Malta To Get A Blockchain Bank

It seems that Malta is about to get a bank that will finally begin servicing crypto and blockchain companies as well as high net worth individuals, who until recently, have been shunned by traditional banks on the so-called ‘Blockchain Island’. OK Group’s investment arm, OK Blockchain Capital Limited, announced that it is the anchor investor …

Deutsche Money Laundering Scandal Shows Biased Crypto Narrative

Germany’s largest financial institution Deutsche Bank had its Frankfurt headquarters raided by the local authorities under the suspicion of money laundering. While crypto continues to be targeted by the press for the alleged usage of decentralized systems by criminals, a growing number of banks are being investigated for processing payments for criminal organizations. On November …

US State Banking Regulator Sues Government Over Fintech Special Charter

The US regulatory body for state banking has filed a lawsuit against the federal government for granting bank charters to fintech companies. The complaint calls into question the leniency of fintech “sandbox” charters. The Office of the Comptroller of the Currency (OCC), an arm of the US Department of the Treasury, has awarded these special charters to many …

Singapore’s Central Bank Will Aid Crypto Startups in Opening Bank Accounts

Ravi Menon, the chief of Singapore’s defacto central bank and regulator, has backed domestic cryptocurrency startups and exchanges to gain banking services in the technology-forward city-state. Monetary Institute of Singapore (MAS) managing director Ravi Menon has called for the banking industry to get over the “hurdle” of offering services to domestic cryptocurrency startups in a …

Caitlin Long on Crafting Positive Cryptocurrency Regulations

Note: This is part 2 in a multi-part interview series with Caitlin Long, a 22-year Wall Street veteran who formerly led Morgan Stanley’s Pension Solutions Group. Long, an ardent blockchain advocate, has been critical of Wall Street’s corrupt banking practices, which she fears institutions will integrate into their cryptocurrency products and services. Read part 1 here. Part …

Does Bank of America’s Crypto Custody Show Irrelevance of Bitcoin ETF?

This week, $312 billion Bank of America (BoA) filed a patent to offer crypto custody, targeting large-scale institutional investors and retail traders. Some experts have said that the efforts of major financial institutions to create institutional products around cryptocurrencies will bolster the adoption of crypto in US markets, which will naturally lead to other publicly …

NY BitLicense Chief Clashes with U.S. Treasury over Fintech Banking Charters

The New York State Department of Financial Services (DFS) has stated its opposition  to the U.S. Department of Treasury’s endorsement of regulatory “sandboxes” for fintech companies that essentially allow fintechs to receive special bank charters, according to a statement on its website by Maria T. Vullo, DFS superintendent and overseer for the state’s BitLicense regime. The …

Brazilian Cryptocurrency Exchange Wins Case Against Bank Who Closed Account

Brazilian cryptocurrency exchange Walltime has recently won a court battle against local bank Caixa Econômica Federal, forcing it to unfreeze its account holding more than $200,000 worth of funds. Crypto Exchange Walltime Wins Preliminary Injunction Against Hostile Bank According to local news outlet Portal do Bitcoin, Walltime won a preliminary injunction, meaning the court’s decision …