Banks may soon take a softer stance on crypto as the Basel Committee prepares to revise its 2022 guidance on banks’ exposure to digital assets, according to Bloomberg. Global banks may soon take a more favorable view of cryptocurrencies as the Basel Committee on Banking Supervision (BCBS) prepares to revise its landmark guidance on crypto exposure, according to a Bloomberg report published Friday. According to Bloomberg, citing sources familiar with the matter, the Basel Committee’s 2022 guidance on banks’ treatment of crypto will be updated next year to be more favorable. This follows the issuance of previous standards in 2022, with most banks interpreting them as a signal to avoid crypto altogether. Bloomberg’s sources said the Basel Committee recently held talks about the appropriateness of the previous rules, which the United States, United Kingdom and the European Union have yet to fully implement. Read more
Banks may soon take a softer stance on crypto as the Basel Committee prepares to revise its 2022 guidance on banks’ exposure to digital assets, according to Bloomberg. Global banks may soon take a more favorable view of cryptocurrencies as the Basel Committee on Banking Supervision (BCBS) prepares to revise its landmark guidance on crypto exposure, according to a Bloomberg report published Friday. According to Bloomberg, citing sources familiar with the matter, the Basel Committee’s 2022 guidance on banks’ treatment of crypto will be updated next year to be more favorable. This follows the issuance of previous standards in 2022, with most banks interpreting them as a signal to avoid crypto altogether. Bloomberg’s sources said the Basel Committee recently held talks about the appropriateness of the previous rules, which the United States, United Kingdom and the European Union have yet to fully implement. Read more
Like early email protocols, DeFi remains complex and isolated. Bridging DeFi and TradFi through hybrid payment solutions could unlock crypto’s mainstream potential. Opinion by: Mark Jones, founder of Hana Wallet It’s often forgotten that the first emails were sent between US college professors looking to share files and work collaboratively in the early 1970s. The sending of emails between two professors initially involved using a closed system between two computers on the ARPANET that would enable messages to be sent over the File Transfer Protocol. The process was slow, complex, time-consuming and consequently didn’t gain any traction beyond Ivy League universities or government research facilities. Read more
Like early email protocols, DeFi remains complex and isolated. Bridging DeFi and TradFi through hybrid payment solutions could unlock crypto’s mainstream potential. Opinion by: Mark Jones, founder of Hana Wallet It’s often forgotten that the first emails were sent between US college professors looking to share files and work collaboratively in the early 1970s. The sending of emails between two professors initially involved using a closed system between two computers on the ARPANET that would enable messages to be sent over the File Transfer Protocol. The process was slow, complex, time-consuming and consequently didn’t gain any traction beyond Ivy League universities or government research facilities. Read more
Anticipation of Ripple’s annual event has failed to lift investor sentiment as XRP price risks dropping to $2 in the coming days or weeks. Key takeaways: XRP price dropped 7.5% this week despite the upcoming Ripple Swell event, which has historically sparked pre-conference rallies. XRP’s rounded top chart pattern projects a drop to $2.09 if support levels fail to hold. Read more
Bitcoin has become a $2 trillion asset in the 17 years since Satoshi Nakamoto published the white paper, but it faces its first red October since 2018. Update Oct. 31, 6:31 p.m. UTC: This article has been updated to include comments from Narek Gevorgyan, the founder and CEO of CoinStats. Bitcoin’s foundational document turned 17, marking the journey of the world’s first decentralized digital currency from a niche financial experiment to a $2 trillion global asset held by governments and institutions. Bitcoin creator Satoshi Nakamoto first shared the Bitcoin white paper 17 years ago today, on Oct. 31, 2008, in response to the global financial crisis. Read more
Canaan will supply 4.5 megawatts of water-cooled Bitcoin mining ASICs to a Japanese engineering firm for real-time grid balancing and energy optimization. Mining hardware producer Canaan won a contract to supply 4.5 megawatts (MW) of Bitcoin mining application-specific integrated circuits (ASICs) for a project designed to help stabilize Japan’s electric grid. According to a Thursday announcement, the company will supply an electrical engineering solutions provider Bitcoin mining ASICs with a capacity of 4.5 MW. The project will deploy Canaan’s new Avalon A1566HA-488T water-cooled mining ASICs for “real-time grid balancing and energy-efficiency optimization,” Canaan said. The mining operation will run continuously and utilize controlled overclocking and underclocking, adjusting power consumption to stabilize the regional grid load. Canaan’s proprietary control systems will dynamically adjust frequency, voltage and hashrate to match power supply and demand. Read more