News Topic: Cryptocurrencies

Consumer banking is expected to offset the banks’ underperforming Wall Street units; the defections of Visa, Mastercard and Stripe threaten the cyrpto project’s viability before it starts. ... Read full article

Banks shouldn't let the legal and regulatory hurdles deter them, attorney Felix Shipkevich says. ... Read full article

As regulatory pushback against Facebook's Libra cryptocurrency has accelerated, keeping the project together has become a major challenge, with Visa, Mastercard, Visa, eBay and Stripe joining PayPal in leaving the project. ... Read full article

A digital currency firm has been accused of recruiting actors to pretend to be Comerica and Mastercard employees, writing a fake prospectus and taking other steps to make it look like the two U.S. companies were its partners in an investment venture. ... Read full article

The social media giant's CEO will likely encounter pushback from members of the Financial Services Committee about the company's plans to launch its own cryptocurrency. ... Read full article

The EU wants to protect the euro and ensure Facebook’s digital currency isn’t used for money laundering; the brokerage is partnering with six banks to offer 2% on account balances. ... Read full article

The German bank is trying to reverse its reputation for “lousy systems;” the Bakkt platform has failed to attract much trading in its first two weeks. ... Read full article

The decision is a blow to Facebook's digital currency plans; the reduction is the bank’s “most ambitious attempt to rein in costs in years." ... Read full article

Facebook's Libra cryptocurrency project has lost its first major ally. PayPal — where the head of Facebook's Libra project once served as president — has cut its ties. As a founding member, PayPal was expected to drive the payment-specific part ... Read full article

The GSEs will hold onto a combined $45 billion as they start the process of going private; PayPal becomes the first foreign firm to win approval to enter the country’s payments market. ... Read full article

States are just beginning to regulate cryptocurrency as a credit collateral for lenders. More can be done. ... Read full article

Some countries are toying with digitizing their currencies; NY Fed chief defends SOFR despite recent concerns about repo market volatility. ... Read full article

Building capital will help the mortgage agencies move toward the private sector; Virtual Wellness needs to assure banks it's safe to do business with them. ... Read full article

Vikram Pandit says digital push could force “creation of 21st century regulation”; Fed will conduct $75 billion overnight repurchase agreement operation. ... Read full article

The new regulation in New Zealand shows other jurisdictions how best to address cryptocurrencies and their use in payments. ... Read full article

The creator of Zelle precursor clearXchange is heading a company building a blockchain-based international payment technology for banks. ... Read full article

The company sees increasing consumer demand for cryptocurrency, especially in Asia, and gradual acceptance among financial institutions. ... Read full article

The bank elevated three senior executives who could be possible successors to CEO Sergio Ermotti; the move to a new rate benchmark won’t trigger a “tax event.” ... Read full article