Topic: The American Bankers Association (ABA) with cryptocurrency companies. (Read 153 times)
August 05, 2021, 02:45:48 PM
most of the demands fit the features of Defi. I hope defi succeeds beyond the bull market, so as to serve a larger community of USA citizen. Then it can grow to the ends of the world. Other advantages of Defi as online provision could be faster and have a wider range of service. Regulations might just be difficult for new cryptocurrency projects that have things to hide or protect.
August 05, 2021, 02:18:12 PM
American banks should open up space for crypto, because then there is no need to be afraid of crypto ownership which is often made into a scary thing. America needs to take this push seriously and get started. It was great when the American Bankers Association started making such a long-standing claim.
August 05, 2021, 04:16:14 PM
This is really a great news for cryptocurrencies. After rejection of Amazon and Tesla this is really a powerful news. They know the public demand and future. The future is cryptocurrencies. uSA is doing great and protect their future from now. I think this positive news will affect the bear market turn to bull market .
August 05, 2021, 02:03:57 PM
It's great to hear that at least one banking association has spoken positively about cryptocurrency. Because in most of the other countries, banking lobby is constantly pushing the government to impose a blanket ban on cryptos. In my monthly newsletter I received from my bank, inevitably mentions about the high risk of cryptocurrency and 10 reason why should everyone avoid it.
So it's really great to know at least smart bankers are thinking out-of-the-box and talking about the benefits of crypto adoption.
So it's really great to know at least smart bankers are thinking out-of-the-box and talking about the benefits of crypto adoption.
My bank is pro-cryptocurrencies, and have received at least one newsletter regarding bitcoin and the future of cryptocurrencies. I just hope they don't change their stance once they see that it could literally phase out their business model, although I have reason to believe that they will just introduce another crypto service integrated on top of their current banking services, and it shouldn't hurt what they're currently offering right now.
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ABA has their eyes set on the positives of crypto while the rest of the banks in the industry are persecuting crypto as if they're a spawn of the devil. If a banking association sees good in crypto, it means that there really is worth noting on the new tech that can be utilized by a lot of people, even if that in itself contradicts their business model.
August 05, 2021, 01:21:42 PM
The American Bankers Association (ABA) encourages US banks to partner with cryptocurrency companies.
This is an interesting... turn of events. I don't know if I should be happy (since this is bullish) or wary (because banks are.. banks). Probably both.
I'm curious what will FED say and the banks (central and commercial) over the world, since I expect a huge majority just follow whatever US banks do.
August 05, 2021, 01:20:56 PM
It's not surprising from developed countries. Because they realize the potential value of cryptocurrency. Definitely, this is positive initiative from a bank association like the US. Sadly a few developing countries still can't realize the potentiality of Bitcoin. A few days back my central bank published a notice where they stated clearly any cryptocurrency trading is illegal. Actually, they should learn from developed countries, but instead, they wondering to ban strongly.
August 05, 2021, 01:16:31 PM
It's great to hear that at least one banking association has spoken positively about cryptocurrency. Because in most of the other countries, banking lobby is constantly pushing the government to impose a blanket ban on cryptos. In my monthly newsletter I received from my bank, inevitably mentions about the high risk of cryptocurrency and 10 reason why should everyone avoid it.
So it's really great to know at least smart bankers are thinking out-of-the-box and talking about the benefits of crypto adoption.
Probably they're up to something again, I can't trust bankers, I know that behind this support, there's a possibility that it's going to be a big interest that they have. I wouldn't really see it as a good news for now unless they're really sincere with the support which is unlikely thing to happen. So it's really great to know at least smart bankers are thinking out-of-the-box and talking about the benefits of crypto adoption.
August 05, 2021, 01:13:12 PM
It's great to hear that at least one banking association has spoken positively about cryptocurrency. Because in most of the other countries, banking lobby is constantly pushing the government to impose a blanket ban on cryptos. In my monthly newsletter I received from my bank, inevitably mentions about the high risk of cryptocurrency and 10 reason why should everyone avoid it.
So it's really great to know at least smart bankers are thinking out-of-the-box and talking about the benefits of crypto adoption.
So it's really great to know at least smart bankers are thinking out-of-the-box and talking about the benefits of crypto adoption.
August 04, 2021, 10:35:11 PM
The American Bankers Association (ABA) encourages US banks to partner with cryptocurrency companies.
The 20-page report provides detailed analysis of cryptocurrencies, including glossary,cryptocurrencies activities with banking products and services.
The ABA also suggests crypto use cases for banks with revenue models and regulatory issues for each use case.
1. Store of Value - Buy/Sell Service
2. Custody / Wallet Provider
3.Interest Bearing Accounts
4. Lending
5. Payment
6.Exchange Trading
7.Broker-dealer
8.Network utility
9.Insurance
10.Asset Management
source: forbes
Understanding Cryptocurrency by ABA: https://www.aba.com/news-research/research-analysis/understanding-cryptocurrency
The 20-page report provides detailed analysis of cryptocurrencies, including glossary,cryptocurrencies activities with banking products and services.
The ABA also suggests crypto use cases for banks with revenue models and regulatory issues for each use case.
1. Store of Value - Buy/Sell Service
2. Custody / Wallet Provider
3.Interest Bearing Accounts
4. Lending
5. Payment
6.Exchange Trading
7.Broker-dealer
8.Network utility
9.Insurance
10.Asset Management
source: forbes
Understanding Cryptocurrency by ABA: https://www.aba.com/news-research/research-analysis/understanding-cryptocurrency
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