PYMNTS

JULY 5, 2019

Ireland’s central bank has fined Wells Fargo 5.9 The fine is the second biggest ever issued by the bank, and it’s for five breaches that happened between 2014 and 2019, which include failure to report the bank’s capital position, which brought to light “serious and systemic weaknesses” in its reporting. .

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Central Bank Federal Reserve Breach Caps 43

Payments Dive

MAY 25, 2022

digital dollar would take $720 billion in deposits out of banks even if the central bank were to cap accounts at $5,000 per "end user," the American Bankers Association wrote in a letter.

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CBDC Fed Caps Central Bank 78

PYMNTS

JANUARY 11, 2021

According to Coinmarketcap, the overall value of the cryptocurrency market — or market cap —was $880 billion Monday morning, down from $1.08 This occurred because investors went hunting with interest rates ow as central banks sought to stem the pandemic’s economic crisis. 7), the cryptocurrency market cap topped $1 trillion.

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Cryptocurrency Bitcoin Caps Central Bank 91

Fintech News

DECEMBER 13, 2024

These initiatives also seem to complement ongoing efforts to develop Central Bank Digital Currencies (CBDCs), as both digital assets aim to modernise traditional financial systems. Operating on Ethereum and other blockchain networks, XSGD boasts a market cap exceeding $18 million. With a market cap of $4.8

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Stablecoins Cross-Border Cross-Border Payments Caps 108

PYMNTS

NOVEMBER 10, 2020

To get a sense of just how hard it is for cryptocurrencies to gain, well, currency in everyday life, consider bitcoin, perhaps the granddaddy of cryptocurrencies — and still the 900-pound gorilla in the space, with roughly two-thirds of the market cap across the entire sector.

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Cryptocurrency Blockchain Bitcoin Online and Mobile Banking 129

The Fintech Times

AUGUST 5, 2024

DECTA Limited, with its EMI license from the Central Bank of Ireland , is ideally positioned as a pioneering issuer within these regulatory confines. Under the new MiCA rules, which took effect on 1 July 2024, the issuance of Euro-pegged stablecoins like EURT is permitted exclusively to credit institutions or EMIs within the EU.

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Stablecoins FinTech Caps Audit 98

PYMNTS

NOVEMBER 17, 2020

In other news, a previous Bank of Japan official said Japan will probably need many years to release a cryptocurrency because of different challenges, such as steps needed to stop large private bank deposit outflows from occurring, Reuters reported.

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Debit Card Bitcoin Digital Currency NOV 63

PYMNTS

FEBRUARY 27, 2020

A surge cap in Chinese stocks, fueled by the stimulus package from the government to combat the virus-riddled economy, has brought about fears of a repeat of the 2015 market crash, according to Reuters on Wednesday (Feb. China has been working hard to inject funds into the economy, which has seen itself crippled as the coronavirus descended.

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Caps CHIPS Economy Central Bank 58

PYMNTS

NOVEMBER 11, 2020

The combined losses of the five tech heavyweights since their Monday’s close has contributed to more than $280 billion being wiped off in terms of market cap at the close of the trading day in Hong Kong,” according to CNBC’s calculations. 2), China’s central bank and regulators outlined new rules for digital micro-lending.

NOV 83

NOV Regulations Rules Caps 83

The Fintech Times

DECEMBER 19, 2023

Ireland In Ireland, BNPL providers initially operated outside the supervisory purview of the Central Bank due to the interpretation that interest-free deferred payment structures fell outside the definition of “credit” as set out in the Central Bank Act 1997 ( CB Act ).

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BNPL Regulations Finance Consumer Protection 113

PYMNTS

JULY 20, 2017

The report noted that as of Wednesday (July 19) there is a $10-billion difference between the market caps of bitcoin and Ethereum, and if the prices for Ether continue to increase Ether will be a real challenger to bitcoin once again. At its peak the market cap of Ethereum was $35 billion and was $3 billion away from surpassing bitcoin.

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Visa Bitcoin Caps Cryptocurrency 59

PYMNTS

MARCH 11, 2019

trillion) in the second half of last year, according to European Central Bank data. The former Latvian government set a cap on foreign deposits after the collapse of ABLV, at 5 percent. Foreign deposits in the 19-country bloc went down 12 percent (150 billion euros) to 1.1 trillion euros ($1.2

Money Laundering 59

Money Laundering AML Non-Bank Caps 59

PYMNTS

JANUARY 9, 2018

The alternative crypto inspired by a dog meme now has a $2 billion market cap, as noted by Business Insider and other sources. As reported yesterday, Israel’s central bank said that it would not view cryptocurrencies — bitcoin et al — as currency. based in Hong Kong – whose shares were up 900 percent last year.

