News with the tag "banks"

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...

Russia’s position on cryptocurrencies has undergone a significant shift in recent years, moving from strict opposition to a more nuanced and strategic approach. Once advocating a total ban on digital assets, the Bank of Russia is now proposing a regulatory framework that would permit wealthy individ...

A billion-dollar bank is warning customers after a cybersecurity breach affecting thousands of customers. In a filing with the Office of the Maine Attorney General, Western Alliance Bank says an unauthorized actor exploited a vulnerability in a third-party file transfer software system it uses. The ...

Wells Fargo and two of its business partners are set to fork out millions of dollars to individuals and businesses after agreeing to settle a class action lawsuit that alleged sales calls to potential customers of the fourth-largest US bank were secretly recorded for nearly a decade. According to th...

The US government just made history by officially recognizing Bitcoin as a strategic reserve asset—a first for any global superpower. President Donald Trump’s new Executive Order (EO) establishes a Strategic Bitcoin Reserve, ensuring that seized Bitcoin will be permanently held by the federal govern...

The rising tide of stablecoin adoption has prompted a significant response from traditional financial institutions. Global banks and fintechs are launching their own stablecoins, capitalizing on the increasing adoption and favorable regulatory environment. Joining an established list of payment prov...

The Office of the Comptroller of the Currency (OCC) is easing its stance on how US banks deal with crypto and stablecoin activities. In a new press release, the regulatory agency says that banks now have the green light to manage crypto assets, partake in certain stablecoin activities and participat...

Cryptocurrency markets are likely to remain under pressure in the short term owing to a lack of positive catalysts and skepticism about whether Congress will approve a U.S. strategic crypto reserve, JPMorgan (JPM) said in a research report Wednesday. "Not only is there skepticism about congressional...

More and more online casinos are now starting to accept crypto as a payment method. While we can’t imagine everybody will want to play with crypto, since it is still a rather ‘niche’ way to pay for goods and services, we know that there are some people who are, at the very least, considering it. Thi...

The Consumer Financial Protection Bureau (CFPB) has abruptly dropped a lawsuit accusing JPMorgan Chase, Wells Fargo, Bank of America and Zelle of failing to protect consumers from $870 million in losses on the Zelle network over seven years. The lawsuit, filed in December, alleged Zelle’s parent com...