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 earlier this year.
Canada Unveils New Bank Capital Rules for Crypto Holdings
New rules for banks and insurers are based on international norms, regulators said
EU Seals Deal on Crypto Bank-Capital Rules
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
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
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
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
Crypto companies have complained that opening bank accounts in the jurisdiction is difficult.
Crypto Banking Rules Could Be Modified If Market Reacts, Basel Committee Chair Says
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
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
The Federal Deposit Insurance Corporation (FDIC) has reportedly asked banks interested in acquiring the shuttered New York institution to submit bids by Friday.
Signature Bank’s Prospective Buyers Must Agree to Give Up All Crypto Business: Report
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
U.S. Fed’s Supervision Chief Investigating What Happened With Silicon Valley Bank
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.
Digital Asset Inflows Will Slow Without On-Ramps Between Fiat and Crypto: Morgan Stanley
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
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
OCC Halts Fair Access Banking Rule
The rule would have prohibited US banks from denying services based on ideological factors.
OCC Halts Fair Access Banking Rule
The rule would have prohibited US banks from denying services based on ideological factors.
Coinbase’s Ex-Lead Lawyer Sold $4.6M in Stock to Lead US Banking Watchdog
Brian Brooks left Coinbase to lead the U.S. Office of the Comptroller of the Currency last month.
Marijuana-focused Stablecoin Issuer Added to Arizona Fintech Sandbox
Arizona’s fintech program has added a controversial startup using stablecoins to evade federal regulations