Silvergate's former CEO and onetime chief risk officer settled allegations that they misled investors about the strength of the bank's anti-money laundering compliance program. Meanwhile, Silvergate's former CFO denied separate allegations by the SEC and vowed to defend himself in court.

The company says the FDIC's "pause letters" to banks and denial of Freedom of Information Act requests are illegal.

The cryptocurrency sector is only the latest in a long line of corporate interests seeking to distort our democracy by converting their financial power into political power.

The Chief Economist at R3 is one of American Banker's 2024 Most Influential Women in Fintech.

Since being tapped to lead the global crypto product team at Visa in June 2019, Sheffield has spearheaded projects like the expansion of the company's stablecoin settlement offerings for merchant acquirers and many others.

As part of a deal with New York Attorney General Letitia James, the cryptocurrency exchange agreed to return more than $50 million in digital assets to investors involved in the now-defunct Gemini Earn program.

Legislation enabling new banklike stablecoin issuers would create direct competition for deposits, with small U.S. banks in the most danger. Where is the pushback from the industry?

Digital assets have never caught on for mainstream payments, but the card network isn't giving up hope. Its latest effort aims to reduce complexity by learning from the successes of digital wallets.

Shan Hanes, who led Heartland Tri-State Bank in Kansas until it failed last year, pleaded guilty to one count of embezzlement by a bank officer. He now faces up to 30 years in prison. He is scheduled to be sentenced on Aug. 8.

Payment firm BVNK is betting that PYUSD's potential to connect to PayPal's network of millions of consumers and businesses will make it more than another investment currency.

The Securities and Exchange Commission's overly broad expansion of the Dealer Rule is only the latest example of the agency's yearslong effort to stifle innovation in a vibrant and growing industry.

The bill spells out how the Securities and Exchange Commission can and can't address crypto custody at banks and is getting a wave of bipartisan traction on Capitol Hill. But some academics and consumer advocates are concerned that the legislation could allow banks to bypass regulations.

The Bank for International Settlements' Innovation Hub is doing important work on integrating new technology into the global financial system. The next step is to bring both banks and nonbanks into the discussion.

Banking experts said that none of the currently circulating stablecoin proposals adequately address concerns about the overlap between banking and commerce and how a stablecoin issuer would go through insolvency.

Regulation and other factors are creating friction for banks and consumers that want to transact in crypto.

The Senate Thursday joined the House in passing a resolution to overturn the SEC's SAB 121 accounting guidance for financial firms holding crypto in custody. President Biden has vowed to veto the measure.

The Securities and Exchange Commission, having already approved spot bitcoin ETFs, ought to follow through and grant the same approval to spot ethereum funds. Doing so would create a new surge of investment, with positive economic impacts.

The bill, which would allow uninsured trust companies to issue stablecoins, represents a perilous departure from historically sound financial regulatory policies, and would open the door to potentially catastrophic market disruptions.

A "true" stablecoin would benefit the economy by improving the money supply, facilitating frictionless payments and lowering the cost of borrowing fiat currency.

The House advanced a resolution that would roll back a Securities and Exchange Commission resolution that banks argue cuts them out of the crypto custodying business, but President Biden said he would veto it if it passes the Senate.