US Fed CIO says it’s ‘hard to justify’ hiring human coders over AI
[Jun 27 11:00 AM] The Federal Reserve’s leadership seemingly views generative AI as a “super analyst” capable of turbocharging the agency’s work process.
2 / 8 Relevant items tagged with #Banking
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Federal Watchdogs Flag 4 Major US Banks for Lack of Crisis Management; Demand Living Will Revisions
Singapore flags digital payment tokens as high-risk in AML landscape
[Jun 20 5:13 AM] Singapore said digital payment token service providers, also known as virtual asset service providers, stand out as a high-risk category within the financial sector.
Stablecoin act gives Congress alternative to overriding Biden’s SAB 121 veto
[Jun 12 7:30 AM] President Joe Biden’s veto of the SAB 121 repeal was a blow for the crypto community. Can the U.S. Congress override the veto with broad bipartisan support?
Customers Bank Said to Debank Some Digital Asset Hedge Funds
[Jun 7 8:07 AM] The move is not a widespread debanking of hedge-fund clients, but rather the offboarding of inactive accounts, one person said.
Bitpanda Drafts Deutsche Bank to Process Fiat Transactions in Germany
[Jun 4 2:05 AM] This is Bitpanda's second major partnership in Germany this year after the broker was enlisted by LBBW to offer crypto custody services in the country.
Fold Adds New Feature And Team Member To Better Bank Bitcoiners
[Jun 3 8:01 AM] Fold recently released its Direct to Bitcoin feature as part of a set of features that the team at Fold calls its Bitcoin Checking Account. Fold Users can now auto-convert anywhere from 1% to 100% of their fiat deposits to bitcoin from a checking…
Nigeria seeks crypto clarity one year into Tinubu’s tenure
[Jun 2 3:33 AM] Nigeria's young resident population now feels more bewilderment due to the administration’s recent actions against Nigeria’s crypto industry.
Fold Will Be Your Bitcoin Bank With CEO Will Reeves
[May 29 7:41 AM] Founders: Will Reeves and Matt LuongoDate Founded: 2014; Most recent iteration of company: 2019Location of Headquarters: RemoteAmount of Bitcoin Held in Treasury: “Stacking since the founding of Fold”Number of Employees: 22Website…
Anti-crypto FDIC chair Martin Gruenberg to step down — ‘best day ever’
[May 20 9:12 PM] Martin Gruenberg has faced criticism from Republicans and Democrats alike after an independent investigation revealed a range of workplace issues at the FDIC.
US Senate passes resolution overturning SEC crypto rule on banks
[May 16 11:50 AM] U.S. President Joe Biden said he intended to veto the joint resolution aimed at overturning an SEC rule requiring banks to keep customers’ digital assets on its balance sheets.
SEC doesn’t want Ethereum to transform banking landscape, says Joseph Lubin
[May 9 8:22 AM] Ethereum co-founder Joseph Lubin says the SEC is engaging in strategic enforcement action instead of meaningful discourse with the cryptocurrency industry.
Mastercard joins forces with US banking titans for tokenized settlement trials
[May 8 6:37 AM] The partnership between significant banking giants in the U.S. and Mastercard aims to streamline multiple asset-class settlements on a shared ledger platform.
Custodia Bank takes case to higher court after March setback
[Apr 26 1:13 PM] Custodia Bank is challenging a lower court’s ruling in its battle for a Federal Reserve master account.
Floki Developers Plan Regulated Bank Accounts in Next Value Capture for Tokens
[Mar 22 7:13 AM] SWIFT payments and SEPA IBANs will be supported – allowing users to transact and transfer money globally.
Crypto Wallet SafePal Ventures Into Banking With New USDC Visa Card
[Mar 7 6:39 AM] Users can create individually owned and compliant bank accounts and use USDC stablecoins as the default deposit currency.
Revolut to Introduce Crypto Exchange Targeting 'Advanced Traders'
[Feb 16 9:43 AM] Digital bank Revolut is set to release a cryptocurrency exchange targeting "advanced traders," according to an email sent to customers that was seen by CoinDesk.
New York Community Bancorp Shares Tumble After Earnings Miss, 71% Dividend Cut
[Jan 31 9:30 AM] The bank took over defunct Signature Bank's non crypto-related deposits last year.
Santander appoints crypto custodian Taurus to safeguard Bitcoin, Ether: Report
[Nov 29, 2023 7:17 AM] An unconfirmed report suggests Taurus will provide crypto custodial services to Spanish financial services giant Banco Santander.
Crypto Firms That Act Like Banks Should Be Regulated Like Them, ECB Official Says
[Nov 29, 2023 5:54 AM] But supervision of bank-like crypto firms could be a pain for regulators, said Andrea Enria, chair of the supervisory board at the European Central Bank.
Artificial Intelligence Technology Brings Benefits, Risks to Banking: Bank of America
[Nov 21, 2023 5:01 AM] AI has the potential to improve productivity and enhance bank returns, the report said.
Centralized Provider Problem Causes Nationwide Digital Payment Meltdown in Spain: Users Turn to Crypto and Cash
[Nov 21, 2023 4:30 AM] A problem with Redsys, a third-party platform used in all of Spain, caused a meltdown for almost all of the digital payment options in the country, leaving citizens without means of payment for hours. The incident left stores without the…
Canadian Regulator Seeks Feedback on Disclosure Rules for Bank Crypto Exposures
[Nov 21, 2023 3:19 AM] The country hopes to align local requirements with those proposed by international banking regulators.
Canadian regulator seeks feedback on crypto asset exposure disclosure requirements
[Nov 20, 2023 2:30 PM] The Canadian Office of the Superintendent of Financial Institutions is following a Basel model for its disclosure requirements.
Santander offers Bitcoin, ETH trading for Swiss account holders: Report
[Nov 20, 2023 5:36 AM] High-net-worth individuals of Santander Private Banking International will have access to trade BTC and ETH, according to a report claiming access to a leaked internal communication.
Hashing It Out: How Web3 is causing an evolution of traditional finance
[Nov 16, 2023 7:20 AM] Sarah Clark, the CEO of E-Gates, believes that traditional finance needs to adopt features of decentralized finance as part of an evolution instead of seeing it as a revolution.
Fiat on-ramps, banking partners crucial for institutional Web3 adoption - European Blockchain Convention
[Nov 7, 2023 2:41 AM] Prominent fiat payment rail services and neobanking platforms are becoming a catalyst to address institutional mistrust in the cryptocurrency sector.
TradFi gets crypto boost: Renegade joins Cointelegraph Accelerator
[Nov 2, 2023 4:00 AM] Cointelegraph Accelerator welcomes Web3-friendly fintech platform Renegade to its program.
‘AI’ takes Collins dictionary word of the year, ‘debanking’ makes shortlist
[Nov 1, 2023 3:07 AM] The Collins dictionary named ‘AI’ word of the year, describing AI-powered language models as “bursting into the public consciousness” and “much talked about” in 2023.
Inspector General wants FDIC to refine crypto risk assessment process, guidance
[Oct 18, 2023 3:10 PM] The bank deposit insurer should assess the sufficiency of its risk mitigation measures and then provide them in a more organized manner, the inspector general found.