Global #banks

A landmark report from Solid Intel suggests that U.S. federal banking regulators have authorized banks to legally participate in the trading and custody of cryptocurrencies.

On December 18, the Federal Reserve announced a significant regulatory shift, repealing the strict 2023 limitations placed on state member banks regarding cryptocurrency activities.

ClearBank, a UK-based regulated fintech bank, has signed a framework agreement with Circle Internet Financial to expand the use of the stablecoins USDC and EURC across Europe.

Vietnam's government has approved a new pilot program for cryptocurrency exchanges, prompting a swift response from the country's major banks and securities firms.

While XRP was initially launched to become the primary digital currency for banks, similar to a "SWIFT killer" for cross-border settlements, it hasn't been widely adopted by major financial institutions.

The recently passed GENIUS Act is at the heart of a major dispute between traditional banking and the crypto sector. Banking groups, led by the American Bankers Association, are warning that a flaw in the new law could allow crypto exchanges to offer yield on stablecoins such as USDC and USDT.

Following the demise of Tether's EURt, a wave of banks are entering the euro-backed stablecoin market.

In a recent paper, the Basel Committee on Banking Supervision (BCBS) has underscored the multiple risks faced by banks engaging in transactions on permissionless blockchains.