Goldman Sachs Mentions Crypto in Shareholder Letter, Says Tech Raising Competition in Banking Industry

March 16, 2025 The Daily Hodl

The financial services giant Goldman Sachs is telling shareholders that its competitors are now offering crypto products and services that the bank doesn’t. In its 2024 Annual Report, Goldman Sachs says in some circumstances, rival firms are offering products that clients may prefer, such as specific digital assets, which Goldman cannot or choose not to […]

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Mass Banking Outage Sparks Doubts on EU’s Planned Digital Euro: Report

March 12, 2025 The Daily Hodl

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Vocal opposition to the European Central Bank’s (ECB) digital euro project reportedly swelled after the institution’s payment system crashed last month. TARGET2 (T2), the ECB’s real-time gross settlement system, went down in late February, which prevented payments from being processed for several hours. Now, some members of the European Parliament, a legislative body of the […]

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House Oversight Probes Biden’s FDIC for Crypto Banking Crackdown

March 1, 2025 Bitcoin.com

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The House Oversight Committee is investigating whether the FDIC’s delayed crypto oversight and banking restrictions were driven by political motives or unlawful regulatory overreach. House Oversight Committee Investigates FDIC’s Crypto Policies The House Committee on Oversight and Government Reform announced on Feb. 28 that Chairman James Comer (R-KY) is investigating the Federal Deposit Insurance Corporation’s […]

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Indonesia Introduces Bullion Banking to Stabilize Foreign Exchange

February 28, 2025 Bitcoin.com

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The country’s authorities opened bullion services in two state-owned institutions and declared that more licenses could follow. Prabowo Subianto, president of Indonesia, stated that this bullion initiative could “help save the country’s foreign exchange.” Indonesia Launches Bullion Banking, Aims to Include Gold Savers Into the Country’s Formal System Indonesia is launching formal bullion-based banking, joining […]

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Congress Pushes 5 Urgent Banking Reforms to Stop Debanking

February 22, 2025 Bitcoin.com

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Lawmakers are demanding urgent FDIC action to end “debanking,” warning that unchecked regulatory power threatens financial access and could be weaponized against lawful businesses. 5 Recommendations to End ‘Debanking’: Congress Pressures FDIC to Act Now House Financial Services Committee Chairman French Hill, along with Representatives Dan Meuser, Andy Barr, and Bryan Steil, have urged the […]

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Russia Sent $5,000,000,000 Through JPMorgan and Citigroup in Alleged Scheme To Evade Sanctions: Report

February 15, 2025 The Daily Hodl

Russia Sent ,000,000,000 Through JPMorgan and Citigroup in Alleged Scheme To Evade Sanctions: Report

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Russia reportedly sent a whopping $5 billion through banking giants JPMorgan Chase and Citigroup in a scheme to skirt US sanctions. According to a report from the Wall Street Journal citing “people familiar with the matter,” investigators at the Justice Department (DOJ) believe Russia used a state-controlled bank to move billions of dollars through correspondent […]

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Ponzi Scheme Mastermind Sentenced To 45,376 Years in Prison Over $131,000,000 ‘Farm Bank’ Scam

February 13, 2025 The Daily Hodl

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The creator of a mobile gaming app that was later deemed to be a Ponzi scheme has been sentenced to many lifetimes in prison. An Istanbul court has sentenced Mehmet Aydin, the creator of Çiftlik Bank (“Farm Bank”), to 45,376 years in prison for embezzling large sums of money from hundreds of thousands of people. […]

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FDIC Releases 175 Crypto Banking Docs, Signaling Regulatory Overhaul

February 7, 2025 Bitcoin.com

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The FDIC’s release of 175 documents marks a major shift toward transparency, signaling new opportunities for banks to engage in crypto as regulators reassess outdated policies. Regulators vs. Crypto: FDIC Signals New Approach With Massive Document Dump The Federal Deposit Insurance Corporation (FDIC) released 175 documents on Feb. 5, detailing its oversight of banks engaged […]

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US Lawmakers Fight to End Crypto Banking Blacklist—Chokepoint 2.0 Under Fire

February 5, 2025 Bitcoin.com

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U.S. lawmakers are ramping up efforts to dismantle “Operation Chokepoint 2.0,” vowing to end regulatory overreach and restore fair banking access for the thriving crypto industry. Lawmakers Push Back Hard Against Crypto Banking Blacklist—Crackdown Challenged Efforts to dismantle “Operation Chokepoint 2.0” continue to gain traction, with lawmakers pushing back against alleged regulatory overreach targeting the […]

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CFPB proposes crypto firms refund users for funds lost to hacks

January 10, 2025 Coin Telegraph

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A proposed CFPB rule could allow crypto users to have protections similar to those of US bank account holders by considering the definition of “funds.”

The US Consumer Financial Protection Bureau (CFPB) has proposed a rule that could require crypto asset service providers to reimburse users for funds stolen through illicit activities, including hacks.

In a Jan. 10 notice, the CFPB proposed a rule that could allow accounts or wallets using “emerging payment mechanisms” set up for personal use to be subject to similar protections as fiat bank accounts.

The US regulator suggested that the same rights that “guard against error and fraud” under the Electronic Fund Transfer Act (EFTA) could protect consumers transacting in stablecoins or “any other similarly-situated fungible assets that either operate as a medium of exchange or as a means of paying for goods or services.”

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