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Crypto Companies Still Run Into Trouble Opening Bank Accounts

Companies in the cryptocurrency industry still have trouble opening bank accounts, major financial publication Bloomberg reported on March 3. The report cites the complaint of Sam Bankman-Fried, CEO of quantitative crypto trading company Alameda…
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Bank of China Joins New Blockchain Platform for Property Buyers

Property development firm New World Development and the Hong Kong Applied Science and Technology Research Institute (ASTRI) will jointly launch a blockchain platform for home buyers with the Bank of China reportedly being the first bank user.…
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Short The Bankers: Another Major Bank Ordered Closed for Money Laundering

Danske Bank has been ordered to close up in Estonia following another money laundering scandal. It is not the first time a major bank has been involved in money laundering and it will not be the last, which is all good news for crypto. One of…
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Japan’s Number Two Bank by Assets Completes R3 Blockchain-Based Trade Finance Trial

Japan’s second-largest bank by assets, Sumitomo Mitsui Banking Corporation (SMBC), has completed a proof-of-concept (PoC) using blockchain consortium R3’s Marco Polo trade finance platform. A press release confirmed the PoC completion on…
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Former Governor of French Central Bank Joins Board of Directors of Blockchain Firm Setl

British blockchain technology group Setl has hired former governor of the French central bank Christian Noyer as a member of its board of directors. The new appointment was confirmed in a blog post published on Jan. 17. Founded in 2015, Setl…
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What We Know About Yellow Vests’ Bank Run and How Crypto Could Help It

On Jan. 7, activists of the French grassroots political movement the Gilets Jaunes — Yellow Vests — announced a bank run via social media, essentially hoping to meet their goals by destabilizing the local financial system. Dubbed the “Collectors’…
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European Central Bank Policy Maker Calls Crypto ‘a Fairy-Tale Story’

A member of the Governing Council of the European Central Bank (ECB) has warned that “the [cryptocurrency] bubble has already started to collapse,” Bloomberg reported Jan. 7. Speaking at a conference in Riga, Latvia, Ardo Hansson — also…
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Bank of America Files Patent for Blockchain-enabled Cash Handlers

Bank of America (BoA) has filed another blockchain patent, documents with the USPTO reveal. The American multinational investment bank stated that it would use blockchain, the underlying technology which powers the world’s leading cryptocurrency…
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Japanese Electric Power Company Partners With Bank, University on Blockchain Research

A four-way partnership between major Japanese companies will conduct research into the possible use of blockchain in distributed electricity supply, a press release announced Monday, Oct. 15. Kansai Electric Power Co. (Kepco) will work with…
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Swiss Startup Raises $103 Million to Launch Cryptocurrency Bank

Switzerland-based startup SEBA Crypto AG has raised 100 million Swiss francs ($103 million) to set up a bank offering cryptocurrency-related services, Reuters reported September 26. SEBA is reportedly headed by former UBS bankers — Guido…