Tag: Bank

China’s Tax Authority Urges Bank Blockchain Implementations for Lending

China’s tax and financial regulators on Monday urged banks and local authorities to use blockchain and privacy computing to upgrade the “bank-tax interaction” model and expand financing for small businesses. The State Administration of Taxation and National Financial Regulatory Administration said in a joint policy notice that banks and taxpayers should standardize data sharing and reduce information asymmetry between tax authorities, banks and enterprises. The report also urged banks to improve credit models, enhance credit approval efficiency and increase the supply of financing services to “honest, tax-paying enterprises.” The directive…

Coinbase Clarifies ‘We Are Not Becoming a Bank’ After Receiving Conditional OCC Nod That Hints at Bigger Moves – Exchanges Bitcoin News

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Coinbase OCC Trust Charter Signals Federal Crypto Oversight Shift Crypto exchange Coinbase (Nasdaq: COIN) said it is not becoming a bank after announcing on April 2 that it received conditional approval from the Office of the Comptroller of the Currency (OCC), clarifying its regulatory direction. The move signals a shift toward federal oversight of crypto infrastructure while preserving a non-bank model focused on custody and institutional services. Brian Armstrong, CEO of Coinbase, shared on social media platform X that the approval does not signal a transition into banking activities. He…

PSA Rules, JPY Coins and Bank Issuers – Featured Bitcoin News

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Japan’s Stablecoin Rules JPYC Co. launched what regulators and the company call the world’s first fully regulated yen-pegged stablecoin in October 2025, capping a decade of cautious financial architecture that Tokyo began laying well before most governments acknowledged digital money existed. The milestone did not arrive by accident. Japan’s Financial Services Agency (FSA) spent years designing a framework that would make a collapse like Terra/Luna structurally impossible on its soil, and the rules it finalized through amendments to the Payment Services Act tell you exactly where the country’s priorities landed.…

ICBA Opposes OCC’s Conditional Nod For Coinbase National Trust Bank Charter

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The Office of the Comptroller of the Currency (OCC) granted Coinbase (COIN) a conditional approval for a national trust bank charter, a move that would place the crypto exchange among a small group of five digital-asset firms — including Ripple, Circle (CRCL) — that have received similar tentative sign-offs from the agency.  If the charter is finalized, Coinbase would be able to expand beyond custody services to offer payment products and other infrastructure under federal supervision, Coinbase’s chief legal officer, Paul Grewal, told CNBC. Coinbase Eyes Broader US Payments Suite …

SoFi Technologies Launches First National Bank Enterprise Crypto and Stablecoin Platform – Bitcoin News

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SoFi Launches Big Business Banking With 24/7 Fiat and Crypto Settlement for U.S. Enterprises SoFi Technologies (Nasdaq: SOFI) made the announcement on Thursday, positioning the product as direct competition to the legacy banking model that shuts down at 5 p.m. on Fridays. The offering targets institutions and enterprise clients that need to operate across both traditional and digital finance without patching together multiple providers and custodians. CEO Anthony Noto framed the gap plainly. “To be competitive, businesses today must operate in a global, always-on environment 24 hours a day, 7…

Central Bank of Nigeria Selects Six Entities for New Virtual Asset Pilot – Africa Bitcoin News

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Six VASPs Tapped for New Supervisory Pilot The Central Bank of Nigeria has officially launched an anti-money laundering and counter-financing of terrorism supervisory pilot program. The new pilot is designed to align Nigeria with the Financial Action Task Force (FATF) Recommendations 15 and 16—specifically the travel rule, which requires virtual asset service providers to share originator and beneficiary information for transactions. Only a few years ago, the Nigerian crypto landscape was defined by friction. In February 2021, the CBN effectively barred commercial banks from servicing crypto exchanges. However, following the…

Charles Schwab-Backed EDX Markets Applies for National Trust Bank Charter With OCC  – Crypto News Bitcoin News

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EDX Markets Holding Company Files OCC Charter Application for Crypto Trust Bank The application was made public on Wednesday, April 1, and first reported on by Bloomberg. It requests full fiduciary powers under 12 U.S.C. § 92a and authorization to provide digital asset custody, asset management, and settlement services exclusively for institutional clients. The proposed main office is located at 200 W. Madison, Suite 1450, Chicago, IL 60606. EDX Markets launched in June 2023 as an institutional-only cryptocurrency exchange. Its founding backers include Citadel Securities, Fidelity Digital Assets, Charles Schwab,…

EDX Markets Applies for OCC Trust Bank to Expand Crypto Services

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EDX Markets, an institutional crypto exchange, has applied to the US Office of the Comptroller of the Currency (OCC) to establish a national trust bank that would provide crypto custody, asset management and trade-settlement services. The proposed entity, EDX Trust, would operate as a non-depository national bank, separating custody and settlement from trading while continuing to route order matching through EDX’s existing platform. In its application, the company said the model is intended to address structural risks in crypto markets, where trading, custody and brokerage are often combined within a…

Tokenization Could Save Australian Economy $16.7 Billion Annually, Aussie Central Bank Reports – Featured Bitcoin News

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Project Acacia Findings The Reserve Bank of Australia has officially moved past the “trial phase” of digital finance, signaling a major shift toward the real-world implementation of tokenized assets and wholesale digital currencies. In a key speech delivered March 25, RBA Assistant Governor Brad Jones made it clear: The question is no longer if Australia will adopt these technologies, but how it will scale them to protect the nation’s financial stability. Jones made the remarks while unveiling the findings of Project Acacia, a research initiative that maps out a future…

Deutsche Bank Analysis Flags Iran War as Turning Point for US Dollar Dominance – Bitcoin News

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Chinese Yuan Could Replace Dollar in Hormuz Oil Trade as Iran Conflict Deepens, Deutsche Bank Says The bank’s March research note, authored by strategist Mallika Sachdeva, frames the ongoing US-Israel-Iran conflict as what she calls “a perfect storm for the petrodollar.” The analysis arrives as crude oil markets process fresh volatility and policymakers watch one of the world’s most consequential shipping corridors for signs of structural change. The petrodollar arrangement dates to 1974, when Saudi Arabia agreed to price its oil exports in U.S. dollars in exchange for American security…