The US Federal Reserve has officially dropped its long-standing guidance that required banks to jump through hoops before offering crypto-related services. Gone are the days when state-chartered banks had to alert the Fed in advance or wait for written approvals to deal in stablecoins or digital assets. In a decisive
Australia is about to overhaul its crypto regulations, which requires exchanges and stablecoin issuers to now obtain a financial services license. This is an initiative to tackle the debanking crisis affecting digital asset firms. The proposed framework aligns with global regulatory trends, in a move to enhance consumer protection, market
In the last 24 hours, amid several news reports, the cryptocurrency sector witnessed the release of governmental institutions’ Bitcoin holdings data. The governmental reserves alone account for 2% of Bitcoin’s total supply. This indicates a widespread adoption of cryptocurrency in the global economy. Moreover, several banks have begun listing digital
China has announced significant monetary easing measures, including multiple rate cuts and a reduction in banks’ reserve requirements, to stimulate its struggling economy. The People’s Bank of China (PBOC) will lower the reserve requirement ratio (RRR) for banks by 50 basis points (bps), which is expected to release approximately $142
Commerzbank, Germany’s second-largest bank by branches, has partnered with Crypto Finance, a subsidiary of Germany’s largest stock exchange operator, to provide crypto trading services for its corporate clients. According to the announcement, this move will initially focus on Bitcoin (BTC) and Ethereum (ETH), allowing businesses to easily and securely engage
The U.S. Securities and Exchange Commission (SEC) has reinforced its strict stance on limiting crypto custody services for banks and regulated financial firms. In a recent talk at a banking conference on September 9, SEC Chief Accountant Paul Munter reaffirmed the agency’s firm position on rules governing the custody of
The Former CEO of Kankas Heartland Tri-state Bank is sentenced to 24 years in prison. You reap what you sow is now vividly seen in the actions of Shan Hanes. The ex-CEO of failed Heartland Tri-state Bank who fell for a crypto scam, is now facing consequences for his wrongdoings.
Zodia Markets, a cryptocurrency subsidiary of Standard Chartered, is reportedly on the verge of acquiring Elwood Capital Management. This move signifies the growing intersection of traditional banking and the burgeoning crypto sector. The parties have not officially confirmed the deal. Yet, the acquisition is anticipated to be finalized by the
The crypto market witnessed a major milestone as the leading banking institution, the Standard Chartered Bank, announced the launch of a trading desk for spot Bitcoin (BTC) and Ethereum (ETH). Two insiders have confirmed that the trading desk will operate from London, as reported by Bloomberg Spot cryptocurrencies including BTC
Singapore banks affected by the substantial money laundering announced increased scrutiny of their wealthy customers according to Bloomberg. Leading banks such as Citigroup Inc., and DBS Group Holdings Ltd. are among the banks that are working to tighten security following the attack in 2023. Notably, the money laundering case that
