SEC Crypto Lawsuits Raise Questions About Industry’s Future
Industry leaders say that, with their latest actions, U.S. regulators are more clearly signaling that they seek to ensure cryptocurrency has no room in the traditional financial system.
Fed Urges Crypto Caution for Banks
While the biggest news to come out of Fed Chair Jerome Powell’s regular testimony before Congress was his willingness to make aggressive interest rate hikes to cool the economy, he also revealed that the central bank is worried about American financial institutions’ work in the crypto space.
Fed Rejects Wyoming Crypto Bank’s Application
The Federal Reserve Board has denied a Wyoming cryptocurrency bank’s application for Federal Reserve System membership, officials announced Friday, dealing a setback to the crypto industry’s attempts to build acceptance in mainstream U.S. banking.
Treasury Recommends Exploring Creation of a Digital Dollar
The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar, saying it would help reinforce the U.S. role as a leader in the world financial system.
Banking Group Concerned About CBDC Approach
The executive order on cryptocurrency has raised concerns in the banking industry about the Biden administration’s approach to possibly creating a digital currency issued by the federal government.
Biden Signs Order on Cryptocurrency as Its Use Explodes
President Joe Biden on Wednesday signed an executive order that could lead to greater government oversight of cryptocurrency and even a Federal Reserve-backed digital token.
Barbie’s Dream Bidding War Featured in Super Bowl Ad
Off the field, Super Bowl advertisers were in a tough competition of their own, with big names in cryptocurrency and mortgage lending among the firms shelling out $7 million to reach sports fans.
Central Banks Join to Study Possible Digital Currencies
Major central banks have joined together to explore whether they should issue cryptocurrencies as the use of cash declines and more people turn to electronic forms of paying.
Despite Defections, Facebook Officially Launches Libra
Facebook officially moved forward with its plans Monday to create a new digital currency called Libra, despite several high-profile defections from the project and intense criticism from U.S. regulators and politicians.
JPMorgan Sued Over Fees for Cryptocurrency Purchases
JPMorgan Chase & Co. has been hit with a lawsuit in Manhattan federal court accusing it of charging surprise fees when it stopped letting customers buy cryptocurrency with credit cards in late January and began treating the purchases as cash advances.
