Politics, Legal & Regulation

Policy and regulations impacting innovations in Finance.

Debanking Emerges Again with Claims Regarding JP Morgan Chase Cancelling Accounts

Mr. Potter Banker Banking (1)

The practice of “debanking” has emerged once again, with reports that JP Morgan (NYSE:JPM) is pursuing the discriminatory practice. Debanking was prevalent during the Biden years. Effectively, banks would sever relationships with individuals or entities deemed unsavory for political views or activities out of favor… Read More

High Earners Continue to Flee UK Due to Taxes: Report

On the eve of the Chancellor’s Autumn statement, which is expected to see increases in various taxes, including a rise in capital gains tax, a recent report highlights the number of people fleeing the UK to avoid the ever-growing burden on high earners.  This is… Read More

SitusAMC Data Breach Hits Big Banks Like JP Morgan, Citi More

The SitusAMC data breach has banks scrambling to assess the damage. The hack has hit big banks like JP Morgan, Citi, and Morgan Stanley as client data has allegedly been pilfered. Reportedly, the breach was uncovered on November 12th, and the Federal Bureau of Investigation… Read More

Embedded Insurance Firm Says Autumn Budget Needs Freeze in Tax, More Regulatory Clarity

Ross Sinclair, CEO and founder at embedded insurance firm EIP, has shared his hopes for the Insurtech sector and possible policy changes announced in the Chancellor of the Exchequer’s Autumn Statement. The budget will be revealed by Chancellor Rachel Reeves this Wednesday. Some Fintech insiders are concerned… Read More

CEO of DECTA UK Says Autumn Statement Needs to Introduce Drastic Reforms

The Autumn Statement will be delivered by the Chancellor of the Exchequer, Rachel Reeves, this Wednesday. Much of the speculation surrounding the budget proposal swirls around rising taxes and support for specific programs. The Labour government inherited a challenging economy with declarations of a “fiscal… Read More

Trinidad and Tobago Passes Crypto Bill Ahead of FATF Review

Trinidad and Tobago’s parliament passed legislation to regulate cryptocurrencies and the firms that provide related services, according to local reports. The vote, however, came after a chaotic debate in which opposition lawmakers said they were forced to argue over a bill that had been effectively… Read More

India’s Central Bank Stays Cautious on Crypto as it Reviews Financial Rulebook

India’s central bank is taking a “very cautious” stance on cryptocurrencies and stablecoins, arguing that their volatility and potential to bypass safeguards could threaten financial stability, Reserve Bank of India (RBI) Governor Sanjay Malhotra said. Malhotra’s remarks, delivered in a memorial lecture at Delhi School… Read More

US House of Representatives Pass Resolution Condemning Socialism

The US House of Representatives has passed a resolution condemning socialism. The ideology is on the rise in the US, having become popular on certain college campuses and, more recently, with the election of New York City Mayor Zohran Mamdani, a socialist who believes the… Read More

Association for Financial Markets in Europe Says UK Must Lead Blockchain Based Capital Markets

The Association for Financial Markets in Europe (AFME) says the UK must lead in the development of distributed ledger technology (DLT) capital markets. Otherwise known as blockchain, in a recent statement, AFME noted that “without a clear national vision and urgent coordinated action, the UK… Read More

Telcoin Obtains Approval to Operate as Digital Asset Depository Institution

Telcoin has secured final regulatory approval from the Nebraska Department of Banking and Finance to operate as the nation’s first chartered Digital Asset Depository Institution (DADI). The approval reportedly marks one of the first times a state has granted a full banking charter specifically designed… Read More

More Brits Predicted to Flee the UK Following Autumn Statement as Taxes Expected to Rise

The Autumn Statement, the UK’s budget update, is just around the corner. Chancellor of the Exchequer Rachel Reeves is expected to deliver Labour’s vision for the economy, which may include a host of tax increases. Thought to be on the table include increases in capital… Read More

Blockchain: SEC Director Comments on Trust, Trustless Assets

Jamie Selway, the SEC’s Director of the Division of Trading and Markets, delivered a speech today on trust and trustless access, directly addressing the rise of digital assets and blockchain technology—the speech was presented in New York at the SIFMA Market Structure Conference. Selway shared… Read More

Ondo Finance Secures EU Approval for Tokenized Stocks and ETFs

Ondo Finance has received formal regulatory approval in the European Union, clearing the way for its tokenized versions of stocks and exchange-traded funds (ETFs) to be offered legally across the entire EU and European Economic Area (EEA). The green light broadens the potential investor base… Read More

Bitso Reports Crypto Adoption Accelerating in Latin America

Latin America is having a “breakthrough” year in regard to crypto adoption. This is according to the Latam digital asset platform Bitso. Bitso cites data from a recent Coinchange regulatory report stating that Latin American crypto usage increased by 116% in 2024 and by 65%… Read More

OCC: Banks are Good to Hold Crypto

In a stark reversal from the Biden administration, the Office of the Comptroller of the Currency (OCC) has issued a statement that chartered banks may hold crypto. During the Biden years, the government took a distinctly hostile stance toward digital assets and innovation in general…. Read More

Chairman of the Senate Banking Committee, Senator Tim Scott, Says Crypto Market Legislation to Head to President’s Desk Early Next Year

Crypto market infrastructure legislation, known as the CLARITY Act, which has already been approved in the House, is expected to move to markup next month and head to the President’s desk to be signed into law early next year. Senator Tim Scott, Chairman of the… Read More

Autumn Budget: More Support Needed for SMEs

The Autumn Budget will be presented next week on November 26th. Chancellor of the Exchequer Rachel Reeves has her work cut out for her as the UK is experiencing mediocre growth, sticky inflation, and high government debt. Expectations that some taxes may rise, but any… Read More

House Financial Services Committee Welcomes Change at SEC and Handling Shareholder Proposals

Yesterday, the Securities and Exchange Commission, Division of Corporate Finance (CorpFin) announced an update to its role regarding proxy decisions. CorpFin stated that “due to current resource and timing considerations following the lengthy government shutdown and the large volume of registration statements and other filings… Read More

Senate Agriculture Committee Hearing for Nominated CFTC Chairman is this Wednesday

Michael Selig, selected to lead the Commodity Futures Trading Commission (CFTC) by President Trump, is expected to go through the hearing process at a meeting of the Senate Agriculture Committee this Wednesday. President Trump selected Selig following the decision to withdraw Brian Quintenz’s nomination to… Read More

JPMorgan Wins Battle with Fintechs Over Charging Fees to Access Users’ Financial Data

JPMorgan Chase (NYSE:JPM) has reportedly finalized agreements that will make sure it will get paid by the fintechs that are responsible for almost all the data requests issued by third-party applications being connected to customer banking accounts. This, according to an update from CNBC. JPMorgan… Read More

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