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US Federal Reserve Board Unveils Final Guidelines Used When Reviewing Requests for Access to Master Accounts – Finance Bitcoin News

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The U.S. Federal Reserve Board has mentioned it has launched the ultimate pointers that are set for use by Reserve Banks when “reviewing requests to entry Federal Reserve accounts and fee companies.” In line with the board, the ultimate pointers will turn into efficient as quickly as they’re revealed within the Federal Register.

New Pointers Geared toward Establishing a Clear and Constant Set of Components for Reserve Banks

The board of the U.S. Federal Reserve not too long ago introduced what it known as the “closing pointers which set up a clear, risk-based, and constant set of things for Reserve Banks to make use of in reviewing requests to entry Federal Reserve accounts.”

As per the financial institution’s assertion, the most recent pointers are virtually similar to those proposed in Could 2021 and the supplemental ones which had been proposed in March this yr. These new pointers will turn into efficient as soon as they’re revealed within the Federal Register.

US Federal Reserve Board Unveils Final Guidelines Used When Reviewing Requests for Access to Master Accounts
The Fed’s press launch revealed on August 15, 2022 explains that the grasp account guidelines will apply when they’re registered within the federal authorities’s official journal the Federal Register.

The transfer might pave the best way for fintech and crypto banks and particular function depository establishments (SPDIs). Kraken Financial institution utilized for a grasp account with the Federal Reserve Financial institution in October 2020. Within the Fed’s latest assertion, Lael Brainard, the vice chair of the united statesFederal Reserve, is quoted explaining why the rules are wanted.

“The brand new pointers present a constant and clear course of to guage requests for Federal Reserve accounts and entry to fee companies in an effort to assist a secure, inclusive, and modern fee system,” Brainard mentioned.

Rising Requests for Entry to Accounts

The rising requests for entry to accounts — aka grasp accounts — stem from the rising variety of establishments providing “new varieties of monetary merchandise” or these with novel charters. In line with the U.S. Federal Reserve, the brand new pointers stipulate that establishments with federal deposit insurance coverage can be subjected “to a extra streamlined stage of evaluation.”

Then again, for establishments adjudged to be engaged in novel actions or these for which an “applicable supervisory and regulatory framework” is but to be formulated, a extra intensive evaluation could be required, the assertion mentioned.

In June, Custodia Financial institution (previously Avanti) sued the Federal Reserve Board of Governors over an alleged “illegal delay” of the corporate’s grasp account utility. Much like Kraken, Custodia additionally utilized for a Fed grasp account in October 2020, and it has been ready 21 months for a solution for the reason that submitting.

Tags on this story
Avanti, Crypto Banks, Custodia, Federal Register, Federal Reserve Board, Fintech, Kraken, kraken financial institution, Lael Brainard, Grasp Accounts, fee companies, fee system, regulatory framework, Reserve Financial institution, The US Federal Reserve

What are your ideas on this story? Tell us what you suppose within the feedback part beneath.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, writer and author. He has written extensively in regards to the financial troubles of some African international locations in addition to how digital currencies can present Africans with an escape route.







Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It isn’t a direct supply or solicitation of a suggestion to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, straight or not directly, for any harm or loss triggered or alleged to be brought on by or in reference to using or reliance on any content material, items or companies talked about on this article.





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Microstrategy Is Seeking a Full-Time Lightning Network Engineer to Build a SaaS Platform – Bitcoin News

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The cell software program, cloud-based providers, and enterprise intelligence (BI) agency Microstrategy is searching for a full-time Lightning Community software program engineer, based on a job itemizing revealed this week. The developer, if employed, will construct a Lightning Community-based software program as a service (SaaS) platform for the corporate so it may be used for ecommerce use instances and join with enterprises searching for fee options as effectively.

