Ferrari, the renowned Italian luxury sports car manufacturer, recently announced its plans to broaden its cryptocurrency payment system to its European dealer network by the end of July. The company also has ambitions to extend this option to more countries within its global dealership network where digital currencies are legally recognized by the end of
Payments
Two prominent crypto companies, Coinbase and Revolut, recently found themselves on opposite ends of the spectrum when it came to dealing with the UK authorities. The UK’s Financial Conduct Authority (FCA) imposed a fine of £3.5 million ($4.5 million) on CB Payments Limited (CBPL), a subsidiary of Coinbase Group, for violations related to Anti-Money Laundering
Recently, the Russian State Duma passed a bill legalizing Bitcoin mining and allowing the use of cryptocurrency for international trade. This bill, which has been in the works for a few years, is expected to come into effect on September 1st, pending final approval. The legislation aims to address the challenges faced by Russian banks
In recent developments, the once-defunct cryptocurrency exchange Mt. Gox has begun repaying creditors impacted by the 2014 hack. This move has sparked interest and speculation within the crypto community, particularly regarding the potential impact on the market. Initially, there were concerns among crypto investors that the repayment of Bitcoin and Bitcoin Cash to Mt. Gox
State Street Corp., a well-established financial institution based in Boston, is delving into the realm of digital assets by considering the launch of its own stablecoin and exploring tokenized deposits. This move is aimed at enhancing payment settlement processes through the utilization of blockchain technology. Recent reports indicate that State Street has been actively immersing
In the month of June, trading volume on centralized exchanges experienced a significant decline of 21.8%, marking the third consecutive month of diminishing activity since March. The combined spot and derivatives trading volume across these platforms amounted to $4.2 trillion, down from a peak of $9 trillion recorded earlier in the year. The decrease in
In a recent development, a US court has granted Binance US the permission to invest a portion of its customer fiat funds, currently held at BitGo, in US Treasury Bills. This decision comes after the exchange requested the court’s approval to invest around $40 million in $10 million increments over a span of four weeks.
The Ministry of Finance in Russia has put forward a proposal to allow traditional exchanges to facilitate digital asset trading for a specific group of investors. This proposal aims to create specialized regulations for organized trading in digital currencies, considering them as commodities, based on either an exchange license or a trading system license. The
JP Morgan, a prominent American multinational finance company, has recently expressed optimism about the future performance of Bitcoin, despite recent bearish trends in the market. The bank has provided a timeline for the conclusion of ongoing BTC liquidations, forecasting a potential rebound in the market. According to a research report released by JP Morgan, the
The recent partnership between Wirex and Visa has sparked excitement in the financial world, as two major players in digital payment processing come together to revolutionize the way we handle transactions. Wirex, known for its cutting-edge Web3 money app, and Visa, a frontrunner in global digital payments, have joined forces with the goal of advancing