Banks Financial News

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.

04.03 / 19:15

business regulation Banks FTX Bankruptcy network Silvergate closes Exchange Network, releases $9.9M to BlockFi

Crypto bank Silvergate announced on March 3 that it is discontinuing its digital assets' payment network, claiming the termination is a "risk-based decision". The move comes after the bank's stock fell over 59% in the past five days due to fears of a potential bankruptcy.

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 / 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.

03.03 / 01:43

business regulation HSBC Banks UK banks HSBC, Nationwide to ban crypto purchases with credit cards: Report

United Kingdom babanks HSBC Holdings and Nationwide Building Society are banning cryptocurrency purchases via credit cards for retail customers. They join a growing list of banks in the country to tighten restrictions on digital assets.

03.03 / 00:19

Blockchain Adoption Banks Chinese yuan Russian bank issues first on-chain bank guarantee in Chinese yuan

Moscow Credit Bank has issued a blockchain-based bank guarantee denominated in Chinese currency, claiming the product is the first in the country. The bank guarantee exceeds 100 million Chinese yuan — or nearly $144,600 USD at time of publication.

02.03 / 23:25

business Circle Banks partnership Paxos Circle, Paxos, Bitstamp and Galaxy join Coinbase in scaling back partnerships with Silvergate Bank

Several crypto firms have announced they will scale back or outright terminate their relationship with Silvergate Bank following an announced investigation into its alleged involvement in the FTX collapse.

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.

28.02 / 01:07

regulation Banks Bank of England UK banking regulator to propose crypto issuing, holding rules after Basel 3 finalized

The United Kingdom’s bank regulator, the Prudential Regulatory Authority (PRA), will propose rules for issuing and holding digital assets, Bank of England (BOE) executive director of the Prudential Policy Directorate Vicky Saporta said in a speech at the bank Feb. 27. The rules will be developed with consideration for Basel III rules and the Financial Services and Markets (FSM) bill now being considered by the Parliament.

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 / 22:11

business Stablecoin Circle Banks reserves FDIC-insured Citizens Trust Bank to hold $65M in USDC reserves

Citizens Trust Bank, a financial institution regulated by the Federal Deposit Insurance Corporation (FDIC), has partnered with Circle Internet Financial to hold some of its reserves in USD Coin (USDC) — a move the companies said would promote financial inclusion and digital literacy in the greater Atlanta area.

24.02 / 20:03

Blockchain Technology CBDC Adoption regulation Banks Central Bank Financial 5 ways CBDCs could impact the global financial system

Central bank digital currencies (CBDCs) are digital versions of fiat currencies that are backed and issued by central banks. Here are five ways in which CBDCs could impact the global financial system.

23.02 / 20:35

Blockchain Technology Adoption Investments Trading Banks Bitcoin How to teach cryptocurrency to your children

Teaching cryptocurrency to children can be a great way to introduce them to the world of finance and technology. Here are some interactive ways one can utilize to teach cryptocurrency to children:

23.02 / 11:29

business Blockchain Banks services German DZ Bank adds digital currencies into asset management services

DZ Bank, Germany’s second-largest bank in terms of asset size, will fully integrate digital currencies into its asset management services in collaboration with the digital asset firm Metaco.

18.02 / 01:25

business defi lending Banks MakerDAO MakerDAO voting on $100M loan participation with Florida commercial bank

Crypto lending platform MakerDAO is voting on a new proposal to bring another commercial bank into its ecosystem, strengthening the connection between decentralized finance (DeFi) and traditional finance.

15.02 / 14:05

cryptocurrency Banks Bloomberg Opinion The creeping menace of central banks' crypto dreams

Should the state be in the payments business? It's a simple question but that is in essence what a central bank digital currency would amount to. A digital pound, dollar, euro or renminbi is not some token with illusory investment upside that is implied by monikers such as "Britcoin.” CBDCs are more akin to stolid stablecoins rather than currencies. Unfortunately, their potential to erode free enterprise is all too real. Controlling how, what and when money is transferred is not a place government bodies should be competing, with a massive advantage, against the rest of the monetary system.

13.02 / 20:00

Law regulation European Union Banks Proposed EU parliament rule could have banks apply 1,250% risk weight to crypto exposure

The European Parliament has released a report on a draft bill proposing that banks holding cryptocurrencies set aside a large amount of capital in an effort to address potential risk.

12.02 / 22:37

business stocks Banks Wall Street Crypto bank Silvergate ranks as the second most-shorted stock on Wall Street

Crypto bank Silvergate Capital Corp. stands in the second position as most-shorted stock in the United States, with over 72.5% of its shares shorted, according to the latest Short Interest Reporting from Feb. 9.

12.02 / 17:15

business Government Blockchain Technology Adoption Banks Monetary policy: Definition, types and tools

Monetary policy refers to the actions taken by a central bank or monetary authority to manage the supply of money and interest rates in an economy, with the aim of promoting economic growth and stability. To affect the price and accessibility of credit, this may entail altering the money supply, setting interest rates or utilizing other instruments.

12.02 / 09:23

business Ethereum regulation Banks Taxes Bitcoin Brazil’s oldest bank allows residents to pay off tax bill with crypto

Brazilian bank Banco do Brasil is offering a new and convenient option for taxpayers to settle their dues using cryptocurrencies.

09.02 / 23:21

business Government regulation SEC Banks Banks under pressure from U.S. authorities to cut ties with crypto firms

United States authorities appear to be resurrecting past techniques to crack down on crypto firms and banks offering services to the industry, several sources told Cointelegraph.

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