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Joseph Rees

Thrift Banks Eye AI, Digital Banking at 52nd Annual Convention

Weekly Crypto Roundup Get the weekly briefing for Philippine crypto insiders, from the country’s longest-standing crypto and blockchain news publication. The Chamber of Thrift Banks (CTB) opened its 52nd Annual Convention on July 15 in Makati City, prioritizing the integration of artificial intelligence and digital services alongside traditional banking. The event gathered banking executives, regulators,…

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Coinbase Reveals How One Configuration Error Triggered a 50-Minute Outage

Key Takeaways Coinbase traced the 50-minute outage to an undetected Kubernetes resource name collision during a routine infrastructure update. The incident disrupted transfers, Coinbase Card debit purchases, institutional settlements, and onchain services across multiple platforms. The outage also disabled Coinbase’s normal rollback process, prompting new safeguards and infrastructure changes. Coinbase Explains What Went Wrong Crypto…

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SwiftPay Launches SwiftGuard to Help Banks Meet BSP Anti-Fraud Rules

Weekly Crypto Roundup Get the weekly briefing for Philippine crypto insiders, from the country’s longest-standing crypto and blockchain news publication. SwiftPay, the enterprise payments arm of Bangko Sentral ng Pilipinas (BSP)-regulated Swift Technology Ventures Inc., has launched SwiftGuard, a real-time fraud-detection and decisioning layer aimed at helping local banks and BSP-supervised financial institutions (BSFIs) comply…

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Democrats Reject CLARITY Act Draft as Crypto Ethics Dispute Intensifies

Key Takeaways Seven Senate Democrats said the latest CLARITY Act draft needs stronger ethics and consumer protections. The revised bill would ban federal officials from issuing or sponsoring digital assets for compensation. Republicans defended the proposal, while White House adviser Patrick Witt challenged Democrats’ criticisms. Democrats Say Draft Still Falls Short A bipartisan agreement on…

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BIS Warns Stablecoins Are Breaking Capital Controls as Dollarization Accelerates

Key Takeaways BIS researchers Hofmann, Mehrotra and Paulick studied 130+ economies and stablecoin data from 184 countries since 2017. Capital controls cut bank dollarization by up to 32 percentage points but showed no effect on stablecoin inflows. Stablecoin market capitalization has nearly tripled since 2023, led by USDT and USDC. A Bank for International Settlements…

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