Banks and Fintech | ForkLog

ForkLog 18 17.04.2025

Federal Reserve Considers Easing Cryptocurrency Restrictions for Banks

Regulators may “ease” requirements related to digital assets for financial institutions in the future, according to Jerome Powell, Chairman of the Federal Reserve. The official mentioned a “wave of failures and fraud” in the sector in recent years but noted the industry’s shift towards the “mainstream.” “We have taken a fairly conservative view. Other regulators […]

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ForkLog 31 29.03.2025

FDIC Permits Crypto-Related Activities Without Prior Approval

The Federal Deposit Insurance Corporation (FDIC) has allowed supervised financial institutions to engage in “crypto-related activities” without needing prior approval from the agency. The list of activities permitted by default includes providing custodian services, maintaining stablecoin reserves, issuing cryptocurrencies and other digital assets, market-making, participating in blockchain-based payment systems, and lending. Previously, those interested were […]

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ForkLog 14 19.03.2025

Fintech and Crypto Firms Eye Banking Licenses for Growth

Fintech and cryptocurrency firms are considering acquiring banking licenses to expand their businesses, reduce borrowing costs, and enhance legitimacy, according to Reuters. These companies are examining the conditions to meet both federal and state-level licensing requirements. The initiatives are driven by expectations of regulatory changes following Donald Trump’s victory in the U.S. presidential election. Previously, […]

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ForkLog 13 11.03.2025

Deutsche Börse’s Clearstream to Offer Bitcoin and Ethereum Custody Services

Clearstream, the post-trading division of Deutsche Börse, is set to offer institutional clients cryptocurrency settlement and custody services starting next month, according to Bloomberg. The company will begin with Bitcoin and Ethereum, leveraging the capabilities of its subsidiary Crypto Finance. Clearstream plans to later expand support to other cryptocurrencies and offer staking, lending, and brokerage […]

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ForkLog 19 11.03.2025

Trump to End Crypto Firms’ Banking Barriers, Reports Suggest

US President Donald Trump is set to sign an order aimed at removing barriers for crypto companies to access banking services, according to Decrypt, citing sources. In the community, the alleged plot by Joe Biden’s administration to debank industry players has been dubbed “Operation Chokepoint 2.0.” Bo Hines, Executive Director of the Digital Asset Markets […]

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ForkLog 21 10.03.2025

Global Banks and Fintech Firms Enter the ‘Stablecoin Race’

Some of the world’s largest banks and fintech companies are planning to launch their own stablecoins, aiming to capture a share of the cross-border payments market, according to FT. This segment is expected to see widespread adoption of “stablecoins.” In February, Bank of America expressed openness to launching a stablecoin, thus showing readiness to join […]

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ForkLog 21 21.02.2025

Fed Vice Chair Refutes Crypto Industry Debanking Allegations in the US

The Federal Reserve maintains a balanced approach regarding crypto companies’ access to banking services, according to Vice Chair Michael Barr, as reported by The Block. Barr stated that the central bank does not hinder this activity— the Fed provides institutions with clear guidelines and restrictions but does not obstruct the establishment and maintenance of relationships […]

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ForkLog 53 24.01.2025

SEC Lifts Ban on Banks Holding Cryptocurrencies

The U.S. Securities and Exchange Commission (SEC) has repealed SAB 121. The document effectively prohibited banks from holding digital assets. Bye, bye SAB 121! It’s not been fun: https://t.co/cIwUc0isUE | Staff Accounting Bulletin No. 122 — Hester Peirce (@HesterPeirce) January 23, 2025 “Bye-bye SAB 121! It’s not been fun,” commented Commissioner Hester Peirce. The decision […]

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ForkLog 20 23.01.2025

Goldman Sachs CEO Labels Bitcoin as ‘Still a Speculative Asset’

Digital gold does not threaten the dollar’s status as a reserve currency, remaining a speculative asset. This was stated by Goldman Sachs CEO David Solomon, according to The Block. The top executive noted that the institution continues to work with the underlying technology of Bitcoin to minimize “friction” in the financial system. However, from a […]

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ForkLog 12 20.01.2025

Coinbase Accuses FDIC of Concealing ‘Pause Letters’

The consulting firm History Associates reported that the FDIC failed to provide dozens of ‘pause letters’ requested during litigation initiated by the cryptocurrency exchange Coinbase, according to Cointelegraph. The FDIC issued ‘pause letters’ from March 2022 to May 2023, urging banks to temporarily halt crypto-related activities and requesting information, including cost analyses and marketing materials. […]

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ForkLog 16 17.01.2025

Cynthia Lummis accuses FDIC of hiding crypto-oversight documents

The Federal Deposit Insurance Corporation (FDIC) could face criminal prosecution if it did in fact destroy documents related to crypto oversight, according to a letter from Wyoming senator Cynthia Lummis. The FDIC is attempting to hide Operation Chokepoint 2.0 and the FDIC must preserve all documents related to digital assets immediately. Tim Scott and I […]

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ForkLog 38 14.01.2025

Intesa Sanpaolo, Italy’s largest bank, buys 11 BTC

On January 13, Intesa Sanpaolo bought 11 BTC for about €1m. The deal was the Italian lender’s first direct cryptocurrency transaction, reports Wired Italia. News of the purchase by the country’s largest bank emerged from leaked internal staff correspondence. According to journalists’ findings, Intesa Sanpaolo executed the trade at a bitcoin price in the €89,000–91,000 […]

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