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Bitcoin Caps Central Bank Cryptocurrency 49

PYMNTS

SEPTEMBER 6, 2018

By way of illustration, the company gave a scenario: “Two financial institutions transacting together agree to use a stable coin, central bank digital currency or other digital assets as the bridge asset between any two fiat currencies. The digital asset facilitates the trade, and supplies important settlement instructions.

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SWIFT Payment Initiation Caps Cross-Border Payments 40

PYMNTS

MARCH 6, 2020

The country’s biggest lender, The State Bank of India , will head a consortium to pump new capital into Yes Bank, which had been struggling to offset a surge in bad loans, Bloomberg reported, citing sources familiar with the matter. . There is no need to panic,” the central bank said in a statement.

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Caps ATM Central Bank SWIFT 67

PYMNTS

FEBRUARY 24, 2017

The bitcoin market cap was over $18.5 The big news as of late has come out of the Philippines after the central bank, Bangko Sentral ng Pilipinas (BSP), announced it would actively regulate the bitcoin industry as a means to combat money laundering and terrorist financing schemes. On Thursday (Feb.

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Bitcoin Money Laundering ATM Cryptocurrency 77

PYMNTS

JANUARY 21, 2021

billion market cap. payments group, will file its expected IPO with joint coordinators Morgan Stanley and Goldman Sachs, two of the largest American banks. The Chinese online commerce services upstart WeTrade Group is aiming to raise approximately $121 million in its transfer from the OTC board to Nasdaq per an S-1 filed with U.S.

Central Bank 59

Central Bank Stablecoins Caps Payments 59

PYMNTS

OCTOBER 24, 2019

The Kenyan National Assembly is considering a law that would make mobile lenders in the country subject to central bank oversight, which would force them to reveal transactions fees and interest rates before they dole out loans. According to the nation’s central bank, “customers will be scored and advised of their credit limit.

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Regulations Central Bank Small Business Laws 40

PYMNTS

MARCH 13, 2020

On March 6 , the Reserve Bank of India (RBI) said it had “no alternative” but to rescue the bank and replace its entire board. Yes Bank had been struggling to offload a number of bad loans. The RBI capped the withdrawal limit at Rs 50,000 ($676) for about a month, which caused people to rush to Yes Bank’s ATMs and withdraw cash.

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Caps ATM Central Bank SWIFT 60

The Fintech Times

MARCH 13, 2025

Launched at the end of December on global exchanges, Ripples ownhas already surpassed $130million in market cap.

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Cross-Border Cross-Border Payments Settlement Stablecoins 69

PYMNTS

MAY 29, 2020

The nod to speculation caps a period where bitcoin , as volatile as ever, recently traded at roughly $9,300, off a recent low of around $8,700. It may be telling that the banking giant will not provide services for bitcoin transactions, which will be the purview of the exchanges.

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Bitcoin Wire Transfer ACH Network Money Laundering 74

PYMNTS

JUNE 13, 2018

The capital buffer also applies to foreign banks lending in the country. The initiative follows a recommendation by France’s central bank. The French Banking Federation (FBF) denounced the measure. That cap applies to about 10 businesses. percent of lenders’ risk-weighted assets.

Caps 40

Caps Central Bank Non-Bank Reporting Requirements 40

PYMNTS

MARCH 12, 2020

Cointelegraph reported Thursday that just in the last day as much as 25 percent of the cryptocurrency market’s total market cap disappeared as traders fled the space. Proponents of crypto have said that they exist as an alternative to fiat money, as an alternative to central bank policy, and against traditional stores of value.

Bitcoin 52

Bitcoin Central Bank Cryptocurrency Caps 52

PYMNTS

JANUARY 10, 2017

Last week, China’s central bank, the People’s Bank of China (PBOC), had advised investors to be cautious when investing in digital currency. The central bank’s comments come as Beijing escalates a campaign to check capital outflows, said Reuters , and to slow the depreciation of the yuan.

Bitcoin 41

Bitcoin Digital Currency Central Bank Caps 41

PYMNTS

DECEMBER 22, 2020

The European Central Bank, meanwhile, has said governments should take a neutral approach to how payments are made and complained it wasn’t consulted on the cashback program.

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Credit Cards Payments Government Governance 75

PYMNTS

OCTOBER 1, 2019

The Reserve Bank of India is trying to reassure savers that all is well after a recent crisis involving Punjab and Maharashtra Co-operative Bank (PMC). 1), India’s central bank addressed “rumours in some locations about certain banks, including co-operative banks, resulting in anxiety to depositors.”.

