The banks stated that using the blockchain technology will help them reduce the time of processing bank guarantees from a month to just one day.
The financial regulator plans to ban leveraged crypto products which allow investors to trade much above their existing collateral.
Bitcoin enters major correction and slips below crucial support levels of $10000. Further downside could be expected from here.
The decision from the Bank of International Settlements (BIS) comes amidst citing the growing competition in the payments market after Facebook’s Libra launch.
Commissioner Pierce says that SEC laggard attitude towards crypto products can be detrimental to innovation and growth in the industry.
The looming regulatory uncertainty in India is putting pressure on local crypto businesses as one more crypto exchange announces its closure.
Malta, which is well-known for its relaxed crypto and blockchain policies, has recently announced the introduction of a blockchain system for the registration of rental contracts.
Bitcoin surges over 8% on Tuesday to hit its new 2019-high above $12,700 levels. Next target of $13,000 looks imminent.
Economist Moore says that the central bank crypto will aim towards introducing stability in the traditional cryptocurrency market by controlling the supply.
In a bid to keep a check on cryptocurrency money laundering and terror financing activities, the FATF will strengthen its hold over crypto exchanges.