News
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
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Banks News
While one of the goals of cryptocurrencies is to render traditional banking obsolete, banks as a financial institution still play a critical role in the advent and adoption of the emerging crypto economy in two ways.
Firstly, outside of a physical cash exchange for cryptocurrency, banks provide the fiat bridges to cryptocurrency markets. Without them, the influx of capital and interest in the blockchain industry would be nowhere near the magnitude it is today.
Secondly, many of the world’s leading banks are researching and, in some cases, developing their own central bank digital currencies, or CBDCs, which aim to secure hegemony in the digital asset space largely in response to the growth of the crypto economy.
As digital finance evolves before our eyes, banks as a commonplace financial organization may change drastically in their role and purpose in society — even if it leads to obsolescence.
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Santander’s digital bank has launched crypto trading in Germany, with a rollout to Spain planned as Europe’s largest lenders accelerate crypto services.
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UBS, Sygnum Bank and PostFinance completed a blockchain study proving the technology’s efficacy for bank deposits and institutional payment infrastructure.
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Coinbase rejected claims that stablecoins drain US bank deposits, arguing most activity happens overseas and boosts the US dollar’s global strength.
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Atkins signaled a departure from the enforcement-first approach of the SEC during Gensler’s leadership, including preliminary notices prior to enforcement actions.
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Thailand froze three million bank accounts in an anti-scam crackdown, ensnaring users and prompting debate over whether Bitcoin offers a safer alternative.
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Chinese regulators are reportedly preparing to restrict mainland state-owned enterprises and banks from pursuing stablecoin and crypto initiatives in Hong Kong.
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Sate Senator Keith Kelley of Alabama echoed concerns made by some banking groups after the passage of the GENIUS Act in July.
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Bitwise investment chief Matthew Hougan says banks should pay their customers higher interest rates if they’re worried about competition from stablecoins.
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BNP Paribas and HSBC are the latest institutions to join the Canton Foundation, signaling growing institutional adoption of real-world asset tokenization.
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Ripple will provide crypto custody services to Spain’s BBVA bank, expanding its existing partnership amid MiCA-driven adoption by European banks.
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Lagarde urged EU lawmakers to close gaps in regulating foreign-issued stablecoins, warning of redemption risks and euro outflows without stricter equivalence regimes.
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While Fed Governor Lisa Cook attempts to argue against her dismissal in court, the central bank said it will hold an October event to address innovation in payments.
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US Bancorp resumed digital asset custody services for institutional clients following the SEC rule rollback under the Trump administration.
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Bitcoin’s sell-off accelerates as macroeconomic challenges prompt stock and crypto traders to cut risk.
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