Silvergate closes Exchange Network, releases $9.9M to BlockFi
[Mar 4, 2023 10:02 AM] The bank is discontinuing its crypto payment network, claiming the termination is a risk-based decision.
12 / 14 Relevant items tagged with #Banks
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UK banks HSBC, Nationwide to ban crypto purchases with credit cards: Report
[Mar 2, 2023 3:55 PM] The banks join a growing list of financial institutions in the country tightening restrictions on digital assets.
Russian bank issues first on-chain bank guarantee in Chinese yuan
[Mar 2, 2023 3:00 PM] The transaction was performed through the Masterchain blockchain platform, which is the Russian national blockchain network.
HSBC, Nationwide Banks Crack Down On Bitcoin And Crypto Access
[Mar 2, 2023 1:45 PM] Two of the U.K.’s largest banks have imposed further restrictions on their customers’ ability to acquire cryptocurrencies.British banks have continued to crack down on their customers' cryptocurrency purchases. According to a Bloomberg report…
UK banking regulator to propose crypto issuing, holding rules after Basel 3 finalized
[Feb 27, 2023 3:30 PM] The Bank of England Prudential Regulatory Authority will facilitate international economic growth under the Financial Services and Markets bill now in Parliament.
Crypto Exchanges Allow Russians to Circumvent Sanctions, Report Alleges
[Feb 25, 2023 11:00 PM] Major crypto exchanges have failed to prevent sanctioned Russian banks and traders from transacting, according to a blockchain forensics report. At least two established coin trading platforms continue to allow Russians to use their bank cards in…
US agencies recommend old risk management principles for crypto liquidity
[Feb 25, 2023 4:00 AM] The joint statement highlighted the key liquidity risks associated with crypto-assets and related participants for banking organizations.
FDIC-insured Citizens Trust Bank to hold $65M in USDC reserves
[Feb 24, 2023 12:00 PM] The Atlanta, Georgia-based bank joined the Federal Reserve System in 1947 and is classified as a minority-owned depository institution.
Bank of Russia to Start Testing Digital Ruble With Real Users on April 1
[Feb 19, 2023 11:30 PM] The Central Bank of Russia plans to launch test operations with digital ruble transactions between real customers at the beginning of April. More than a dozen banks will join the upcoming stage of the pilot project, a high-ranking representative of…
MakerDAO voting on $100M loan participation with Florida commercial bank
[Feb 17, 2023 3:50 PM] Florida's Cogent Bank is proposing a $100 million participation in loans to MakerDAO's RWA Master Participation Trust.
Industrial Giant Siemens Issues €60 Million Digital Bond on Blockchain
[Feb 15, 2023 11:00 PM] German conglomerate Siemens has for the first time issued a blockchain-based digital bond denominated in euros. In an announcement, the corporation highlighted the benefits of using blockchain, including the opportunity for direct sale to…
Proposed EU parliament rule could have banks apply 1,250% risk weight to crypto exposure
[Feb 13, 2023 10:15 AM] The proposed rule change, putting crypto at one of the highest risk ratings at financial institutions, could go into effect until December 2024.
Crypto bank Silvergate ranks as the second most-shorted stock on Wall Street
[Feb 12, 2023 1:28 PM] Over 72% of Silvergate Capital Corp stocks were shorted as of Jan. 31, shows FINRA's latest data.
‘Midnight Massacre:’ SEC Crackdown on Crypto Staking Services Prompts Speculation of Further Enforcement Actions
Banks under pressure from U.S. authorities to cut ties with crypto firms
[Feb 9, 2023 2:00 PM] United States authorities are allegedly discouraging banks from offering services to the crypto industry.
German DekaBank plans to launch tokenization platform by 2024
[Feb 9, 2023 7:00 AM] DekaBank’s partnership with Metaco is not about cryptocurrencies like Bitcoin but the tokenization of bonds and stocks.
Banks in Russia to Lose $700 Million a Year Due to Digital Ruble, Experts Say
[Feb 3, 2023 2:00 AM] Russian banks may be the main losers from the introduction of a digital ruble while retailers will save on acquiring fees, analysts have predicted. The benefits for consumers using the new digital currency are not that obvious as they may not be…
LevelField Financial To Become First FDIC-Insured Bank to Offer Traditional Banking And Bitcoin Services
[Feb 1, 2023 1:28 PM] LevelField Financial is set to acquire Burling Bank in a move that would enable access to bitcoin for traditional banking customers.Once the acquisition is approved by regulatory authorities, LevelField Financial will be able to expand its services…
US lawmakers renew request for answers from Silvergate on FTX: Report
[Jan 31, 2023 10:03 AM] Silvergate reportedly cited restrictions on disclosing “confidential supervisory information” related to the collapse of FTX in response to a similar December 2022 letter.
Crypto Bank Custodia Denied Membership in US Federal Reserve System
[Jan 29, 2023 5:30 AM] The U.S. Federal Reserve Board has rejected the attempt of Custodia Bank to become member of the Federal Reserve System. According to the decision announced Friday, the application submitted by the digital asset bank is inconsistent with legal…
Fed denies Custodia Bank application to join the Federal Reserve System
[Jan 27, 2023 11:02 AM] The bank applied for the application in 2019 and sued the Fed in an attempt to speed up the decision.
‘Prohibitive’ Capital Rules for Banks Holding Crypto Win Support in EU Parliament
[Jan 26, 2023 2:30 AM] Lawmakers in the European Union have backed legislation imposing new capital requirements for financial institutions, including strict rules meant to cover crypto-related risks. The latter concern banks keeping digital assets and are expected to…
EU Lawmakers Vote To Impose Strict Capital Requirements On Banks Holding Bitcoin And Crypto
[Jan 24, 2023 10:38 AM] Banks would be allowed to hold 2% of capital in bitcoin, but required to have one euro in capital for every euro in cryptocurrency held.European Union lawmakers have voted to impose strict capital requirements on banks that hold cryptocurrencies…
China-backed Blockchain Project Proposes SWIFT Alternative for Stablecoins and CBDCs
[Jan 23, 2023 3:30 AM] The company developing China’s blockchain network wants to create a system for international settlements with stablecoins and state-issued digital currencies. The plan is to establish a platform facilitating the use of these two fiat-based…
U.S. home-loan banks lent billions of dollars to crypto banks: Report
[Jan 21, 2023 11:37 AM] Signature Bank and Silvergate reportedly borrowed over $13 billion from the federal home loan system.
FTX-linked Moonstone bank to exit the crypto space
[Jan 19, 2023 4:25 PM] Following the collapse of FTX, the company has decided to rebrand and exit the crypto space.
Japanese regulators want crypto treated like traditional banks
[Jan 16, 2023 11:07 PM] Mamoru Yanase said crypto needs the same safeguards as financial institutions and banks.
Bank of Thailand to allow first virtual banks by 2025
[Jan 15, 2023 2:32 PM] By allowing virtual banks, Thailand seeks to boost competition and economic growth.
New York-based bank exits crypto after tumultuous year
[Jan 9, 2023 7:55 AM] The Metropolitan Bank Holding Corp, the holding company for Metropolitan Commercial Bank, says it’s completely exiting its crypto-asset-related vertical.
German regulator warns of new banking and crypto malware ‘Godfather’
[Jan 9, 2023 7:42 AM] The “Godfather” malware is also known to target 110 cryptocurrency exchange platforms and 94 cryptocurrency wallet apps.