Warnings on stablecoins from a trio of regulators may cause banks to seek digital alternatives instead. And digital dollars (aka CBDCs) and tokenized deposits issued by traditional banks may be among those options. The Federal Reserve, the Federal Deposit Insurance Corp. and the Office of...
Japan is reportedly readying regulations that would let foreign stablecoins list on the country’s exchanges. According to a Monday (Dec. 26) report by Japan’s Nikkei newspaper, the country’s Financial Services Agency (FSA) is asking for feedback on the new regulations, which will let local distributors handle payments-focused...
The Federal Trade Commission (FTC) wants Mastercard to share card data with competing payment networks. Under a proposed order announced Friday (Dec. 23), Mastercard will have to share with competing networks the customer account information needed to process debit payments, the FTC said in a press release. “This is a victory for...
Ireland’s Data Protection Commission is looking into Twitter after a 5.4 million user data breach. The commission released a statement Friday (Dec. 23) that it is probing the social media platform after receiving reports of a massive 2021 data leak that exposed user data for...
Brazilian President Jair Bolsonaro has signed a bill creating crypto payment regulations. Bolsonaro made no modifications to the bill approved by Congress before signing it into law on Thursday (Dec. 22), according to multiple reports published Thursday, including Nasdaq. The new law is to go...
The CFPB fined Wells Fargo a $3.7 billion fine for its handling of loans and banking programs. The record penalty, announced Tuesday (Dec. 20), exceeds the $2 billion the banking giant had set aside in anticipation of a regulatory settlement of the case. According to Consumer Financial...
Fortnite game creator Epic Games will pay $520 million for violating two FTC rules. The Federal Trade Commission (FTC) said in a Monday (Dec. 19) press release that the video game company will pay a penalty of $275 million for violating children’s privacy law and...
As Congress prepares to adjourn, tech companies and regulation advocates are making themselves heard. The advocates are pushing for some major bills in Congress. At the same time, the tech companies have deployed over $100 million in lobbying efforts, advertising programs and grassroots pressure to...
Disagreements among federal prosecutors have slowed an investigation into cryptocurrency exchange Binance. Some of the prosecutors in the Department of Justice (DOJ) case say the government has enough evidence to charge the exchange — the largest in the world — and its founder, Changpeng Zhao,...
