A New Crypto Banking System Arises Under the Shadow of a Regulatory Crackdown

(Bloomberg) -- Two months after the collapse of Silvergate Capital Corp. and Signature Bank, a new banking landscape for crypto companies is taking shape amid an expanding crackdown on the industry in the US. Most Read from BloombergAmericans Are Leaving Portugal as Golden Visa Honeymoon EndsDonald Trump Charged in Florida Over Secret Documents CaseRussian Elite Is Souring on Putin’s Chances of Winning His WarLeaving New York for Miami Can Save Nearly $200,000S&P 500 Enters Bull Market as Tech R

• 2023-06-09
• Signature Bank open bank accounts Bloomberg News Customers Bancorp Inc. bank account Bloomberg digital assets banking system deposit accounts industry participants

HK Regulators to Host Meeting to Help Crypto Firms With Banking

(Bloomberg) -- Hong Kong regulators are convening a meeting between crypto firms and bankers in a bid to ease financing for the sector as the city seeks to establish itself as a hub for virtual assets. Most Read from BloombergFBI Releases Files on Ivana TrumpSchwab’s $7 Trillion Empire Built on Low Rates Is Showing CracksBinance and Its CEO Sued by CFTC Over US Regulatory ViolationsSaudi National Bank Chair Resigns After Credit Suisse RemarkThe round-table will take place on April 28 at the Hong

• 2023-03-28
• Hong Kong Monetary Authority Bloomberg News Bloomberg Hong Kong digital assets virtual assets

Chinese Banks Court Crypto Firms in Hong Kong After Mainland Ban

(Bloomberg) -- Crypto firms rushing into Hong Kong after the city opened its doors to the battered sector are finding a surprising source of potential support: China’s state-owned banks.Most Read from BloombergFirst Citizens Nears Deal to Buy Silicon Valley Bank, Sources SayBond Traders Go All-In on US Recession Bets That Defy Fed ViewPutin Ups the Ante With Nukes in BelarusGreenland Solves the Daylight Saving Time DebateChinese banks have been directly reaching out to crypto businesses over the

• 2023-03-27
• Hong Kong Signature Bank Bank of China bank account Shanghai Pudong Development Bank Bloomberg News Chinese bank banking services digital asset bank accounts Bloomberg

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(Bloomberg) -- The rescue plan for embattled crypto exchange Zipmex is beginning to fray after the company failed to receive the most recent payment due under a $100 million venture capital buyout.Most Read from BloombergJack Dorsey’s Block Vows to Fight Back After Hindenburg Says It’s Short the StockUBS Sends Khan to Stem Credit Suisse’s Private Banker ExitsJack Dorsey’s Wealth Tumbles $526 Million After Hindenburg ShortUS Fears a War-Weary World May Embrace China’s Ukraine Peace BidCredit Suis

• 2023-03-24
• Bloomberg Bloomberg News Zipmex Technology Co. Zipmex Thoresen Thai Agencies Pcl

PayPal pauses stablecoin work amid regulatory scrutiny of crypto - Bloomberg News

PayPal had hoped to debut the stablecoin, which will be backed one for one by the dollar, in the coming weeks, Bloomberg reported, citing a person with knowledge of the matter. The macroeconomic weakness has also begun to pressure growth at PayPal's core business as consumer spending, particularly discretionary purchases, comes under pressure due to a cost-of-living crisis, triggered by decades-high inflation.

• 2023-02-11
• PayPal New York State Department of Financial Services Bloomberg News