News Topic: Cryptocurrencies

Some banks have backed away from the technology, but Northern Trust, State Street and JPMorgan Chase are among those actively working on blockchain projects. ... Read full article

Big banks may have found a way to lower needed reserve levels; with Brexit delayed, Goldman will hold off on expansion. ... Read full article

Digital coin could be used for purchases across the internet; Berkshire vice chair says he would have let Sloan stay on at Wells. ... Read full article

Martin Chavez, global co-head of the securities division at Goldman, suggested the bank is unlikely to fully support crypto until such currencies have the backing of the U.S. government. ... Read full article

The bank agreed to pay $150 million to California to settle charges it hid the risks on the sale of mortgage bonds pre-crisis; foreign suitors circle Commerzbank while Deutsche Bank seeks answers. ... Read full article

Small banks rise up against “onerous contracts and sometimes mediocre digital offerings”; Quarles warns banks to speed up preparations for Libor sunset. ... Read full article

As bankers' skepticism about blockchain deepens, crypto firms should demonstrate how the technology can help financial companies, such as by extending access to the underbanked, says Hinkes, a prominent advocate of blockchain. ... Read full article

Since last fall, when the value of digital money plummeted, lenders have been pushing people who have paper profits to leverage them into cash by borrowing against their cryptocurrencies. And the fact that there's no tax bill on the transactions is a ... Read full article

The flagship division is on course to miss next year’s financial projections; Investors may be using SOFR swaps as a hedge against expected volatility. ... Read full article

The Financial Crimes Enforcement Network voluntarily works with tribal law enforcement on anti-money-laundering and counterterrorism initiatives, but is not currently required to do so by statute. ... Read full article

Readers consider Square's bid to become an industrial loan company, weigh the Federal Deposit Insurance Corp.'s oversight of brokered deposits and debate reforms to the Consumer Financial Protection Bureau. ... Read full article

Tech giants have been experimenting with blockchain technologies for years, and while they haven’t displaced banks, there’s still cause for concern. ... Read full article

Entrepreneurs in the digital-assets industry say that even as some attract investment from multibillion-dollar institutions, they are routinely refused basic banking services by the likes of HSBC and JPMorgan Chase. ... Read full article

Fincross, based on the island of Mauritius, is launching a regulated investment bank for digital assets. It faces tough competition. ... Read full article

Flaws in testing may be real source of Wells Fargo's tech failure; BB&T-SunTrust deal throws talent and deposits up for grabs, threatens banking's middle tier; what JPMorgan Chase's JPM Coin means for Ripple and Swift; and more from this ... Read full article

The JPM Coin will be used to expedite payments transfers for its corporate clients; customers of Spain’s largest retail bank will be able to withdraw cash without entering a PIN. ... Read full article

JPMorgan's blockchain effort could lead to solutions that overcome industry skepticism and regulatory concerns and perhaps attract more mainstream retail interest. ... Read full article

Barclays, Bank of America, TD Bank and other banks have filed multiple blockchain patents over the years, but have yet to publicly announce their plans for the technology. ... Read full article