Weekly Report (13 – 19 March 23) | What Happened This Week In Crypto

This Report will provide you with some essential and quick news about cryptocurrencies that happened around the world.

1) Belgian Foreign Minister Demands Crypto Ban

In a March 17 tweet, Johan Van Overtveldt, a former Belgium finance minister and current member of the European Parliament, called for a complete ban on cryptocurrencies in light of the recent crisis in the banking industry…[continue reading]

2) Fidelity Investing Has Made Bitcoin Trading Available To The Public

Consumers may purchase and sell bitcoin but cannot move it to a wallet where the user holds the private keys. Upon the debut of the waitlist, this feature was mentioned as a future addition, but no more information or plan has been offered…[continue reading]

3) US Legislator Accuses FDIC Of Using Financial Instability To Undermine Cryptocurrency

The failure of Signature Bank, Silicon Valley Bank, and Silvergate Bank has stunned many in the industry, but is the U.S. government attempting to “shut off digital assets”? Tom Emmer, the majority whip of the United States House of Representatives, has restated his fears that the federal government is “weaponizing” banking sector issues to target cryptocurrencies…[continue reading]

4) According To A Report, Money Laundering Was A Possible Cause Of Signature Bank’s Failure

A pair of investigations, one into whether or not the pro-crypto bank was doing anything to prevent money laundering, was apparently underway. Before its failure, cryptocurrency-friendly Signature Bank was under investigation by two US federal agencies…[continue reading]

5) Binance Will Soon Stop Using Its British Pound On- And Off-Ramp Provider

With the recent announcement that Binance’s existing service partner, Skrill Limited, will shortly discontinue providing services to the cryptocurrency exchange, the company has been searching for a replacement service partner to process British pound transactions on its trading platform…[continue reading]

6) US Federal Reserve Announces $25 Billion In Aid For Banks

The Federal Reserve introduced a financing program for banks to prevent more financial liquidity concerns, making $25 billion accessible to qualifying businesses. After multiple bank failures in the United States, the Federal Reserve Board has pledged $25 billion in liquidity to support banks and other depository institutions…[continue reading]

7) The Governor Of South Dakota Is Making Moves To Reject A CBDC Bill

The governor of South Dakota, Kristi Noem, rejected a measure that would have excluded digital assets from the legal definition of money, except digital currencies issued by central bank digital currencies (CBDCs)…[continue reading]