Politics, Legal & Regulation

November 26, 2024 @ 12:06 pm By JD Alois  |  

The House Financial Services Committee has scheduled a full Committee hearing to discuss Fintech. Entitled “Innovation Revolution: How Technology is Shaping the Future of Finance,” this may be the last Fintech hearing under Committee Chairman Patrick McHenry, who has announced his retirement from Congress. The hearing… Read More

November 26, 2024 @ 11:48 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) says ownership of crypto is on the rise in the country. According to the securities regulator, 12% of UK adults hold digital assets, an increase from their previous study when 10% reported holding crypto. The FCA says that awareness… Read More

November 26, 2024 @ 10:09 am By JD Alois  |  

UK Secretary to the Treasury Tulip Siddiq now expects stablecoin rules to emerge next year. Originally, stablecoin regulations were on the calendar for 2024. Bloomberg reports that the delay is due to the change in government, and the new Labour leadership needs more time. Simultaneously,… Read More

November 25, 2024 @ 10:17 pm By Omar Faridi  |  

Custodia Bank’s Board of Directors have reportedly voted this past week to further reduce operations and “preserve” capital in anticipation of “major” crypto policy reforms from the incoming administration in Washington, D.C. Custodia Bank noted that by taking this step ahead of the projected turn… Read More

November 25, 2024 @ 10:15 pm By Omar Faridi  |  

The European Securities and Markets Authority (ESMA), which is the EU’s financial markets regulator and supervisor, has recently released its Final Report providing the assessment of the shortening of the settlement cycle in the EU. The report aims to highlight that the increased efficiency and… Read More

November 25, 2024 @ 10:56 am By Nick Morgan  |  

Jennifer Schulp from the Cato Institute on Financial Services and Regulation In a recent episode of Capital Ideas, Nick Morgan and Dara Albright of the Investor Choice Advocates Network (ICAN) welcomed Jennifer Schulp, Director of Financial Regulation Studies at the Cato Institute. Schulp, co-author of Financing Opportunity: How… Read More

November 25, 2024 @ 9:47 am By Omar Faridi  |  

  The Securities and Exchange Commission (SEC) recently announced that it filed 583 total enforcement actions in fiscal year 2024 while obtaining orders for $8.2 billion in financial remedies, the highest amount in SEC history. The 583 enforcement actions are said to represent a significant… Read More

November 25, 2024 @ 9:06 am By Omar Faridi  |  

Coin Center has provided a detailed analysis of the evolving crypto policy landscape following the US Elections. According to the update from Coin Center, crypto got a lot of attention in the recent election, and many are now “wondering how friendly the new administration and… Read More

November 24, 2024 @ 6:42 pm By Michael Wong  |  

Australia’s Department of the Treasury has initiated a consultation on implementing the Organisation for Economic Cooperation and Development’s (OECD) Crypto Asset Reporting Framework (CARF). The framework is designed to enhance tax transparency and improve compliance by standardizing the collection and exchange of tax-related information on… Read More

November 24, 2024 @ 6:40 pm By Michael Wong  |  

South Korea’s Financial Supervisory Service (FSS) plans to enhance the monitoring of abnormal transactions in virtual asset exchanges as market volatility intensifies, particularly following the U.S. presidential election. This move aims to address gaps in current systems and bolster consumer protection measures. Virtual asset exchanges… Read More

November 23, 2024 @ 6:24 pm By Tony Zerucha  |  

Tim Kravchunovsky, founder and CEO of the decentralized telecommunications network Chirp, fears the incoming chair of the Federal Communications Commission, Brendan Carr, could stifle the decentralized telecommunications industry if he moves to repeal net neutrality once again. While Carr’s anti-Big Tech stance could be helpful… Read More

November 23, 2024 @ 5:53 pm By Omar Faridi  |  

The Commodity Futures Trading Commission’s (CFTC) Global Markets Advisory Committee, sponsored by Commissioner Caroline D. Pham, advanced a recommendation to expand the use of non-cash collateral through the use of distributed ledger technology. The GMAC’s Digital Asset Markets Subcommittee presented on the progress of its… Read More

November 22, 2024 @ 4:35 pm By Omar Faridi  |  

The Malta Financial Services Authority (MFSA) is participating in an EU Technical Support Instrument (TSI) project which will support Malta in the area of financial literacy, with the purpose of improving the financial literacy levels of the Maltese population, “including retail investors.” The project is… Read More

November 22, 2024 @ 10:56 am By JD Alois  |  

On November 18th, Trump Media (NASDAQ:DJT) filed a Trademark application for TRUTHFI, a crypto service. This report follows the news that Trump Media was in discussion to acquire Bakkt (NYSE:BKKT), a crypto trading platform controlled by ICE, the parent company of the New York Stock Exchange…. Read More

November 21, 2024 @ 5:46 pm By JD Alois  |  

Elon Musk, the owner of X (neé Twitter), Tesla, and SpaceX, responded to an X by outgoing SEC Chairman Gary Gensler in a stinging retort. Gensler’s exit from the Commission was announced today with the Chairman dragging it out until the day President-elect Donald Trump… Read More

November 21, 2024 @ 3:05 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced that Chairman Gary Gensler will exit the agency on January 20, 2025, the same day President-elect Donald Trump will be sworn in. While some pundits predicted that Gensler would exit sooner, giving another Commissioner a chance to… Read More

November 21, 2024 @ 2:52 pm By JD Alois  |  

Earlier today, the Consumer Financial Protection Bureau (CFBP) issued final rules on non-bank firms providing payments and transfers. Digital payments have become the norm as people adopt digital wallets, hosted on their smartphones, as simpler and quicker way to transfer funds. While there are many… Read More

November 21, 2024 @ 11:17 am By JD Alois  |  

The Financial Technology Association (FTA) has issued a statement criticizing the Consumer Financial Protection Bureau’s new rules addressing digital payments and transfers. The CFPB revealed final rules today that are said to “strengthen oversight of large technology firms in consumer financial markets” that offer digital… Read More

November 21, 2024 @ 7:33 am By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has announced final rules for non-bank digital payments and transfers. The payments sector of Fintech is one of the hottest segments of innovation, as users have quickly adopted digital wallets and more efficient payment methods. The CFPB’s move is… Read More

November 21, 2024 @ 7:17 am By Omar Faridi  |  

The European Central Bank (ECB) sees elevated financial stability vulnerabilities in a volatile environment, according to its November 2024 Financial Stability Review. Risks to euro area economic growth have shifted to the downside as inflation has moved “closer to 2%,” while financial markets have “experienced… Read More