Federal Reserve Board – DIGIT INFO

SEC, Fed Charge Silvergate for Misleading Investors, Failing to Monitor $1 Trillion in Transactions

DIGIT — Wed, 03 Jul 2024 00:36:52 +0000

The U.S. Securities and Exchange Commission (SEC), the Federal Reserve Board (FRB), and the California Department of Financial Protection and Innovation (DFPI) have taken action against Silvergate Capital Corp., the holding company for Silvergate Bank, and its former executives for misleading investors and failing to monitor significant transactions. Silvergate has agreed to pay penalties without […]

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US Fed steps up oversight of banks’ involvement with crypto firms

DIGIT — Tue, 08 Aug 2023 23:11:00 +0000

The limitations set out in the Federal Reserve’s new Program provides additional measures to its original policy statement laid out in January.

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‘How did this happen’ — Powell says Fed stumped over the collapse of SVB

DIGIT — Thu, 23 Mar 2023 03:54:58 +0000

In a post-FOMC meeting on March 22, the chairman of the Federal Reserve said his “only interest is that we identify what went wrong here.”

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Crypto Bank Custodia Denied Membership in US Federal Reserve System

DIGIT — Sun, 29 Jan 2023 11:30:45 +0000

The U.S. Federal Reserve Board has rejected the attempt of Custodia Bank to become member of the Federal Reserve System. According to the decision announced Friday, the application submitted by the digital asset bank is inconsistent with legal requirements. Federal Reserve Board Says Business Model Proposed by Custodia Bank Presents Risks Crypto bank Custodia has […]

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US Federal Reserve Board Issues Policy Statement That Limits Banks’ Crypto Related Activities

DIGIT — Sat, 28 Jan 2023 19:30:45 +0000

The United States Federal Reserve Board said on Jan. 27 that both insured and uninsured banks will be subjected to limits on certain activities including those that are associated with crypto assets. The board’s latest action does not preclude a state member bank or prospective applicant from providing crypto-assets safekeeping services. Limiting Regulatory Arbitrage The […]

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US Federal Reserve Board Unveils Final Guidelines Used When Reviewing Requests for Access to Master Accounts

DIGIT — Thu, 18 Aug 2022 07:00:16 +0000

The U.S. Federal Reserve Board has said it has released the final guidelines which are set to be used by Reserve Banks when “reviewing requests to access Federal Reserve accounts and payment services.” According to the board, the final guidelines will become effective as soon as they are published in the Federal Register. New Guidelines […]

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Fed Board, FDIC Order Voyager Digital to Retract Federal Deposit Insurance Claims

DIGIT — Fri, 29 Jul 2022 14:00:37 +0000

Following Voyager Digital’s application for bankruptcy protection during the first week of July, Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board today issued a joint letter to the company demanding a cease and desist against Voyager’s FDIC claims. The FDIC’s letter explains that Voyager’s FDIC claims are false and misleading, and the entity […]

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