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Crypto currency banking issues

Crypto currency banking issues

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Raoul Pal: Cryptocurrencies Saving Economies from Monetary Meltdown? w/ Anthony Scaramucci
As a result, many financial institutions face challenges related to banking cryptocurrency service providers, the movement of proceeds from cryptocurrency. US regulators have issued their first ever joint warning to banks over the risks associated with the cryptocurrency market. The dizzying rise of bitcoin and other cryptocurrencies has created new challenges for governments and central banks. Increasing popularity and high levels.

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Banks may be wary of cryptocurrency, thinking that transactions involving these assets present heightened risk and require lengthy and expensive due diligence. Indeed, just as we see check cashing and payday lender storefronts concentrated in Black, Latino or Hispanic, and immigrant communities, we are soon likely to see bitcoin ATMs in Latino or Hispanic grocery stores, according to recent crypto industry announcements. Payments As indicated in the most recent OCC letter, banks can utilize public blockchains, including stablecoins, to speed up their payment processes.