Russia’s attack on Ukraine is now unfolding. More than 5,500 miles away, the United States is ratcheting up sanctions aimed at punishing Russia for its invasion. It remains to be seen whether the escalated sanctions will have the desired effect, pressuring Russia’s economy enough to...
Following the declaration of martial law in Ukraine, the central bank suspended the country’s currency markets, stopped the circulation of all securities, limited cash withdrawals and halted the use of electronic currency and digital wallets. As Russian troops entered the country, the National Bank of...
British Prime Minister Boris Johnson has told finance industry representatives, regulators and trade associations that he wants a tough next round of sanctions on Russia, Reuters said. Johnson reportedly met with regulators and heads of top banks and finance sector industry groups, intending to talk...
In today’s top Europe, Middle East, and Africa news, a coalition has asked EU lawmakers for changes in the Digital Markets Act to allow consumers to sue tech giants for law violations, while global payments platform Flywire Corporation has collaborated with Adapt IT Education to digitize cross-border education...
In today’s top Europe, Middle East and Africa news, Meta is facing an order to suspend data transfers to the United States by the European Union, while Russia’s Ministry of Finance has released a cryptocurrency draft law. Plus, B2B commerce startup Marketforce raised $40 million in a...
In today’s FinTech news, SoFi expands its banking services, while U.K. FinTech CEOs ask to overhaul regulations. London embedded finance startup Weavr raised funds, while the London Stock Exchange Group acquired an all-in-one trading management solutions platform. Over in Africa, Osahon Akpata, Ecobank’s head of...
American banks do not expect to see an impact on their business – or wider risk contagion – due to the sanctions the U.S. and other nations are levying against Russia over the crisis in Ukraine, Reuters reported Tuesday (Feb. 22). Sources inside the banking...
In times of war — or of armed conflicts that are wars in all but name — payments can be weaponized (after a fashion). Or, to put it another way, it remains to be seen whether sanctions against Russia, specifically shutting off ties with U.S....
Members of Parliament took aim at the United Kingdom’s financial regulatory bodies Monday (Feb. 21), alleging they have failed to combat fraud and accused them of being too cozy with financial institutions (FIs), Investment Week reported. At a hearing before the Treasury Committee, staff from...
