French lender Societe Generale’s unit SG-FORGE launched its euro-backed stablecoin, EUR CoinVertible (EURCV), on the Stellar blockchain, expanding its multichain strategy and reinforcing compliance with the EU’s Markets in Crypto-Assets (MiCA) regulation. The move aims to provide businesses and financial institutions with a secure, transparent, and scalable digital euro option, leveraging Stellar’s blockchain infrastructure for […]
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The European Central Bank (ECB) is working to establish a blockchain-based payment system that will allow financial institutions to settle transactions using central bank money, Bloomberg News reported on Feb. 20. ECB executive board member Piero Cipollone said the project is a step toward improving financial market efficiency through innovation. Phased approach The project will […]
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The Bank of New York Mellon (BNY Mellon) disclosed holdings of more than $13 million in Bitcoin exchange-traded funds (ETFs) at the end of the fourth quarter, marking another sign of traditional financial institutions increasing their exposure to digital assets. According to a newly filed disclosure with the SEC, BNY Mellon owns 115,108 shares of […]
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State Street and Citi are considering offering crypto custody services. According to a report from The Information, the banks aim to provide safekeeping solutions to institutional investors, traders, and large funds. A bank executive told the report that State Street plans to roll out crypto custody services next year. The institution is one of the […]
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Tether has refuted claims made by JPMorgan analysts regarding its Bitcoin reserves and ability to comply with upcoming US stablecoin regulations. In a Feb. 13 statement to CryptoSlate, the stablecoin issuer confirmed that it is closely monitoring developments around US stablecoin regulations while actively engaging with local regulators. Tether acknowledged ongoing discussions surrounding the proposed […]
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In its recent 13F form, JPMorgan reported $1 million in crypto exposure through exchange-traded funds (ETF) as of Dec. 31. This is nearly 69% more than the $595,326 it reported at th end of the third quarter of 2024. According to the filing with the US Securities and Exchange Commission (SEC), JPMorgan’s exposure to Bitcoin […]
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The Federal Reserve (Fed) chairman, Jerome Powell, said that the central bank regulator does not want to prevent banks from serving crypto to perfectly legal customers as long as they understand its risks. During a Feb. 12 House committee on monetary policy, Powell said banks and the Fed should be “mindful” that crypto activities can […]
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Bank of England Governor Andrew Bailey expressed skepticism about the role of central bank digital currencies (CBDCs) in financial stability, emphasizing that central banks must maintain control over monetary transmission through the banking system. Speaking at the University of Chicago Booth School of Business in London on Feb. 11, Bailey reinforced that while financial markets […]
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Federal Reserve Chair Jerome Powell confirmed that the US will never have a central bank digital currency (CBDC) while he leads the central bank. Powell made the statement on Feb. 11 while speaking at the “Semiannual Monetary Policy Report to Congress.” His comments were in response to Senator Bernie Moreno’s concerns that the US could “look […]
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The European Central Bank (ECB) has introduced a regulatory framework allowing non-bank payment service providers (NB-PSPs) to access Eurosystem central bank payment systems. This move marks a shift in the region’s payments ecosystem. It enables payment institutions and e-money firms like stablecoin issuers to connect directly to key infrastructures such as SEPA and TIPS without […]
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The MetaMask creator survived by having redundant backup accounts, said Lubin, who was also personally targeted.
Federal Reserve Chair Jerome Powell stated that banks are free to serve with crypto, provided they effectively manage the associated risks. During his speech following the Federal Open Market Committee (FOMC) meeting, Powell added: “The threshold has been a little higher for banks engaging in crypto activities, and that’s because they’re so new.” Despite this […]
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"The threshold has been a little higher for banks engaging in crypto activities and that's because they're so new," Powell said.
The House Committee on Oversight and Government Reform has issued a formal letter to multiple crypto firms and organizations, requesting evidence and accounts of instances where crypto firms and individuals have been systematically denied access to banking services. The letter was addressed to several entities, including the Blockchain Association, Uniswap Labs, Coinbase, Payward, AH Capital […]
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Taiwan’s Financial Supervisory Commission (FSC) has unveiled plans to allow banks to issue stablecoins as part of a comprehensive regulatory framework for virtual asset service providers (VASPs). The draft bill, expected in June, aims to establish stablecoins as a bridge between the New Taiwan dollar (TWD) and digital currencies, according to local media reports. The […]
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The House Oversight and the Senate Banking committees are probing accusations that U.S. regulators blocked crypto insiders from banking.
