Finance and Business News

The world’s biggest economies are assessing stablecoins as a potential risk to the global financial system, according to a statement from the Financial Stability Board (FSB). In a letter to G20 finance ministers and central bank governors on Sunday, the FSB’s chair Randal Quarles said the G7 working group is delivering an assessment report on […]

Three U.S. financial regulators on Friday issued a warning to firms with registered digital assets that they have an obligation to follow securities laws prohibiting money laundering and requiring disclosure of suspicious activity. The notice, from the U.S. Securities and Exchange Commission, Commodity Futures Trading Commission and the Financial Crimes Enforcement Network, seeks to clarify […]

The US Federal Reserve announced that it would begin buying $60 billion of treasury bills per month to improve its control over the interest rate. Federal Reserve called these actions purely technical to support the effective implementation of the interest-rate policy. FED also emphasized that this does represent a change in its monetary stance. The […]

Over the last few weeks, the U.S. Federal Reserve has enacted policies that will have critical repercussions for the economy and Market Manipulations. These maneuvers cast a spotlight on the role of central and private banks, and provide an opportunity to think about how decentralized technologies can restore fairness to U.S. consumers. On September 18th, […]

Coinbase Custody now allows Maker (MKR) holders to participate in the project’s governance without withdrawing their funds. The announcement comes from a Coinbase blog post published on Oct. 11. By implementing the governance feature, Coinbase Custody enables MKR holders to participate in on-chain governance directly on the platform, avoiding the need to withdraw their funds […]

Over the past five years as the global economy has continued to recover from the Great Recession, shares of the British lender Barclays (BCS) have plummeted over 40%. “Oh, it’s undervalued,” Barclays CEO Jes Staley said of his bank’s stock price. “I’m happy to say that.” On Thursday, Staley told Andy Serwer at the All […]

Bitwise Asset Management and NYSE Arca have confirmed they will refile their application for a Bitcoin ETF ( exchange-traded fund ) after United States regulators rejected it. Bitwise Bitcoin ETF: We intend to refile According to a news release published on Oct. 9, the companies said that while the U.S. Securities and Exchange Commission (SEC) […]

The United States’ second-largest bank appears to have hired a specialist for the implementation of blockchain-based payment network Ripple. Bank seeks Ripple Specialist team lead According to a job description on professional social network LinkedIn, as of Oct. 10, Bank of America (BoA) had stopped accepting applications for what it calls a “treasury product manager” […]

The Bank of England has finalized a set of principles the Facebook-led Libra cryptocurrency project must adopt before going live in the UK. Calling the payment network a potentially “systemically important payment system,” the BoE’s Financial Policy Committee released the Bank of England October Financial Policy and Summary report this week. “The FPC judges that […]

Despite the recent turmoil surrounding Facebook’s cryptocurrency project, Libra Payment System, the Bank of England has given it quite the endorsement. The institution is reportedly setting out rules of engagement that Libra and other cryptocurrency payment providers would have to meet prior to opening up shop in Britain. Bank of England Endorses Libra Payment System […]

As part of its massive restructuring and cost cuttings, Deutsche Bank is looking to axe several thousand jobs in the next two years. Germany’s banking giant Deutsche Bank AG is planning to axe several thousand jobs in the country as per its proposed plans of cutting down half od 18,000 jobs. A person familiar with […]

Mutual fund giant Vanguard has partnered with Nasdaq Ventures-backed blockchain startup Symbiont to developing a trading platform for the $6 trillion currency market, the companies said. With the new platform, Vanguard, which manages $5.2 trillion, aims to lower transaction costs for the trillions of dollars worth of currencies it trades annually by boosting peer-to-peer trading […]

U.S. job openings fell to a 1-1/2-year low in August and hiring declined, suggesting employment growth was slowing largely because of ebbing demand for labor as the economy loses momentum. Despite the third straight monthly drop in vacancies reported by the Labor Department on Wednesday, U.S. job openings are still plenty enough to ease financial […]