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According to the House Financial Services Committee, it expects to hold multiple hearings on “getting to the bottom” of the banks’ failures. Go to Source Powered by WPeMatico
Members of the European Parliament have been discussing the impact of the failure of Silicon Valley Bank, Signature Bank, and Silvergate Bank on markets in its jurisdictions. Go to Source Powered by WPeMatico
An international operation has taken down Chipmixer, a cryptocurrency mixing service that allegedly laundered more than $3 billion worth of cryptocurrency, according to the U.S. Department of Justice (DOJ). The operation involved national authorities in the U.S., Germany, Belgium, Poland, and Switzerland — with Europol’s support. International Operation Takes Down Chipmixer The U.S. Department of … Read more
U.S. Senator Elizabeth Warren alleges that Signature Bank failed because it “bought into its get-rich-quick narrative” and “embraced crypto customers with insufficient safeguards.” Emphasizing that the bank took “excessive risk,” the senator demanded answers from the CEO of Signature Bank regarding “the economically disastrous outcomes you created.” Senator Elizabeth Warren’s Letter to Signature Bank’s CEO … Read more
Senator Michael Bennet said crypto was not “even as stable as the marijuana industry,” questioning Signature Bank’s ability to service digital asset firms but not dispensaries. Go to Source Powered by WPeMatico
The association submitted Freedom of Information Act requests as part of an investigation into how regulators’ actions “improperly contributed” to the collapse of three banks. Go to Source Powered by WPeMatico
Digital financial assets (DFAs) for a total exceeding $26 million have been issued in Russia in the past year. This new market has been developing since it was regulated in 2021 and the country’s monetary authority started licensing issuers in the following year. Volume of Digital Assets Increases in Russia as Investors Seek Alternatives to … Read more
The Supreme Court of Appeal (SCA) in South Africa has rejected former Monero lead maintainer Riccardo Spagni’s bid to have it declare his extradition from the United States to South Africa illegal. In its ruling, the Supreme Court of Appeal insisted that Spagni did not sufficiently argue for the voiding of the extradition process. Spagni … Read more
India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency of cross border transactions and further the economic ties between India … Read more
Jerome Powell called for a “thorough, transparent, and swift review” of the Federal Reserve’s supervision and regulatory activities following Silicon Valley Bank’s closure. Go to Source Powered by WPeMatico