India’s PMI Surge: A Robust End to the Fiscal Year
India’s Economic Surge: A Robust End to the Fiscal Year Quick Look India’s Composite PMI Hits an 8-Month High: The HSBC flash India Composite Purchasing Managers’ Index (PMI) soared to 61.3 in March, marking a significant expansion in business activity. Manufacturing Sector Leads
Hong Kong Central Bank Raises Red Flag on Deceptive Digital Currency Trial Entities
Hong Kong’s central bank cautioned the public Wednesday about schemes falsely claiming association with its e-HKD pilot projects. The warning comes as Hong Kong explores the potential of a central bank digital currency through various trial projects. The public appears to
Uzbekistan Increases Monthly Fees for Crypto Market Participants
Uzbekistan’s National Agency for Prospective Projects (NAPP) has announced a new directive to raise the monthly fees for those involved in the crypto market within the country. This directive was issued on Tuesday, March 19, 2024, in anticipation that the sector’s
Sweden’s Riksbank Releases Final Report on CBDC Project
Sweden’s Riksbank has released its final report on its central bank digital currency (CBDC), the e-Krona, which focused on offline payments. In the fourth phase, Sweden’s Riksbank, said the focus has been on testing and evaluating whether it is possible to
Kraken Unveils Crypto Custody Service for US Institutional Clients
Crypto exchange Kraken launched a crypto custody service in the US targeted at institutional clients on Wednesday. Kraken Financial, a state-chartered bank based in Wyoming, will provide the service. The service includes digital asset custody and institutional deposit accounts. The announcement comes
UK Woman Found Guilty of Laundering $2.5B in Bitcoin
A British woman has been found guilty and convicted on Wednesday for laundering over $2.5 billion (£2 billion) worth of bitcoin for a Chinese fugitive. Jian Wen, a 42 year old British citizen has been found guilty for money laundering on behalf
Bitcoin Spot ETFs See Net Outflow on Third Consecutive Day
Bitcoin spot exchange-traded funds (ETFs) in the United States have witnessed a three-day streak of net outflows, with a total of $261.5 million leaving the ten approved funds on March 20. This brings the cumulative net outflows over the three days
Local Coffee Chain in DC Teams Up with Coinbase to Accept Crypto Payments
A local coffee chain in Washington, D.C. has partnered with Coinbase to introduce crypto payments to its customers. Compass Coffee, a veteran-owned brand with sixteen stores in the D.C. area, will now offer patrons the option to pay for their morning brew using USDC,
Crypto Bank Meld to Launch Tokenized RWAs to Retail Investors
Crypto online banking company Meld, which received a VASP license in Lithuania, is set to launch tokenized real-world assets (RWA) for retail investors. The bank will launch borrowing and lending services against tokenized RWA in partnership with German-licensed DeFi platform Swarm
Crypto Lender Celsius Pursues $2B Pre-Bankruptcy Exodus
Bankrupt crypto lender Celsius has begun demanding customers who made major withdrawals in the three months preceding its bankruptcy to return their funds or face legal action. A committee-supervised administrator has sent letters to customers who withdrew more than $100,000 each