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One of the New-York based bank\u2019s clients was FTX, which had an estimated 0.1% of its total deposits. Despite the relatively low amount, the collapse of the exchange<\/a> caused a drop in Signature\u2019s stock by about 20% in November. Besides the volatility concerns, Signature could be taking a step into compliance with the regulators. <\/p>\n\n\n\n

On January 5, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a collective statement<\/a> concerning digital assets, saying, among other things, that the issuance or holding of digital assets is not in compliance with sound banking practices.<\/p>\n","post_title":"Binance's Major Banking Partner Locks Out SWIFT Customers Transacting Less Than $100k","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binances-major-banking-partner-locks-out-swift-customers-transacting-less-than-100k","to_ping":"","pinged":"","post_modified":"2023-01-23 21:25:29","post_modified_gmt":"2023-01-23 10:25:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9582","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 8 9 10 11 12 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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\n

Last month, Signature Bank, considered one of the most crypto-friendly banks, announced that it was reducing part of its deposits related to cryptocurrencies by up to $10 billion. Per the financial reports, its total crypto deposits as of September were at 23.5% of a total of $103 billion.<\/p>\n\n\n\n

One of the New-York based bank\u2019s clients was FTX, which had an estimated 0.1% of its total deposits. Despite the relatively low amount, the collapse of the exchange<\/a> caused a drop in Signature\u2019s stock by about 20% in November. Besides the volatility concerns, Signature could be taking a step into compliance with the regulators. <\/p>\n\n\n\n

On January 5, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a collective statement<\/a> concerning digital assets, saying, among other things, that the issuance or holding of digital assets is not in compliance with sound banking practices.<\/p>\n","post_title":"Binance's Major Banking Partner Locks Out SWIFT Customers Transacting Less Than $100k","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binances-major-banking-partner-locks-out-swift-customers-transacting-less-than-100k","to_ping":"","pinged":"","post_modified":"2023-01-23 21:25:29","post_modified_gmt":"2023-01-23 10:25:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9582","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 8 9 10 11 12 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

Once Considered a Crypto-Friendly Bank, Signature Is Changing Stance<\/h2>\n\n\n\n

Last month, Signature Bank, considered one of the most crypto-friendly banks, announced that it was reducing part of its deposits related to cryptocurrencies by up to $10 billion. Per the financial reports, its total crypto deposits as of September were at 23.5% of a total of $103 billion.<\/p>\n\n\n\n

One of the New-York based bank\u2019s clients was FTX, which had an estimated 0.1% of its total deposits. Despite the relatively low amount, the collapse of the exchange<\/a> caused a drop in Signature\u2019s stock by about 20% in November. Besides the volatility concerns, Signature could be taking a step into compliance with the regulators. <\/p>\n\n\n\n

On January 5, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a collective statement<\/a> concerning digital assets, saying, among other things, that the issuance or holding of digital assets is not in compliance with sound banking practices.<\/p>\n","post_title":"Binance's Major Banking Partner Locks Out SWIFT Customers Transacting Less Than $100k","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binances-major-banking-partner-locks-out-swift-customers-transacting-less-than-100k","to_ping":"","pinged":"","post_modified":"2023-01-23 21:25:29","post_modified_gmt":"2023-01-23 10:25:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9582","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 8 9 10 11 12 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

About 0.01% of Binance\u2019s average monthly users are using Signature bank, according to the company, which added that it is actively seeking an alternative solution. Binance further advised its customers to use their accounts to buy and sell digital assets with credit and debit cards or any supported fiat currency option.<\/p>\n\n\n\n

Once Considered a Crypto-Friendly Bank, Signature Is Changing Stance<\/h2>\n\n\n\n

Last month, Signature Bank, considered one of the most crypto-friendly banks, announced that it was reducing part of its deposits related to cryptocurrencies by up to $10 billion. Per the financial reports, its total crypto deposits as of September were at 23.5% of a total of $103 billion.<\/p>\n\n\n\n

One of the New-York based bank\u2019s clients was FTX, which had an estimated 0.1% of its total deposits. Despite the relatively low amount, the collapse of the exchange<\/a> caused a drop in Signature\u2019s stock by about 20% in November. Besides the volatility concerns, Signature could be taking a step into compliance with the regulators. <\/p>\n\n\n\n

