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Lawmakers should also beef up the department's powers under the Bank Secrecy Act (BSA), allowing for the "targeting of cryptocurrency entities and services that facilitate funding for terrorists," the proposal said. It calls for a new category of financial institutions under the BSA that would include "cryptocurrency exchanges, Virtual Asset
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JPMorgan figures for Q3 2023 exceeded expectations like it did in Q2. However, figures like revenue and EPS were higher last quarter. JPMorgan Chase (NYSE: JPM) has published an earnings report for the year’s third quarter. The reported figures show that JPMorgan scaled analysts expectations for profit in Q3 2023. JPMorgan Q3 2023 JPMorgan
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Brian Armstrong, CEO of major United States-based cryptocurrency exchange Coinbase, has condemned the decision of JPMorgan’s subsidiary Chase UK to restrict crypto-related transactions.Armstrong took to X (formerly Twitter) on Sept. 26 to slam Chase Bank for its “totally inappropriate” move to ban its customers in the United Kingdom from making
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Chase U.K. will block all crypto payments over fraud and scam allegations. Chase U.K., a U.K. entity of the global bank, warned its customers that starting Oct. 16, it will block all crypto-related payments in an email to the customers. The email specified that customers are still free to interact with
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Chase Bank, a digital bank owned by the investment bank JPMorgan, will restrict all cryptocurrency-related transactions for its customers in the United Kingdom.Starting from Oct. 16, customers of Chase Bank in the U.K. will no longer be able to make crypto transactions using their debit cards or through outgoing bank
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Starting Oct. 16, the bank will decline customer attempts to make payments related to crypto assets. Source
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Finserv giant JPMorgan Chase filed a trademark application for IndexGPT, marking its entry into the race to build a generative AI tool for business purposes.The trademark application was filed with the United States Patent and Trademark Office (USPTO) on May 11 for the characters “IndexGPT,” which according to JPMorgan, is
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The fact that established players are also coming into the space, merging blockchain technology with traditional finance, also fuels growth, according to Doug Schwenk, chief executive officer of Digital Asset Research, a research and crypto data provider for institutional clients. Original Source
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American multinational banking giant JPMorgan Chase has emerged as the lucky buyer of the embattled regional banking firm, First Republic Bank. As reported by CNBC, JPMorgan Chase & Co (NYSE: JPM) acquired all of the deposits of First Republic Bank (NYSE: FRC) and a substantial number of its shares. The acquisition was
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On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) seized First Republic Bank, placing it into Federal Deposit Insurance Corporation (FDIC) receivership. According to reports, this move came after the bank’s financial troubles made it insolvent and unable to meet its obligations. Following the seizure, JPMorgan
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