Rep. Emanuel Cleaver, D-Mo., sent a letter to two virtual currency trade associations on Thursday asking them what their members are doing to prevent hate groups from using cryptocurrencies to finance themselves.
S&P lowers the bank’s rating to A-minus following Federal Reserve sanctions on growth; 13 are arrested after alleging defrauding banks of $530 million over seven years.
The heads of the Securities and Exchange and Commodity Futures Trading commissions said they are not ignoring the fast-growing cryptocurrency sector and they have some oversight powers. But they indicated that they might need more.
Shares drop nearly twice as much as other bank stocks and the broader market; agency denies it’s looking to end the investigation into last year’s data breach.
The bank’s assets are capped at their current level of $1.95 trillion; Citi, JPM and B of A will no longer allow bitcoin purchases on their credit cards.
The Japanese cryptocurrency exchange Coincheck says roughly $400 million of the digital currency NEM was stolen. If banks and others are to invest in the digital-asset industry, it will have to do better.
SEC, CFTC heads say cyber markets “show little or no regard” for regulation; Dimon and Blankfein say president’s policies help the economy and their businesses.
