Advancing Bitcoin Banking IMF Asks Banks to Curb Excesses
In Monday's Global Financial Stability Report, the IMF warned of a coming liquidity crisis and ramp-up in market volatility. Digging deeper into the report, CCN uncovers IMF admissions of the banking sector's failure to manage risk, as well as, advice to banks to prepare for a public backlash due to perceived excesses. Part three of the IMF's Global Financial Stability Report entitled Risk Taking By Banks: The Role of Governance and Executive Pay has been an insightful read. In a nutshell, the report has the IMF rapping the global banking industry over the knuckles for excesses and a lack....
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On the Nasdaq website, Martin Tillier asks, "Could Bitcoin Destroy the Global Banking System?"Tillier imagines a possible "Kodak moment" for the whole banking industry. In the early days of mobile phones, only a few enthusiasts dared to imagine that camera-equipped phones could ever threaten established camera manufacturers, but Kodak was forced to declare bankruptcy only a few years later, in 2012. Tillier's answer is that yes, Bitcoin could seriously hurt the banking system. The reason is very simple:"Banks are so used to taking a cut every time money changes hands that they cannot....
In the light of recent events concerning the curb on the Unified Payments Interface on cryptocurrencies, leading banks have now asked for a formal directive from the National Payments Corporation of India (NCPI). The supposed “shadow ban” on cryptocurrencies has created a lot of conjecture amongst leading banks. This curb came into effect just based […]
The Bitcoin price hit $400 in the Bitstamp exchange chart. Price is currently trading in the $390s and looks set to establish trade above $400 in the coming days. Meanwhile, delving further into yesterday's special IMF report, a message to the banking sector emerges: Manage Perceptions. Also read: Banking Elite Meet In Washington to Discuss Bitcoin Threat. IMF: Banks Should Manage Perceptions. Global Economy. Bitcoin Price Analysis. Comments. IMF: Banks Should Manage Perceptions. In part three of the IMF's Global Financial Stability Report entitled Risk Taking By Banks: The Role of....
Indian central bank, the Reserve Bank of India (RBI), has officially advised banks that its banking ban circular is no longer valid as it was set aside by the country’s supreme court more than one year ago. Despite the supreme court’s ruling, banks have been citing the RBI circular when dealing with cryptocurrency. RBI Tells Banks to Stop Quoting Its ‘No Longer Valid’ Circular on Cryptocurrency India’s central bank, the Reserve Bank of India (RBI), issued a notice on Monday clarifying its position regarding cryptocurrencies. The notice, entitled....
The Bitcoin price is consolidating below $400. Trend has achieved a several confirmations of advance and some others are yet to be printed in the chart. We consider the outlook for the week and also look at other key indicators. Global Economy. Bitcoin Price Analysis. Summary. Comments. Global Economy. An important week ahead in the economic calendar. Inflation figures for Australia, New Zealand and the US will be released, as well as, GDP data for China and the UK. Several manufacturing measures (China, Germany and the US) will weigh on the general view that a global slowdown has begun.....