In a letter to FDIC-insured banks, the agency requested that any institution considering engaging in crypto-related activities provide notification to the appropriate FDIC regional director.
New focuses and directions at the agencies are on the way, but a few themes have been clear and consistent.
The nation’s debt-to-GDP ratio should be a greater cause for concern for the nation’s policymakers than the current inflation situation, ABA President and CEO Rob Nichols told attendees at a local chamber of commerce meeting in Rhode Island.
Acting Comptroller of the Currency Michael Hsu today told attendees at ABA Risk 2022 that Russia’s invasion of Ukraine could trigger a recession.
The Financial Stability Board today outlined its work priority areas for 2022, including a timeline for the publication of a series of research reports on a range of financial stability topics.
Speaking at an industry event today, Elizabeth Rosenberg, assistant secretary for terrorist financing and financial crimes at the Treasury Department, lauded the financial industry’s quick response to implement a growing list of sanctions against Russia and individuals close to President Putin, in light of the recent invasion of Ukraine.
Acting Comptroller of the Currency Michael Hsu told the Financial Literacy and Education Commission that there is “an urgent need for improved crypto literacy and education.”
President Biden today signed a long-awaited executive order directing government agencies to take “concrete steps” to advance the use of digital assets, including further exploration of a possible U.S. central bank digital currency, or CBDC.
Speaking at the American Bankers Association Washington Summit today House Financial Services Committee Ranking Member Patrick McHenry (R-N.C.) outlined his legislative priorities with respect to innovation in financial services, which include defining stablecoins, defining digital assets and addressing the question of central bank digital currencies.
The House Financial Services Committee will increase its focus on cryptocurrencies, including stablecoins, in 2022, Committee Chairwoman Maxine Waters (D-Calif.) told attendees of the ABA Washington Summit today.