On January 5, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a collective statement<\/a> concerning digital assets, saying, among other things, that the issuance or holding of digital assets is not in compliance with sound banking practices.<\/p>\n","post_title":"Binance's Major Banking Partner Locks Out SWIFT Customers Transacting Less Than $100k","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binances-major-banking-partner-locks-out-swift-customers-transacting-less-than-100k","to_ping":"","pinged":"","post_modified":"2023-01-23 21:25:29","post_modified_gmt":"2023-01-23 10:25:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9582","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 8 9 10 11 12 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

See Related: <\/em><\/strong>Will Russian Banks Blocked From SWIFT Turn To Crypto?<\/a><\/p>\n\n\n\n

About 0.01% of Binance\u2019s average monthly users are using Signature bank, according to the company, which added that it is actively seeking an alternative solution. Binance further advised its customers to use their accounts to buy and sell digital assets with credit and debit cards or any supported fiat currency option.<\/p>\n\n\n\n

Once Considered a Crypto-Friendly Bank, Signature Is Changing Stance<\/h2>\n\n\n\n

Last month, Signature Bank, considered one of the most crypto-friendly banks, announced that it was reducing part of its deposits related to cryptocurrencies by up to $10 billion. Per the financial reports, its total crypto deposits as of September were at 23.5% of a total of $103 billion.<\/p>\n\n\n\n

One of the New-York based bank\u2019s clients was FTX, which had an estimated 0.1% of its total deposits. Despite the relatively low amount, the collapse of the exchange<\/a> caused a drop in Signature\u2019s stock by about 20% in November. Besides the volatility concerns, Signature could be taking a step into compliance with the regulators. <\/p>\n\n\n\n

On January 5, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a collective statement<\/a> concerning digital assets, saying, among other things, that the issuance or holding of digital assets is not in compliance with sound banking practices.<\/p>\n","post_title":"Binance's Major Banking Partner Locks Out SWIFT Customers Transacting Less Than $100k","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binances-major-banking-partner-locks-out-swift-customers-transacting-less-than-100k","to_ping":"","pinged":"","post_modified":"2023-01-23 21:25:29","post_modified_gmt":"2023-01-23 10:25:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9582","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 8 9 10 11 12 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

In a statement shared with Bloomberg, Binance said that: \u2018\u2018One of (its) fiat banking partners, Signature Bank, has advised that it will no longer support any of its crypto exchange customers with buying and selling amounts of less than 100,000 USD as of February 1, 2023. As a result, some individual users may not be able to use SWIFT bank transfers to buy or sell crypto with (or) for USD for amounts less than 100,000.<\/em>\u2019\u2019 SWIFT is a financial messaging network for global payment systems.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Will Russian Banks Blocked From SWIFT Turn To Crypto?<\/a><\/p>\n\n\n\n

About 0.01% of Binance\u2019s average monthly users are using Signature bank, according to the company, which added that it is actively seeking an alternative solution. Binance further advised its customers to use their accounts to buy and sell digital assets with credit and debit cards or any supported fiat currency option.<\/p>\n\n\n\n

Once Considered a Crypto-Friendly Bank, Signature Is Changing Stance<\/h2>\n\n\n\n

Last month, Signature Bank, considered one of the most crypto-friendly banks, announced that it was reducing part of its deposits related to cryptocurrencies by up to $10 billion. Per the financial reports, its total crypto deposits as of September were at 23.5% of a total of $103 billion.<\/p>\n\n\n\n

One of the New-York based bank\u2019s clients was FTX, which had an estimated 0.1% of its total deposits. Despite the relatively low amount, the collapse of the exchange<\/a> caused a drop in Signature\u2019s stock by about 20% in November. Besides the volatility concerns, Signature could be taking a step into compliance with the regulators. <\/p>\n\n\n\n

On January 5, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a collective statement<\/a> concerning digital assets, saying, among other things, that the issuance or holding of digital assets is not in compliance with sound banking practices.<\/p>\n","post_title":"Binance's Major Banking Partner Locks Out SWIFT Customers Transacting Less Than $100k","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binances-major-banking-partner-locks-out-swift-customers-transacting-less-than-100k","to_ping":"","pinged":"","post_modified":"2023-01-23 21:25:29","post_modified_gmt":"2023-01-23 10:25:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9582","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 8 9 10 11 12 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Industry-leading cryptocurrency Binance recently disclosed that one of its major banking partners is reducing involvement in the digital asset sector; other traditional financial players also took a move in light of the recent market volatility.<\/p>\n\n\n\n

