Tag: banking

Acting OCC chief has begun a staff review of crypto-related actions

Acting OCC chief has begun a staff review of crypto-related actions

Under former comptroller Brian Brooks, the Office of the Comptroller of the Currency (OCC) made considerable strides related to cryptocurrency regulation. Now, Acting Comptroller of the Currency Michael Hsu is requesting a staff review of those actions. “My broader concern is that these initiatives were not done in full coordination with all stakeholders,” said Hsu […]

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The FDIC wants to know more about use cases for crypto at US banks

The FDIC wants to know more about use cases for crypto at US banks

The Federal Deposit Insurance Corporation (FDIC) put out a request for public feedback on depository institutions holding digital assets on May 17.  The FDIC insures bank deposits in the United States — insurance that is a requisite for depository institutions to operate in the country. Today’s announcement is a call for “current and potential digital […]

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Fed to Keep Rates Near Zero, Treasury Purchases to Continue, Powell Expects ‘Transitory’ Inflation

In a policy meeting on Wednesday, the U.S. Federal Reserve told the public that monetary easing will continue and the benchmark interest rate will be kept near zero. Just like previous statements from Federal Open Market Committee (FOMC) members, the committee within the central bank is not concerned about inflation and says that it should […]

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America’s Fifth-Largest Banking Institution US Bank to Offer Cryptocurrency Custody

On April 27, the American bank holding company U.S. Bank revealed in a blog post that the financial institution plans to offer cryptocurrency custody services. The bank’s chief strategy officer for U.S. Bank Global Fund Services, Christine Waldron, says she is proud of her company’s steps toward blockchain and cryptocurrency practices. US Bank to Offer […]

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US Bank will launch crypto custody, pending compliance tests

Per an April 27 blog post, U.S. Bank is finalizing cryptocurrency custody services. The actual announcement says that the new services are contingent upon the selection of a sub-custodian to contract under U.S. Bank. Christine Waldron, Chief Global Strategy Officer for Global Fund Services at U.S. Bank, told The Block “We have made the selection. […]

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The Global Economy Comes Before Savers: ECB President Christine Lagarde Defends Negative Interest Rates

The European Central Bank President Christine Lagarde is keeping the central bank’s monetary easing policies unchanged according to her statements from a press conference last Thursday. Moreover, the central bank’s Twitter account recently shared a video of Lagarde defending negative interest rates, as the bank’s President stresses that they “support companies and people in the […]

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JPMorgan Boss Says ‘Emerging Issues’ Like Cryptocurrencies ‘Need to Be Dealt With Quickly’

JPMorgan’s boss Jamie Dimon has a bone to pick with cryptocurrencies, shadow banking, and the financial technology (fintech) economy. In a letter to JPMorgan shareholders, Dimon explained that banks are “playing an increasingly smaller role in the financial system” and there’s a list of items like digital currencies he’s named that needs to be “dealt […]

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BIS leader says central bank digital currencies could resolve ‘long-standing’ payments issues

Agustín Carstens, the general manager of the Bank for International Settlements, recently took the stage to promote central bank digital currency over other payments solutions.  Speaking virtually before the Peterson Institute for International Economics on March 31, Carstens broke down the various solutions available for bringing international payments up to speed with the modern era. […]

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Bitcoin is drawing in the banking world’s core customers, Fidelity exec says

Fidelity Digital Assets — the cryptocurrency division of multi-trillion asset manager Fidelity — is among the several firms riding the institutional bitcoin wave.  FDA, which launched amid a bitcoin bear market in 2018, offers trading and custody services to a wide range of institutional firms. On this episode of The Scoop, Fidelity’s Christine Sandler — […]

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JP Morgan adds crypto-friendly Signature Bank to its focus list

JP Morgan, the financial services giant that has prominent crypto clients such as Coinbase and Gemini, has put Signature Bank on its focus list.  A focus list involves which stocks the firm’s research department proposes as most promising. JP Morgan’s move to include Signature Bank suggests the bank can “ride the crypto wave,” JP Morgan […]

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