FBI Warns of Growing $55 Billion Business Email Scam
The Federal Bureau of Investigation (FBI) has warned of a rising business email compromise (BEC) threat, responsible for $55 billion in global losses over a decade. The scam has affected…
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Brazil’s Nubank Suspends Trading of its Cryptocurrency Nucoin
Fintech bank Nubank has announced the suspension of trading for its cryptocurrency, Nucoin. This comes against a backdrop of scrutiny over the bank’s financial stability. Nubank’s Policy Change In a…
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…
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…
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…
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…
Big Bank Crypto Move: Standard Chartered Subsidiary Seeks to Expand OTC Services
The investment bank’s crypto division, Zodia Markets Ltd., is discussing acquiring part of Elwood Capital Management Ltd. The firm is backed by billionaire hedge fund manager Alan Howard, and the…
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…
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…
Standard Chartered to Launch Bitcoin and Ether Trading Desk: Report
British multinational bank Standard Chartered is all set to roll out a trading desk for Bitcoin and Ether. The latest development makes it one of the first global banks to…