Tag: Crypto regulation

The Federal Reserve Board has withdrawn its 2023 policy statement that imposed strict limits on state member banks engaging in novel activities, including crypto-asset services. A new policy statement introduces case-by-case approvals for uninsured state banks, facilitating responsible innovation in the sector. This regulatory shift aligns with broader changes under the Trump administration, potentially easing access for...

PayPal seeks bank status: The company has applied to create PayPal Bank in Utah to bolster small business lending and offer interest-bearing savings. Crypto angle: As issuer of PYUSD, the move could integrate stablecoin settlements into regulated banking. Regulatory context: Follows recent approvals for crypto firms like Circle and Paxos. PayPal Holdings has submitted applications to establish an industrial bank in Utah,...

The American Federation of Teachers (AFT) has called on the US Senate to abandon the Responsible Financial Innovation Act, citing significant risks to retirement security. The union argues the bill strips safeguards from crypto assets and weakens protections for traditional securities, allowing tokenized stocks to evade regulation. Sponsored by Senators Cynthia Lummis and Kirsten Gillibrand, the legislation seeks to establish a...

The Corporations Amendment (Digital Assets Framework) Bill 2025 establishes licensing requirements for crypto exchanges and custody providers. Platforms handling assets like Bitcoin and stablecoins must obtain an Australian Financial Services Licence and adhere to strict conduct rules. The reform could unlock up to A$24 billion in annual productivity gains while aligning crypto with traditional finance regulations. ...