FTX-linked Moonstone bank to exit the crypto space
Following the collapse of FTX, the company has decided to rebrand and exit the crypto space. Go to Source Powered by WPeMatico
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Japanese regulators want crypto treated like traditional banks
Mamoru Yanase said crypto needs the same safeguards as financial institutions and banks. Go to Source Powered by WPeMatico
Bank of Thailand to allow first virtual banks by 2025
By allowing virtual banks, Thailand seeks to boost competition and economic growth. Go to Source Powered by WPeMatico
New York-based bank exits crypto after tumultuous year
The Metropolitan Bank Holding Corp, the holding company for Metropolitan Commercial Bank, says it’s completely exiting its crypto-asset-related vertical. Go to Source Powered by WPeMatico
German regulator warns of new banking and crypto malware ‘Godfather’
The “Godfather” malware is also known to target 110 cryptocurrency exchange platforms and 94 cryptocurrency wallet apps. Go to Source Powered by WPeMatico
Mexican CBDC Unlikely to Be Ready by 2024
The Mexican central bank digital currency (CBDC), the digital peso, is unlikely to be ready by 2024, as was announced back in 2021 by the Mexican government. In a statement, representatives from Banxico, the central bank of Mexico, stated the development of the currency was still in its initial stages, and there is still no … Read more
New York Attorney General Sues Celsius Co-Founder Alex Mashinsky for Crypto Fraud
On Jan. 5, 2023, the state of New York and attorney general Letitia James filed a lawsuit against Alex Mashinsky, the co-founder and former CEO of Celsius. The lawsuit claims that Mashinsky and Celsius defrauded “hundreds of thousands of investors, including more than 26,000 New Yorkers, out of billions of dollars worth of cryptocurrency.” Former … Read more
What is institutional DeFi and how can banks benefit?
Institutional DeFi could be a new paradigm that banks can leverage for product innovation, new pricing models and operational efficiencies. Go to Source Powered by WPeMatico
Coinbase Agrees to $100 Million Settlement With New York Financial Regulator for Anti-Money Laundering Violations
Coinbase has agreed to pay a $100 million settlement with the New York Department of Financial Services (NYDFS), according to a consent order signed by the NYDFS superintendent Adrienne Harris on Jan. 4, 2023. New York’s financial regulator said compliance problems were detected and the exchange’s anti-money laundering controls were inadequate from 2020 through 2021. … Read more
US federal agencies release joint statement on crypto asset risks and safe practices
The Fed, FDIC and OCC teamed up to wish the banks they regulate a FUD-filled new year with a warning about the risks associated with crypto assets and their efforts to contain those risks. Go to Source Powered by WPeMatico
