Payments Source

FEBRUARY 8, 2019

With the backing of these establishments and Federal Deposit Insurance Corporation (FDIC) protections, the cloud of uncertainty surrounding cryptocurrencies will begin to lift, writes Eric Solis, founder and CEO of MovoCash.

cryptocurrency 104

cryptocurrency FDIC Bitcoin Payments 104

Perficient

FEBRUARY 16, 2022

Cryptocurrency continues to grow, and Perficient is committed to helping financial services clients continue to understand and navigate this fast-changing part of the economy. Although not stated, FDIC insurance of stablecoin deposits would almost have to be required. Further Reading.

New York 294

New York cryptocurrency Security FDIC 294

CFPB Monitor

FEBRUARY 24, 2023

Earlier this month, the Federal Deposit Insurance Corporation (FDIC) issued cease-and-desist letters to a cryptocurrency exchange and a fintech , demanding that each of these entities immediately stop making false and misleading statements about FDIC coverage of their financial products. Continue Reading

FDIC 78

FDIC cryptocurrency Fintech Marketing 78

ABA Community Banking

APRIL 8, 2025

The FDIC will waive some requirements for large bank resolution planning and take steps to boost de novo bank formation, particularly in areas of the country without a local community bank, Acting FDIC Chairman Travis Hill said.

FDIC 52

FDIC Community Bank Community Policies 52

PYMNTS

MAY 15, 2019

The revelation comes after reports last month that Samsung was planning to develop its own proprietary blockchain network , as well as launch its own cryptocurrency token. FDIC) — the FDIC-insured accounts will be linked to a crypto prime dealer. And SFOX is partnering with New York-based M.Y. SFOX’s partnership with M.Y.

Samsung 191

Samsung blockchain Bitcoin FDIC 191

Abrigo

JANUARY 4, 2023

Guidance for banks on the lookout for crypto scams and fraud The turbulent cryptocurrency scene should put bankers on high alert. You might also like this whitepaper, "Understanding cryptocurrency." Takeaway 1 Cryptocurrencies are the newest and most popular field in potential financial gains through fraud. DOWNLOAD WHITEPAPER.

social media 195

social media Fraud cryptocurrency Trends 195

CFPB Monitor

AUGUST 23, 2022

On August 19, 2022, the FDIC issued cease and desist letters to five crypto companies, alleging they made false and misleading statements about FDIC deposit insurance and demanding immediate corrective action. According to the FDIC’s press release , “[b]ased upon evidence collected., Part 328, Subpart B.

FDIC 78

FDIC social media cryptocurrency US 78

American Banker

AUGUST 4, 2023

a cryptocurrency-focused nonbank — for making false claims about FDIC deposit insurance coverage on its crypto-related products Friday. The Federal Deposit Insurance Corp. issued a cease-and-desist order to Unbanked, Inc. —

FDIC 69

FDIC cryptocurrency Compliance Regulation 69

American Banker

JUNE 28, 2024

The company says the FDIC's "pause letters" to banks and denial of Freedom of Information Act requests are illegal.

FDIC 78

FDIC Company Bitcoin cryptocurrency 78

PYMNTS

DECEMBER 11, 2020

OMG Network is looking to integrate multiple electronic wallets using the OmiseGo blockchain, while 0x is a decentralized exchange that enables developers to create their own cryptocurrency exchanges. The startup reminded people that cryptocurrencies are not regulated in the U.K. In March, Revolut launched in the U.S.

cryptocurrency 150

cryptocurrency blockchain FDIC Bitcoin 150

Bank Innovation

MAY 21, 2018

Cryptocurrency is going mainstream, or rather, banks and cryptocurrency exchanges are growing more enmeshed.

cryptocurrency 186

cryptocurrency Bitcoin Operations Industry 186

PYMNTS

NOVEMBER 30, 2018

According to The Next Web , Jared Rice defrauded investors out of $4 million after he claimed the company would become the “first decentralized banking platform” — offering FDIC -insured accounts and banking services, as well as Visa -branded credit cards and other cryptocurrency services.

blockchain 136

blockchain Bitcoin cryptocurrency FDIC 136

Perficient

DECEMBER 27, 2023

This particular scam involves criminals building trust with victims in digital relationships before persuading them to invest in cryptocurrency platforms, ultimately leading to financial losses. An emerging scam known as “pig butchering” was recently flagged by the Financial Crimes Enforcement Network (FinCEN).

