Banks and Fintech | ForkLog

ForkLog 25 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 43 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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ForkLog 31 19.12.2024

Binance.US Plans to Reinstate US Dollar Trading in 2025 Revamp

In early 2025, Binance.US plans to resume cryptocurrency trading paired with the US dollar, according to a statement from the platform cited by Decrypt. In June 2023, the exchange halted dollar deposits and advised clients to withdraw fiat funds. The changes were attributed to the stance of banking partners, who intended to block USD withdrawal […]

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ForkLog 75 19.12.2024

Ukrainian Financial Institutions Endorse P2P Transfer Restrictions

A memorandum imposing restrictions on outgoing transfers without documented sources of funds has been joined by 23 Ukrainian banks and two payment systems, according to a report from the Association of Ukrainian Banks (AUB). In addition to financial companies NovaPay and RozetkaPay, the signatories include: Ukreximbank; Ukrgasbank; KRISTALBANK; Globus Bank; MTB Bank; Radabank; Idea Bank; […]

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ForkLog 19 07.12.2024

FDIC Pressured Banks to Halt Crypto Activities, Coinbase Reveals

Coinbase disclosed FDIC letters urging banks to suspend cryptocurrency operations. The largest US crypto exchange accuses regulators of attempting to restrict the industry’s access to banking services, seeking details through the courts. Documents obtained by Coinbase indicate that in March 2022, the FDIC urged financial institutions to temporarily halt activities related to crypto assets. This […]

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ForkLog 15 23.10.2024

Saylor’s Bitcoin Bequest Criticized by Buterin

MicroStrategy founder Michael Saylor intends to leave his bitcoins to humanity after his death, following the example of Satoshi Nakamoto. “I am single, I have no children — someday I will be gone. Just as Satoshi left the universe 1 million BTC, I will leave civilization everything I have,” the bitcoin maximalist stated. The entrepreneur […]

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ForkLog 37 18.10.2024

Morgan Stanley’s Bitcoin ETF Investments Reach $272 Million

Morgan Stanley’s investments in spot bitcoin ETFs have surpassed $272 million, equivalent to 0.02% of the bank’s AUM of $1.2 trillion. The investment bank has observed significant client interest in these products following their approval by the SEC. Morgan Stanley made these exchange-traded products available in August this year. Total inflows into BTC-ETFs since trading […]

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ForkLog 14 15.10.2024

FinCEN Fines TD Bank $1 Billion for Facilitating Cryptocurrency Money Laundering

The Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department found that TD Bank failed to report suspicious cryptocurrency-related activities amounting to nearly $1 billion. According to the agency, over nine months, the bank processed transactions for a company identified in the plea agreement as Customer Group C. When opening the account, the firm […]

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ForkLog 24 01.10.2024

Bank of Russia to Scrutinise Cross-Border Bitcoin Transfers by Citizens

The Bank of Russia has mandated 19 financial institutions to examine cross-border transfers by resident individuals related to cryptocurrency purchases. This is outlined in the regulator’s approved inspection programme for late 2024 to early 2025. The regulator aims to assess the volume of digital currency transactions, particularly stablecoins, conducted by Russians abroad. From October to […]

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ForkLog 14 26.09.2024

US Authorities Allegedly Targeted Bitcoin-Friendly Silvergate Bank

Silvergate Bank might have continued its operations if not for the voluntary liquidation it was forced into under pressure from American regulators, according to Castle Island Ventures partner Nic Carter. My latest in @PirateWires: Inside the Biden Admin’s Plot to Destroy Silvergate and Debank Crypto for Goodhttps://t.co/qGsSoi3aCG — nic carter (@nic__carter) September 25, 2024 “Silvergate […]

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ForkLog 62 25.09.2024

BNY Mellon to Expand Custodial Services to Spot Bitcoin ETFs

The Bank of New York Mellon, with AUM of $50 trillion, plans to enter the custodial services market for spot exchange-traded funds based on Bitcoin and Ethereum, representatives of the bank told Bloomberg. The agency noted that such a move could threaten Coinbase’s dominant position. The Bitcoin exchange serves as the custodian for most products, […]

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ForkLog 39 12.09.2024

Russia’s Central Bank Sets Timeline for Digital Ruble Access

By July 1, 2025, Russia’s largest banks are required to offer clients access to digital ruble operations, including account opening, funding, and transfers. The Central Bank of Russia has submitted the relevant proposals for legislative amendments to the Ministry of Finance. Other banks with a universal license have until July 1, 2026, to update their […]

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