Factom Protocol executives were on Capitol Hill three years ago with other providers explaining the benefits of the blockchain and cryptocurrency technology for security and payments to the nation's lawmakers.

Kenneth Blanco's tough comments appeared to target payments providers that offer their users anonymity.

Santander Consumer is planning to attract online deposits via a national platform that could rival Goldman Sachs’s Marcus; HSBC is now in retrenchment mode after aiming for growth.

Readers cast doubts on regulatory attempts to jointly revamp the Community Reinvestment Act, react to Democrats berating the CFPB head, an upcoming House hearing with Facebook's CEO and more.

The Facebook Inc. executive responsible for the embattled Libra cryptocurrency said he doesn’t fault companies that pulled out of the project, adding that he’s optimistic more organizations will sign on despite intense opposition from politicians who seem to fear financial innovation.

Facebook’s controversial Libra cryptocurrency project is moving ahead, undaunted by the rapid departure of five high-profile companies. The Libra Association confirmed 21 members have formally signed on and formed the association’s council.

Consumer banking is expected to offset the banks’ underperforming Wall Street units; the defections of Visa, Mastercard and Stripe threaten the cyrpto project’s viability before it starts.

Banks shouldn't let the legal and regulatory hurdles deter them, attorney Felix Shipkevich says.

The Libra Association's remaining stakeholders — under very public pressure to abandon ship — will potentially find strength in numbers at its meeting in Switzerland.

As regulatory pushback against Facebook's Libra cryptocurrency has accelerated, keeping the project together has become a major challenge, with Visa, Mastercard, Visa, eBay and Stripe joining PayPal in leaving the project.

A digital currency firm has been accused of recruiting actors to pretend to be Comerica and Mastercard employees, writing a fake prospectus and taking other steps to make it look like the two U.S. companies were its partners in an investment venture.

The social media giant's CEO will likely encounter pushback from members of the Financial Services Committee about the company's plans to launch its own cryptocurrency.

Any entity questioning Libra runs up against the longstanding legal precedent set by private label gift and GPR, and myriad other prepaid account offerings, says payments consultant and researcher Richard Crone.

Libra poses risks not only to global financial systems, but also to existing companies’ broader payments business, Senator Sherrod Brown of Ohio and Senator Brian Schatz of Hawaii said in letter on Tuesday to Visa Inc., Mastercard Inc. and Stripe Inc.

The Swiss National Bank and stock exchange SIX will jointly explore how to make central bank digital money available for the trading and settlement among financial market players.

The EU wants to protect the euro and ensure Facebook’s digital currency isn’t used for money laundering; the brokerage is partnering with six banks to offer 2% on account balances.

Crypto assets such as Libra could have a systemic effect on financial stability and should be regulated by the European Union, according to the bloc’s incoming financial services chief.

The German bank is trying to reverse its reputation for “lousy systems;” the Bakkt platform has failed to attract much trading in its first two weeks.

The decision is a blow to Facebook's digital currency plans; the reduction is the bank’s “most ambitious attempt to rein in costs in years."

Facebook's Libra cryptocurrency project has lost its first major ally. PayPal — where the head of Facebook's Libra project once served as president — has cut its ties. As a founding member, PayPal was expected to drive the payment-specific part of the cryptocurrency initiative.