Digital money will have to coexist with cash and other forms of tender, according to a report by the Bank of International Settlements, the Federal Reserve and other institutions.
In July, the OCC issued a letter clarifying that federally chartered banks can store cryptocurrency assets for their clients. A recent global survey finds that many are wary of the risks.
Employees in the financial industry and public sector are considerably more worried about the risks posed by digital currency than those in the cryptocurrency field, a new survey finds.
Caitlin Long, a former Morgan Stanley and Credit Suisse managing director, is starting a special-purpose depository institution that will provide payment and custody services to institutional investors and corporate treasurers.
Government stimulus programs are buoying consumers hurt by the coronavirus shutdown; the bank has been forced to sell loans to stay within the Fed-imposed $1.95 trillion asset cap.
The Treasury secretary’s recent Senate testimony coming down on cryptocurrencies is misguided. Regulations should require building better blockchain technology at the banks.