Compliance 221

Compliance FDIC Regulation Fraud 221

PYMNTS

FEBRUARY 7, 2020

It chiefly attracts millennials interested in trading stocks and cryptocurrency. The Robinhood cash management feature is offered in partnership with a bank, and includes debit cards, and, critically, deposits backed by the Federal Deposit Insurance Corporation (FDIC). Robinhood declined to comment about the imminent UK expansion.

United States 150

United States FDIC Millennials cryptocurrency 150

American Banker

JUNE 17, 2024

has generated little pushback from Senate Republicans, though her lack of bank supervisory experience and her record on cryptocurrency are the most likely lines of attack during her confirmation process. Christy Goldsmith Romero — the White House's pick to succeed Martin Gruenberg as chair of the Federal Deposit Insurance Corp. —

FDIC 77

FDIC cryptocurrency Policies Compliance 77

Banking Exchange

MAY 19, 2021

Corporation is the latest regulator to respond to the rapidly growing fintech market Compliance Technology Feature3 Fintech Blockchain Feature Financial Trends Bitcoin Cryptocurrency Compliance Management Compliance/Regulatory.

Regulation 78

Regulation FDIC Compliance Bitcoin 78

PYMNTS

JANUARY 30, 2018

In addition, the SEC alleges AriseBank “falsely stated that it purchased [a Federal Deposit Insurance Corporation]-insured bank, which enabled it to offer customers FDIC-insured accounts.” In response to the complaint, the firm said it amended its announcement about the bank. The news comes as the SEC has grown increasingly wary of ICOs.

Texas 111

Texas social media FDIC cryptocurrency 111

PYMNTS

JULY 21, 2019

Senator Mike Rounds made an announcement at a Senate Banking Committee hearing regarding Facebook’s planned cryptocurrency on Tuesday (July 16), but it wasn’t related to Libra. In other news, a retired couple in Australia have lost $900,000 due to a cryptocurrency scam.

South Dakota 134

South Dakota Bitcoin cryptocurrency Ohio 134

PYMNTS

DECEMBER 16, 2020

The rollout makes Quontic “the first FDIC insured financial institution in the U.S. resident and non-resident global customers can open a FDIC-insured U.S. FIS Powers Launch Of Quontic Bank’s Bitcoin Rewards Account. to go live with a Bitcoin Rewards debit card,” according to an announcement. Aeldra’s U.S.

Bitcoin 157

Bitcoin FDIC Cards California 157

PYMNTS

JANUARY 7, 2019

The statement comes as cryptocurrencies are still not being recognized as legal tender. Against that backdrop, there are, at present, no plans for the nation to issue a state-backed cryptocurrency, as the government has pointed toward continuing concerns over money laundering and cyber risks. In the U.S.,

Regulation 151

Regulation cryptocurrency National Capital 151

American Banker

APRIL 4, 2025

The Federal Deposit Insurance Corp. is navigating widespread layoffs and policy changes amid a government-wide overhaul. What does it mean for the industry?

FDIC 78

FDIC Policies Industry cryptocurrency 78

PYMNTS

DECEMBER 12, 2019

The cash management feature is offered in partnership with a bank, and has debit cards, as well as deposits backed by the Federal Deposit Insurance Corporation (FDIC). Robinhood , which launched in 2013, attracts millennials interested in trading stocks and cryptocurrency. stocks, exchange-traded funds and options.

