Banking Financial News

09.03 / 18:13

business Law Adoption Banks AML banking Money laundering Anti-money laundering services Banks with crypto services require new Anti-Money Laundering capabilities

The new year began with the news that notable Web3 entrepreneur Kevin Rose fell victim to a phishing scam in which he lost over $1 million worth of nonfungible tokens (NFTs).

07.03 / 16:25

regulation Investing Kraken banking Silvergate Kraken Crypto Exchange to Disrupt Traditional Banking with the Launch of Its Own Bank for Digital Assets – Here's What You Need to Know

Major crypto exchange Kraken is finally putting its feet into the banking waters with the new Kraken Bank.

07.03 / 06:57

Law regulation banking Bitcoin Industry Bitcoin Regulation 'Home' regulator could solve crypto's 'fragmented supervision' issue: Comptroller

Cryptocurrency firms operating multiple entities in different countries should be overseen by one consolidated “home” regulator to stop them from playing "games" aimed at skirting regulators, the acting head of the United States banking regulator has opined.

07.03 / 06:33

regulation Banks white house banking White House 'aware of the situation’ at Silvergate, says spokeswoman

The Biden Administration is “aware of the situation” at Silvergate and will continue to monitor reports on the troubled bank as it unfolds, according to a White House spokesperson.

06.03 / 07:29

business Tether Bitfinex banking Tether strikes at WSJ over ‘stale allegations’ of faked documents for bank accounts

The company behind stablecoin Tether (USDT) has rebuffed a report by The Wall Street Journal claiming it had ties to entities that faked documents and used shell companies to maintain access to the banking system.

03.03 / 21:05

markets Funding Banks FTX banking Bitcoin crypto market cap Total crypto market cap takes a hit amid Silvergate Bank crisis

Cryptocurrency markets experienced a relatively calm month in February as the total market capitalization gained 4% in the period. However, the fear of regulatory pressure appears to be having an impact on volatility in March.

03.03 / 14:23

Payments regulation HSBC banking UK Regulator Warnings Prompt HSBC and Nationwide Banks to Limit Crypto Transactions

HSBC Holdings Plc and Nationwide Building Society imposed limits on retail customers' access to cryptoassets in another episode of UK banks reacting to the recent crypto industry legal and regulatory issues.

03.03 / 09:35

business regulation SEC coinbase Banks banking Digital Asset accounting lawmakers Customers U.S. lawmakers argue SEC accounting policy places crypto customers at risk

Two United States lawmakers have criticized crypto accounting guidelines outlined by the securities regulator, arguing it places crypto customers at greater risk of loss.

02.03 / 17:27

business regulation coinbase banking Coinbase no longer accepts payments via Silvergate Bank

Cryptocurrency exchange Coinbase announced that it had terminated its partnership with Silvergate Bank as its United States dollar banking partner, citing an ongoing investigation. In a tweet, the exchange said:

02.03 / 02:23

business Banks banking Press Release Future Silvergate stock plunges 31% after delayed filing raises doubts over future

Silvergate Bank has announced that it will delay the filing of its annual 10-K report, which has sent its stock price down over 30% after hours.

02.03 / 00:51

regulation banking BIS prudential Crypto distribution is uneven among banks as prudential exposure rises: BIS report

Around 20% of banks have exposure to crypto assets, a Bank for International Settlements (BIS) report released Feb. 28 found. The majority of those banks are in the Western Hemisphere.

25.02 / 13:33

Adoption regulation Liquidity Banks Federal Reserve banking US agencies recommend old risk management principles for crypto liquidity

In a joint statement released by three United States federal agencies, the banking sector was advised against creating new risk management principles to counter liquidity risks resulting from crypto-asset market vulnerabilities.

24.02 / 02:21

regulation Federal Reserve Central Bank banking Reserve US Federal Reserve denies Custodia Bank's request for Fed supervision

The United States Federal Reserve has denied a request from cryptocurrency bank Custodia Bank to reconsider its membership application to the Federal Reserve System.

23.02 / 14:23

CBDC regulation Federal Reserve banking legislation Reserve US Congressman Proposes Bill to Block Federal Reserve from Creating American CBDC – What's Going On?

US Republican House Majority Whip Tom Emmer has introduced a bill on Wednesday to prevent the Federal Reserve from issuing a central bank digital currency (CBDC) or using it to control monetary policy.

17.02 / 23:51

Stablecoin Binance regulation SEC banking CZ denies report Binance is considering major breakup with US business partners

Binance CEO Changpeng Zhao has denied a report that the company is considering cutting ties with United States business partners. Binance has been the object of increasing scrutiny from U.S. regulators in recent weeks.

07.02 / 17:45

business Blockchain Technology Adoption defi banking The history and evolution of the fintech industry

The financial technology (fintech) industry has its roots in the late 20th century, with the advent of electronic banking and online stock trading. Since then, fintech has expanded and changed over time as a result of technological and internet advances. As a result, new financial services and products have been created with the intention of enhancing accessibility, simplicity and effectiveness in the financial services industry.

28.01 / 09:07

business Report stocks Banks banking Silvergate suspends dividends to preserve 'highly liquid balance sheet'

California-based crypto bank Silvergate has suspended dividend payouts to preserve its “highly liquid balance sheet.”

27.01 / 21:39

business regulation Banks Federal Reserve Central Bank banking Reserve Fed denies Custodia Bank application to join the Federal Reserve System

The United State Federal Reserve Board has rejected Custodia Bank’s application to become a member of the Federal Reserve System. In its announcement, the Fed stated that the application was “inconsistent with the required factors under the law.” It also claimed Custodia had an “insufficient” management framework and cited an earlier joint declaration by the Fed with the Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency that found crypto assets to be at odds with sound banking practices.

17.01 / 15:53

business Banks banking reports Silvergate reports $1B net loss in the fourth quarter of 2022

Silvergate Bank, which currently faces a class-action lawsuit over its FTX and Alameda dealings, has announced a $1 billion net loss attributable to common shareholders in the fourth quarter of 2022.

17.01 / 08:13

regulation banking Japanese regulators want crypto treated like traditional banks

Financial regulators in Japan have urged global regulators to treat crypto the same way as they do banking, calling for tougher rules for the sector.

16.01 / 13:53

MET banking Bitcoin Nubank Brazil’s Nubank Remains Bullish on Crypto with New Token Listings

The Brazilian neobank Nubank’s decision to list polygon (MATIC) and uniswap (UNI) on its banking app has been met with enthusiasm from the crypto community.

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