ChainCatcher news, according to Fox reporter Eleanor Terrett, the U.S. Senate Banking Committee will hold a hearing on February 5, focusing on the issue of "de-banking" of cryptocurrency companies by banks.Eleanor Terrett stated that this is the first-ever hearing on the topic of "de-banking" in U.S. history. Previously, the U.S. House Committee on Oversight and Government Reform sent letters to leaders of cryptocurrency companies, including Uniswap Labs CEO Hayden Adams, Coinbase CEO Brian Armstrong, and Kraken CEO David Ripley, requesting them to explain their experiences with "de-banking."

ChainCatcher news, according to the Economic Daily, the Financial Supervisory Commission (FSC) of Taiwan plans to propose a draft law for virtual asset service providers (VASP) in June 2025, allowing banks to issue stablecoins for the first time.FSC Chairman Peng Chin-long stated that stablecoins will serve as a bridge between fiat currency and virtual currency, providing investors with a trading entry point. All stablecoins issued in Taiwan must be approved by the FSC, including requirements for issuance qualifications and reserves. This policy will be coordinated with the central bank to clarify the distinction from CBDC and assess the application of stablecoins in the real economy.

ChainCatcher news, two technology trade organizations, TechNet and NetChoice, have filed a lawsuit against the Consumer Financial Protection Bureau (CFPB) challenging its regulatory approach of treating payment applications and digital wallets as banks. The lawsuit opposes the new rule released by the CFPB in December, which aims to expand regulation over "general digital consumer payment applications," primarily targeting large payment applications and non-bank financial service providers like digital wallets.Although the rule does not involve cryptocurrency wallet providers or decentralized wallets, its focus is on large non-bank companies. NetChoice litigation director Chris Marchese stated that the CFPB's expansion of power undermines the rule of law and could lead to higher prices and reduced choices.

ChainCatcher news, according to CoinDesk, Travis Hill, the vice chairman of the Federal Deposit Insurance Corporation (FDIC), recently expressed criticism of the FDIC's stance on digital assets during a public speech and called for banking regulators to issue new guidelines for digital assets. Hill was appointed to the board by the Republicans two years ago, and he criticized the FDIC's role in pressuring banks to abandon crypto clients.He stated, "The long-term goal of the FDIC is to reduce the number of unbanked individuals. It is unacceptable to deprive law-abiding customers of banking services, and regulators must work to put an end to this behavior. Anyone who overtly or covertly pressures banks to stop providing services to law-abiding customers has no place at the FDIC."Current FDIC Chairman Martin Gruenberg has informed agency staff that he will resign on January 19 (the day before Trump's inauguration). In the absence of the chairman, Vice Chairman Travis Hill will temporarily assume the role of chairman.

ChainCatcher news, according to Jinshi reports, based on the expectations of major investment banks, the forecast range for non-farm payrolls is 120,000 to 200,000, with most expectations concentrated between 140,000 and 185,000. The market consensus is 160,000; the market consensus for the unemployment rate is 4.2% (65% share), followed by 4.3% (30% share), 4.1% (3% share), and 4.4% (2% share). The less common the expected range is, the greater the impact on the market when the data falls within it.

ChainCatcher news, several Philippine banks, including UnionBank, Rizal Commercial Banking, Cantilan Bank, and Rural Bank of Guinobatan, plan to launch a peso stablecoin named PHPX later this year, initially operating on the Hedera Distributed Ledger Technology (DLT) network.This project is initiated by the Singapore startup Just Finance, and the banks will play a significant governance role. Cross-border payments, especially remittances, are one of the key use cases for this project.

ChainCatcher news, investment bank TD Cowen stated that the Trump administration could bring positive changes for crypto entities working with banks, but expectations for this new regulatory environment should be "within a reasonable range." The TD Cowen Washington research team, led by Jaret Seiberg, wrote in a report that banks have a responsibility to comply with Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) rules, and to manage risks such as liquidity and concentration.Analysts stated, "Even if Trump's regulators are less concerned about the increasing connections between traditional finance and cryptocurrencies, this could lead some banks to remain cautious, which is why some banks may still view the risks as too great while others seize the opportunity. Additionally, some crypto entities may refuse any government oversight. This could limit banks' comfort in working with them." Nevertheless, Jaret Seiberg indicated that under the Trump administration, the connection between traditional finance and cryptocurrencies will be "inevitable."