Morgan Stanley CEO Ted Pick said the lender is exploring how it can offer crypto services in the US and intends to engage with regulators once the review is complete. During an appearance on CNBC’s Squawk Box on Jan. 23, Pick said that Morgan Stanley’s equation is understanding how to act as crypto transactors while […]
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Switzerland’s state-owned financial giant, PostFinance AG, has launched an Ethereum (ETH) staking service — allowing users to earn rewards while strengthening blockchain security. The initiative is part of the bank’s ongoing expansion into digital assets. The program, unveiled on Jan. 16, lets customers stake as little as 0.1 ETH, with a 12-week mandatory lock-up period […]
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The Bank of England (BoE) and HM Treasury reported significant progress in the design phase of the digital pound, a proposed central bank digital currency (CBDC) that would complement traditional banknotes and enhance the UK’s payment infrastructure. The update highlighted efforts to align the initiative with the nation’s evolving payments landscape and broader economic goals. The […]
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Intesa Sanpaolo, Italy’s largest bank, has reportedly entered the Bitcoin market by acquiring €1 million worth of the leading digital asset. This translates to approximately 11 BTC, according to an internal email allegedly signed by Niccolo Bardoscia, the head of the bank’s digital asset trading and investment division. Although Intesa has yet to confirm the […]
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A proposed CFPB rule could allow crypto users to have protections similar to those of US bank account holders by considering the definition of “funds.”
Standard Chartered has obtained a license to provide crypto custody services in Luxembourg, according to a Jan. 9 statement. The approval falls under the Markets in Crypto-Assets (MiCA) framework, which provides a unified regulatory approach for crypto businesses across the European Union. MiCA requires companies to obtain a Crypto Asset Service Provider (CASP) license from […]
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Banco of Investimentos Globais (BiG), one of Portugal’s largest banks, started blocking fiat transfers to crypto platforms, according to a notification shared by Delphi Labs co-founder José Maria Macedo. The notification cited compliance with guidelines published by the European Central Bank (ECB), the European Banking Authority (EBA), and the Bank of Portugal about risks associated with […]
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Documents released on Dec. 6 show the Federal Deposit Insurance Corporation (FDIC) asked banks to pause crypto-related activities.
Hexarq, the cryptocurrency subsidiary of Groupe BPCE, has obtained regulatory approval from France’s Financial Markets Authority (AMF) to offer crypto services to its clients in 2025, the Big Whale reported on Dec. 20. The approval, known as PSAN registration, allows Hexarq to provide custody, buying, and selling services for digital assets under French law, paving […]
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Around 120 hedge funds engaged in crypto reported hurdles in accessing banking services over the three years, The Wall Street Journal reported on Dec. 20. The number represents roughly 75% of 160 hedge funds recently surveyed by the Alternative Investment Management Association (AIMA). The survey highlighted that none of the 20 alternative investors in other asset […]
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The acquisition brings Metal blockchain solutions to Bonifii’s portfolio of credit unions.
The Bank for International Settlements (BIS) has unveiled a comprehensive framework for designing retail central bank digital currencies (CBDCs), emphasizing a hybrid model that integrates central bank control with private sector collaboration. Developed by the Consultative Group on Innovation and the Digital Economy (CGIDE), the report provides a roadmap for central banks in the Americas […]
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Deutsche Bank is building a layer-2 blockchain based on Ethereum to solve the regulatory hurdles financial institutions face using public blockchains, Bloomberg News reported on Dec. 17. The platform, dubbed Project Dama 2, represents the German banking giant’s attempt to harness blockchain technology’s potential while minimizing risks associated with public ledgers, which can often inadvertently transact […]
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The Revolut Pay enhanced due diligence API will be rolled out to crypto customers from start of 2025.