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WASHINGTON—It may have been a long time since a credit union attempted to become a bank, but a traditional feature of credit unions remains true, reminded Ryan Donovan—the fate of the deal doesn’t rest in the hands of the CU’s executives or board.

WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has assessed a civil money penalty of $100 million against BitMEX, one of the oldest and largest convertible virtual currency derivatives exchanges, for violations of the Bank Secrecy Act (BSA) and FinCEN’s implementing regulations.

WASHINGTON–With student debt at record levels, the ROI on a college degree has been under increasing scrutiny.

LONE TREE, Colo.—Canvas Credit Union has launched a new promotion offering members the opportunity to win a 2021 Ford Bronco Sport and $15,000 cash to help cover taxes, registration, and fees to anyone who opens a checking account at one of its two branches in Castle Rock, Colo.

WASHINGTON—The Treasury Department is set to clarify that only cryptocurrency companies it considers brokers will need to comply with proposed IRS reporting requirements, aiming to quell concerns over a provision in the bipartisan infrastructure bill passed by the Senate.

SEOUL, South Korea—The Bank of Korea has revealed plans to initiate its central bank digital currency (CBDC) pilot by the end of August.

NEW YORK—Cryptocurrency has passed a major milestone—reaching a market capitalization of $2 trillion.

WASHINGTON—Credit unions looking to begin serving small businesses will learn key considerations by attending the new CUNA Serving Small Businesses eSchool Wednesdays, Sept. 1 through 22.

ARLINGTON, Texas--Washima Huq of Texas Trust Credit Union has been named the 2021 Young Professional of the Year by the Cornerstone League.