News Topic: Digital currencies

American Banker Capitol Hill reporter Neil Haggerty shares how the D.C. community reacted to Mark Zuckerberg’s congressional testimony and how they look at the project now. ... Read full article

Facebook CEO says the company won’t purse Libra anywhere if U.S. regulators disapprove; the agency says “guidance” was actually “rules.” ... Read full article

A federal judge says the agency can’t issue national bank charters to fintechs; Facebook’s CEO will state his case at a House hearing. ... Read full article

With the social media giant under heavy scrutiny for its cryptocurrency plan, the company's CEO plans to tell lawmakers that the Libra Association will take the lead. ... Read full article

The JPMorgan Chase CEO called Facebook's cryptocurrency project a "neat idea" but added his name to the list of industry leaders and policymakers skeptical about the plan. ... Read full article

The banking industry will continue its fight against the credit-loss rule; the bank posted gains in consumer, wealth management and commercial lending. ... Read full article

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

It's not a reaction to JPM Coin, the banks says, but a way to speed up international payments for corporate clients. ... 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 Financial Action Task Force’s recent guidance on data privacy regulations should serve as a warning to companies planning to test virtual currencies. ... Read full article

Two weeks after lawmakers grilled a Facebook exec over Libra, they acknowledged benefits from digital currency technology while warning of the risks. ... Read full article

Democrats called on the social media company to halt its Libra project, while Republicans said Congress should keep the door open to innovation. ... Read full article

It's created a new digital assets and distributed ledger group, trades bitcoin futures and is funding a crypto exchange. ... Read full article

The Justice Department is investigating the bank for possible money laundering violations; the Fed chair says Facebook’s plan raises “serious concerns.” ... Read full article

What Facebook really needs is another heavyweight like Amazon or Google to help spur cryptocurrency competition. ... Read full article

The rush to hold hearings in both the House and the Senate reflects broad skepticism across the political spectrum about the social network's plan to develop an alternative payment system. ... Read full article