News with the tag "deposit insurance"

The Federal Deposit Insurance Corp. will no longer instruct banks to get prior sign-off before they engage in crypto activities — a standard that was set in 2022 and that effectively severed institutions from the digital assets sector as they waited for approvals that never came. The FDIC, which is ...

President Donald Trump is just about done naming the key figures he's seeking to get into financial regulation posts that will direct the future oversight of the crypto industry, now including lawyer Jonathan Gould as a nominee to run the Office of the Comptroller of the Currency that oversees U.S. ...

The crypto industry can likely look forward to two more agencies falling into line on its digital assets policy aims: the Office of the Comptroller of the Currency, which is one of the chief U.S. banking regulators, and the Consumer Financial Protection Bureau, where the lights are effectively being...

The chief lawyer of U.S. crypto exchange Coinbase (COIN) testified about the abuse of authority from regulators who erected barriers between banks and crypto firms in a hearing of the House Financial Services Committee on Thursday, marking the latest advance in the digital assets industry's reversal...

As U.S. senators prepared to gather for a hearing about U.S. debanking of crypto clients, the interim chief of the Federal Deposit Insurance Corp. said his agency is overhauling its digital assets supervision and revealed more correspondence on Wednesday in which FDIC officials steered banks away fr...

US regulators have abruptly shut down a bank in Illinois in the first bank failure of 2025. The Federal Deposit Insurance Corporation (FDIC) says the Illinois Department of Financial and Professional Regulation (IDFPR) has closed Pulaski Savings Bank. The FDIC has been appointed as the receiver and ...

"You must ensure your staff cease and desist destruction of all materials and end retaliatory actions immediately," Lummis wrote.

Republican U.S. Senator Cynthia Lummis took aim at two federal agencies on behalf of the crypto industry this week, just days before the wide-reaching transition of the federal government when President-elect Donald Trump again takes office. Lummis warned the U.S. Marshals Office to slow down its cr...

When inauguration day rolls around in the U.S., the first policy domino to topple could be the industry's banking roadblocks, though the White House may be the wrong place to watch for the most consequential action. The crypto industry will surely cheer loudly over some of the executive-order firewo...

The Federal Deposit Insurance Corp. will soon be under new management, and the senior Republican there, Travis Hill, has outlined some pro-crypto policy thoughts just before he'll take over – at least on a temporary basis, if not as the permanent new chairman. FDIC Vice Chairman Hill , who is expect...