The European Commission has implemented a new clause in the MiCA, the EU crypto regulation legislation, that requires banking institutions operating within the Union’s 27 countries to disclose information regarding the availability of reserves in digital currencies.
Moody’s believes the introduction of cross-border transaction technology related to CBDCs could be detrimental to banks as the new infrastructure would reduce their role significantly.
Xapo Bank has partnered with financial technology company Circle to introduce USD Coin (USDC) payment rails as an alternative to SWIFT.
Signature Bank was reportedly able to resolve their outflow of deposits by the time the New York state regulator had chosen to close the financial institution.
HSBC has announced it has acquired the British “daughter” of Silicon Valley Bank for £1 ($1.21).
Banks have stopped cooperating with crypto firms due to fears of reprisals from regulators.
Banking group National Australia Bank (NAB) has announced that it is currently developing a secured stablecoin AUDN.