Caps 51

Caps Central Bank Addressing Continuity 51

PYMNTS

AUGUST 23, 2018

But, Kenya’s central bank has sounded a note of caution. In a report from the bank, blockchain may hold risk if it is misused. There is thus the need to ensure that robust controls are in place to ensure that the risks and opportunities associated with emerging technologies are balanced,” wrote the bank.

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Distributed Ledger Technology (DLT) Blockchain Central Bank Caps 40

PYMNTS

FEBRUARY 6, 2020

Australia’s Central Bank Calls For Switch From Visa, Mastercard To Cheaper EFTPOS. The Reserve Bank of Australia is considering stopping banks from automatically routing “tap and go” card payments through Visa and Mastercard, a process which costs twice as much as using EFTPOS, a processing system run by local financial institutions.

Digital Currency 52

Digital Currency Fed Federal Reserve Cross-Border Payments 52

PYMNTS

FEBRUARY 14, 2020

We have deep dives into unattended retail, rapid settlements and cybersecurity, as well as news on Mastercard receiving the go-ahead from China’s central bank to set up a bank clearing business. China’s central bank gave Mastercard the green light on Feb. a share with a market cap of $14.6 Sound familiar?

Settlement 56

Settlement Visa Online and Mobile Banking Small Business 56

PYMNTS

AUGUST 22, 2019

Capping off the effort last week, Ghana’s central bank announced it had revoked the licenses of 23 savings and loans companies as well as finance houses and appointed a receiver to manage their affairs. “It So far the government has paid at least 12 billion cedis ($2.2

Central Bank 46

Central Bank Returns Governance Government 46

Fintech Finance

APRIL 17, 2024

According to the Study on the payment attitudes of consumers in the euro area (SPACE) in 2022, released by the European Central Bank (ECB), contactless payments in Spain accounted for 67% of all card payments at POS, in terms of volume, in 2022. The cap on cash transactions is also pushing the use of card payments in the country.

Point-of-Sale (POS) 52

Point-of-Sale (POS) Push-to-Card Contactless Payments Payments 52

PYMNTS

MAY 12, 2017

The digital currency’s market cap stood at just under $30 billion with some 16.3 The total crypto-market cap has grown from $27.8 With the latest news, it appears that a conclusion, whatever the particulars may be, will be reached by next month’s report from China’s central bank. million in circulation.

Bitcoin 45

Bitcoin Caps Digital Currency Money Laundering 45

PYMNTS

JANUARY 20, 2017

Bitcoin’s current estimated market cap is over $14.5 12, the Central Bank of Nigeria (CBN) released a circular to banks and other financial institutions warning against the use of “virtual currencies.”. Sweden’s central bank could come to a decision on the e-krona in the next two years. The culprit?

Bitcoin 41

Bitcoin IRS Digital Currency Central Bank 41

Fintech News

JANUARY 21, 2025

Transforming Payments with CBDCs Singapores proactive exploration of Central Bank Digital Currencies (CBDCs) underscores its commitment to financial innovation and inclusion. Take for instance, the StraitsX Singapore Dollar (XSGD), which operates on blockchain networks and has a market cap exceeding USD $18 million.

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Stablecoins FinTech Embedded Finance Financial Inclusion 108

BitPay

APRIL 25, 2023

Stablecoins usually don’t draw the amount of media coverage as more volatile cryptocurrencies like Bitcoin or Ether, but stablecoins actually make up a sizable portion of the total cryptocurrency market cap. One reason stablecoins are so popular is because they offer the versatility of crypto with the price stability of fiat.

Stablecoins 52

Stablecoins Cross-Border Cross-Border Payments Payroll 52

PYMNTS

SEPTEMBER 17, 2019

billion market cap, overall, as determined by cryptoslate.com, and where Monero dominates with $1.3 billion of that market cap. The name of the game is decentralization, which has been a critical selling point for crypto proponents in general, as decentralization is touted as a way to circumvent the central banking system.

Bitcoin 51

Bitcoin Caps Cryptocurrency Privacy 51

PYMNTS

JANUARY 8, 2019

Publicly traded firms carrying heavy debt loads that find they have limited cash on hand to buffer against market cap drops, said Flum, will be forced to tap revolvers if available, or attempt to solicit funding from the high-yield bond market – just “as the costs for riskier borrowing are rising.” Tapping Credit … if Available.

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Caps Central Bank On-Demand Finance 49