FSB to Prioritize Transition to Post-Pandemic World, Digitalization, Climate Change
In a letter to G20 finance ministers and central banks governors today, the Basel, Switzerland-based Financial Stability Board outlined its priorities for 2022.
Browsing: Cryptocurrency
FSB: Crypto Assets Could be Threat to Global Financial Stability
The crypto-asset market could reach a point where it presents a threat to global financial stability, according to a new report released today by the Basel, Switzerland-based Financial Stability Board.
FTC: Romance Scam Losses Hit Record High in 2021
Romance scams are on the rise, with consumers losing $547 million to them in 2021 alone, according to new data published by the Federal Trade Commission today.
ABA Tells Congress Action Needed to Address Gaps in Stablecoin Regulation
In a statement for the record shared ahead of a House Financial Services subcommittee hearing on stablecoins today, the American Bankers Association agreed with a recent report from the President’s Working Group on Financial Markets that action is “urgently needed” to address gaps in regulation of the stablecoin market.
FDIC’s Gruenberg Flags Shift in Agency’s 2022 To-Do List
Following the departure of Jelena McWilliams from the FDIC, Acting Chairman Martin Gruenberg today outlined his agency’s shift in priorities for the year ahead.
Researchers Release Initial Findings from Boston Fed, MIT CBDC Research Project
The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology’s Digital Currency Initiative yesterday published a white paper detailing their work on the first phase of a project—called “Project Hamilton”—designed to explore the idea of a central bank digital currency.
Why ABA Invested in NYDIG: Supporting Banks as They Help Customers Access Cryptocurrency
As more customers engage with cryptocurrency, they are increasingly looking to banks to help them safely hold these assets. Banks are responding to this new customer demand.
Acting OCC Chief Advocates More Regulatory Structure for Cryptocurrency
The pace of innovation in crypto is exciting and industry growth is an opportunity for banks but regulation is needed, OCC head says.
U.S. Banks Form Consortium to Support Bank-Minted Stablecoin
Five FDIC-insured banks today announced the launch of the USDF Consortium, a group that was formed with the goal of building a network of banks to facilitate the adoption of USDF, a bank-minted stablecoin.
Podcast: From Crypto to Online Romance, How Money Mule Tactics Are Evolving
With the pandemic and other factors triggering growth in — and new dimensions of — “money mule” scams, how what should bankers watch out for?