Agustin Carstens: Banks Should Not Issue Digital Currencies

Should banks design their own cryptocurrencies? According to Agustin Carstens, general manager of the Bank for International Settlements, the answer is a definitive “no.” Crypto Isn’t Cool? Carstens has never been a fan of crypto, having likening bitcoin to a “bubble,” a “Ponzi scheme” and an “environmental disaster” in the past. At a speech in Dublin, Carstens explained his fear of cryptocurrencies further, saying that they undermine the global banking system. He is now warning banks of the dangers of creating their own digital currencies. Virtual coins, he claims, go against everything banks stand for. They decrease financial stability and

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Banks Greased with Dirty Money Are Terrified of Becoming Obsolete

Most cryptocurrency companies struggle to get a bank account. This is mainly due to inadequate anti-money laundering procedures and the banks’ fear of being fined. At least, that’s what these centralized institutions with coffers stuffed full of dirty money want you to believe. In reality, they’re out of their depth and scrambling to stay relevant. Banks Suppress Cryptocurrency Because They Fear It In June 2016, the British public lost its mind. Driven by an ageing population of right-wing voters clinging to the memory of the “Great” Britain of the colonial years–and voter abstention on behalf of the youth. Then, just

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Bitcoin Terrifies Banks: Hypocritical JP Morgan is Blacklisting Crypto Firms

The cryptocurrency revolution is here, and traditional banks are terrified. JP Morgan is the perfect example. First, the bank’s boss Jamie Dimon labelled bitcoin a “fraud” and promised to fire any employees caught trading crypto. Now, the bank is blacklisting cryptocurrency startups and refusing to open checking accounts.  Per a Bloomberg report, JP Morgan still refuses to bank cryptocurrency businesses. The Wall Street giant even shut down the account of Kraken – one of the world’s largest and most-secure cryptocurrency exchanges. Paypal locked up all the money I had for 6 months, almost lost my business/apartment. BofA killed @Krakenfx's payroll

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The bitcoin halvening is in 455 days. 1,800 new coins are mined everyday. That will be cut to 900 with an 1.8% inflation rate. Why does it matter? It marks the date when bitcoin becomes less inflationary than central banks annual rate target of 2%.

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Bitcoin – The Currency of the Internet

Is Euro in Big Trouble? After Deutsche Bank’s Failure, French Giant BNP Warns ‘Extreme Market Conditions’

With newly released data showing slower growth in the euro-zone, the struggle of Deutsche Bank, and BNP Paribas cutting $ 683 million in expenses, the euro may be in deep trouble. In the last quarter of 2018, a period in which even U.S. banks underperformed, the global markets division of BNP Paribas recorded a $ 256 million loss. BNP Paribas, the largest bank in France, ended 2018 with a staggering 40 percent loss in trading according to FT. Extreme Market Movements, Euro is Declining Since early January, against the U.S. dollar, the value of the euro fell from $ 1.23 to $ 1.14. A

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