OCC Highlights Major Concerns Over Crypto Debanking Practices Among Major Banks

Senator Bragg says that his government won’t let Aussie banks to practice anticompetitive de-banking against crypto companies. Australian banks have been dressing up anti-competitive behavior as regulatory compliance when de-banking crypto customers, Senator Andrew Bragg said. “I believe many banks have been dressing up de-banking as a regulatory necessity. In fact it is often anti-competitive behavior and far more sinister and threatening than it appears on the surface,” the Liberal Senator for New South Wales said in a prepared address to the Tech Council of Australia tod. Denial of....

Many respondents from major banks said the technology would likely be unimportant for liquidity management practices until 2027. A survey conducted by the Federal Reserve Board of the United States suggested that the majority of officials at major banks did not consider crypto-related products and services a priority in the near future.According to the results of a Fed survey released on Friday, more than 56% of senior financial officers from 80 banks said distributed ledger technology and crypto products and services were “not a priority” or were “a low priority” for their growth and....

The governor of the Reserve Bank of India (RBI), Shaktikanta Das, has clarified the central bank’s position regarding cryptocurrency. His statements followed a notice published by the RBI telling banks that its crypto banking restriction is no longer valid and cannot be cited. RBI Still Has Major Concerns About Crypto RBI Governor Shaktikanta Das clarified the central bank’s position on cryptocurrency In a post monetary policy press meeting Friday. Emphasizing that “There is no change in RBI’s position” regarding cryptocurrencies, Das said: With regards to....

India’s central bank governor Shaktikanta Das has revealed that the bank has “major concerns” about cryptocurrencies, and it has informed the government of them. He expects that the government will soon make a decision on cryptocurrency. Meanwhile, the Reserve Bank of India (RBI) is giving its full attention to the digital rupee. RBI Has Major Concerns About Cryptocurrencies The governor of India’s central bank expressed concerns over the possible impact made by cryptocurrencies on the country’s financial stability and the economy Wednesday. In an interview....

Bank of America, one of the world’s largest banks, is bemoaning that it will suffer a loss of US$232 million for the third quarter. The amount said to be related to legal costs surrounding a global investigation into the foreign exchange trading practices of a number of major banks, Bank of America included. The foreign exchange market is a US$5.3 trillion a day market but is also one of the least regulated of all markets. This might seem like a lot of money for “legal costs” but the fact is that this bank was forced to add US$400 million to its legal reserves due to the settlements they....