White House economists said banning rewards wouldn’t significantly boost banks’ financial health, amplifying the crypto industry view in the Clarity Act debate. What to know: A White House report released Wednesday directly challenges the banking industry’s claims that stablecoin yields would drain deposits and weaken lending to households and small businesses. […]
Round-the-clock markets promise freedom for investors and pressure for intermediaries who traditionally wielded immense power during off-hours What to know: If the closing bell has long been a business model, then 24/7 trading is an attempt to break it. As the NYSE, Nasdaq, CME and Cboe race to introduce round-the-clock […]
As Citi plans to integrate Bitcoin into bank-grade custody and reporting frameworks, Morgan Stanley moves to bring crypto trading, lending exploration and tokenized products to mainstream wealth clients. What to know: Citigroup (C) plans to launch institutional bitcoin custody later this year, part of a broader push to integrate digital […]
A U.S. judge sentenced Daren Li to 20 years for a $73 million crypto fraud. The scam used Cambodia-based compounds to target victims via social media and dating apps. What to know: A federal judge in California sentenced in absentia a dual national of China and St. Kitts and Nevis […]
In partnership with Standard Chartered’s Zodia Custody, Dubai Insurance is the first insurer globally to issue a crypto wallet for its policy holders to transact with digital assets. What to know: Dubai Insurance became the first in its sector on a global scale to roll out a cryptocurrency wallet for […]
Russian lawmakers plan crypto regulations by midyear, permitting trading for qualified and retail investors while banning anonymous coins and domestic payments. What to know: The head of Russia’s lower house of the country’s parliament on Thursday said crypto market regulations will be ready by June of this year and come […]
A crypto lobby group said it found “increased hostility” from British banks, casting a shadow over the global cryptocurrency leadership the country said it is vying for. What to know: Even as the U.K.’s crypto regulations work their way through the system, most of the country’s banks are still blocking […]
Artemis research shows crypto credit and debit card spending is now rivaling peer-to-peer stablecoin transfers, with Visa capturing most on-chain volume through early infrastructure partnerships. What to know: Crypto cards, payment cards that let users spend stablecoins and other crypto at traditional merchants, have quietly become one of the fastest-growing […]
The ABA sent a letter to the U.S. Senate, saying stablecoins that offer yields will affect its banking members ability to grant loans, but JPMorgan disagrees. What to know: More than 100 community bank leaders are urging U.S. senators to close what they describe as dangerous loopholes in stablecoin legislation, […]
The Kinexys-led move aims to bring regulated digital cash to a privacy-enabled blockchain for real-time, interoperable finance. What to know: J.P. Morgan’s blockchain business unit, Kinexys, and Digital Asset announced plans to bring the bank‑issued USD deposit token JPM Coin (JPMD) natively to the Canton Network, a privacy‑enabled public blockchain […]