The FDIC advanced a proposed rule that would set Bank Secrecy Act and sanctions compliance standards for bank-linked stablecoin issuers. The measure would apply to FDIC-supervised stablecoin issuers and include anti-money laundering oversight, Treasury Department consultation, and enforcement provisions. FDIC Advances Stablecoin Compliance Rule Under GENIUS Act The Federal Deposit Insurance Corporation (FDIC) announced on […]
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An FDIC report on three failed banks stated that depositors tied to the digital asset sector and active escrow accounts were more likely to move funds during the fastest bank runs in U.S. history. The study said Signature Bank’s active escrow deposits fell 88%. Digital Asset Depositors Moved Faster During Bank Stress The Federal Deposit […]
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Federal Deposit Insurance Corporation plans to propose rules that would exclude stablecoins from pass-through insurance coverage, highlighting a regulatory divide between tokenized deposits and payment stablecoins. The Limits of Pass-Through Protection Federal Deposit Insurance Corporation (FDIC) Chairman Travis Hill said the agency plans to propose rules that would explicitly exclude payment stablecoins from its pass-through […]
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Federal banking regulators on Thursday said tokenized securities should generally receive the same capital treatment as their traditional counterparts, reinforcing that existing bank capital rules remain technology-neutral even when blockchain enters the chat. OCC, FDIC, and the Federal Reserve Release Guidance on Tokenized Securities for Banks The clarification arrived through a joint release from three […]
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The Federal Deposit Insurance Corporation has issued its first official proposal outlining how banks can obtain approval to issue payment stablecoins, marking the GENIUS Act’s regulatory framework moving from statute to execution. FDIC Opens Door for Bank Stablecoins With New Approval Framework The FDIC’s notice of proposed rulemaking, approved by the agency’s board on December […]
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Coinbase chief legal officer Paul Grewal accused the FDIC of playing “word games” after the agency said it only searched for pause letters from a specific time period.
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“You must ensure your staff cease and desist destruction of all materials and end retaliatory actions immediately,” Lummis wrote.
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The comments were part of a speech on Friday titled “Charting a New Course.” Did the FDIC Just Confess to Crypto Debanking? Federal Depositary Insurance Corporation (FDIC) Vice Chairman Travis Hill delivered a speech on Friday condemning the agency’s “Choke Point-like tactics” and urging the organization to take “a new approach to digital assets.” Hill’s […]
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Trump’s team is asking whether the president-elect could nix financial industry regulators or combine them together, according to a Wall Street Journal report.
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A US federal judge has ordered the FDIC to redo and resubmit redactions it made to crypto “pause letters” it sent to financial institutions.
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