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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…
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…
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, 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…
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…
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…
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…
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…
The Salvadoran government has presented an initiative to accelerate the inclusion of Bitcoin and other cryptocurrencies in its investment banking sector. The banking law reform introduced to the National Assembly…
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…