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CRYPTO CORNER: Major US Bank Rolls Out Crypto-backed Loans

Greater cryptocurrency adoption seems to be coming every day. Now a large US bank, BankProv (formerly Provident Bank) is lending money to clients through a mechanism allowing the loan to be backed by the second most popular (behind Bitcoin) cryptocurrency, ETHEREUM.

This is a forward-thinking practice by that bank’s Board of Directors and top management. Neeeexxxxxt???

 

The post CRYPTO CORNER: Major US Bank Rolls Out Crypto-backed Loans appeared first on Populist Press 2021 ©.

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Crypto Exchange CEO Warns Crackdown on Cryptocurrencies May Be Coming

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Yuriko Nakao | Getty ImagesGovernments around the world may start to clamp down on the use of bitcoin and other cryptocurrencies, the CEO of a top crypto exchange has warned.A number of officials — from U.S. Treasury Secretary Janet Yellen to European Central Bank President Christine Lagarde — have sounded the alarm about the use of bitcoin for money laundering, terrorist financing and other illegal activities.“I think there could be some crackdown,” Jesse Powell, CEO of Kraken, told CNBC in an interview. Cryptocurrencies have surged in value lately, with bitcoin hitting a record high price of more than $61,000 last month. …

The post Crypto Exchange CEO Warns Crackdown on Cryptocurrencies May Be Coming appeared first on Populist Press 2021 ©.