Microstrategy Appears to be like to Rent Lightning Community Software program Developer

After the corporate bought 301 bitcoin (BTC) to carry on its steadiness sheet, the BI agency Microstrategy revealed a job itemizing on the internet portal smartrecruiters.com. Microstrategy’s job supply is for full-time employment as a Bitcoin Lightning Software program Engineer and the chosen particular person can be in control of making a Lightning Community (LN) SaaS platform.

Microstrategy Is Seeking a Full-Time Lightning Network Engineer to Build a SaaS Platform
The job itemizing posted by Microstrategy this week on smartrecruiters.com.

“As a Bitcoin Lightning Software program Engineer at Microstrategy, you’ll construct a Lightning Community-based SaaS platform, offering enterprises with progressive options to cyber-security challenges and enabling new ecommerce use-cases,” Microstrategy govt Chen Wan explains.

The individual will need to have a Bachelor’s diploma in pc science or a associated subject and a “Grasp’s diploma or Ph.D. in pc science/engineering is a plus,” Wan’s job abstract particulars. Moreover, the candidate ought to have a “robust data of knowledge constructions, algorithms, working methods, distributed methods, and different elementary pc science ideas,” the job itemizing provides.

The Lightning Community is a second layer (L2) scaling answer for Bitcoin that was first launched in 2015. On the time of writing the LN capability is 4,905.29 BTC or $95.2 million in USD worth. There are 17,203 LN nodes proper now and 84,928 fee channels, based on statistics on September 30. The variety of LN Tor Nodes is roughly 12,305 and the proportion of LN Tor capability is 69.3%.

Microstrategy’s engineering job says that the chosen individual will construct software program options leveraging the Bitcoin (BTC) blockchain and Lightning Community, in addition to “different decentralized finance (defi) applied sciences.” Moreover, contributing to the Bitcoin Core codebase and different varieties of open supply cryptocurrency coding initiatives is “a plus.”

Tags on this story
130000 BTC, 301 BTC, Steadiness Sheet, Bitcoin, Bitcoin (BTC), Bitcoin Core, Codebase, pc science/engineering, DeFi, Defi Apps, Developer, Engineer, job itemizing, lightning community, Lightning Community (LN), Lightning Community-based SaaS platform, ln, LN nodes, microstrategy, Microstrategy Lightning Community, Microstrategy’s job supply, smartrecruiters.com, Software program

What do you concentrate on Microstrategy’s job supply? Tell us what you concentrate on this topic within the feedback part beneath.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist residing in Florida. Redman has been an lively member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com Information in regards to the disruptive protocols rising as we speak.




Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It’s not a direct supply or solicitation of a suggestion to purchase or promote, or a suggestion or endorsement of any merchandise, providers, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, immediately or not directly, for any injury or loss prompted or alleged to be attributable to or in reference to using or reliance on any content material, items or providers talked about on this article.





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Double Jump Tokyo Obtains Sega IP Rights For New Blockchain Game

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Blockchain sport developer Double Soar Tokyo has introduced that the corporate has obtained rights to a Sega IP to be used in a brand new sport.

Double Soar Tokyo Will get License To Sega’s Sangokushi Taisen For New Blockchain Recreation

As revealed by the developer in a blogpost, the brand new sport will concentrate on the theme of “Sangokushi” (Three Kingdoms).

This blockchain-based undertaking shall be a buying and selling card sport, and can function paintings from Sega’s “Sangokushi Taisen” IP.

Sega is among the most well-known names in gaming, with Sonic being the corporate’s most recognizable IP. The agency doesn’t simply develop and distribute console videogames, but in addition arcades, merch, and different merchandise.

Double Soar Tokyo is a Japanese startup that focuses on growing NFT options and blockchain video games. The corporate already has expertise working with large builders like Bandai Namco and Sq. Enix.

For this new undertaking, the developer will deal with the event of the sport, whereas Sega will solely present the license for Sangokushi Taisen.

The sport shall be constructed on the Oasys blockchain, a brand new structure designed for video games of this type by Double Soar Tokyo in collaboration with different industry-leading companies.

