The New York Department of Financial Services adopted a final regulation implementing an approach to assessing costs and expenses of individuals who are regulated by the NYDFS and engage in "virtual currency business activity."
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The Federal Reserve Board will begin operating the FedNow℠ instant payment service in July.
Federal Reserve Board Governor Michelle W. Bowman summarized her views on monetary policy, cryptocurrencies, payment systems, climate-related risk and updating the Community Reinvestment Act.
The CFPB reopened the comment period on a Request for Information issued to Amazon, Apple, Facebook, Google, PayPal and Square regarding how each firm uses personal payment data and manages data access.
Federal Reserve Board Governor Christopher J. Waller explained why the U.S. dollar is the dominant currency for cross-border financial transactions and said that such dominance would not be impacted if the United States issues a U.S. government-issued central bank digital currency.