US Regulators Preparing a Crypto Gift For Banks; CoinList Turns Into a Unicorn + More News

Jelena McWilliams, who chairs the US Federal Deposit Insurance Corporation, told Reuters that a team of US bank regulators is trying to provide a roadmap for banks to engage with cryptoassets, e.g., let banks hold crypto in custody, use them as collateral for loans, or even hold them on their balance sheets like more traditional assets. “If we don’t bring this activity inside the banks, it is going to develop outside of the banks. … The federal regulators won’t be able to regulate it,” McWilliams was quoted as saying.
Tether, the issuer of the most popular stablecoin, tether (USDT) said that it will be utilizing Notabene, an end-to-end solution designed for crypto Travel Rule compliance, that will let them test complex crypto use cases “in a collaborative, low-risk environment.” The solution will help them combat money laundering and crime in transactions from Virtual Asset Service Providers, the company said.

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