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Hong Kong prepares AI guidelines for finance sector
17.9.2024
Hong Kong’s government plans to regulate AI in finance by issuing policies at the upcoming FinTech Week
UK finance regulator FCA a ‘deterrent’ to crypto industry, says CryptoUK
16.9.2024
UK regulators have approved only four out of 35 crypto business registrations in the last 12 months, deterring others from engaging with the process
Mastercard enables non-custodial crypto spending in new partnership
5.9.2024
Mastercard partners with Mercuryo to launch a euro-denominated crypto debit card, enabling users to spend crypto from self-custodial wallets at over 100 million merchants
US Banking Regulator Calls for Stronger Oversight of Crypto Risks
5.9.2024
Acting Comptroller Michael Hsu has emphasized the importance of proactive oversight in managing crypto risks. He cited the 2022 crypto market collapse, with a $2 trillion loss, where effective supervision kept banks stable. Hsu emphasized the need for vigilant supervision as digital assets...
Fed hits Texas bank with cease and desist over servicing crypto firms
5.9.2024
The US Federal Reserve said it identified “significant deficiencies” in the bank’s dealings with crypto clients and its risk management procedures.
United Texas Bank Faces Regulatory Action for AML Failures Linked to ‘Virtual Currency Customers’
4.9.2024
United Texas Bank has been issued a cease and desist order by the U.S. Federal Reserve and the Texas Department of Banking due to significant compliance deficiencies. The bank must take immediate action to rectify issues related to its anti-money laundering (AML) program and corporate governance...
India’s HDFC Bank Launches New UPI and CBDC Features
2.9.2024
HDFC Bank, a leading private sector bank in India, has introduced new features for Unified Payments Interface (UPI) and central bank digital currency (CBDC) to enhance digital banking for its customers. Announced at the Global Fintech Fest 2024 in Mumbai, India, these innovations, developed...
Chase ‘infinite money’ glitch leaves TikTokers in huge debt
2.9.2024
Users on social media have been reporting a “glitch” with Chase Banks ATMs that allowed them to withdraw large sums without having sufficient funds in their accounts
Robert Kiyosaki Pushes Bitcoin as US Debt Soars to Alarming Levels — Warns of Banking System Failures
25.8.2024
Robert Kiyosaki, the author of Rich Dad Poor Dad, has warned that the U.S. is adding a trillion dollars to its debt every 100 days. He advises investing in gold, silver, and bitcoin to safeguard against economic instability. Kiyosaki also points out the dangers of relying on traditional banks...
Anchorage adds PayPal stablecoin yield to custody platform
22.8.2024
Institutional crypto custodians like Coinbase offer competing rewards programs.
Top Republican Retains Hope U.S. Crypto Legislation Can Get Done This Year
22.8.2024
Sen. Cynthia Lummis said the window is closing, but it's not shut yet
Hong Kong issues generative AI guidelines for consumer protection
20.8.2024
The HKMA introduces new principles for using generative AI, emphasizing governance, transparency, and data protection in consumer-facing applications
Circle proposes new capital-risk framework for Stablecoins
15.8.2024
In July 2024, Circle became the first stablecoin issuer to comply with the European Union's Markets in Crypto Assets regulatory framework
Economist Editorial Claims 2024 Recession Is Inevitable—Is America Ready?
13.8.2024
A U.S. recession in 2024 appears to be on the horizon, according to a recent editorial piece by the Economist. The article surfaces as warnings of an economic downturn grow louder, with the author asserting that “there is no escaping the squeeze ahead for America’s economy.” Economist Article...
Harris campaign’s alleged crypto reset questioned amid Fed's bank action
10.8.2024
Critics argue that the Fed’s actions represent a significant overreach and could stifle innovation in the rapidly growing cryptocurrency sector
MiCA regulation poses ‘systemic risk’ to banking system, says Tether CEO
9.8.2024
According to Tether CEO Paolo Ardoino, recently approved MiCA regulations threaten both banks and stablecoin issuers
Federal Reserve Cracks Down on Customers Bank’s Crypto Strategy
9.8.2024
The U.S. Federal Reserve has taken decisive action against Customers Bank, highlighting significant compliance deficiencies in its digital asset strategy and instant payments network. The enforcement action mandates the bank to bolster its Anti-Money Laundering (AML) protocols and limit risks...
Donald Trump Jr. is launching a crypto platform to ‘take on’ the banks
9.8.2024
Donald Trump Jr. has finally revealed what his cryptic DeFi post on X was all about, and it's got nothing to do with memecoins
Donald Trump Jr. is launching a crypto platform to ‘take on’ the banks
9.8.2024
Donald Trump Jr. has finally revealed what his cryptic DeFi post on X was all about, and it's got nothing to do with memecoins
Federal Reserve Cites Significant Deficiencies in Customers Bancorp’s AML Compliance
8.8.2024
The U.S. Federal Reserve Board has found “significant deficiencies” in Customers Bancorp, Inc.’s management of risk and adherence to anti-money laundering (AML) regulations. These issues, particularly troubling for the bank known for its crypto-friendly stance, were detailed in...