Fed to issue long-awaited guidelines for granting master accounts to crypto banks
Cryptos continued journey into the mainstream has come with various levels of regulatory action across the globe. This week brought clarity in terms of expectations for crypto-focused banks seeking accounts with the United States Federal Reserve. A framework released by the Federal Reserve Board details expectations for such applicant banks, including the level of due diligence to be provided based on each applicants risk level. Giving crypto-focused banks access to the Feds so-called master accounts has been a slow process, but it suggests that regulators are gradually integrating digital assets into mainstream finance.
BlockFi tops the Inc. 5000 list with almost 250,000% revenue growth in three years
Centralized finance player BlockFi topped Inc. magazines 2022 list of U.S. companies showing the highest revenue growth over the past three years. Although the list showcases 5,000 companies posting revenue growth, making it into consideration for the list requires paying a small fee and submitting an application. Be that as it may, BlockFi has tallied a 245,616% increase in revenue substantially higher than the company holding second place on the list.
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