Bitcoin Bank Acceptance Spotlight: De Nederlandsche Bank
It has been over a year since De Nederlandsche Bank (DNB), the Dutch Central Bank, was vocal about bitcoin. The bank previously voiced its opinion that “virtual currencies are not a viable alternative” to fiat currency, and that they “are unlikely to become a viable alternative for traditional currency in the foreseeable future.” Perhaps because of....
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The Netherlands state-owned bank, ABN Amro, is the eighth largest bank in Europe and the 15th largest bank on Earth. Last month, the head of the bank’s Innovation Centre, Arjan van Os, posted a long and rousing blog post with one of the most bullish statements on the subject of the blockchain seen from any bank to date. This post was made on the bank’s....
The warning follows authorities in several countries issuing statements warning investors to exercise caution in regards to Binance, or claiming the exchange was operating illegally. De Nederlandsche Bank, the central bank of the Netherlands, issued a warning to Binance Holdings Limited and its entities offering crypto services to local residents.In a Wednesday statement, De Nederlandsche Bank said the major crypto exchange was not operating in compliance with the country’s Anti-Money Laundering and Anti-Terrorist Financing Act, alleging Binance customers were at risk of “becoming involved....
The Dutch central bank has fined cryptocurrency exchange Binance 3.325 million euros for offering crypto services in the Netherlands without the legally required registration. Binance has appealed against the fine and has now submitted an application to register with the central bank. Binance Fined by Dutch Regulator The Dutch central bank, De Nederlandsche Bank (DNB), revealed Monday that it has fined Binance Holdings Ltd. for offering crypto services without registration as required by law. The administrative fine of 3.325 million euros ($3.4 million) was imposed on the cryptocurrency....
Citigroup, Inc., better known as just ‘Citi,’ is the 3rd largest US bank by assets, and the 13th largest in the world. Founded in 1812 and headquartered in Manhattan, Citi was one of the primary dealers of US Treasury securities up until the 2008 financial crisis. The recession took a heavy toll on the bank, requiring a bailout from the US government to....
The Bank of Canada has joined the list of bank-related institutions to commission research papers regarding the use of digital currencies, particularly Bitcoin. Its two authors came up with an economic framework to analyze their exchange rates. Blockchain as a challenge for central banks. The Bank of England had earlier released a research paper that studied the macroeconomic consequences of issuing central bank digital currency (CBDC). The 2015 paper by the Bank for International Settlements noted that the emergence of distributed ledger technology could present a hypothetical challenge....