The GENIUS Act. Sounds impressive, right? Guiding an Establishing National Innovation for U.S. It’s got all the buzzwords: Innovation, national, stablecoin. But beneath that shiny new initiative facade and bipartisan glow, lies something much less… genius. Don’t let big banks further entrench their stranglehold on the future of finance. This...
The Federal Reserve (Fed) and the Federal Deposit Insurance Corporation (FDIC) recently announced the withdrawal of previously issued guidance concerning banks' involvement with crypto-assets. The American Bankers Association (ABA) applauded the announcement. It withdraws a 2022 supervisory letter that called on state member banks to inform the Fed prior to...
The Federal Reserve has recently gone out on a limb. Its reverberations are rippling across the financial landscape, deeply affecting one of the most dynamic spaces, the burgeoning cryptocurrency industry. The Fed has rescinded its supervisory guidance letter to banks it supervises discouraging their participation in activities related to crypto-assets....
Dutch banking giant ING is making waves in the crypto space with its euro-backed stablecoin initiative. This move, in collaboration with other traditional financial institutions and crypto service providers, signals a significant shift in how established banks are approaching digital assets. After the European Union adopted the groundbreaking Markets in...
