News Commentary #1,655 – DollarBill | More Crypto News..?!

Just a few years ago we have asked ourselves and all of you – was a cryptocurrency creation and development point designed to be here for a long time or was this theme just a temporarily ponzi scheme trend..?

Few years goes by and here we are watching how different banks all over the world this or that way starting to integrate their workers and their financial schemes into this new world of blockchain. This is a nice thing to see because hyip world was one of the first spheres which was opened to this new big tech trend.

Today you will be able to see more news provided by DollarBill platform (reviewed here) right about this integration stuff. And the answer that we also asked you several years ago – now seems to be very clear 🙂

 

Central Bank of Portugal Grants Country’s First Crypto License to a Bank

Bison Bank, a Portugal-based financial institution, has received a license from the Portuguese central bank (Banco de Portugal) to operate as a virtual asset service provider (VASP), Banco de Portugal announced Thursday. Bison Bank will create a special business division, Bison Digital Assets, to operate as a virtual asset exchange, according to Portuguese media outlet Sapo. The division is the first entity in Portugal owned by a bank to be authorized by Banco de Portugal to offer custodian and crypto trading services.

Bison Bank provides wealth management, depositary and investment banking services to individuals and institutional clients, according to its website. It is owned by a Hong Kong-based Chinese private capital group. In March, Banco do Portugal granted the first full all-categories VASP license to Utrust, a Portugal-based on-chain crypto payments firm.

 

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Japan Looks to Sweden for CBDC Approach, Not China

The Bank of Japan will shape the implementation of its CBDC pilots after Sweden’s steady approach, not China’s large pilot programs. Officials also said that it would only make a decision on the issuance of a CBDC by 2026. Japan’s central bank, the Bank of Japan, has announced that it will model its central bank digital currency (CBDC) similar to Sweden’s, not China’s. The head of the bank’s payment system department Kazushige Kamiyama revealed the information in an interview.

The idea is to launch the CBDC in slow but steady steps instead of implementing large pilot programs right from the start. Kamiyama said that Sweden’s slow expansion of experiments is a better fit for Japan, adding that:
“The framework and design of the central bank digital currency needs to be decided as a part of an overall settlement system for the future.”

 

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Germany’s Commerzbank Applies for Local Crypto Licence

Germany’s Commerzbank (CBK) applied for a crypto licence earlier this year, a spokesperson for the bank told local media. This would make it the first major bank in Germany to move towards crypto adoption.

– Local media outlet Börsen-Zeitung said that a spokesperson from the bank confirmed on April 14 that it “applied for the crypto custody license in the first quarter of 2022.”
– The application is to get authorization to offer exchange services along with custody and protection of crypto-assets.
– Commerzbank is Germany’s second-largest listed bank and is partly owned by the government.
– Germany had brought in a new law, effective Jan. 1, 2020, that would encourage German Banks to offer crypto services. The law required any business seeking to offer crypto services in Germany to seek a licence from BaFin, Germany’s Federal Financial Supervisory Authority.
– BaFin has received 25 applications for approval as a crypto custodian

Check other news for today and Please stand by..

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