May 28, 2024 @ 12:35 pm By JD Alois  |  

Ryan Salame (30), a former top executive of FTX, has been sentenced to 7 1/2 years in prison for his role in the crypto firm’s activities. Sam Bankman Fried, the founder and CEO of FTX, was eventually sentenced to 25 years in prison for his… Read More

May 28, 2024 @ 10:54 am By JD Alois  |  

Swiipr, a “travel Paytech” firm, has announced raising £6 million in a Series A funding round led by Octopus Ventures. TX Ventures and Solano Partners also participated in the funding round. Swiipr aims to provide a service for airlines and their disruption payments systems. The… Read More

May 28, 2024 @ 8:44 am By JD Alois  |  

Linked Finance, an online lender serving Irish SMEs, says it has topped €300 million in loans since its launch. The funding has supported over 4200 smaller firms. For 2024, Linked Finance predicts that it will lend, on average, €115,000 per borrower hitting over £80 million… Read More

May 24, 2024 @ 12:42 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) is poised to green-light Ethereum (Ether) ETFs after years of pushback. As of this writing, it was not clear as to when these products would commence trading. Earlier this year, the SEC approved spot Bitcoin ETFs for trading after… Read More

May 24, 2024 @ 10:48 am By JD Alois  |  

HNW Lending says it has surpassed £140 million in online lending. As the name implies, HNW means high net worth individuals. Regulated by the UK Financial Conduct Authority, HNW Lending is a peer-to-peer lending platform that enables asset-backed loans for UK-based individuals and businesses, with… Read More

May 24, 2024 @ 10:15 am By JD Alois  |  

Stand with Crypto, an advocacy group that supports appropriate regulation of the digital asset sector, has set up shop in the UK. While the UK is moving forward with bespoke regulation, it has been more challenging in the US. The US House of Representatives recently… Read More

May 23, 2024 @ 2:26 pm By JD Alois  |  

The US House of Representatives has approved legislation aimed at deterring the use of a central bank digital currency, or CBDC. The CBDC Anti-Surveillance State Act (HR 5403) vote was 216 for and 192 against.  22 members did not vote. While all of the Republicans… Read More

May 23, 2024 @ 10:44 am By JD Alois  |  

Yesterday, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule impacting buy now pay later (BNPL) providers. BNPL providers have emerged as a popular alternative to credit cards, as their interest rates are typically lower than credit cards. At the same time, many platforms… Read More

May 23, 2024 @ 10:23 am By JD Alois  |  

Adam Connors, formerly legal counsel at UK based securities crowdfunding platform Crowdcube, has joined the law firm of Clarke Willmott as an associate in the Taunton office. According to a statement by Clarke Willmott, Connors worked for Crowdcube for nine years, advising issuers pursuing 1700+… Read More

May 23, 2024 @ 8:56 am By JD Alois  |  

Paris-based payments Fintech Mangopay has hired Jonathan Greenland as Sales Director, Strategic Accounts UK&I. Greenland previously was an executive at Airwallex. Mangpay says the move is designed to boost its presence in the UK. Prior to Airwallex, Greenland worked at GoCardless, another UK Fintech. In… Read More

May 23, 2024 @ 8:48 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has fined HSBC £6,280,100 for the poor treatment of its customers. According to the FCA, HSBC failed to properly consider people’s circumstances when they had missed payments. This transgression took place between June 2017 and October 2018. The FCA… Read More

May 22, 2024 @ 7:09 pm By JD Alois  |  

After an impassioned debate by multiple Democrats criticizing the legislation, the Financial Innovation and Technology for the 21st Century Act (FIT21), HR 4763, has been approved by the US House of Representatives. The final vote showed solid support as 208 Republicans were joined by 71… Read More

May 22, 2024 @ 4:32 pm By JD Alois  |  

The Financial Innovation and Technology for the 21st Century Act (FIT21) incorporates a Digital Asset Exemption that enables issuers to raise up to $75 million. The current language allows participation by both Accredited and Non-Accreditd Investors. For individuals who are not Accredited, there are limitations,… Read More

May 22, 2024 @ 3:56 pm By JD Alois  |  

H, founded in late 2023, by Stanford University researcher Charles Kantor as CEO, and DeepMind alumni Karl Tuyls (Chief Research and Operations Officer), Laurent Sifre (Chief Technological Officer), Daan Wierstra (joining soon as Chief Scientist), and Julien Perolat (Chief Multi-Agent Officer), has raised $220 million… Read More

May 22, 2024 @ 3:35 pm By JD Alois  |  

House Financial Services Committee Chairman Patrick McHenry, along with Digital Assets, Financial Technology and Inclusion Subcommittee Chairman French Hill, and Oversight and Investigations Subcommittee Chairman Bill Huizenga, have joined to ask the Securities and Exchange Commission to provide information on Prometheum’s move to provide custody… Read More

May 22, 2024 @ 12:48 pm By JD Alois  |  

SEC Chairman Gary Gensler has posted commentary on the Financial Innovation and Technology for the 21st Century (FIT21) Act. First introduced in 2023, the legislation has recently re-emerged, moving forward in the House and a looming floor vote. The legislation aims to clarify the digital… Read More

May 22, 2024 @ 12:28 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has penalized the Intercontinental Exchange (NYSE:ICE), the operator of the New York Stock Exchange, for failing to notify the SEC promptly of a cyber intrusion. ICE has agreed to pay a $10 million penalty to settle the allegations without… Read More

May 22, 2024 @ 10:45 am By JD Alois  |  

This past week, the California state legislature approved an Artificial Intelligence (AI) bill, SB 1047 that is being described as undermining innovation and hampering the development of the new technology. Joe Lonsdale, founder of Palantir (NYSE:PLTR) – a firm engaged in AI development, slammed the… Read More

May 22, 2024 @ 9:24 am By JD Alois  |  

Today, the UK Payment Systems Regulator (PSR) has decided that cards do not face effective competition. The PSR states that it has “provisionally” determined there is not enough competition in the supply of scheme and processing services to acquirers. Additionally, pricing is complicated, having risen… Read More

May 22, 2024 @ 9:01 am By JD Alois  |  

Experian (LSE:EXP) has made a strategic investment in Reward. According to a release, the investment strengthens the current commercial relationship between the two firms. The terms of the investment were not provided. Experian said that the partnership will focus on leveraging Experian’s data and audience… Read More