BANKS
Banks to Inform Reserve Board Before Engaging in Crypto Activity, Fed Warns
The Federal Reserve has warned banks intending to take advantage of new opportunities involving cryptocurrencies, stating that they should ensure activities they intend to undertake are legal.
FDIC Says Deposits and Cryptos at Non-Bank Entities Are Uninsured
The FDIC said that the public should be aware that deposit insurance does not cover non-bank entities and non-deposit products, including speculative acts such as stocks and cryptocurrencies.
Customers Trust in Banks More than in Crypto, France Central Bank Governor Says
Bank of France Governor Francois Villeroy de Galhau has expressed his view that the current extreme volatility facing the crypto market has made consumers lose trust in cryptocurrencies.
Green Bay Fintech Firm Sequoir Developing Crypto Technology to Fill ‘Capability Gap’ for Banks
Sequoir envisions cryptocurrency trades and payments will be done using bank apps.
Argentina Halts Crypto Operations Undertaken by Financial Institutions
Days after Argentina’s largest private bank Banco Galicia opened crypto trading services, the nation’s central bank cracked the whip by banning financial institutions from carrying out crypto transactions.
Banks are Still Far Away from Trading Crypto: Genesis CEO
Bitcoin will not receive the same amount of significance from banks any time soon as it has from individual investors, the head of the crypto prime brokerage Genesis Global Trading said.
Japan’s Financial Regulator Proposes New Legislations, Limiting Stablecoin Issuance to Banks
Japan’s FSA is working on a legislation that is set to be introduced next year. The regulations seek to make it only wire transfer companies and banks can issue stablecoins.
US Financial Regulators Aiming at How Banks Could Hold Bitcoin & Crypto Assets, Says FDIC Chairperson
Jelena McWilliams, the chairperson of the Federal Deposit Insurance Corporation (FDIC), has revealed that US financial Regulators are creating clearer regulations on how banks can engage in activities involving cryptocurrencies.
US Federal Reserve Weighs the Pros and Cons of a Digital Dollar CBDC
The US Federal Reserve has continued to research the benefits and impact of implementing a central bank digital currency (CBDC).
Former British Politician Godfrey Bloom Announces First Bitcoin Purchase
Godfrey Bloom, the former British Member of Parliament, has revealed that he is making his first purchase of Bitcoin.
Why Regulated Banks Have Greater Potential For Financial Crime Than Bitcoin and Crypto
While agencies focus their attention on transparent Bitcoin transactions, banks have had an official free pass disclaimer to facilitate money laundering the entire time.
Banks Are Increasingly Starting to Offer Cryptocurrency Services in 2020
Banks have increased their interest in cryptocurrencies. Many of them have decided to join the cryptocurrency market, either by offering investments in cryptocurrency or by exploiting the capabilities of blockchain technology, which is already used in various areas with financial services.
Top Banks in South Korea Select CenterPrime And Chainlink To Bring FX Rates Data to DeFi
Top banks in South Korea have selected Chainlink and CenterPrime to bring a blockchain-enabled decentralized finance solution for foreign exchange rates.
Reserve Bank of India Says Banks Are Authorized to Provide Accounts to Cryptocurrency Traders
The Reserve Bank of India recently responded to an information query, saying that Indian banks are not prohibited from dealing with crypto businesses.
CipherTrace Unveils New Compliance Software For Banks Against Illicit Crypto Transactions
CipherTrace launches Armada to fix the blind spot in cryptocurrency compliance