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Stablecoin

Gould backs charters to bring nonbanks into regulatory fold

Nonbank, Politics and policy, Regulation and compliance, Stablecoin /

Key insight: Gould argued the OCC can only ensure fair oversight by admitting qualified fintechs and crypto firms through national trust charters, saying regulation outside the perimeter is impossible. Supporting data: He acknowledged concerns over fairness as the OCC reviews trust charters like Coinbase’s and said Dodd-Frank narrowed the “scope of banking relevance,” driving innovation […]

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Fed’s Bowman seeks level field for banks on digital assets

Cryptocurrency, Monetary policy, Politics and policy, Stablecoin /

Key Insight: Fed Vice Chair for Supervision Michelle Bowman said she wants banks to have an even playing field with nonbanks when it comes to holding digital assets, though stressed this should be done in a way that promotes safety and soundness.  Expert quote: “We want to make sure [banks are] engaging in a way that separates

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Tim Scott

Sen. Scott thanks crypto industry for unseating Sherrod Brown

Politics, Politics and policy, Stablecoin /

Sen. Tim Scott, R-S.C.Bloomberg News WASHINGTON — Senate Banking Committee Chairman Tim Scott, R-S.C. publicly acknowledged the role that the crypto industry had in unseating former chairman Sherrod Brown, a longtime banking progressive, from the Senate.  Scott’s comments, made at the Wyoming Blockchain Symposium just ahead of the Federal Reserve’s Jackson Hole Summit, were a

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BNY beats estimates, stays mum on merger rumors

BNY, Cryptocurrency, Earnings, Stablecoin /

UPDATE: This article now includes details from BNY’s earnings call and comments from CEO Robin Vince. The Bank of New York Mellon had plenty of updates to provide about its estimate-beating second quarter, but there was one topic on which the bank’s executives kept quiet. In recent weeks, reports have circulated that BNY has held

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