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.
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.
The pace of innovation in crypto is exciting and industry growth is an opportunity for banks but regulation is needed, OCC head says.
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.
With the pandemic and other factors triggering growth in — and new dimensions of — “money mule” scams, how what should bankers watch out for?
Customers accessing digital-asset markets, including stablecoins, are best served when they can do so through fully regulated banks, ABA tells Senate Banking Committee.
Ahead of a House Financial Services Committee hearing on digital assets today—at which the heads of several cryptocurrency firms will testify—the American Bankers Association submitted a statement for the record emphasizing the need for bank-like regulations for companies offering digital assets to consumers.
In an interpretive letter issued today, the OCC confirmed that national banks and federal savings…
Banks can expect additional guidance from regulators over the next year clarifying the types of crypto-related activities they may be permitted to engage in, the agencies announced in a joint statement today. As a result of a recent “crypto sprint,” the FDIC, Federal Reserve and OCC unveiled a crypto-asset roadmap that will guide their work in 2022.
Challenging a recent report from the President’s Working Group on Financial Markets, Federal Reserve Governor…