In a statement shared with Bloomberg, Binance said that: \u2018\u2018One of (its) fiat banking partners, Signature Bank, has advised that it will no longer support any of its crypto exchange customers with buying and selling amounts of less than 100,000 USD as of February 1, 2023. As a result, some individual users may not be able to use SWIFT bank transfers to buy or sell crypto with (or) for USD for amounts less than 100,000.<\/em>\u2019\u2019 SWIFT is a financial messaging network for global payment systems.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Will Russian Banks Blocked From SWIFT Turn To Crypto?<\/a><\/p>\n\n\n\n

About 0.01% of Binance\u2019s average monthly users are using Signature bank, according to the company, which added that it is actively seeking an alternative solution. Binance further advised its customers to use their accounts to buy and sell digital assets with credit and debit cards or any supported fiat currency option.<\/p>\n\n\n\n

Once Considered a Crypto-Friendly Bank, Signature Is Changing Stance<\/h2>\n\n\n\n

Last month, Signature Bank, considered one of the most crypto-friendly banks, announced that it was reducing part of its deposits related to cryptocurrencies by up to $10 billion. Per the financial reports, its total crypto deposits as of September were at 23.5% of a total of $103 billion.<\/p>\n\n\n\n

One of the New-York based bank\u2019s clients was FTX, which had an estimated 0.1% of its total deposits. Despite the relatively low amount, the collapse of the exchange<\/a> caused a drop in Signature\u2019s stock by about 20% in November. Besides the volatility concerns, Signature could be taking a step into compliance with the regulators. <\/p>\n\n\n\n

On January 5, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a collective statement<\/a> concerning digital assets, saying, among other things, that the issuance or holding of digital assets is not in compliance with sound banking practices.<\/p>\n","post_title":"Binance's Major Banking Partner Locks Out SWIFT Customers Transacting Less Than $100k","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binances-major-banking-partner-locks-out-swift-customers-transacting-less-than-100k","to_ping":"","pinged":"","post_modified":"2023-01-23 21:25:29","post_modified_gmt":"2023-01-23 10:25:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9582","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 … 8 9 10 11 12 … 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n
  • Arguably, this is a defensive action of OSL while waiting for the market to show signs of recovery and support packages from development projects into Hong Kong's cryptocurrency hub<\/a>.<\/li>\n<\/ul>\n","post_title":"OSL Exchange President Resigns Before Lunar New Year","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"osl-exchange-president-resigns-before-lunar-new-year","to_ping":"","pinged":"","post_modified":"2023-01-26 08:37:48","post_modified_gmt":"2023-01-25 21:37:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9571","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9582,"post_author":"13","post_date":"2023-01-23 18:39:13","post_date_gmt":"2023-01-23 07:39:13","post_content":"\n

    Industry-leading cryptocurrency Binance recently disclosed that one of its major banking partners is reducing involvement in the digital asset sector; other traditional financial players also took a move in light of the recent market volatility.<\/p>\n\n\n\n

    In a statement shared with Bloomberg, Binance said that: \u2018\u2018One of (its) fiat banking partners, Signature Bank, has advised that it will no longer support any of its crypto exchange customers with buying and selling amounts of less than 100,000 USD as of February 1, 2023. As a result, some individual users may not be able to use SWIFT bank transfers to buy or sell crypto with (or) for USD for amounts less than 100,000.<\/em>\u2019\u2019 SWIFT is a financial messaging network for global payment systems.<\/p>\n\n\n\n

    See Related: <\/em><\/strong>Will Russian Banks Blocked From SWIFT Turn To Crypto?<\/a><\/p>\n\n\n\n

    About 0.01% of Binance\u2019s average monthly users are using Signature bank, according to the company, which added that it is actively seeking an alternative solution. Binance further advised its customers to use their accounts to buy and sell digital assets with credit and debit cards or any supported fiat currency option.<\/p>\n\n\n\n

    Once Considered a Crypto-Friendly Bank, Signature Is Changing Stance<\/h2>\n\n\n\n

    Last month, Signature Bank, considered one of the most crypto-friendly banks, announced that it was reducing part of its deposits related to cryptocurrencies by up to $10 billion. Per the financial reports, its total crypto deposits as of September were at 23.5% of a total of $103 billion.<\/p>\n\n\n\n

    One of the New-York based bank\u2019s clients was FTX, which had an estimated 0.1% of its total deposits. Despite the relatively low amount, the collapse of the exchange<\/a> caused a drop in Signature\u2019s stock by about 20% in November. Besides the volatility concerns, Signature could be taking a step into compliance with the regulators. <\/p>\n\n\n\n

