The US FDIC proposes a rule to establish a regulatory framework for stablecoin issuers, including requirements involving reserve assets, after the GENIUS Act
Quick Take — The FDIC voted to propose a rule that would set forth standards for stablecoin issuers, including requirements involving reserve assets.
Source: Erebor, a digital bank co-founded by Palmer Luckey, raised $350M led by Lux Capital at a $4.35B post-money valuation; it secured FDIC approval last week
Erebor, a new digital bank co-founded by Anduril CEO Palmer Luckey, has quietly raised $350 million at a $4.35 billion post-money valuation, Axios has learned.
The US Senate confirms FDIC acting chairman Travis Hill to lead the agency, which regulates stablecoin issuers and impacts how the crypto industry is banked
In a package of confirmations, the U.S. Senate approved Mike Selig to lead the CFTC and Travis Hill to run the FDIC, both with major potential reach into crypto.
The US Federal Reserve withdraws guidance requiring banks to seek regulatory approval before engaging in crypto-related activities, joining the FDIC and OCC
Michael Saylor crypto.news : Federal Reserve withdraws restrictive crypto guidance for banks Troy Watson / ZyCrypto : Federal Reserve Reverses Debanking Policies, Banks May No Longer Need Approval to ...
The US FDIC says banks can engage in cryptocurrency and other legally permitted activities without prior regulatory approval if they manage risks appropriately
Basically the crypto version of the housing crisis. @opinionatedogre : Because greedy banks are historically known for self-restraint and managing risks appropriately... Holy shit, the next Wall St. ...
Block says it is expanding consumer lending through Cash App Borrow after obtaining FDIC approval to issue loans out of its subsidiary Square Financial Services
MacKenzie Sigalos / CNBC :
Coinbase publishes FDIC documents, obtained via a lawsuit, that it says prove crypto businesses were systematically walled off from banking by the regulator
Crypto banking activity was paused or prevented by the Federal Deposit Insurance Corp. at a large number of U.S. banks in 2022 …
Customers of banking startups like Yotta describe losing savings ranging from $7,000 to $200,000+ due to Synapse's collapse, after US regulators refused to help
Customers believed the accounts were backed by the full faith and credit of the U.S. government. … Augie Ray / @augieray@mastodon.social : For fifteen years, I've heard how traditional financial servi...
Coinbase files two lawsuits against the US SEC and the FDIC for not complying with FOIA requests; one of the FOIA requests is about how the SEC views ether
instead of waiting to be picked on, Coinbase deals with the bully in the best way possible, a direct confrontation. LinkedIn: David Brill : Coinbase Sues SEC and FDIC Over Alleged Lack of Transparency...
Coinbase files two lawsuits against the US SEC and the FDIC for not complying with FOIA requests; one of the FOIA requests is about how the SEC views ether
- Coinbase, which retained consultant firm History Associates Inc. to file the FOIA requests, took aim at the SEC and FDIC …