Politics, Legal & Regulation

May 16, 2025 @ 11:58 am By Omar Faridi  |  

The Bank of London is reportedly under investigation by the Prudential Regulation Authority (PRA), raising serious concerns about its long-term ability to maintain operations. The probe, disclosed in the bank’s recently filed accounts—submitted months behind schedule—centers on “historical matters” predating a significant ownership change in… Read More

May 15, 2025 @ 4:27 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) continues to reverse the damaging policies enacted by the SEC during the Biden Administration. Today, the SEC announced that it has withdrawn the previous guidance on Broker-Dealers and the custody of digital assets. The SEC Division of Trading and… Read More

May 15, 2025 @ 3:59 pm By JD Alois  |  

The current definition of an Accredited Investor has long been understood to be misdirected, disenfranchising millions of potential investors. Today, the definition defines an individual as “Accredited” based on a wealth metric. Broadly, this means earning over $200,000 a year ($300,000 if married) or having… Read More

May 15, 2025 @ 9:51 am By JD Alois  |  

Coinbase (NASDAQ:COIN), the only publicly traded crypto exchange in the US, is reporting it was the target of a cyber attack that saw criminals attempt to extort $20 million from the firm to make it all go away. According to a blog post, bad actors… Read More

May 14, 2025 @ 10:18 pm By Omar Faridi  |  

Texas Attorney General Ken Paxton has secured a historic $1.375 billion settlement with Google, marking the largest state-level data privacy settlement in U.S. history. The agreement reportedly resolves two lawsuits filed in 2022 that accused Google of unlawfully collecting Texans’ personal data, including location information,… Read More

May 14, 2025 @ 4:24 pm By JD Alois  |  

New York Attorney General Letitia James has sued Capital One (NASDAQ:COF), alleging the company misled consumers about its 360 Savings Account and interest rates. Capital One dodged a similar suit brought by the Consumer Financial Protection Bureau (CFPB), which was dismissed this past spring. The… Read More

May 13, 2025 @ 11:34 pm By Omar Faridi  |  

The financial sector in the US is undergoing a transformative shift, as regulatory challenges that once stifled innovation in digital assets are being addressed with progressive policies and guidelines. According to Chainalysis, a new era is beginning for banks, one where they can explore cryptocurrency… Read More

May 12, 2025 @ 4:35 pm By JD Alois  |  

Kathy Hochul, the Governor of New York, has signed legislation that aims to regulate Buy Now Pay Later (BNPL) providers. The legislation seeks to make it easier for consumers to cancel subscriptions, require platforms to post return and refund policies, make “surveillance price” more transparent,… Read More

May 11, 2025 @ 4:27 pm By Michael Wong  |  

German police have shut down the cryptocurrency platform eXch, confiscating €34 million ($38 million) in digital assets, authorities said, marking one of the country’s largest crypto-related seizures to date. The operation, conducted by the Federal Criminal Police Office (BKA) and the Frankfurt public prosecutor’s office,… Read More

May 10, 2025 @ 4:07 am By Omar Faridi  |  

The Office of the Comptroller of the Currency (OCC) has recently unveiled a series of transformative updates aimed at strengthening bank supervision and embracing technological innovation, particularly in the realm of cryptocurrency. These changes, detailed in Bulletin 2025-9 and News Releases NR-OCC-2025-43 and NR-OCC-2025-44, reflect… Read More

May 9, 2025 @ 2:44 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has stated that the pending enforcement action with Ripple, Brad Garlinghouse, and Christian Larsen has been resolved. The SEC noted that it would ask the court to dissolve the injunction against Ripple from the final judgment revealed in August 2024. An… Read More

May 9, 2025 @ 11:06 am By JD Alois  |  

While European Crowdfunding Service Provider regulation (ECSPR) was expected to fuel the growth of online capital formation in Europe, the actual results have been less than stellar. As Eurocrowd explains, the “patchwork” of rules and significant investment needed to support compliance, disclosures, risk management, and… Read More

May 9, 2025 @ 9:32 am By JD Alois  |  

Alex Mashinsky, the founder and former CEO of Celsius, was once the toast of the crypto town. At one point, Celsius claimed they were adding nearly $1 billion a month in new assets. Mashinsky’s mantra was that banks were not friends while claiming to be… Read More

May 9, 2025 @ 7:55 am By Omar Faridi  |  

Alex Mashinsky, the former CEO of Celsius Network, was sentenced to 12 years in prison on May 8, 2025, for orchestrating a massive fraud scheme that defrauded investors of billions. The sentencing, handed down by U.S. District Judge John G. Koeltl in Manhattan’s Southern District,… Read More

May 8, 2025 @ 5:45 pm By Omar Faridi  |  

The United States under the Trump Administration making significant strides in shaping the future of digital assets, with recent legislative and regulatory developments signaling a decisive and transformative shift in how cryptocurrencies and blockchain technologies are integrated into the financial system. From state-level initiatives to… Read More

May 8, 2025 @ 4:13 pm By JD Alois  |  

The Senate Stablecoin Bill, the Genius Act, or The Guiding and Establishing National Innovation for U.S. Stablecoins (S 1582), failed to get enough votes to gain cloture in the Senate. In effect, a cloture motion can quickly end debate and thus allow for a vote on… Read More

May 8, 2025 @ 9:04 am By JD Alois  |  

Today, the Bank of England cut its Bank Rate by 25 basis points. This is in contrast to the US Federal Reserve’s decision to hold rates steady due to stagflation concerns. The BoE decision was not unanimous with some wanting a more aggressive cut and… Read More

May 8, 2025 @ 8:25 am By JD Alois  |  

The Financial Conduct Authority (FCA) has announced a new executive to operate the Payments System Regulator (PSR), an entity that has been consolidated within the FCA. David Geale will become the Executive Director for Payments and Digital Finance Executive Director and the Payment Systems Regulator… Read More

May 8, 2025 @ 7:26 am By JD Alois  |  

The Bank of England has cut benchmark rates by 25 basis points (bps), setting the Bank Rate at 4.25%. This decision arrived the day after the US Federal Reserve held rates steady, primarily due to economic uncertainty. According to the Bank, the decision to cut… Read More

May 7, 2025 @ 7:06 pm By JD Alois  |  

Loral L. Langemeier and her company Live Out Loud, Inc. have been ordered to pay a penalty and disgorgement following an enforcement action by the Securities and Exchange Commission (SEC). The United States District Court for the District of Nevada has ordered Langemeier to pay… Read More