Martin Gruenberg, the man who previously expressed a desire to explore risks tied with virtual currencies, was nominated by President Joe Biden as the new FDIC head, pending Senate confirmation.
Jefferson Noel delves into the importance of financial literacy amid growing interest in digital assets and seeks to help common people gain insight into the industry through his Crypto Convos.
Thirty four employees critical of Voyager will get $1.6 million in bonuses following a court ruling, while investors fight to recover their monies as the digital assets lender faces bankruptcy.
Several digital asset entities were served cease-and-desist letters for falsely claiming that the FDIC insures a number of their crypto-related products.
FDIC insurance doesn’t protect against insolvency, default, or bankruptcy of any non-bank entity such as digital asset exchanges, custodians, or brokers.
The Federal Reserve and FDIC claim that Voyager made "false and misleading statements, directly or by implication, concerning Voyager's deposit insurance status."
In the letter released last week, the agency instructs those institutions falling within the FDIC remit to notify the agency promptly before engaging in a digital asset-related activity.
The OCC, the FDIC and the Federal Reserve have said in a joint statement that they’ll focus on a long-term policy strategy in 2022 after this year’s policy sprints.
The FDIC is working with the Federal Reserve and other agencies on how to regulate the digital currency industry, with one of its proposals being that all stablecoins must prove that they are backed 1:1 by highly liquid assets.
The Federal Deposit Insurance Corporation (FDIC) has issued a request for information and comment on digital assets, in a bid to learn more about how institutions are currently using digital assets.
The body, which protects bank deposits in the U.S. via a compulsory insurance scheme for financial institutions, id looking for information on “current and potential digital asset use cases” for insured institutions.
The U.S. Federal Deposit Insurance Corporation is looking for a new legal counsel to analyze and advise on matters relating to financial technology.
