Gluwa Financial Platform Unveils Venture Debt Fund on Ethereum

Gluwa, a financial platform based in San Francisco, has launched the first social-impact venture debt fund on the Ethereum blockchain network. This fund aims at offering retail investors a fixed APY of 12% and promoting financial inclusion. How the Fund Works The vision of Gluwa is to connect investors globally to yield large and provide… Continue reading Gluwa Financial Platform Unveils Venture Debt Fund on Ethereum

China will maintain prudent monetary policy, says central bank official

FILE PHOTO: Pan Gongsheng, vice governor of the People’s Bank of China (PBOC), attends a news conference during the ongoing session of the National People’s Congress (NPC) in Beijing, China March 10, 2019. REUTERS/Jason LeeBEIJING (Reuters) -China will maintain prudent monetary policy and not resort to flood-like stimulus, said Pan Gongsheng, vice governor of the… Continue reading China will maintain prudent monetary policy, says central bank official

FMA censures Wellington financial firm FoxPlan for offering and providing unpermitted investment advice

A Wellington-based financial services firm has been censured by the country’s markets watchdog after unauthorised advice was offered to some of its clients. The Financial Markets Authority (FMA) said in a statement today it has formally censured FoxPlan Ltd after one of its nominated representatives provided services he was not permitted to give. Other FoxPlan… Continue reading FMA censures Wellington financial firm FoxPlan for offering and providing unpermitted investment advice

FMA censures Wellington financial firm FoxPlan for offering and providing unpermitted investment advice

A Wellington-based financial services firm has been censured by the country’s markets watchdog after unauthorised advice was offered to some of its clients. The Financial Markets Authority (FMA) said in a statement today it has formally censured FoxPlan Ltd after one of its nominated representatives provided services he was not permitted to give. Other FoxPlan… Continue reading FMA censures Wellington financial firm FoxPlan for offering and providing unpermitted investment advice

US financial agencies will meet to discuss the future impact of stablecoins

U.S. Secretary of the Treasury Janet L. Yellen announced plans to convene the President’s Working Group on Financial Markets, or PWG, as well as the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation to discuss possible interagency work with regard to stablecoins. The meeting is set to take place on… Continue reading US financial agencies will meet to discuss the future impact of stablecoins

Multinational Financial Institutions Launch Blockchain-Based Carbon Marketplace

National Australian Bank has joined forces with other financial institutions including North America’s CIBC, Itau Unibanco, and NatWest Group, to launch a carbon offset marketplace dubbed Project Carbon. The Ethereum blockchain-based pilot aims to build a robust ecosystem for carbon offsets, according to a press release on July 7, 2021. Supporting the War Against Global… Continue reading Multinational Financial Institutions Launch Blockchain-Based Carbon Marketplace

Germany’s financial watchdog approves crypto custody license for Coinbase

The Federal Financial Supervisory Authority has issued a crypto custody business license for Coinbase’s Germany arm. In a Monday announcement, Germany’s Federal Financial Supervisory Authority, also known as BaFin, said it had issued Coinbase the first such license for a crypto exchange related to custodying digital assets in the country. The regulator said due to… Continue reading Germany’s financial watchdog approves crypto custody license for Coinbase

Germany’s financial watchdog approves crypto custody license for Coinbase

The Federal Financial Supervisory Authority has issued a crypto custody business license for Coinbase’s Germany arm. In a Monday announcement, Germany’s Federal Financial Supervisory Authority, also known as BaFin, said it had issued Coinbase the first such license for a crypto exchange related to custodying digital assets in the country. The regulator said due to… Continue reading Germany’s financial watchdog approves crypto custody license for Coinbase

UK Financial Watchdog Clamps Down On World's Largest Crypto Exchange, Binance

UK financial watchdog, the Financial Conduct Authority, has halted cryptocurrency exchange Binance from operating in the UK. In a statement titled “Consumer warning on Binance Markets Limited and the Binance Group” published on the organization’s official website on Saturday, the FCA stated that Binance Markets Limited “is not permitted to undertake any regulated activity in… Continue reading UK Financial Watchdog Clamps Down On World's Largest Crypto Exchange, Binance

Financial Regulators Propose a Rule that Could Shatter Bank’s Interest in Crypto

The financial situation for Banks that have their eye on crypto may have just taken a sharp turn, as the Swiss financial committee says banks should set aside money to protect investors from losses incurred in cryptocurrency holdings. Banks ‘Under Siege’ A committee centered in Basel, made up of a group of financial watchdogs globally,… Continue reading Financial Regulators Propose a Rule that Could Shatter Bank’s Interest in Crypto

Jailed financial adviser Barry Kloogh’s wife breaks silence

Barry Kloogh’s wife has spoken publicly about her husband’s theft for the first time, saying she had been “destroyed” by his offending. Kloogh is serving a prison term for stealing millions of dollars from dozens of clients through a Ponzi scheme. His wife Svetlana Spectra, an artist, is about to open a gallery in Mosgiel.… Continue reading Jailed financial adviser Barry Kloogh’s wife breaks silence

Australian Financial Regulator Limits Crypto Leverage To 2:1

Starting on Monday 29, cryptocurrency traders in Australia would be able to trade digital assets with a maximum leverage of 2:1. The Australian Securities and Investments Commission (ASIC) has recently announced new restrictions for investors to reduce their losses while trading CFDs and digital assets.  Crypto Leverage to Be Reduced to 2:1 in Australia Australia… Continue reading Australian Financial Regulator Limits Crypto Leverage To 2:1

