FDIC Unveils Initial Stablecoin Regulations Under GENIUS Act
The U.S. Federal Deposit Insurance Corporation (FDIC) has released its first draft of rules governing the application process for issuing stablecoins.Federal Deposit Insurance Corporation, a U.S. government agency that insures bank deposits.
FDIC Unveils Initial Stablecoin Regulations Under GENIUS Act
The U.S. Federal Deposit Insurance Corporation (FDIC) has released its first draft of rules governing the application process for issuing stablecoins.
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. […]
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 […]
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 […]
Media reports withdrawal of FDIC insurance for Binance.US deposits
Binance.US no longer provides FDIC insurance for deposits. The notice to clients was obtained by Decrypt.
FDIC sees risks to the banking system from cryptocurrencies
Crypto-asset related activity may present new and complex risks to the U.S. banking system that are difficult to fully assess. This conclusion is contained in the FDIC's annual risk review.
FDIC accuses OKCoin of misleading customers about deposit insurance
FDIC accused the OKCoin cryptocurrency exchange of misleading statements about deposit insurance.
FDIC cites cryptocurrencies as a factor in Signature Bank’s collapse
FDIC completed its investigation into the causes of Signature Bank's crypto-friendly collapse.
Robert F. Kennedy Jr., John F. Kennedy’s nephew, criticised the SEC for a ‘war on crypto’
Robert F. Kennedy Jr., nephew of the 35th US president John F. Kennedy, criticised the SEC and the FDIC for a 'war on crypto' that has sparked a banking crisis in the country.
FDIC targets Cross River Bank over ‘unsafe’ banking practices
FDIC demanded that the crypto-friendly Cross River Bank “self-correct” and address deficiencies related to its lending activities.
Reuters: Prospective owner of Signature Bank must relinquish its crypto business
The FDIC has asked banks interested in acquiring Silicon Valley Bank and Signature Bank to submit bids to participate in the auction by March 17.
FDIC chief expresses cautious optimism about the use of stablecoins in payments
Stablecoins as a means of payment deserve consideration; the FDIC is looking to gather more information for proper regulation of banks with respect to crypto assets. This was stated by the acting head of the agency, Martin Gruenberg.We use cookies to improve the quality of our service.
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