhardt argued that mainstream music streaming platforms like Spotify and Apple Music take a substantial cut, which together with the cut…

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