The Commodity Futures Trading Commission (CFTC) has announced the members of its newly formed Innovation Task Force (ITF). The CFTC said in March that it was launching the ITF and that the task force would be dedicated to advancing “clear rules of the road” for those who want to...
The Bank of France is pressing for a strengthening of the European Union’s Markets in Crypto-Assets Regulation (MiCA), saying the current regulatory framework does not address all the risks in the sector. Denis Beau, first deputy governor of the Bank of France, said this in...
Klarna said Friday (April 10) that a Swedish court has delayed by two months its judgment in an antitrust case that Klarna subsidiary PriceRunner brought against Google. The Patent and Market Court in Stockholm, Sweden, rescheduled the publication of its judgment from April 15 to...
Rules governing stablecoins are taking concrete form, and the details suggest that banks and FinTechs will face a more exacting set of responsibilities than some may have anticipated. The Federal Deposit Insurance Corporation (FDIC)’s proposed rule that debuted this week under the GENIUS Act establishes...
The Treasury Department has proposed a rule that would require permitted payment stablecoin issuers (PPSIs) to adhere to anti-money laundering (AML) and sanctions compliance obligations. The proposal was included in a joint proposed rule issued Wednesday (April 8) by Treasury’s Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC), according to a Wednesday press...
Regulators’ proposed anti-money laundering (AML) rulemaking, introduced this week, offers a clear path for how compliance will be expected to operate as financial services continue to digitize and expand across platforms. The proposal, issued jointly by the Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA) and...
The federal government’s cybersecurity agency is facing a $707 million budget cut amid a realignment of its focus. This cut for the Cybersecurity and Infrastructure Security Agency (CISA), which is part of the Department of Homeland Security (DHS), is part of the fiscal year 2027 Budget of...
Clearing and treasury infrastructure provider Lorum has filed for a national trust bank charter. “This filing is the culmination of a founding thesis: that the correspondent banking system is not broken because of technology or regulation,” the company said in a Wednesday (April 8) news...
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) and three federal financial regulators proposed rules Tuesday (April 7) that they said will modernize their anti-money laundering and countering the financing of terrorism (AML/CFT) rules and allow financial institutions to focus on higher risks. FinCEN said in a Tuesday press...