Germany’s financial watchdog shuts Greensill Bank

Germany’s financial watchdog has temporarily shuttered Greensill Bank and asked law enforcement officials to investigate accounting irregularities at the lender, compounding the woes of parent company Greensill Capital. Regulator BaFin on Wednesday (Germany time) said it closed the Bremen-based lender for business after finding irregularities in how Greensill Bank booked assets tied to a key… Continue reading Germany’s financial watchdog shuts Greensill Bank

Biden's SEC nominee vows review of GameStop trading issues, climate disclosures

WASHINGTON (Reuters) – U.S. President Joe Biden’s pick to head a key market regulator promised on Tuesday a thorough review of issues raised by the GameStop Corp stock frenzy and suggested companies may have to disclose their potential risks from climate change.FILE PHOTO: Federal Trade Chairman Joseph Simons, (L), Federal Trade Commissioners (2nd L-R), Rohit… Continue reading Biden's SEC nominee vows review of GameStop trading issues, climate disclosures

Canada: CI Financial Files for Ethereum (ETH) ETF

On 25 February, CI GAM (CI Global Assets Management) heralded the filing of the CI Galaxy Ethereum ETF; furthermore, it received a preliminary prospectus for the same. The First ETH ETF As the company looks forward to the ETF launch, it will stand as the first-ever ETF investing directly on ETH. Also, it has selected… Continue reading Canada: CI Financial Files for Ethereum (ETH) ETF

Ilhan Omar's financial transaction tax would hurt Main Street: GameStop hearing expert

There will be ‘policy reaction’ to GameStop stock trading frenzy: Gasparino FOX Business’ Charlie Gasparino weighs in on what may come out of the GameStop congressional hearing. A financial transaction tax would not have prevented the stock-market dislocations caused during the GameStop trading frenzy and would hurt Main Street investors, according to Congressional testimony. “Financial… Continue reading Ilhan Omar's financial transaction tax would hurt Main Street: GameStop hearing expert

New Zealand Financial Regulator Warns About Risks of Investing in Bitcoin

New Zealand is among those countries which are constantly printed on progress and innovations. The country has a very open approach towards many industries. The progress and the tolerance in many fields have been very vibrant during the pandemic period and the way the country dealt with the severe economic and social crisis as well. … Continue reading New Zealand Financial Regulator Warns About Risks of Investing in Bitcoin

South Africa Financial Regulator Issues Crypto Investment Warning

South Africa’s regulatory body, the Financial Sector Conduct Authority (FSCA) like other global regulators, has warned citizens to be wary of crypto investment schemes that sell hyperbolic returns on investment (ROI) amid crypto’s bull run. Meanwhile, the country’s tax body recently sent out requests to taxpayers to reveal crypto-related activities.  FSCA Calls for Caution in… Continue reading South Africa Financial Regulator Issues Crypto Investment Warning

User Financial Data Protection Coin PIVX Activated SHIELD Privacy Protocol on Mainnet January 30th, 2021

2nd February 2021, Georgia, USA: PIVX (Protected Instant Verified Transaction), a User Financial Data Protection focused digital cryptocurrency, activated the new protocol SHIELD on its mainnet January 30th, 2021. This novel implementation of zk-SNARK Sapling into a Proof of Stake blockchain introduces unparalleled user financial data protection.  A custom advanced user interface provided through the… Continue reading User Financial Data Protection Coin PIVX Activated SHIELD Privacy Protocol on Mainnet January 30th, 2021

UBS Says Financial Technology Could Be Huge in 2021: 4 Stocks to Buy Now

Mega-cap technology stocks have dominated, not only in 2020, but over the past decade. While many feel that this is the sector to stay with going forward, historical data says that may not be the case. In fact, the team at UBS recently noted that since 1973, if a U.S. equity sector was a top-two… Continue reading UBS Says Financial Technology Could Be Huge in 2021: 4 Stocks to Buy Now

Financial advisers are betting on Bitcoin as a hedge

Cryptocurrencies like Bitcoin (BTC) are increasingly being used by financial advisers as a hedge against inflation, underscoring the dramatic shift in institutional sentiment toward digital assets.  The “Bitwise/ETF Trends 2021 Benchmark Survey” reveals that 9.4% of financial advisers were allocating to cryptocurrencies in 2020 — an increase of 49% from the previous year. Of the advisers… Continue reading Financial advisers are betting on Bitcoin as a hedge

Number of financial planners investing in crypto increases by 50%

A survey published by crypto index fund provider Bitwise Asset Management has found the number of financial advisors allocating capital toward crypto has increased by roughly 50% in one year. The survey, conducted in partnership with investment website ETF Trends, queried nearly U.S.-based 1,000 financial advisors in December. The findings indicate that 9.4% of client… Continue reading Number of financial planners investing in crypto increases by 50%

Japanese financial giant SBI acquires crypto trading firm B2C2

Japanese financial giant SBI has completed another cryptocurrency-related acquisition in a move to bring more adoption to the industry. SBI Financial Services, a subsidiary of SBI Holdings, has acquired United Kingdom-based crypto trading firm B2C2. According to an official Dec. 16 announcement, SBI has purchased a 90% stake in B2C2, making it a subsidiary. The… Continue reading Japanese financial giant SBI acquires crypto trading firm B2C2