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The proposed rule change, putting crypto at one of the highest risk ratings at financial institutions, could go into effect until December 2024. Go to Source Powered by WPeMatico
Over 72% of Silvergate Capital Corp stocks were shorted as of Jan. 31, shows FINRA’s latest data. Go to Source Powered by WPeMatico
On Feb. 9, 2023, the cryptocurrency community learned of the U.S. Securities and Exchange Commission’s (SEC) crackdown on staking services. The SEC fined Kraken, a cryptocurrency exchange, $30 million for offering an “unregistered offering” related to its U.S. staking service. Digital currency advocates are now debating what constitutes a yield product versus a noncustodial solution … Read more
Banks are allegedly being discouraged from offering services to the crypto industry by United States authorities. Go to Source Powered by WPeMatico
DekaBank’s partnership with Metaco is not about cryptocurrencies like Bitcoin but the tokenization of bonds and stocks. Go to Source Powered by WPeMatico
Russian banks may be the main losers from the introduction of a digital ruble while retailers will save on acquiring fees, analysts have predicted. The benefits for consumers using the new digital currency are not that obvious as they may not be paid any interest or cashback. Launch of Russia’s Digital Ruble Said to Result … Read more
Silvergate reportedly cited restrictions on disclosing “confidential supervisory information” related to the collapse of FTX in response to a similar December 2022 letter. Go to Source Powered by WPeMatico
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 … Read more
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
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
