Politics, Legal & Regulation

May 27, 2025 @ 7:59 am By Omar Faridi  |  

The Consumer Financial Protection Bureau (CFPB) has decided to abandon its proposed open banking rule, prompting sharp criticism from the Financial Technology Association (FTA). The FTA, an advocate for fintech innovation, has labeled the move a “handout to Wall Street banks,” arguing it undermines efforts… Read More

May 26, 2025 @ 11:31 am By Omar Faridi  |  

Recently, in Sterling, Virginia, US President Donald Trump hosted a dinner at his Trump National Golf Club, welcoming 220 of the top investors in his $TRUMP meme coin. The event, described as “black-tie optional,” drew a mix of cryptocurrency enthusiasts, high-profile figures, and controversy, with… Read More

May 26, 2025 @ 9:22 am By Omar Faridi  |  

The introduction of the Sepa Instant Payments regulation is set to reshape the financial landscape across Europe, with nearly half of the region’s banks anticipating significant interest revenue losses due to heightened liquidity requirements. Despite these financial challenges, many institutions remain optimistic, believing the long-term… Read More

May 24, 2025 @ 6:11 pm By Michael Wong  |  

India has established a new Payments Regulatory Board (PRB), a significant move that restructures the oversight of the country’s rapidly expanding digital payments ecosystem. The formation of the PRB under the Payments Regulatory Board Regulations, 2025, reflects a hybrid model of governance between the Reserve… Read More

May 22, 2025 @ 10:23 am By Omar Faridi  |  

Bprotocol Foundation, a non-profit foundation dedicated to promoting the development and adoption of the Bancor Protocol, and LocalCoin Ltd., the original developer of the Bancor Protocol, announced that they have filed a lawsuit in the United States District Court for the Southern District of New… Read More

May 22, 2025 @ 9:14 am By Omar Faridi  |  

Crypto.com announced that it had secured a Markets in Financial Instruments Directive (MiFID) license after receiving approval of its acquisition of A.N. Allnew Investments Ltd from the Cyprus Securities and Exchange Commission (CySEC). Allnew is licensed by the CySEC to provide “investment and ancillary services… Read More

May 21, 2025 @ 4:22 pm By Omar Faridi  |  

The Texas House of Representatives has passed Senate Bill 21 (SB 21), known as the Texas Strategic Bitcoin Reserve and Investment Act, during its second reading on May 21, 2025. The bill, which garnered strong bipartisan support with a 105-23 vote, moves Texas closer to… Read More

May 21, 2025 @ 10:05 am By Omar Faridi  |  

The Securities and Exchange Commission (SEC) charged New York City-based Unicoin, Inc. and three of its top executives—CEO and Board Chairman Alex Konanykhin; Silvina Moschini, former president, former board chairwoman, and current board member; and former Chief Investment Officer Alex Dominguez—for “false and misleading statements… Read More

May 21, 2025 @ 7:45 am By JD Alois  |  

The Hong Kong government approved stablecoin legislation today. The new law provides for fiat-referenced stablecoins (FRC) for issuers in Hong Kong. The goal is to further enhance Hong Kong’s “virtual asset activities.” The new rules will come into effect this year. The Stablecoins Ordinance requires… Read More

May 20, 2025 @ 11:12 pm By Omar Faridi  |  

The Genesis Litigation Oversight Committee, which represents the interests of creditors, filed two major lawsuits (on behalf of Genesis debtors and their bankruptcy estates) against its parent company, Digital Currency Group (DCG), its CEO Barry Silbert, and a network of so-called insiders. The legal actions,… Read More

May 20, 2025 @ 6:52 pm By JD Alois  |  

The US Department of Justice is investigating the recent insider hack of Coinbase (NASDAQ:COIN), according to Bloomberg. Coinbase is said to have brought the breach to the authorities’ attention, but the company itself is not under investigation. Paul Grewal, Coinbase’s Chief Legal Officer, highlighted this fact… Read More

May 20, 2025 @ 6:34 pm By JD Alois  |  

The “Accredited Investor Definition Review Act,” HR 3348, has been approved by the House Financial Services Committee in a 36-16 vote. Representative Bill Huizenga, the bill’s sponsor, outlined its goals in an X. “Accredited investors are currently defined by the SEC based on their income and… Read More

May 20, 2025 @ 3:22 pm By JD Alois  |  

Today, Paul Atkins, the newly minted Chairman of the Securities and Exchange Commission, testified in front of the House Appropriations Subcommittee on Financial Services and General Government. In prepared testimony, Chairman Atkins delivered remarks to the members that indicated the Commission has now returned to its age-old… Read More

May 20, 2025 @ 11:43 am By JD Alois  |  

CurveBlock has been approved to join the UK Digital Securities Sandbox (DSS), a project led by the Financial Conduct Authority (FCA) and the Bank of England. CurveBlock is a Leeds-based Fintech in the Proptech sector. The ambition is to pursue real estate tokenization. CurveBlock is… Read More

May 19, 2025 @ 10:45 pm By JD Alois  |  

This evening, the Senate Stablecoin Bill, the Genius Act, or The Guiding and Establishing National Innovation for U.S. Stablecoins (S 1582), garnered sufficient votes on a cloture motion to proceed in the Senate. Previously, on May 8th, the bill failed to gain the needed votes to end debate… Read More

May 19, 2025 @ 1:47 pm By Omar Faridi  |  

DailyPay, a worktech company and a leading provider of On-Demand Pay (also known as earned wage access), marks another regulatory achievement as Indiana becomes the latest state to sign into law legislation regarding the product. Indiana’s HEA 1125 codifies the industry’s best practices “into law,… Read More

May 19, 2025 @ 10:12 am By JD Alois  |  

Two resolutions impacting the Consumer Financial Protection Bureau (CFPB) have been signed into law by President Donald Trump. The CFPB has been a controversial agency since its inception. A pet project of certain left-wing policymakers, the Trump administration has effectively crippled the agency and its… Read More

May 17, 2025 @ 1:03 pm By Michael Wong  |  

A Ukrainian court has authorized the transfer of virtual assets seized during a major fraud and illegal gambling investigation, to the country’s National Agency for Asset Recovery and Management (ARMA), according to a court ruling in local dialect. The move marks a significant development in… Read More

May 17, 2025 @ 12:02 pm By Michael Wong  |  

The Monetary Authority of Singapore (MAS) has proposed reforms aimed at simplifying initial public offering (IPO) requirements and expanding outreach to investors, as part of broader efforts to strengthen the city-state’s position as a competitive equities hub. In a consultation paper, MAS outlined a three-pronged… Read More

May 17, 2025 @ 11:14 am By Tony Zerucha  |  

Our Revolution, a grassroots organization, hosted a national organizing call Monday night with Sens. Elizabeth Warren and Jeff Merkley to discuss the GENIUS Act, legislation that provides rules to govern the stablecoin sector, and mobilize a people-powered firewall against what it says is the crypto-corporate… Read More