• Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News
    BlackRock CEO Predicts $500K Bitcoin Surge

    BlackRock CEO Predicts $500K Bitcoin Surge

    Metaplanet Launches US and Japan Subsidiaries Amid Market Volatility

    Metaplanet Launches New US, Japan Subsidiaries Amid Stock Volatility

    Bitcoin Options Market Eyes $125K Targets Post-FOMC

    Bitcoin Options Market Eyes $125K Targets Post-FOMC

    Bitcoin Bulls Eye $125K Amid Fed Rate Cut Speculations

    Bitcoin Bulls Eye $125K Amid Fed Rate Cut Speculations

    Next Technology's Major Bitcoin Acquisition Plans

    Next Technology Plans $500M Stock Sale to Buy Bitcoin

    Next Technology Plans $500M Stock Sale to Acquire Bitcoin

    Next Technology Plans $500M Stock Sale to Acquire Bitcoin

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar
    Bio Protocol Secures $6.9M Funding Led by Maelstrom Fund

    Bio Protocol Secures $6.9M Funding Led by Maelstrom Fund

    Cardano Founder Engages in Key Crypto Regulation Meeting

    Cardano Founder Engages in Key Crypto Regulation Meeting

    Wormhole Launches W Token Reserve and Revamps Tokenomics

    Wormhole Launches W Token Reserve and Revamps Tokenomics

    Shiba Inu Market Trends: Exchange Reserves and ETF Discussions

    Shiba Inu Exchange Reserves Drop Amid ETF Buzz

    Forward Industries' $4B Solana Investment Strategy Unveiled

    Forward Industries’ $4B Solana Investment Strategy Unveiled

    CleanCore's DOGE Treasury Surpasses $160M Boosting Market

    CleanCore’s DOGE Treasury Surpasses $160M Boosting Market

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    Benefits Of Choosing the Right AI Trading Bot

    4 Benefits Of Choosing the Right AI Trading Bot

    Crypto Trading

    A Beginner’s Guide to Crypto Trading: Unlocking the World of Digital Coins

    BitcoinGames.com

    BitcoinGames.com Introduces the Ultimate Casino Gaming Experience with Bitcoin

    How AI is Helping Athletes and Fans Get the Most out of the Game

    From Training to Judging, AI is Entering the Ring

    Top 5 Websites for Buying Gift Cards with Crypto

    Clutch Savours – Gift Certificates You Can Buy with Crypto

    Layer 2 Blockchains

    Everything You Need To Know About Layer 2 Blockchains

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

Crypto-Based Founders Bank Considers Itself a “Bank” Despite the Lack of License

Adriana M. by Adriana M.
August 3, 2018
in Finance & Blockchain, Latest News
money 1428594 960 720

Maltese cryptocurrency-based project Founders Bank continues to regard itself as a bank despite the fact that it has not yet received a license from local authorities.

The Times of Malta reported on Saturday that Founders Bank is still awaiting authorization from the country’s regulatory body. Despite this fact, the financial institution continues to promote itself as a decentralized crypto bank.

Founders Bank is a project supported by the world’s largest cryptocurrency exchange by traded volume- Binance. On 12 June, the institution has submitted an application to obtain permission to operate on the territory of the country as a bank. The business is describing itself as a decentralized bank given that it intends to operate for the crypto community.

It intends to release an ICO

Founders Bank plans to release an ICO and a native cryptocurrency. Anyone who will own the company’s crypto asset will benefit from a share in the future bank. The launch of the bank is scheduled for the first six months of 2019.

“Once licensed, Founders Bank will become the first stable and high tech banking solution not only focused on founders, but also owned by them, bridging the gap between traditional financial world and innovative crypto companies,” the project explained in a blog post last month.

It is reported that the Malta Financial Services Authority (MFSA) is unaware that Founders Bank is already considering itself a bank. A representative of the regulatory watchdog commented:

“What we are aware of are media articles mentioning their plans to set up a blockchain-based bank servicing technology and cryptocurrency businesses. Any applications for this type of bank will have to follow all the MFSA’s on-boarding procedure.”

Asked about the fact that Founders Bank is being promoted as a financial institution in the online environment, an official said the MFSA did not impose any restrictions regarding this.

In conformance with Malta’s Banking Act, “no person other than a credit institution with a current licence may use the word “bank” or any of its derivatives or other words as may indicate or purport to indicate the carrying on of the business of banking in any language in the description or title under which such person is carrying on business, or make any such use on any letter paper, in any notice or advertisement, or in any other similar manner”.

Tags: bank cryptoBinanceCryptocurrencydecentralizedFounders Bank
Previous Post

Zwoop to Help Websites Integrate Cryptocurrency Payments

Next Post

Robinhood App is Now Available in Georgia

Adriana M.

Adriana M.

Related Posts

Fed Opts for 25 Basis Points Rate Cut

Fed Opts for 25 Basis Points Rate Cut

by Solomon M.
September 18, 2025

Federal Reserve announces 25 bps rate cut amid divided committee support.

Bio Protocol Raises $6.9M in Seed Round

Bio Protocol Raises $6.9 Million Led by Maelstrom Fund

by Solomon M.
September 18, 2025

Bio Protocol secures $6.9M in seed funding, led by Maelstrom Fund, boosting DeSci potential.

Cardano, Ripple Lead Crypto Regulation Talks

Cardano, Ripple Lead Crypto Regulation Talks

by Solomon M.
September 18, 2025

Cardano and Ripple join U.S. lawmakers for key bipartisan crypto regulation discussions, marking significant policy progress.

Federal Reserve Cuts Interest Rates by 25 Basis Points

Federal Reserve Cuts Interest Rates by 25 Basis Points

by Solomon M.
September 17, 2025

Federal Reserve Chair Jerome Powell announces 25 bps rate cut affecting market liquidity.

NYDFS Mandates Blockchain Analytics for Bank Compliance

NYDFS Mandates Blockchain Analytics for Bank Compliance

by Solomon M.
September 17, 2025

NYDFS mandates blockchain analytics for banks to curb illicit activities, impacting financial compliance.

Bank of Canada Cuts Rates to 2.5% Amid Economic Strain

Bank of Canada Cuts Rates to 2.5% Amid Economic Strain

by Solomon M.
September 17, 2025

Bank of Canada lowers interest rates to 2.5%, addressing US tariff impacts.

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Crypto Betting
1xBit.com
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.