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MicroStrategy co-founder Michael Saylor came under fire after recommending that Bitcoin should be custodied through “too big to fail” banks, a shift from his earlier stance favoring self-custody. In an Oct. 21 interview with financial markets reporter Madison Reidy,  Saylor indicated that Bitcoin investors have nothing to lose by sending their BTC to regulated institutions for safe keeping.  An investor who thinks that state-sanctioned Bitcoin seizure is possible is a “paranoid crypto-anarchist,” he said. Michael Saylor Comments Slammed By Crypto Community During the interview, Saylor was asked whether the government will someday strip Bitcoin holders of their self-custody rights, similar to what it did in 1933 with gold. “It’s a myth and a trope that goes on over and over again,” he replied, before adding that there is just a lot of “unnecessary” fear in the market. Michael Saylor, the leading voice and influen...

An unconfirmed report suggests Taurus will provide crypto custodial services to Spanish fin-serv giant Banco Santander. Spanish fin-serv giant Banco Santander has reportedly selected digital asset management firm Taurus to safeguard its Swiss clients’ Bitcoin (BTC) and Ether (ETH). On Nov. 20, Santander Private Banking International’s Swiss private banking unit rolled out a new Bitcoin and Ether trading service for clients with Swiss accounts. A Santander spokesperson told Cointelegraph that clients will get access to crypto investment services only after requesting it through relationship managers. A CoinDesk report citing ‘a person familiar with the arrangement’ stated that the bank has appointed crypto custody firm Taurus for the safekeeping of the crypto assets. Cointelegraph reached out for confirmation from Santander, which declined to comment, saying: “Unfortunately, it’s a no comment. We don’t comment on providers or possible providers.” On Sept 14, Taurus partnered with Ge...

The central bank of Russia is preparing to pilot the digital ruble , the country’s central bank digital currency (CBDC).  Starting on Aug. 15, the test will aim to evaluate the feasibility and functionality of a digital rendition of the ruble. Thirteen banks and a limited number of their customers will participate in the pilot program to evaluate the performance of the digital ruble platform.  The bank’s first deputy governor, Olga Skorobogatova, emphasized the significance of this phase, which aims to refine customer engagement methods and create a user-friendly experience. You might also like: Putin approves digital ruble bill Still, the central bank is cautious about integrating the digital ruble into the mainstream financial system. However, by 2025, citizens and businesses could have access to the digital ruble if the pilot phases and testing are successful. The pilot program focuses on core processes such as setting up digital...