| Mobile Web

Search results for FDIC

Crypto

Banks move as stablecoins grow in battle to defend digital dollars

U.S. financial firms are preparing a joint payments infrastructure that would let bank deposits be transferred directly on blockchains, as stablecoins expand. The Clearing House is pushing a system for 24-hour clearing and settlement of tokenised deposits, linking blockchain transactions to existing fiat networks such as RTP and CHIPS. The push is supported by regulatory distinctions between stablecoins and tokenised deposits, while banks focus on preventing deposit outflows.

Crypto

U.S. Republican senators urge review of bank capital rules for bitcoin holdings

Republican U.S. senators urged financial regulators to revisit bank capital rules for digital assets, saying current standards impose excessive burdens on holdings such as bitcoin. A joint letter sent on May 27 to the Federal Reserve, FDIC and OCC called for a fairer, more consistent framework for digital assets on banks’ balance sheets. Lawmakers also questioned the Basel Committee’s 1,250 percent risk weight for certain cryptocurrencies.

Crypto

BlackRock urges changes to GENIUS Act implementing rules amid differences with OCC

BlackRock has urged the U.S. Office of the Comptroller of the Currency to withdraw a provision that would cap tokenised assets at 20 percent of stablecoin reserve assets, saying the limit is unnecessary. It said reserve-asset risk should be judged by liquidity, maturity and credit quality, not whether assets are tokenised. BlackRock also asked for clarity on what qualifies as eligible reserves, including whether Treasury ETFs qualify, and proposed adjustments to diversification options in the draft rules.