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Financial Services chair McHenry send SEC second request for records related to SBF arrest
13.4.2023
Sam Bankman-Fried was arrested just before his committee appearance was scheduled
Blockchain Financial Services Firm Paxos Sets Withdrawal From Canada
12.4.2023
Paxos, whose businesses include crypto brokerage and stablecoin issuance, is exiting the Canadian market, effective June 2, according to a posting on its website
‘Not Related to a Digital Currency’ — US Central Bank Addresses Concerns Over Fednow Payment Network
9.4.2023
The U.S. Central Bank has issued an update regarding the Federal Reserve’s Fednow project, which is scheduled to commence in July. The Fed has responded to recent criticism of the Fednow service and asserts that the Fednow payment network is “neither a form of currency nor a step toward...
Swiss State-Owned Banking Giant Postfinance to Offer Crypto Services
7.4.2023
Postfinance, one of Switzerland’s largest retail banks, will offer customers access to major cryptocurrencies and related services. The state-owned financial institution will be using the banking platform developed by the Swiss-licensed digital asset bank Sygnum. Postfinance Partners With Sygnum...
New York Regulator Calls Crypto Theories Associated With Signature Bank Closure ‘Ludicrous’
7.4.2023
Adrienne A. Harris, the superintendent of New York’s Department of Financial Services, has branded as “ludicrous” the claims that the closure of Signature Bank was related to its crypto business. Harris insisted that the bank’s “high percentage of uninsured...
Crypto-Focused Menai Financial Group Shuttering Market-Making Business in London and Tokyo
5.4.2023
The firm said it continues to invest in and grow its asset management business
NYDFS Chief Dismisses 'Choke Point 2.0' Theory of Signature’s Closure as 'Ludicrous'
5.4.2023
Signature Bank’s takeover last month was not a part of any so-called “Operation Choke Point 2.0,” according to Adrienne Harris, superintendent of the New York Department of Financial Services (NYDFS), who called the idea “ludicrous.”
80 Crypto Firms Interested in Establishing Presence in Hong Kong, Official Says
25.3.2023
Hong Kong’s Secretary for Financial Services and Treasury has revealed that more than 80 crypto companies have expressed interest in establishing a presence in Hong Kong. They include companies across mainland China, Canada, European Union countries, Singapore, the U.K., and the U.S....
Crypto Ads in Belgium to Feature ‘Punchy Warning’ of Risks, New Rules Imply
21.3.2023
The financial regulatory body of Belgium has been tasked by the government to regulate advertisements for cryptocurrencies. New rules, set to enter into force in May, oblige advertisers to clearly warn investors of the risks associated with the digital assets. Belgium Poised to Protect Consumers...
Over 80 crypto firms eyeing presence in Hong Kong: Financial Secretary
20.3.2023
Since October, more than 80 virtual asset companies have expressed interest in establishing in the city, while 23 have indicated actual plans of doing so
Fed, central banks enhance ‘swap lines’ to combat banking crisis
20.3.2023
Currency swap lines have been used during times of crisis in the past, such as the 2008 global financial crisis and the 2020 coronavirus pandemic
Signature Bank Closure Has Nothing to Do With Crypto, Says Regulator
15.3.2023
The decision to close down Signature Bank had “nothing to do with crypto,” said the New York State Department of Financial Services, the regulator that took possession of the troubled bank on Sunday. The financial watchdog insisted that its decision to put Signature Bank in receivership...
Bank Board Member and Dodd-Frank Co-Sponsor Barney Frank Suspects ‘Anti-Crypto’ Message Behind Signature Bank Failure
13.3.2023
Barney Frank, a former member of the U.S. House of Representatives from Massachusetts and leading co-sponsor of the 2010 Dodd-Frank Act, discussed his opinion on the recent failure of Signature Bank. In an interview, Frank stated that he believes regulators aimed to “send a very strong...
NY Regulators Seize Control of Signature Bank, Depositors Assured by Federal Bailout
13.3.2023
On Sunday, the New York Department of Financial Services, or DFS, announced that it had taken possession of Signature Bank. The DFS appointed the Federal Deposit Insurance Corporation, or FDIC, as the receiver of the bank. In a joint statement, the U.S. Federal Reserve, Treasury Department,...
Nigerian Central Bank Unveils Open Banking Guidelines
12.3.2023
The Nigerian central bank recently said it had issued operational guidelines for open banking in Nigeria which are expected to enhance efficiency and access to financial services. According to the central bank, some of the guidelines’ objectives include ensuring “consistency and security...
Blockchain.com Shutters Asset Management Subsidiary Amid Crypto Winter and Industry Turmoil
11.3.2023
According to reports and a filing that shows its name struck off the U.K. companies’ register list, Blockchain.com is sunsetting its Blockchain.com Asset Management subsidiary. A company spokesperson cited deteriorating “macroeconomic conditions” and the “crypto winter”...
Fed Chair Powell Provides Update on US Central Bank Digital Currency
10.3.2023
Federal Reserve Chairman Jerome Powell has provided an update on the Fed’s central bank digital currency (CBDC) work in a hearing before the House Financial Services Committee. While stating that the Fed is “making progress on technological issues,” Powell stressed that...
Binance USD market cap falls below $10B amid rising regulatory concerns
3.3.2023
As it stands today, BUSD's market cap has fallen by nearly $14 billion since its all-time high of $23.49 billion on Nov. 15, 2022
HSBC, Nationwide Impose New Restrictions on Cryptocurrency Purchases in UK
3.3.2023
HSBC and Nationwide have imposed new restrictions on cryptocurrency purchases in the U.K. The two financial institutions cited a warning from the Financial Conduct Authority (FCA), the British regulator overseeing the financial services industry, regarding the risks involved in purchasing...
House Digital Assets Panel Chair Ready to Work With Ag Committee on Crypto Framework
2.3.2023
Representative French Hill (R-Ark.) is the chairman of the newly-formed Financial Services Subcommittee on Digital Assets