ABA comments on regulatory approach to cryptoasset exposure
The American Bankers Association on Friday submitted comments to the Basel Committee on Banking Supervision concerning prudential treatment of banks’ cryptoasset exposures.
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One in 10 community banks planning to launch crypto services
Insights from the 2022 Federal Reserve/CSBS survey of community banks.
Treasury seeking feedback on AML/CFT implications of digital assets
The Treasury Department is seeking public input regarding illicit finance and national security risks posed by digital assets.
Biden administration calls for more digital asset regulation
Federal regulators should “aggressively” pursue enforcement against illegal practices in digital asset markets and redouble efforts to monitor consumer complaints about bad actors, according to a series of interagency reports released today by the Treasury Department.
Trade groups back OCC: Some crypto actions within scope of traditional banking
Withdrawing OCC cryptocurrency interpretive letters won’t benefit consumers and investors or promote a safe and secure marketplace, ABA says.
ABA Data Bank: Crypto ad spending craters in summer
Spending on TV ads by cryptocurrency firms fell this summer amid a decline in bitcoin and other crypto prices.
FDIC alleges five crypto companies misled on deposit insurance
The FDIC today sent cease-and-desist letters to five companies that the agency alleges misled consumers into believing that cryptocurrency assets are covered by FDIC deposit insurance.
Fed issues guidance for banks seeking to leap into crypto
In a supervisory letter issued yesterday, the Federal Reserve said that Fed-supervised banks seeking to engage in activities related to cryptocurrency and other digital assets must first assess whether such activities are legally permissible and determine whether any regulatory filings are required.
ABA urges regulatory clarity, parity for developing digital assets
Oversight and supervision should be applied to banks and nonbanks engaged in digital asset activities alike to ensure all customers are protected equally.
FDIC releases advisory, fact sheet on deposit insurance and crypto
The FDIC issued an advisory to banks today regarding what it says are misrepresentations by some cryptocurrency companies that their products are eligible for FDIC deposit insurance coverage or that customers are FDIC-insured if the crypto company fails.