FDIC 135

FDIC Millennials Management Fintech 135

PYMNTS

OCTOBER 8, 2019

Investors’ money will be covered by the Federal Deposit Insurance Corporation (FDIC) up to $1.25 Any money, including from sales of securities or cryptocurrency, gets put into the partner banks, which include well-known institutions like Wells Fargo, Citibank and Goldman Sachs.

FDIC 124

FDIC ATM cryptocurrency Cards 124

American Banker

SEPTEMBER 18, 2024

As Silvergate Capital filed for Chapter 11 bankruptcy protection, an executive said the company's crypto-friendly bank went down last year because regulators soured on its business model.

FDIC 101

FDIC Regulation Capital Company 101

PYMNTS

JULY 1, 2019

Facebook’s announcement of Libra late last month has spurred greater regulatory oversight of cryptocurrencies, with a particular eye on who may be bringing those cryptos into the larger payments ecosystem. FDIC’s New Division. This would not be the first time the Federal Cartel Office has focused on Facebook.

cryptocurrency 100

cryptocurrency Regulation social media FDIC 100

American Banker

JUNE 21, 2022

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Analysis 99

Analysis Survey FDIC Policies 99

ABA Community Banking

SEPTEMBER 8, 2021

Banks of all sizes are hearing from many customers that they want exposure to the fast-growing but volatile cryptocurrency market. Vast Bank recently became the first nationally chartered, FDIC-insured bank to offer crypto banking. The post How a Community Bank Launched a Retail Crypto Platform appeared first on ABA Banking Journal.

Community Bank 64

Community Bank Community Retail FDIC 64

CB Insights

JUNE 22, 2018

Is a new cryptocurrency underway? Former chair of the Federal Deposit Insurance Corporation (FDIC) Sheila Bair spoke at length on cryptocurrencies and the prospect of a “Fedcoin” at the annual CB Insights Future of Fintech conference. Bair has commented on Fed-backed cryptocurrencies before. ”

cryptocurrency 32

cryptocurrency FDIC Policies Conference 32

Perficient

JUNE 10, 2022

As the government, whether the FDIC or Federal Reserve, provides the stop gap liquidity to banks, the spill-over effect could significantly damage the US Dollar and the credit worthiness of the US government.

blockchain 275

blockchain Regulation Policies FDIC 275

American Banker

AUGUST 16, 2022

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FDIC 85

FDIC cryptocurrency 85

BankInovation

NOVEMBER 23, 2021

banking agencies have issued a to-do list of their plans to tackle oversight of the cryptocurrency industry next year. In an agenda released on Tuesday, the Federal Reserve and other regulators outlined what issues they plan to focus on as they consider rules for how banks interact with cryptocurrencies.

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Regulation cryptocurrency Industry FDIC 98

American Banker

NOVEMBER 8, 2021

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FDIC 81

FDIC cryptocurrency 81

American Banker

APRIL 1, 2025

Decreased funding for Community Development Financial Institutions and the declawing of the Federal Deposit Insurance Corp. are top of mind for bankers.

FDIC 60

FDIC Community Industry cryptocurrency 60

American Banker

MARCH 25, 2025

Chair Travis Hill said the agency would eliminate reputational risk from all supervision, release more guidance on cryptocurrencies and refocus bank supervision. Acting Federal Deposit Insurance Corp.

FDIC 36

FDIC cryptocurrency Policies Compliance 36

American Banker

FEBRUARY 5, 2025

acting Chair Travis Hill released a trove of internal supervisory correspondence from the agency to banks regarding proposed cryptocurrency business lines or relationships, initiatives Hill said were "universally met with resistance" by the agency. Federal Deposit Insurance Corp.

FDIC 36

FDIC cryptocurrency Policies Compliance 36

American Banker

FEBRUARY 3, 2022

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FDIC 69

FDIC Policies cryptocurrency 69

American Banker

AUGUST 19, 2022

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FDIC 68

FDIC US cryptocurrency Compliance 68