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The Federal Reserve Board of the United States and the Washington State Department of Financial Institutions have announced an enforcement action against Farmington State Bank, a financial institution whose parent company received more than $11 million from Alameda Research.In an Aug. 17 announcement, the Fed said the enforcement action was
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The judge overseeing the civil case of the United States Securities and Exchange Commission (SEC) against Ripple Labs plans to schedule a jury trial starting in the second quarter of 2024.In an Aug. 9 filing in U.S. District Court for the Southern District of New York, Judge Analisa Torres said
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Back then, most central banks, including the Fed, were pumping record amounts of money into the system through zero interest rate policy and unlimited bond buying to help the global economy absorb the shock from the coronavirus pandemic. They are unlikely to revert to the ultra-easy policy in the near
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied New York federal judge granted permission to the SEC to proceed with its case against Terraform Labs Pte and its founder, Do Kwon. Judge Rakoff’s decision involved rejecting the differentiation drawn in the Ripple case regarding public
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Major U.S. financial regulators - the Consumer Financial Protection Bureau (CFPB), the Commodity Futures Trading Commission (CFTC), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve System, the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Securities and Exchange Commission (SEC) -
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San Francisco's Federal Reserve Bank is seeking a crypto architect for a central bank digital currency (CBDC) project, reveals an Indeed job posting. According to the role description, the employee will work on CBDC research and development.The position is full-time and hybrid, with an annual salary starting at $134,900, requiring candidates
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The U.S. Federal Reserve denies that its new instant payments service, FedNow, is in any way tied to the digital asset space. But experts say the new system could lay the groundwork for the infrastructure needed for a potential central bank digital currency (CBDC) in the U.S. And so this
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The United States Federal Reserve has officially launched FedNow, an instant payment service offering round-the-clock payments and settlements. Initially, the service has a transaction limit of $100,000 per customer, which could be later extended to $500,000. The
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The Fed says its new service will operate for 24 hours every single day. While continuing to use commercial banks as intermediaries, central bank officials have previously said it will allow payments to be processed in a matter of seconds, something that’s already the norm in many other jurisdictions across
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The United States Federal Reserve clarified that its new service for instant payments between organizations — the FedNow Service — has no relation with central bank digital currencies (CBDCs).The Fed certified the FedNow Service as “ready” after it onboarded 41 financial institutions, 15 service providers and the U.S. Department of
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