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House passes bill to repeal OCC true lender rule

House passes bill to repeal OCC true lender rule
thehill.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehill.com Daily Mail and Mail on Sunday newspapers.

Playing catch-up in crypto, banks ask core providers for help

Playing catch-up in crypto, banks ask core providers for help
americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.

Senator Sherrod Brown, Chair of Senate Banking Committee, Presses OCC on Crypto Bank Charters Putting Fintech Innovation at Risk

Facebook-backed Diem withdraws FINMA application, shifts to US

Dive Brief: The Facebook-backed Diem Association is withdrawing its application for a payments system license from the Swiss Financial Markets Authority (FINMA) and will move its primary operations to the U.S. from Switzerland, it said Wednesday. The association said its subsidiary, Diem Networks U.S., will instead register as a money services business with the Treasury Department s Financial Crimes Enforcement Network (FinCEN) and run a blockchain-based payment system that allows the real-time transfer of U.S. dollar-backed stablecoins. La Jolla, California-based Silvergate Bank will become the exclusive issuer of the stablecoin, Diem USD, and will manage the currency reserve, the association said. 

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