Banks
Moonstone Bank to Exit Crypto Space
FTX's collapse may have damaged Farmington State Bank. Jean Chalopin, the Bahamas-based chairman of Deltec, another FTX banking partner, bought Moonstone Bank in 2020.
National Australia Bank to Launch Ethereum-Based Stablecoin
NAB will introduce an Ether-based Australian dollar-pegged stablecoin. Reports say the AUDN stablecoin streamlines cross-border transfers and carbon credit trading.
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.