Regulatory clarity key for banks entering crypto, industry exec says
Lead Bank executive Erica Khalili talks about why now’s not an easy time in the digital banking sector. This post was originally published on this site
Regulatory clarity key for banks entering crypto, industry exec says
Lead Bank executive Erica Khalili talks about why now’s not an easy time in the digital banking sector. This post was originally published on this site
Silvergate Capital files for bankruptcy amid crypto market turmoil
Silvergate Capital filed for bankruptcy on September 18, 2024, in Delaware. The bank, shuttered in March 2023, will not compensate common stockholders. Regulatory probes and the crypto market collapse blamed for Silvergate’s financial downfall. Silvergate Capital, the parent company of Silvergate Bank, filed for bankruptcy in Wilmington, Delaware on September 18, 2024. The move marks […]
Harris campaign’s alleged crypto reset questioned amid Fed's bank action
Critics argue that the Fed’s actions represent a significant overreach and could stifle innovation in the rapidly growing cryptocurrency sector.This post was originally published on this site
Revolut secures UK banking license
Crypto-friendly fintech platform Revolut has secured a banking license in the UK. The digital bank has 9 million UK customers and 45 million globally. After a three-year wait, crypto-friendly fintech firm Revolut has finally secured a banking license from United Kingdom’s banking regulator Prudential Regulation Authority (PRA). Revolut announced the milestone in a news release […]
Federal Reserve Fines Citigroup $60.6 Million for Ongoing Risk Management Deficiencies
The U.S. Federal Reserve has imposed a $60.6 million fine on Citigroup for continued failures in its risk management and data quality practices. The enforcement action follows Citigroup’s insufficient progress in addressing deficiencies identified in a 2020 order. Citigroup Faces $60.6 Million Fine from Federal Reserve for Risk Management Shortcomings In a recent examination, the […]
Federal Reserve Fines Citigroup $60.6 Million for Ongoing Risk Management Deficiencies
The U.S. Federal Reserve has imposed a $60.6 million fine on Citigroup for continued failures in its risk management and data quality practices. The enforcement action follows Citigroup’s insufficient progress in addressing deficiencies identified in a 2020 order. Citigroup Faces $60.6 Million Fine from Federal Reserve for Risk Management Shortcomings In a recent examination, the […]
Saxo Bank ordered to dispose of crypto holdings by Denmark’s DFSA
The DFSA ordered the Saxo Bank to dispose of its own holdings in crypto. The Financial regulators in Denmark have said that local banks are not allowed to hold crypto to hedge against trading risks. DFSA’s order concerning Saxo Bank’s crypto holdings will have little impact on the bank’s business. Local investment bank Saxo Bank […]