ChainCatcher message, according to a notification shared by José Maria Macedo, co-founder of Delphi Labs, one of Portugal's largest banks, Investimentos Globais (BiG), has begun to block fiat transfers to crypto platforms. The notification states that this move is to comply with guidelines issued by the European Central Bank (ECB), the European Banking Authority (EBA), and the Bank of Portugal regarding the provision of digital asset risks. Furthermore, this decision is driven by the need to ensure compliance with the country's anti-money laundering and counter-terrorism financing laws.BiG reported that assets under management approached €7 billion in 2023, equivalent to about $7.2 billion.It is worth noting that this situation is currently an isolated case. A user commented on Macedo's publication that fiat transfers to crypto platforms can still be made using Portugal's largest bank, Caixa Geral de Depósitos.Macedo criticized BiG's actions, stating: "Cryptocurrency is inevitable, banks are being eliminated, and these abuses of power will only drive more people to transfer their wealth onto the chain."

ChainCatcher news, Bitwise CEO Hunter Horsley retweeted insider Luis Berruga's disclosure: "Confirmed. Major banks in Spain are actively developing regulatory and operational frameworks to offer cryptocurrency ETPs. Some platforms like MyInvestor have already started doing this. The pace of adoption across Europe should accelerate in the coming months."

ChainCatcher news, according to Decrypt, based on the latest declassified documents obtained by Coinbase through the Freedom of Information Act (FOIA), the Federal Deposit Insurance Corporation (FDIC) had explicitly opposed its member banks using public blockchain networks to provide services.The documents reveal that the FDIC's New York office sent a letter to a member bank in March 2022, expressing concerns about the bank's plan to launch a "bank digital deposit" project on a public chain, and required a new detailed review before launching any public chain-based products. Additionally, the documents also show that the FDIC had requested member banks to suspend all services related to Bitcoin trading and cryptocurrency activities.Coinbase Chief Legal Officer Paul Grewal believes that these documents further confirm the existence of the Biden administration's "Operation Chokepoint 2.0," which aims to suppress the cryptocurrency industry through bank regulation.

ChainCatcher news, according to the Mobile Payment Network, on January 4, 2025, the digital renminbi App, led by the Digital Currency Research Institute of the People's Bank of China and co-built by operating institutions, will celebrate its 3rd anniversary.Since its launch 3 years ago, the digital renminbi App has undergone approximately 38 updates, including 16 times in 2022, 12 times in 2023, and 10 times in 2024. It is currently at version 1.1.14.

ChainCatcher news, a California resident has sued three Asia-based banks, accusing them of failing to perform basic checks that led to his loss of nearly $1 million in a cryptocurrency scam.According to a complaint filed on December 31, 2024, Ken Liem's attorney claims that his client was contacted about a cryptocurrency investment opportunity via LinkedIn in June 2023 and was persuaded to transfer funds to the scammers. The funds were then deposited into the three Asian banks and ultimately transferred to a third-party account.The attorney alleges that these banks failed to conduct compliance checks such as "know your customer" (KYC) and anti-money laundering, failing to identify the fraudulent activity, thereby allowing the scammers to open accounts and carry out the scam.

ChainCatcher news, a bill has been submitted to the State Duma of Russia, aimed at mandating banks and merchants to use the digital ruble while implementing a universal QR code payment system. The bill is spearheaded by a group of senators and deputies, including Anatoly Aksakov, the chairman of the Duma's Financial Market Committee, and has been officially submitted to the lower house's electronic database.The proposal outlines a phased rollout plan for the digital ruble, starting on July 1, 2025, initially launching in systemically important banks (banks critical to the stability of the national economy) and expanding to all banks by 2027. Merchants will also be required to accept the digital ruble to encourage public usage. By July 2025, businesses with annual revenues exceeding 30 million rubles must enable digital ruble payments, with the threshold dropping to 20 million rubles by July 2026. Businesses in areas without mobile or internet access are exempt from this requirement.The bill, in conjunction with the universal QR code system, simplifies the payment process to facilitate seamless use of the digital ruble. Amendments to consumer protection laws require merchants to comply with regulations to ensure broader adoption. Additionally, credit institutions and foreign bank branches participating in the platform are obligated to support these transactions.

ChainCatcher news, the National Bank of Cambodia (NBC) has approved commercial banks and payment institutions to provide services related to stablecoins or collateralized cryptocurrencies. This is the first time NBC has approved such services, with relevant instructions issued on December 26 and announced on December 27. However, Bitcoin remains prohibited.According to the new regulations, institutions must obtain prior approval from NBC to conduct cryptocurrency asset exchanges, inter-account transfers, and custody services.

