Auto Added by WPeMatico

US Fed Issued Cease and Desist Order Against Crypto-Friendly United Texas Bank

The U.S. Federal Reserve has issued a cease-and-desist order against United Texas Bank (UTB), one of the few remaining American financial institutions still catering to crypto companies. The central bank…

Continue ReadingUS Fed Issued Cease and Desist Order Against Crypto-Friendly United Texas Bank

US Banking Regulator Calls for Stronger Oversight of Crypto Risks

Acting Comptroller Michael Hsu has emphasized the importance of proactive oversight in managing crypto risks. He cited the 2022 crypto market collapse, with a $2 trillion loss, where effective supervision…

Continue ReadingUS Banking Regulator Calls for Stronger Oversight of Crypto Risks

Bank of England Pushes for Swift Digital Payment Solutions as Cash Usage Drops

The Bank of England (BOE) is urging UK banks to expedite their digital payment solutions as cash use declines. The BOE’s recent paper highlights the need for innovations that allow…

Continue ReadingBank of England Pushes for Swift Digital Payment Solutions as Cash Usage Drops

DBS Digital Exchange Sees 3-Fold Surge in Trading Value — Custodied Crypto up 80%

DBS, a leading financial services group in Asia, reports a significant increase in the trading value of digital payment tokens on its digital exchange for the first five months of…

Continue ReadingDBS Digital Exchange Sees 3-Fold Surge in Trading Value — Custodied Crypto up 80%

Bahamas to Mandate Banks to Distribute Central Bank Digital Currency

The Bahamas, the first country to issue a central bank digital currency (CBDC) called the Sand Dollar, is preparing regulations to mandate commercial banks to provide access to the e-money…

Continue ReadingBahamas to Mandate Banks to Distribute Central Bank Digital Currency

Federal Reserve Stress Test Projects $685 Billion in Losses for Large Banks

The Federal Reserve Board’s annual stress test results reveal that large banks are expected to face nearly $685 billion in projected losses during a severe recession scenario. These losses are…

Continue ReadingFederal Reserve Stress Test Projects $685 Billion in Losses for Large Banks

JPMorgan Chase Captures 18% of US Bank Profits, Highlighting Growing Market Dominance

A report has found that JPMorgan Chase Bank accounted for a substantial 18% share, or $11.7 billion, of the total $64.2 billion net income reported by all FDIC-insured banks for…

Continue ReadingJPMorgan Chase Captures 18% of US Bank Profits, Highlighting Growing Market Dominance