News with the tag "Fdic"

Ben Hoffman, Chief Strategy Officer and Head of Consumer Products at Fifth Third Bank says the company is considering expanding its cryptocurrency business. This comes after establishing a small clientele that uses deposit accounts and payment features for tasks like sending payroll and collecting m...

Senator Cynthia Lummis, the SBR evangelist, has said that she will continue to hold the Fed accountable until crypto is fully supported. This is in relation to the Fed’s withdrawal of crypto rules for banks, which has ended “Chokepoint” practices. According to reports, Lummis said that she will “con...

The Federal Reserve is taking a major step back from monitoring banks’ crypto activities. In a new press release , the regulator says it is withdrawing four previous statements and letters regarding the Fed’s expectations of banking crypto activities. “The Federal Reserve Board on Thursday announced...

Bitcoin Magazine FDIC Says Banks Can Engage In Bitcoin And Crypto Without Prior Approval The Federal Deposit Insurance Corporation ( FDIC ) has issued new guidance allowing banks it supervises to engage in bitcoin and crypto activities without seeking pre-approval. This reverses a controversial poli...

Many FTX creditors who use Kraken confirmed on Tuesday via Reddit that refunds have started landing in their accounts, covering creditors with claims under $50,000. Sunil, an FTX creditor tracking the process, said the exchange has already paid out $800 million from a $1.2 billion round of distribut...

Anchorage Digital CEO Nathan McCauley took the stand earlier this month at a Senate hearing with one message—his crypto bank was cut off without warning. The bank Anchorage had been working with for two years pulled the plug overnight. No call. No explanation. Nothing. “We had a bank that we had a g...

BlackRock, Inc., an American multinational investment company, and the Federal Deposit Insurance Corp. (FDIC) are addressing a dispute over the asset manager’s stakes in American banks. The negotiations , which have been ongoing for months, revolve around BlackRock’s compliance with new oversight ru...

A federal judge is reportedly ruling that top US-based crypto exchange Coinbase must face a class action lawsuit in New York. According to a new report from Reuters, Paul Engelmayer, a judge for the Southern District of New York, is rejecting Coinbase’s argument that it did not qualify as a “statuto...

On Feb. 5, 2025, the Federal Deposit Insurance Corporation released 175 documents from the Biden-era FDIC correspondence ahead of the U.S. Senate Banking Committee GOP hearing on the debanking of crypto companies. New documents reveal new details of the so-called “Operation Choke Point 2.0.” Table o...

The Federal Insurance Deposit Corporation (FDIC) is unsealing hundreds of documents that expose how US institutions were instructed to be deprived of crypto-related services. In a new press release, the FDIC – the government agency that insures deposits in US banks – says it is unveiling 175 documen...