ChainCatcher news, according to market news, informed sources revealed that several large banks are planning to sue the Federal Reserve regarding the annual bank stress tests. The sources indicated that the lawsuit is expected to be filed this week, possibly as early as Tuesday morning local time. The Federal Reserve's stress tests are an annual routine that requires banks to maintain sufficient buffer capital for bad loans and sets limits on the scale of stock buybacks and dividends.After the market closed on Monday, the Federal Reserve announced in a statement that it plans to adjust the bank stress tests, but it did not specify the details of the adjustments to the annual stress test framework. However, these adjustments may not be enough to alleviate banks' concerns about heavy capital requirements. The Federal Reserve stated, "These proposed adjustments are not intended to have a material impact on overall capital requirements."

ChainCatcher news, according to Dailyhodl, the Federal Deposit Insurance Corporation (FDIC) stated in its quarterly bank profile report that the number of U.S. banks on its "problem bank list" rose to 68 in the third quarter. The total assets held by problem banks increased by $3.9 billion, reaching $87.3 billion. Problem banks account for 1.5% of the total number of banks, which is within the normal range of 1% to 2% for all banks during non-crisis periods.Meanwhile, the amount of unrealized losses on bank balance sheets has decreased. As of the third quarter of this year, banks reported book losses of $364 billion, primarily due to their involvement in the residential real estate and treasury markets. Unrealized losses represent the difference between the price banks paid for securities and the current market value of those assets. In the third quarter, bank book losses decreased by $148.9 billion from $512.9 billion in the second quarter.

ChainCatcher news, according to Ledger Insights, the Central Bank of Russia recently shared its business model for the Central Bank Digital Currency (CBDC). By the end of 2025, all digital ruble transactions will be free, with the first banks and merchants expected to go live on July 1. The central bank plans to earn fees by operating the system.Meanwhile, at a hearing held last week in the State Duma of Russia, the Association of Russian Banks (ABR) expressed dissatisfaction among banks. They are concerned about the potential outflow of bank deposits and the high deployment costs.It is reported that the Central Bank of Russia does not intend to limit the holdings of the CBDC. According to Info24, ABR Chairman Anatoly Kozlachkov stated that the setup cost for each bank is about 100 million rubles (1 million USD), while some banks have a capital of only 3 million USD.

ChainCatcher news, according to DL News, has reported that the phenomenon of cryptocurrency companies and their executives being shut out by banks has garnered significant attention from senior officials at the U.S. Securities and Exchange Commission (SEC). In comments made on Wednesday, SEC Commissioner Hester Peirce expressed skepticism about a nearly $400 million budget request for 2025 proposed by the Public Company Accounting Oversight Board (PCAOB). Peirce pointed out that the PCAOB has decided to focus on companies that hold large amounts of cryptocurrency or facilitate cryptocurrency trading. She stated, "In recent weeks, the efforts by regulators to prevent regulated entities from entering the cryptocurrency space have become public."In deciding not to approve PCAOB's budget request, Peirce further questioned how the board could choose its investigation targets while not discouraging auditors, issuers, and broker-dealers from engaging in the cryptocurrency space. However, Peirce's opinion was not adopted, as three other commissioners, including SEC Chairman Gary Gensler, voted against it.Previously, the cryptocurrency industry had accused that it is being collectively pushed out of the traditional banking system for several weeks. Against this backdrop, Peirce made the aforementioned comments. Cryptocurrency venture capitalist Nic Carter referred to this alleged exclusion as "Operation Choke Point 2.0."

ChainCatcher news, according to CoinDesk, Swiss cryptocurrency custodian Taurus has reached a strategic partnership with global core banking software provider Temenos. Temenos currently has 67 offices in 40 countries, serving over 3,000 banks and financial institutions. This collaboration will allow banks using the Temenos system to create cryptocurrency wallets with one click, achieving seamless integration with traditional accounts.Taurus co-founder Lamine Brahimi stated that partner banks will have access to various digital assets, including cryptocurrencies, tokenized securities, and stablecoins. The integrated features support automatic deposits and withdrawals, transfers, as well as real-time accounting and compliance reporting. Notably, Taurus has already provided crypto custody services for institutions such as Deutsche Bank and State Street, and this is the first digital asset custody platform to achieve full integration with Temenos.