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U.S. Congress Members Push Back Against SEC’s Controversial Accounting Bulletin SAB 121
2.2.2024
U.S. Congress Members introduced bipartisan legislation on Thursday in hopes of overturning the Securities and Exchange Commission’s (SEC) controversial Staff Accounting Bulletin 121 (SAB 121). Senator Cynthia Lummis (R-WY), Representative Wiley Nickel (D-NC), and Mike Flood (R-NE) have joined...
Today in Crypto: Sinapore's Banking Giant DBS Unveils Its Metaverse Concept, UK Explores 'Best Way' to Ban Cold Calling for All Financial Products Including Crypto, SBF's Layers Can 'Make Unlimited Advantage of Visitation Hours'
24.8.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: Sinapore's Banking Giant DBS Unveils Its Metaverse Concept, UK Explores 'Best Way' to Ban Cold Calling...
Figure Abandons Quest to be U.S. Chartered Crypto Bank After Three-Year Fight
3.8.2023
Figure Technologies, Inc., has pulled its application to become a federally chartered bank in the U.S., ending a three-year rollercoaster ride as regulators clamped down on crypto activity and digital assets banking suffered a black eye when regional lenders associated with the tech world cratered...
Canada Unveils New Bank Capital Rules for Crypto Holdings
26.7.2023
New rules for banks and insurers are based on international norms, regulators said
Regulation, User Trust, and Tech Constraints Stand in the Way of Mass Crypto (Banking) Adoption, Says Brighty’s CTO Nikolay Denisenko
10.7.2023
In an interview with Cryptonews, Nikolay Denisenko, the co-founder and CTO of mobile digital finance Brighty app and former Lead Backend Engineer at neobank Revolut, spoke of the major challenges crypto companies face when moving into neobanking.
He further discussed how neobanks can utilize DeFi...
EU Seals Deal on Crypto Bank-Capital Rules
27.6.2023
Lawmakers have previously favored ‘prohibitive’ capital requirements to keep unbacked crypto assets out of the banking system
EU Governments Friendly to Tough Crypto Bank-Capital Restrictions, Negotiator Says
9.6.2023
A deal on new banking laws may be imminent, and will likely treat lenders’ crypto holdings as highly risky
EU Banks Could Access Stablecoins More Easily Under Leaked Plans
23.5.2023
The European Commission's plans could moderate a push from Parliament to discourage crypto holdings as it debates new capital requirements for banks
Even Licensed Firms Say Opening Bank Accounts Is Hard in Hong Kong
17.5.2023
Hong Kong has said it wants to be a crypto hub but its banks are rejecting account opening applications
Hong Kong Regulator Reminds Local Banks There Is No Ban on Crypto Firms
28.4.2023
Crypto companies have complained that opening bank accounts in the jurisdiction is difficult
Crypto Companies Make Complaints to UK Government Amid Banking Woes – What's Going On?
3.4.2023
Access to banking has gotten so limited in the UK over the past few weeks that crypto companies had to complain directly to Prime Minister Rishi Sunak’s government.
Per Simon Jennings, executive director at the advocacy group the UK CryptoAsset Business Council,
"When crypto started, the purists...
Crypto Banking Rules Could Be Modified If Market Reacts, Basel Committee Chair Says
28.3.2023
Controversial rules unveiled last year would discourage banks from holding assets such as bitcoin that are deemed risky
The Reality Behind the Crypto Banking Crackdown: ‘Operation Choke Point 2.0’ Is Here
22.3.2023
Banking enforcement targeting legal crypto businesses appears to violate the FDIC's mandate. It may also be amplifying financial contagion
Signature Bank’s Prospective Buyers Must Agree to Give Up All Crypto Business: Report
16.3.2023
The Federal Deposit Insurance Corporation (FDIC) has reportedly asked banks interested in acquiring the shuttered New York institution to submit bids by Friday
Banking Crisis in U.S. Likely to Push Crypto Firms Offshore
14.3.2023
U.S. Fed’s Supervision Chief Investigating What Happened With Silicon Valley Bank
13.3.2023
Michael Barr, the vice chairman responsible for bank supervision and regulation at the U.S. Federal Reserve, is examining how the regulated Silicon Valley Bank met with its rapid collapse last week
Silicon Valley Bank and Signature Bank Reignite ‘Moral Hazard’ Dilemma Bitcoin Was Designed to End
13.3.2023
A debate from the 2008 financial crisis resurfaces as the FDIC intervenes to help two troubled institutions with crypto connections, says CoinDesk's David Z. Morris
Digital Asset Inflows Will Slow Without On-Ramps Between Fiat and Crypto: Morgan Stanley
9.3.2023
Following the closure of crypto-friendly bank Silvergate, the focus will be on actions by Signature Bank and crypto exchange Binance, the report said
Federal Reserve’s Powell: We Don’t Want to Strangle Crypto Innovation, but Sector Is a Mess
7.3.2023
If the crypto industry was looking for a silver lining in Federal Reserve Chair Jerome Powell’s testimony in a U.S. Senate hearing on Tuesday, the best he could offer was that he’s hoping there’s something useful and innovative amidst crypto’s mayhem
Crypto’s Banking Problem Is Not Ironic
6.3.2023