FTX Lawyers Recover Billions and Bill Millions Investigating Exchange Reboot
FTX lawyers are exploring the possibility of restarting this cryptocurrency exchange.
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FTC Sues Chargebacks911 and Alleges Use of Unfair Techniques
Chargebacks911, a company that specializes in helping consumers mitigate the effects of chargebacks, was sued by the Federal Trade Commission (FTC) and Florida.
IMF Lowers Forecast for Global Economic Growth After Banking Crises
The consequences of the coronavirus pandemic, which have not yet been fully overcome by the financial and industrial sectors, and the pressure factor in the form of banking crises have a negative impact on the prospects for economic growth.
UK Payments Startup Ryft Wins FCA Licence
Ryft, a UK-based startup that aims to replicate the success of Stripe, has announced that it has received an FCA license.
South Korea Fines Google $32 Million
The South Korean Fair Trade Commission (KFTC) fined Alphabet’s Google 42.1 billion won ($32 million).
First Citizens Community Bank Parent Gains Regulatory Approvals for Acquisition
The acquisition of HV Bancorp, previously announced by Citizens Financial Services, has received regulatory approval.
Israel Joins Online Banking and Provides Access to International Payment Providers
Back in June 2022, Israel began the process of open banking reform in an attempt to bring its outdated regulatory framework into line with the needs of the nation’s booming fintech sector. The road map for the reforms is set to conclude by November 2023 and although this could represent a real boon for both […]
Treasury Department Urges DeFi to Improve AML/CFT Controls
Both providers of DeFi services and the United States government are supposed to reduce AML/CFT vulnerabilities in decentralized finance (DeFi), enabling criminals to transfer and launder illicit proceeds
Google Bans Loan Apps Access to User Contacts
Android apps offering personal loan services will not be able to access users’ sensitive data, such as photos and contacts, with the new restrictions imposed by Google
Robinhood Reaches $10.2 Million Settlement on March 2020 Platform Outage
The American financial company Robinhood has reached an agreement with state securities regulators regarding the settlement of a situation related to operational and technical failures.
French Lawmakers Propose Banning Crypto Promotions by Influencers
French legislators have introduced a proposal to prohibit influencers from promoting crypto and other risky financial products. Significant fines and even prison sentences are considered as punishment
BoE Plans to Change SMB Lending
Bank of England has revealed its plans to change the capital treatment for small business (SMB) lending, calling for a more risk-based approach
UK Tax Authorities Change the Way Crypto Profits Should Be Filed
The UK Treasury introduced changes to the Self-Assessment tax return forms so that crypto assets are identified separately
Australian Taxation Office Implements Crypto Monitoring
The Australian Taxation Office is taking measures to monitor crypto transactions and ensure tax law compliance when it comes to digital assets with the help of a new data-matching tool
Biden Budget Proposes Crypto Mining Tax
A budget proposal by U.S. President Joe Biden aims to “reduce mining activity” with a 30% tax on electricity costs linked to the cryptocurrency mining process
Central Bank of Nigeria Releases Open Banking Guidelines
The newly released operational guidelines from the Central Bank of Nigeria clarify responsibilities and expectations for the open banking ecosystem participants in the country
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