SoFi started offering crypto services even before becoming a bank, and its banking license might change how it hodls crypto.
Fed Starts New Program to Oversee Crypto Activity in U.S. Banks
The U.S. Federal Reserve is starting a new program for overseeing banks’ crypto activity, and it further clarified its requirement that the lenders under its authority get approval before engaging in digital assets activities.
Kansas Heartland Tri-State Bank closed by FDIC as banking crisis deepens
Heartland Tri-State Bank of Elkhart was closed on July 29, with the Federal Deposit Insurance Corporation (FDIC) taking control.
Crypto Biz: Elon Musk’s X targets financial services, PacWest emergency rescue and more
This week’s Crypto Biz explores Elon Musk’s plans for X, the Italian central bank’s take on DeFi, PacWest’s merger with Banc of California and more.
Canada proposes new capital rules for crypto holdings
The Office of the Superintendent of Financial Institutions (OSFI) is opening public consultations on two draft guidelines updating its capital and liquidity approach to crypto assets.
Existential threat? Why some banks are anxious about CBDCs
The prospect of a retail CBDC has some major banks anxious over their revenue streams.
PacWest stock flash crash recovers after rescue merger with Banc of Cali
PacWest shares crashed 27% before recovering on a rescue acquisition by the smaller Banc of California.
Russian CBDC by 2025? What’s happening with the digital ruble
2025–2027 might still seem far away, but the Central Bank of Russia is preparing its CBDC for mass adoption by then.
Russian CBDC by 2025? What’s happening with the digital ruble
2025–2027 might still seem far away, but the Central Bank of Russia is preparing its CBDC for mass adoption by then.
Société Générale subsidiary becomes the first fully-licensed crypto provider in France
Forge will have a right to custody digital assets, to purchase and sell them for legal tender, and to trade them against each other.
Crypto Catalysts: Investors to Weigh Jobs, Retail Sales, Production Data for Latest Inflation Signals
The jobs market remains strong, a concern for the U.S. central bank which seems intent on raising the Federal Funds rate 25 basis points.
Ripple CLO says court ruling could encourage banks to adopt XRP: Report
A July 13 court ruling in Ripple’s legal battle with the SEC suggested XRP may not necessarily be a security, a decision which has already made significant waves in the space.
National Australia Bank joins crypto exchange boycott, cites ‘scams’
National Australia Bank is the latest bank to announce blocks on certain cryptocurrency exchanges, citing the high risk of scams.
Mastercard AI-powered tool to help banks fight fraud
Mastercard revealed a new AI-driven tool available to banks for collecting insights to predict scams and frauds involving real-time payments.
Denmark orders Saxo Bank to erase cryptocurrency holdings
DFSA’s decision about Saxo Bank’s crypto holdings will have a “very limited impact” on its business and its customers will not experience any significant changes, the lender said.
Miners send millions to exchanges — 5 things to know in Bitcoin this week
Bitcoin miners appear to be reducing risk as the significance of BTC price above $30,000 remains firmly in evidence.
Federal Reserve’s banking bailouts reach a new weekly high of $103B
The Fed’s emergency loan facility has reached new highs as embattled banks are needing a central bank bailout.
Crypto debanking could drive industry underground: Australia Treasury
The Australian government is addressing the risks of cutting banking services to crypto exchanges amid flurry of banks restricting certain services over scams.
Major US banks get passing grade in ‘severe recession’ stress test
America’s central bank has been stress-testing retail banks in the wake of several high-profile banking collapses earlier this year.
FTX has recovered $7B in assets so far, has almost $2B to go to cover misappropriations
Tracing funds is highly challenging, according to the FTX Debtors’ second interim report, and there is no doubt that that was by design.