Federal

Crypto banking is affected as the Federal Reserve’s Custodia Bank request is denied

The Federal Reserve Board has rejected a Wyoming cryptocurrency bank’s application for membership in the Federal Reserve System, officials announced Friday, setting back the crypto industry’s attempts to build acceptance in mainstream U.S. banking. Cheyenne-based Custodia Bank has been hailed by many in crypto banking for more than two years as a leader in crypto …

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Subpoenas issued in ongoing federal investigation of crypto exchange Binance

Comment on this story Comment Federal prosecutors are examining US hedge funds’ dealings with cryptocurrency exchange Binance as part of a long-running investigation into possible money-laundering violations at one of the world’s leading crypto companies. In subpoenas sent in recent months, the U.S. Attorney’s office for the Western District of Washington in Seattle directed investment …

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Federal Reserve, Top Banking Regulator Flags ‘Significant’ Concerns About Crypto Assets

The Federal Reserve, the FDIC and the Office of the Comptroller of the Currency (OCC) issued a joint statement on Tuesday warning of the “significant” risks that crypto-assets may pose to the broader banking system. “It is important that risks associated with the crypto asset sector that cannot be mitigated or controlled do not migrate …

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