Regulation Financial News

19.03 / 09:23

regulation Report HSBC Bank of England SVB Bankruptcy SVB's UK arm issues 15M pounds in bonuses after symbolic bailout: Report

Silicon Valley Bank UK (SVB UK) has granted millions of pounds in employee bonuses, just days after it was rescued by global banking giant HSBC for just 1 pound, a recent report revealed.

19.03 / 04:01

regulation UBS Credit Suisse Financial Times Swiss National Bank Takeover Switzerland preparing emergency measures for UBS' takeover of Credit Suisse: Report

The Swiss National Bank (SNB) and Switzerland’s financial regulator reportedly believe that the acquisition of investment bank Credit Suisse by UBS, Switzerland's largest bank, is the “only option” to prevent a “collapse in confidence” in Credit Suisse.

19.03 / 02:49

regulation Bloomberg Insurance banking Silvergate US midsize banks seek FDIC Insurance on 'all deposits' for 2 years: Report

The Mid-Size Bank Coalition of America (MBCA) has reportedly asked United States federal regulators to extend insurance on all deposits for the next two years.

18.03 / 20:07

regulation SEC coinbase Crypto Exchange Coinbase Crypto Exchange Considers Overseas Trading Platform Amid U.S. Crypto Crackdown – Here's What You Need to Know

Coinbase is considering setting up a digital asset exchange outside the United States amid increasing regulatory pressure and a souring banking climate for crypto firms.

18.03 / 14:07

business regulation FTX Fried Sam bail week Sam Bankman-Fried to propose revised bail package 'by next week'

The lawyer representing crypto entrepreneur Sam Bankman-Fried (SBF) in the ongoing FTX case will soon present a revised bail package to Judge Lewis Kaplan of the Southern District of New York. The move comes after Kaplan expressed displeasure about SBF’s use of encrypted-messaging apps and virtual private network (VPN) services while out on bail.

18.03 / 01:53

UPS MET Digital regulation banking National Protego’s conditional national bank status expired without approval: Report

Institutional cryptocurrency custodian Protego’s conditional national trust banking charter has expired without it receiving permanent approval, according to a report in Fortune on March 17. Protego failed to meet pre-conversion requirements, the magazine reported.

18.03 / 01:53

regulation Banks Congress Silicon Valley Signature Bank hearing Congress announces March 29 hearing into failures of SVB and Signature Bank

Representatives from the Federal Deposit Insurance Corporation and Federal Reserve will be testifying before the United States House Financial Services Commission in a newly announced hearing investigating the collapse of two major banks.

17.03 / 21:01

regulation Banks Federal Reserve Central Bank banking Financial Services How credible is the ‘Operation Chokepoint’ theory?

Global economic conditions are tightening; interest rates are in flux; and inflation has yet to be curbed. Considering the economic headwinds, the fact that Silvergate Bank, Silicon Valley Bank and other banks are breaking is not surprising.

17.03 / 20:13

business Blockchain regulation Banks Central Bank banking Bitcoin Banking crisis: What does it mean for crypto?

Last week’s rapid collapse of Silvergate, Silicon Vallley Bank and Signature Bank have highlighted the fragility of the traditional banking sector while depriving crypto of the main fiat on-ramp points in the U.S.

17.03 / 19:39

Law regulation European Union ‘If a government bans drugs, it should also ban crypto’ — Belgium’s former finance minister

Johan Van Overtveldt, a member of the European Parliament and the former Minister of Finance of Belgium, has called for a “strict ban” on crypto as a result of the current banking crisis.

17.03 / 15:43

business regulation SVB Silicon Valley Bankruptcy Financial Breaking: SVB Financial Group files for Chapter 11 bankruptcy

Troubled SVB Financial Group has filed a voluntary petition for a court-supervised reorganization under Chapter 11 in the United States Bankruptcy Court to preserve value.

17.03 / 15:19

business regulation banking SVB Silicon Valley Signature Bank US Bank collapse - was crypto being targeted?

Signature Bank in particular served the likes of Paxos Trust and Celsius and other major crypto firms that suffered as a result of the decisions taken by the Federal Deposit Insurance Corporation and New York State Department of Financial Services.

17.03 / 12:49

Adoption regulation Taxes UK government Crypto assets to become a separate category in the UK tax forms

As Great Britain is gradually moving to its own comprehensive crypto framework, the Treasury introduces a separate category for crypto assets into the tax return forms. The particular line should appear in the tax forms in 2024-25.

17.03 / 12:49

Blockchain regulation Tokens Decentralization Assets Digital Asset Signum Digital scores approval to offer security tokens in Hong Kong

Signum Digital, a joint venture of Coinstreet and Somerley, has announced that it has received an approval-in-principle from the Hong Kong Securities and Futures Commission (SFC) for its security token offering (STO) and subscription platform.

17.03 / 11:09

Blockchain regulation SEC us government students Universities Intern for Gensler? SEC's college traineeships start at $15 an hour

College students wishing to intern for the United States Securities and Exchange Commission (SEC) are in luck — the regulator has opened applications for its Scholars Program for Fall 2023.

17.03 / 01:07

regulation Congress SVB Signature Bank lawmaker US lawmaker suggests Signature's collapse was tied to instability of crypto

Michael Bennet, a United States Senator representing the state of Colorado, has suggested that banks that associated with crypto firms did not make “prudentially sound” decisions.

16.03 / 23:49

business Adoption regulation DEX Decentralized Exchange Orca DEX to block US users from trading with its interface

The Solana-based decentralized exchange (DEX) Orca will block all United States users from trading using its web interface beginning March 31, according to a March 16 notice posted to its official website.

16.03 / 22:49

regulation Tax UK UK to Ramp Up Crypto Oversight: Tax Forms to Include Separate Reporting for Crypto Assets – More Regulation Incoming?

The UK will ramp up oversight of the crypto sector with tax forms sent out to individuals now set to include a separate reporting option for crypto assets.

16.03 / 20:05

regulation Banks Federal Reserve Blockchain Association seeks info from Fed, FDIC, and OCC on 'de-banking' crypto firms

The United States-based crypto advocacy group Blockchain Association called on financial regulators to provide information related to the potential “de-banking of crypto firms” in the wake of the failures of banks including Signature, Silicon Valley Bank, and Silvergate.

16.03 / 17:15

defi regulation Banks Central Bank Financial Services Bitcoin 9 key metrics to analyze the health of a bank

A bank health check is a comprehensive assessment of a bank’s financial condition, performance and risk management practices. It is conducted by banking regulators or independent auditors to evaluate the bank’s ability to withstand adverse economic conditions and potential risks, including credit risk, market risk, liquidity risk and funding risk.

16.03 / 17:03

CBDC regulation wallet Europe European Union European Parliament votes to form final law on EU digital wallet

European lawmakers are moving forward with the introduction of a European Union-wide digital wallet by passing a plenary vote on moving the initiative to interinstitutional negotiations.

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