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FDIC Chairman Martin Gruenberg Steps Down Following Toxic Workplace Culture Report
21.5.2024
FDIC Chair Martin Gruenberg to step down from his position following an investigation that exposed a toxic workplace culture at the bank regulator.
The post FDIC Chairman Martin Gruenberg Steps Down Following Toxic Workplace Culture Report appeared first on Cryptonews
Anti-crypto FDIC chair Martin Gruenberg to step down — ‘best day ever’
21.5.2024
Martin Gruenberg has faced criticism from Republicans and Democrats alike after an independent investigation revealed a range of workplace issues at the FDIC
Binance Aids Taiwan in Busting $6M Crypto Money Laundering Ring
18.5.2024
Binance’s Financial Crimes Compliance Department recently collaborated with Taiwan’s Ministry of Justice Investigation Bureau and the Taipei District Prosecutors Office on a significant cryptocurrency-assisted money laundering case involving nearly NT$200 million (approximately US$6...
Binance Aids Taiwan in Busting $6M Crypto Money Laundering Ring
18.5.2024
Binance’s Financial Crimes Compliance Department recently collaborated with Taiwan’s Ministry of Justice Investigation Bureau and the Taipei District Prosecutors Office on a significant cryptocurrency-assisted money laundering case involving nearly NT$200 million (approximately US$6...
Juno Addresses Banking Service Disruption — ‘This Is Outside Our Control’
17.5.2024
Juno Finance acknowledges the disruption in banking services and is collaborating with its brokerage and banking service providers, Synapse and Evolve Bank & Trust, to restore full service as soon as possible. Juno is a financial platform that integrates checking and savings accounts with...
Philadelphia’s Republic First Bank Closed by Regulators, Assets Assumed by Fulton Bank
27.4.2024
In the wake of a turbulent period for U.S. banks, the Pennsylvania Department of Banking and Securities has shut down Philadelphia-based Republic First Bank, also known as Republic Bank. The Federal Deposit Insurance Corporation (FDIC) has stepped in as receiver, with Fulton Bank assuming nearly...
Republic First Bank Fails, Triggers Minor Crypto Market Downturn Amid Banking Sector Concerns
27.4.2024
The United States witnessed its first banking failure of 2024 with the closure of Philadelphia-based Republic First Bank, creating ripples within the cryptocurrency community as Bitcoin, Ether, and various altcoins experienced slight price drops following the announcement. This event has spurred...
Republic First Bank closed by US regulators — crypto community reacts
27.4.2024
Republic First Bank's 32 branches across the United States will reportedly reopen under Fulton Bank starting next week
The Solution for Stablecoin Regulation
17.4.2024
FDIC Vice Chairman Takes Aim at Controversial SAB 121, Pushes for Regulatory Clarity
12.3.2024
Federal Deposit Insurance Corporation (FDIC) Vice Chairman Travis Hill criticized the United States Securities and Exchange Commission's (SEC) controversial SAB 121 while saying that the FDIC’s regulatory approach has “significant downsides" amidst larger discussions around the regulation...
FDIC’s Sign and Ad Rules Update May Impact Crypto Industry – Here’s How
21.12.2023
Source: AdobeStock / JHVEPhoto The Federal Deposit Insurance Corporation (FDIC) has recently implemented a new rule governing the use of its official signs and advertising, potentially influencing public perception of certain crypto firms. The FDIC announced on December 20 that its board...
Better Market CEO Points to Crypto Market Abuses as Reasons for FDIC Rule Amendment
21.12.2023
Source: Pixabay / tombark Better Market CEO lambasts frequent market abuses and false advertising strategies of digital asset firms as a major reason for the Federal Deposit Insurance Corporation’s (FDIC) rule change to protect investors. In a Dec 20 press release, the CEO reacted to the official...
US Congress Kicks Against SEC’s SAB 121 Rules in Latest Memo
16.11.2023
Source: AdobeStock The US Securities and Exchange Commission’s (SEC) latest release of its Staff Accounting Bulletin (SAB) 121 is receiving major backlash from legislators. Making their opinions heard in a memo dated November 15, several members of the US Congress wrote to the Chairman of...
Inspector General wants FDIC to refine crypto risk assessment process, guidance
18.10.2023
The bank deposit insurer should assess the sufficiency of its risk mitigation measures and then provide them in a more organized manner, the inspector general found
Top U.S. Bank Regulator Faulted for Lack of Crypto Guidance to Banks
18.10.2023
The U.S. Federal Deposit Insurance Corp. (FDIC) has left the banks it oversees unequipped to navigate the regulator's crypto expectations, according to the agency's inspector general, so the FDIC agreed to field a new strategy by January
Binance US Ends FDIC Insurance for Crypto Holdings, Citing Updated Terms of Service
18.10.2023
The US Branch of the world's largest crypto exchange, Binance US, recently communicated to its users that their cryptocurrency deposits are no longer covered by Federal Deposit Insurance Corporation (FDIC) insurance.
In an email sent to its customers on October 16, Binance US announced updates...
FTC Warns Consumers Crypto Deposits Are Not FDIC Insured
17.10.2023
The U.S. Federal Trade Commission (FTC) has warned consumers that crypto deposits are not insured by the Federal Deposit Insurance Corporation (FDIC). “That money isn’t FDIC insured or protected if the crypto company goes under,” the agency cautioned. “If something happens,...
S&P Downgrades 5 Regional US Banks Amid Challenging Banking Environment
24.8.2023
On Monday, S&P Global Ratings slashed ratings for five U.S. regional banks, pointing to the strenuous operating atmosphere plaguing the sector since the year’s outset. The impacted banks include Associated Banc Corp., Comerica Inc., KeyCorp, UMB Financial Corp., and Valley National...
FDIC's Annual Risk Report Embraces Crypto as a Significant Banking Concern
16.8.2023
Crypto assets present “novel and complex risks” to the banking sector that are “difficult to fully assess,” according to the Federal Deposit Insurance Corporation (FDIC)’s 2023 Risk Review for the banking sector.
The report – published earlier this month – named “crypto-asset risk” among five...
FDIC Crypto Warning Underlines U.S. Banking Agencies' Arm’s-Length Policy
15.8.2023
The U.S. Federal Deposit Insurance Corp. added crypto as one of five broad categories this year in its annual risk report, a snapshot of the dangers the banking regulator considers a top priority at the moment