Banks Financial News

15.12 / 23:39

regulation Banks BItlicense guidance New York State issues guidance for banks seeking to engage in activities with crypto

The New York state Department of Financial Services (DFS) released guidance on Dec. 15 for regulated banks seeking to engage in activities with virtual currency. The guidance, which took effect immediately, describes the application process and “summarizes the types of information the Department considers relevant” for obtaining the agency’s approval.

09.12 / 23:29

Ethereum defi Banks Financial US regulator seeks feedback on DeFi’s impact on financial crime: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.

09.12 / 08:39

Law Report Banks Warning Approach with caution: US banking regulator’s crypto warning

A United States banking industry regulator warned banks of the “emerging risks” of cryptocurrencies saying the sector should take a “cautious approach” and seek permission in some cases when engaging with crypto or crypto firms.

08.12 / 21:39

Law regulation Banks Congress lawmakers US lawmakers US lawmakers question federal regulators on banks' ties to crypto firms

Two members of the United States Senate have called on the heads of federal financial regulators to address “ties between the banking industry and cryptocurrency firms” in the wake of FTX’s collapse.

08.12 / 19:53

business Blockchain Technology Banks Fintech Company ZELF launches anonymous Visa debit card with crypto recharge

American fintech company ZELF has introduced an anonymous Visa debit card to be accepted at any of Visa’s 80 million locations worldwide.

08.12 / 15:21

business Adoption Banks Japan’s Sumitomo Mitsui to issue soulbound tokens to explore Web3

The Japanese financial group Sumitomo Mitsui Financial Group (SMBC) is moving to explore the benefits of Web3 by issuing soulbond tokens (SBTs).

07.12 / 20:57

business Technology Investments Banks Zodia Custody launches service to protect users’ crypto from exchange insolvency

Crypto asset provider Zodia Custody has launched a new service to help protect its clients from exchange insolvency.

07.12 / 17:19

business economy economics Banks fall Was the fall of FTX really crypto’s ‘Lehman moment?’

The FTX collapse was bad, but how bad? Almost from the moment that the Bahamas-based exchange suspended cryptocurrency withdrawals in early November — and three days before it filed for bankruptcy — the historic comparisons started flying.

06.12 / 10:45

business Blockchain Banks Bitcoin Silvergate CEO calls out 'short sellers' spreading misinformation

Silvergate Capital CEO Alan Lane has slammed “short sellers” and “other opportunists” for spreading misinformation over the last few weeks — just to score themselves a quick buck.

29.11 / 13:33

Blockchain regulation Banks Customer FTX reportedly used Alameda's bank accounts to process customer funds

The FTX contagion saga sees new revelations around its misconduct every other day, and the latest one solidifies the collusion between the failed crypto exchange and its sister company Alameda Research from the very beginning.

19.11 / 23:27

Law regulation Banks FTX illustrated why banks need to take over cryptocurrency

FTX — the three letters on everyone’s lips in recent days. For those active in the crypto space, it has been a shattering blow as a tumultuous year for crypto nears an end.

16.11 / 12:15

Adoption Banks Senate FDIC to prioritize crypto risk assessment as banks perform poorly in Q2

Economic uncertainty amid geopolitical tensions, rising interest rates and slowing economic growth have put a strain on the United States financial system. Reacting to the massive losses reported by the traditional banks in Q2 2022, the Federal Deposit Insurance Corporation (FDIC) decided to prioritize five key policies this year, which include evaluating the risks of crypto assets to the banking system.

06.11 / 15:27

markets Banks Central Bank Bitcoin Buying Bitcoin 'will quickly vanish' when CBDCs launch — Arthur Hayes

Bitcoin (BTC) holders looking to avoid Central Bank Digital Currencies (CBDCs) may have gained a surprise ally — banks.

31.10 / 17:07

Adoption Banks Central Bank Reserve Reserve Bank of India to reportedly launch digital rupee pilot in November

The Reserve Bank of India (RBI) is on track to debut the central bank digital currency (CBDC) after announcing the digital rupee project in February this year.

31.10 / 14:17

applications Banks avalanche This platform has just taken a big step to becoming a true crypto super app

An app that cuts out middlemen and mediators to put the power of personal finance in your hands has unveiled a major upgrade.

26.10 / 23:33

Government Law Banks United Kingdom banks hate crypto, and that's bad news for everyone

In 2018, the United Kingdom’s Financial Conduct Authority (FCA) wrote to the heads of the country’s biggest high street banks to emphasize the importance of due diligence when dealing with crypto businesses. That seems to have led to widespread high-risk ratings and bans on crypto-related banking, impacting both crypto businesses hoping to operate in the U.K. and investors alike.

26.10 / 10:15

business Banks Swiss Seba Bank market decline Swiss Seba Bank launches NFT custody despite market decline

The decline of the nonfungible tokens (NFT) market doesn’t seem to be a problem for the Swiss cryptocurrency-focused bank Seba as the firm now allows its customers to store NFTs.

20.10 / 17:07

Law Adoption Banks Crypto adoption: How FDIC insurance could bring Bitcoin to the masses

Over the years, several cryptocurrency companies have claimed that deposits with them were insured by the United States Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) as if they were regular savings accounts. While so far, no crypto firm has been able to offer depositors this type of insurance, some speculate it could be the key to mass adoption.

20.10 / 16:29

business Adoption Banks AML Institutional crypto adoption requires robust analytics for money laundering

Institutions have begun to take crypto seriously and have entered the space in numerous ways. As noted in a previous analysis, this has resulted in banks and fintechs looking at custody products and services for their clients.

19.10 / 08:57

business Banks banking German crypto bank Nuri tells 500K users to withdraw funds ahead of shut down

German crypto bank Nuri has told its 500,000 users to withdraw funds from their accounts as the firm prepares to shut down and liquidate the business, marking it as another victim of the 2022 bear market.

19.10 / 08:57

business Adoption Banks BNY services Major client demand the ‘tipping point' for BNY Mellon's crypto services

BNY Mellon CEO Robin Vince says “client demand” was the “tipping point” that ultimately led to the bank’s launch of institutional-focused crypto services last week.

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