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The U.S. Federal Reserve has taken decisive action against Customers Bank, highlighting significant compliance deficiencies in its digital asset strategy and instant payments network. The enforcement action mandates the bank to bolster its Anti-Money Laundering (AML) protocols and limit risks associated with its digital asset clients. This move underscores the increasing regulatory scrutiny on financial … Read more
The FDIC warns that uncertainty around crypto’s legal status, the likelihood of fraud and contagion present key risks to United States banks. Go to Source
Chainalysis policy lead Chengyi Ong warned crypto users may eventually have no choice but to deal with offshore unregulated exchanges. Go to Source Powered by WPeMatico
Hong Kong’s central bank reportedly asked major banks including HSBC, Standard Chartered and Bank of China why they aren’t accepting crypto exchanges as clients. Go to Source Powered by WPeMatico
The crypto advocacy group wants clarity on recent regulatory action against digital asset-friendly banks. Go to Source Powered by WPeMatico
Prominent members of the crypto community have expressed uncertainty after the loss of crypto friendly banks. Go to Source Powered by WPeMatico
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 … Read more
