Fed denies Custodia Bank application to join the Federal Reserve System
The bank applied for the application in 2019 and sued the Fed in an attempt to speed up a decision. Go to Source Powered by WPeMatico
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‘Prohibitive’ Capital Rules for Banks Holding Crypto Win Support in EU Parliament
Lawmakers in the European Union have backed legislation imposing new capital requirements for financial institutions, including strict rules meant to cover crypto-related risks. The latter concern banks keeping digital assets and are expected to enter into force in January, 2025. EU Legislators Approve Draft Law Implementing the Basel III Capital Regulations for Banks Members of … Read more
China-backed Blockchain Project Proposes SWIFT Alternative for Stablecoins and CBDCs
The company developing China’s blockchain network wants to create a system for international settlements with stablecoins and state-issued digital currencies. The plan is to establish a platform facilitating the use of these two fiat-based digital assets in foreign trade. Company Behind China’s Blockchain Push Aims to Make Stablecoins and State Coins Interoperable Hong Kong-based Red … Read more
U.S. home-loan banks lent billions of dollars to crypto banks: Report
Signature Bank and Silvergate reportedly borrowed over $13 billion from the federal home loan system. Go to Source Powered by WPeMatico
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
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