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The FDIC announced that banks can engage in legally permitted crypto activities without prior regulatory approval, reversing previous policy, Reuters reported on Friday. This move follows a similar decision by the Office of the Comptroller of the Currency. “The FDIC is turning the page on the flawed approach of the past three years,” acting FDIC … Read more
Millions were recovered after a Kansas bank collapse tied to a crypto scam wiped out small-town investors’ savings, leading to the state’s longest white-collar sentence. FBI Seizes Millions in Crypto Fraud Recovery After Kansas Bank Collapse The Federal Bureau of Investigation (FBI) shared details on March 26 of how it successfully reclaimed more than $8 … Read more
President Donald Trump has signed an executive order mandating a federal shift to digital payments by September, aiming to reduce $657 million in waste and minimize fraud risks. Trump Signs Sweeping Order to Digitize All Federal Payments by September U.S. President Donald Trump signed an executive order on March 25 at the White House mandating … Read more
Marion Laboure, managing director and macro strategist at Deutsche Bank, stated that she viewed Trump’s bitcoin reserve move as nothing new, just a continuation of the crypto evolution that started last year. She also noted that many cryptocurrencies were destined to crash. Deutsche Bank Strategist Disregards Trump’s Admin Bitcoin Reserve: ‘Nothing New’ The policy pivot … Read more
Marion Laboure, managing director and macro strategist at Deutsche Bank, stated that she viewed Trump’s bitcoin reserve move as nothing new, just a continuation of the crypto evolution that started last year. She also noted that many cryptocurrencies were destined to crash. Deutsche Bank Strategist Disregards Trump’s Admin Bitcoin Reserve: ‘Nothing New’ The policy pivot … Read more
1,200 U.S. banks can now embrace crypto, with new regulations allowing broader involvement in digital assets while lifting prior restrictions on the industry. Regulator Just Supercharged Crypto Banking—Banks Can Now Embrace Crypto Fully The Office of the Comptroller of the Currency (OCC) announced on March 7 that national banks and federal savings associations are authorized … Read more
U.S. senators are pushing to end politically motivated debanking, arguing regulators have misused their authority. The FIRM Act aims to ensure fair financial access. US Senators Demand Action on Debanking—Is This the End of Political Banking? The U.S. Senate Committee on Banking, Housing, and Urban Affairs announced on March 6 that Chairman Tim Scott (R-S.C.) … Read more
$81 trillion was erroneously credited by Citigroup, as the customer was only meant to receive $280. The payment bypassed all Citigroup controls and had to be reversed several hours after its execution, which the bank refers to as a “near miss.” Citigroup Payment Fumble: Erroneous $81 Trillion Transfer Bypasses Controls Citigroup, one of the most … Read more
Bank of America could launch a U.S. dollar-pegged stablecoin if federal lawmakers pass legislation creating a regulatory framework for such digital assets, CEO Brian Moynihan stated in a Feb. 26, 2025, interview with Fortune magazine. BOA’s Stablecoin Plans Hinge on Pending Congressional Legislation, CEO Says BOA boss Brian Moynihan likened the proposed stablecoin to a … Read more
According to David Eastman, Yougov’s managing director for Latin America, this shows the advance of crypto in Brazil and should serve as a wake-up call for banks. Yougov Poll Shows Some Users Would Substitute Banks With Crypto A recent survey conducted by Yougov, an international online research data firm, has given insights into the advancement … Read more