Fed Teases New Account Model That Could Rewrite Crypto’s Banking Access
The Federal Reserve’s proposed payment account framework could revolutionize crypto’s access to banking services, but the outcome is still uncertain.
Banking
Hundreds of Crypto Firms Slam US Bank’s Lobby to Prohibit Stablecoin Yields
Hundreds of crypto firms push back against US bank lobbying to prohibit stablecoin yields, warning of regulatory uncertainty.
Bank Employee Accused of Quietly Draining $40,000 From Customers’ Accounts in Just Five Weeks
A bank employee in Hawaii is accused of stealing over $40,000 from customers’ accounts, highlighting the vulnerabilities of traditional finance and the need for more robust security measures.
Bank Paying Up To $5,000 Per Customer After Data Breach Exposed Social Security Numbers, Account Numbers and Contact Info
Summit National Bank agrees to pay up to $5,000 per customer after a data breach exposed sensitive information, highlighting the importance of robust security measures in the financial sector, including crypto.
Scammer Posing As JPMorgan Chase Convinces Woman To Withdraw $12,000 From Bank Account, Hand It to ‘FBI Agent’: Report
An elderly woman loses $12,000 to a scammer posing as a JPMorgan Chase representative, highlighting the growing threat of crypto scams.
PYUSD Stablecoin Issuer PayPal Seeks State-Chartered Bank License
PayPal seeks state-chartered bank license to expand financial services and provide a more stable foundation for its PYUSD stablecoin.
PayPal Moves to Set Up Utah-Chartered Bank to Bolster Payments and Lending
Analysis of PayPal’s pursuit of a Utah-chartered bank license and its potential impact on cryptocurrency integration and adoption.
Post Office Worker Steals $156,000 From Residents, Cashing Stolen Checks in Fraudulent Bank Account: DOJ
A recent case of postal worker theft highlights the vulnerabilities of traditional banking and underscores the need to explore secure decentralized alternatives like cryptocurrencies.
US Senators make ‘real progress’ on sweeping crypto market bill following talks with bank execs
U.S. Senators are making progress on cryptocurrency legislation, signaling a potential shift in regulatory clarity for the market.
Brazil regulators bar Nubank from bank-linked marketing without proper license
Nubank faces regulatory hurdles in Brazil as regulators bar it from using the “bank” label, impacting its branding strategy.