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INSTITUTIONS News - Blockchain.News

CRYPTOCURRENCY

Exploring the Crypto Maturity Journey for Financial Institutions in 2024
cryptocurrency

Exploring the Crypto Maturity Journey for Financial Institutions in 2024

Chainalysis introduces a comprehensive framework for traditional financial institutions to develop cryptocurrency offerings in 2024, focusing on iterative stages of adoption and regulatory compliance.

SEC's Upcoming Decision on Bitcoin ETFs and the Implications
cryptocurrency

SEC's Upcoming Decision on Bitcoin ETFs and the Implications

The SEC's anticipated decision on Bitcoin ETFs, expected by January 2024, could significantly boost U.S. crypto adoption, balancing financial institutions' interests and legal challenges.

US Government Removes Cryptocurrency AML Provisions from NDAA
cryptocurrency

US Government Removes Cryptocurrency AML Provisions from NDAA

The US government has removed two AML provisions relating to cryptocurrencies from the NDAA, indicating a cautious approach to crypto regulation and raising concerns about future AML measures.

Tripling of Bitcoin Millionaire Wallets in 2023: A Deep Dive into the Crypto Wealth Explosion
cryptocurrency

Tripling of Bitcoin Millionaire Wallets in 2023: A Deep Dive into the Crypto Wealth Explosion

In 2023, the number of Bitcoin wallets with over $1 million increased by 237%, indicating a significant shift in cryptocurrency wealth and market dynamics.

ECB Advances Digital Euro Project into Preparation Phase
cryptocurrency

ECB Advances Digital Euro Project into Preparation Phase

The ECB's progression into the preparation phase of the digital euro project marks a pivotal step towards modernizing Europe's financial infrastructure. The digital euro, envisioned as a secure, accessible, and private means of digital payment, holds the promise of fortifying the European monetary system in the digital age.

Public Worry Grows Over Bank Stability
cryptocurrency

Public Worry Grows Over Bank Stability

A recent Gallup poll conducted in the US revealed that 48% of respondents are concerned about their money in the bank, with almost 20% "very concerned." Experts at a think tank postulate that if half of uninsured savers withdrew all of their cash, 186 American banks would be at risk of impairment. Additionally, research suggests that half of the banks in America could be insolvent.

US Treasury Suggests Easier Oversight for Nonbank Financial Institutions
cryptocurrency

US Treasury Suggests Easier Oversight for Nonbank Financial Institutions

The US Treasury and top financial regulators have proposed new rules to ease the Federal Reserve's designation of nonbank institutions as systemically important. Treasury Secretary Janet Yellen raised concerns over nonbank institutions' lack of supervision and the potential for financial contagion during periods of distress.

Ackman Urges US Government to Guarantee SVB Deposits
cryptocurrency

Ackman Urges US Government to Guarantee SVB Deposits

Billionaire hedge fund manager Bill Ackman has warned the US government that failing to guarantee all deposits held by Silicon Valley Bank (SVB) within 48 hours could result in the destruction of several financial institutions. Ackman argued that a "giant sucking sound" would be heard from the withdrawal of substantially all uninsured deposits from all banks, which would lead to a drain on liquidity from community, regional, and other banks.

Next House Committee Chair Reintroduces Crypto Innovation Bill
cryptocurrency

Next House Committee Chair Reintroduces Crypto Innovation Bill

Representative Patrick McHenry has proposed legislation to establish innovation offices in financial services institutions. Companies might request enforceable compliance agreements with federal financial agency offices under the law. In 2018, the SEC opened FinHub, while LabCFTC, the CFTC's fintech research branch, began in 2019.

5% Global Business Transactions Expected to Utilize Blockchain Technology by 2028: SkyQuest
cryptocurrency

5% Global Business Transactions Expected to Utilize Blockchain Technology by 2028: SkyQuest

At least 5% of worldwide business transactions are expected to utilize blockchain technology by 2028, thanks to heightened activity in the fintech blockchain market, according to a report by research firm SkyQuest.

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