Bank Accounts News

Banks argue that stablecoin rewards offered through exchanges exploit a GENIUS Act loophole, blurring the line between payment tokens and savings accounts.

Cato Institute analyst Nicholas Anthony argues the US Congress needs to reform the Bank Secrecy Act, repeal confidentiality laws and end reputational risk regulation to address debanking.

Custodia Bank is asking the full Tenth Circuit Court of Appeals to review the US Fed’s decision denying it a master account, which would allow it to process payments directly.

Strike CEO Jack Mallers said JPMorgan closed his accounts without explanation, reigniting fears of Operation Chokepoint 2.0 and renewed pressure on crypto companies.

As of 2024, at least one-third of commercial banks were exploring or piloting tokenized deposits, according to a survey by the Bank for International Settlements.

Tokenized bank deposits lack the flexibility and technical features of stablecoins, making them an inferior product, according to Omid Malekan.

A growing demand for stablecoin payments and tokenized real-world assets is creating more institutional interest in blockchain-based services, according to IBM.

Tether has notched its 500 millionth user of its USDT stablecoin, an achievement its CEO Paolo Ardoino said is “likely the biggest financial inclusion achievement in history.”

Industry watchers welcomed the idea of “skinny” master accounts as another sign of the end of crypto’s banking troubles, which insiders described as “Operation Chokepoint 2.0.”

Vietnam is reportedly closing 86 million bank accounts. Crypto advocates see it as the latest reason everyone should hold Bitcoin.

UBS, Sygnum Bank and PostFinance completed a blockchain study proving the technology’s efficacy for bank deposits and institutional payment infrastructure.

Evgeny Masharov, a member of the Russian Civic Chamber, says Russia should start a crypto exchange through a major financial institution.

Despite blockchain’s decade-long presence in finance, many industry veterans remain skeptical about its practicality and necessity.

Big banks have closed thousands of customer accounts without warning or explanation to their customers. Saturday Night Live treated victims like a joke.

The account services for crypto firms come at a time when United States-based companies are struggling to find local banking partners and are frequently looking abroad.