Hironobu Ueno, CEO and Founding father of the agency, commented, “with a novel structure optimized for blockchain video games, Oasys goals to unravel obstacles for avid gamers, providing quick transactions and nil fuel charges and offering customers with a extra comfy gameplay expertise.”

The Oasys blockchain makes use of the Proof-of-Stake (PoS) mechanism for reaching consensus, that means that the community is environmentally pleasant.

Video games making use of NFTs and common blockchain expertise have observed some super development in latest occasions as they’ve gained extra traction. Even in the course of the latest crypto industry-wide bear market, the sector has continued to carry out properly.

Although, there has additionally been some outrage over video games of this type from conventional avid gamers. Firstly of this yr, Sega stated that they could again off from blockchain video games if the gamers oppose the concept.

This new undertaking implies that the corporate intends to go forth with their plans, no less than for now. In the intervening time, there isn’t any confirmed launch date or platform for Double Soar Tokyo’s Sangokushi Taisen web3 sport.

BTC Worth

On the time of writing, Bitcoin’s value floats round $19.2k, up 4% within the final seven days. Over the previous month, the crypto has misplaced 4% in worth.

The under chart reveals the development within the value of the coin over the past 5 days.

Bitcoin Price Chart

The worth of the crypto appears to have been largely shifting sideways throughout the previous few days | Supply: BTCUSD on TradingView
Featured picture from Double Soar Tokyo, chart from TradingView.com



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XRP Rebounds on Friday, Nearing Recent Highs  – Market Updates Bitcoin News

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Xrp was up by almost 10% on Friday, because the token moved nearer to a current four-month excessive. The transfer comes as shopper sentiment knowledge in the USA got here in at 58.6, which is increased than August’s studying of 58.2. UNUS SED LEO was additionally within the inexperienced, climbing by as a lot as 12% in as we speak’s session.

XRP was up by over 10% in as we speak’s session, as costs moved nearer in the direction of a multi-month excessive.

Following a low of $0.4285 on Thursday, XRP/USD rallied to an intraday peak of $0.503 earlier within the day.

The transfer noticed the token previously referred to as ripple close to final week’s excessive of $0.558, which was the strongest level since Could.

XRP/USD – Day by day Chart

As could be seen from the chart, earlier positive aspects have considerably eased, because the relative power index (RSI) collided with a ceiling.

The index is at the moment monitoring at 63.81, which is marginally decrease than the aforementioned resistance level of 65.00.

Ought to XRP bulls try and recapture final week’s excessive, then a breakout of the RSI ceiling might want to happen.

UNUS SED LEO (LEO)

One other notable mover in as we speak’s session was UNUS SED LEO (LEO), which buying and selling by as a lot as 12% increased.

LEO/USD raced to an intraday peak of $4.69 on Friday, which comes lower than a day after hitting a low of $4.18.

As we speak’s rally comes as LEO bounces from a key assist level of $4.05. The token is now shifting near a ceiling of $4.80.

LEO/USD – Day by day Chart

Along with bouncing off the worth flooring, one more reason for the rally was the 14-day RSI breaking out of a ceiling of its personal.

The index moved previous its resistance of 48.90, and as of writing, is monitoring at a mark of fifty.96.

Ought to we see LEO collide with the $4.80 level, then it’s seemingly that merchants will transfer to safe positive aspects, resulting in a decline in costs.

Register your e-mail right here to get weekly worth evaluation updates despatched to your inbox:

Do you count on UNUS SED LEO to climb and hit $4.80 this weekend? Tell us your ideas within the feedback.

Eliman Dambell

Eliman brings an eclectic viewpoint to market evaluation, he was beforehand a brokerage director and retail buying and selling educator. Presently, he acts as a commentator throughout varied asset courses, together with Crypto, Shares and FX.




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Disclaimer: This text is for informational functions solely. It isn’t a direct supply or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, providers, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, instantly or not directly, for any harm or loss triggered or alleged to be brought on by or in reference to using or reliance on any content material, items or providers talked about on this article.





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