    On January 5, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a collective statement<\/a> concerning digital assets, saying, among other things, that the issuance or holding of digital assets is not in compliance with sound banking practices.<\/p>\n","post_title":"Binance's Major Banking Partner Locks Out SWIFT Customers Transacting Less Than $100k","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binances-major-banking-partner-locks-out-swift-customers-transacting-less-than-100k","to_ping":"","pinged":"","post_modified":"2023-01-23 21:25:29","post_modified_gmt":"2023-01-23 10:25:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9582","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

    1 … 8 9 10 11 12 … 20

    Most Read

    Subscribe To Our Newsletter

    By subscribing, you agree with our privacy and terms.

    Follow The Distributed

    Twitter Instagram Youtube LinkedIn Facebook RSS
    ADVERTISEMENT
    \n
  • OSL investor representative, Mr. Luc Hang said, \"This change in personnel structure is very true to Asian culture, and is also a chance to compete with big exchanges like Binance or Huobi which are currently expanding in Asia as it is now. Moreover, this action will ensure the confidence of Hong Kong investors using this exchange.\"<\/em>
    <\/li>\n\n\n\n
  • Arguably, this is a defensive action of OSL while waiting for the market to show signs of recovery and support packages from development projects into Hong Kong's cryptocurrency hub<\/a>.<\/li>\n<\/ul>\n","post_title":"OSL Exchange President Resigns Before Lunar New Year","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"osl-exchange-president-resigns-before-lunar-new-year","to_ping":"","pinged":"","post_modified":"2023-01-26 08:37:48","post_modified_gmt":"2023-01-25 21:37:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9571","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":9582,"post_author":"13","post_date":"2023-01-23 18:39:13","post_date_gmt":"2023-01-23 07:39:13","post_content":"\n

    Industry-leading cryptocurrency Binance recently disclosed that one of its major banking partners is reducing involvement in the digital asset sector; other traditional financial players also took a move in light of the recent market volatility.<\/p>\n\n\n\n

    In a statement shared with Bloomberg, Binance said that: \u2018\u2018One of (its) fiat banking partners, Signature Bank, has advised that it will no longer support any of its crypto exchange customers with buying and selling amounts of less than 100,000 USD as of February 1, 2023. As a result, some individual users may not be able to use SWIFT bank transfers to buy or sell crypto with (or) for USD for amounts less than 100,000.<\/em>\u2019\u2019 SWIFT is a financial messaging network for global payment systems.<\/p>\n\n\n\n

    See Related: <\/em><\/strong>Will Russian Banks Blocked From SWIFT Turn To Crypto?<\/a><\/p>\n\n\n\n

    About 0.01% of Binance\u2019s average monthly users are using Signature bank, according to the company, which added that it is actively seeking an alternative solution. Binance further advised its customers to use their accounts to buy and sell digital assets with credit and debit cards or any supported fiat currency option.<\/p>\n\n\n\n

    Once Considered a Crypto-Friendly Bank, Signature Is Changing Stance<\/h2>\n\n\n\n

    Last month, Signature Bank, considered one of the most crypto-friendly banks, announced that it was reducing part of its deposits related to cryptocurrencies by up to $10 billion. Per the financial reports, its total crypto deposits as of September were at 23.5% of a total of $103 billion.<\/p>\n\n\n\n

    One of the New-York based bank\u2019s clients was FTX, which had an estimated 0.1% of its total deposits. Despite the relatively low amount, the collapse of the exchange<\/a> caused a drop in Signature\u2019s stock by about 20% in November. Besides the volatility concerns, Signature could be taking a step into compliance with the regulators. <\/p>\n\n\n\n

    On January 5, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a collective statement<\/a> concerning digital assets, saying, among other things, that the issuance or holding of digital assets is not in compliance with sound banking practices.<\/p>\n","post_title":"Binance's Major Banking Partner Locks Out SWIFT Customers Transacting Less Than $100k","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"binances-major-banking-partner-locks-out-swift-customers-transacting-less-than-100k","to_ping":"","pinged":"","post_modified":"2023-01-23 21:25:29","post_modified_gmt":"2023-01-23 10:25:29","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9582","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

    1 … 8 9 10 11 12 … 20

    Most Read

    Subscribe To Our Newsletter

    By subscribing, you agree with our privacy and terms.

    Follow The Distributed

    Twitter Instagram Youtube LinkedIn Facebook RSS
    ADVERTISEMENT
    \n