The Future of Banks Lies in DeFi, Says OCC Chief

Brian Brooks, the Comptroller of the United States Currency believes that decentralized finance (DeFi) could determine the future of banks.  According to him, DeFi will eventually redefine the banking system provided that adequate regulations are put in place. DeFi Could Change the Banking Sector Brian Brooks the current director of the Office of the Comptroller of the Currency (OCC) revealed his thoughts in an opinion piece published for the Financial Times.  According to Brooks, licenses from national banks could one…

Binance Customers Can Now Buy Bitcoin with GBP

The renowned cryptocurrency exchange Binance is now supporting Great Britain Pounds (GBP) trading pairs on its main exchange, just two days after announcing a UK-based trading platform. On June 19, Binance announced the availability of 5 new trading pairs. The pairs to go live at 10:00 am (UTC) on June 19 include BTC/GBP, ETH/GBP, XRP/GBP, BNB/GBP and GBP/BUSD. “Binance will open trading for BTC/GBP, ETH/GBP, XRP/GBP, BNB/GBP and GBP/BUSD trading pairs at 2020/06/19 10:00 AM (UTC). Please note: The GBP is a national currency and does…

Understanding the Role of FCA in the Regulation of Crypto-Assets

Financial Conduct Authority (FCA) is considered relatively new in the financial service sector. It has been less than a decade since the regulator took over from its predecessor Financial Services Authority (FSA) in 2013. Such a transition is bound to cause some confusion on the scope of the regulatory measures in place. The broad and complex world of crypto assets and its evolving market is critical in the confusion of what falls under FCA regulations. As a consumer, you need…