In an effort to make sure digital payment transactions are regulated in India, the country’s reserve bank has issued a request for digital payments banking platform Paytm Payments Bank to reapply for its license to operate in India. A Saturday (Nov. 26) press release detailed the...
A proposal that would have allowed Britain’s finance ministry to overturn decisions made by financial regulators has been removed from a bill that is now moving through Parliament. This “intervention power” had been proposed in October by U.K. financial services minister Andrew Griffith but was...
Even though nonbanks are just what the name implies, in the eyes of regulators, some say it might be easier to treat them as if they were. For FinTechs, that approach may have a bit of a dampening effect on efforts to offer banking and...
U.K communications regulator Ofcom is calling for better social media regulations amid concerns about the influence U.S.-based Big Tech firms have on news consumption in the U.K. “U.S. tech firms increasingly shape the news stories that people in the U.K. see and read […] leading...
The downfall of crypto trading platform FTX has triggered a worldwide regulatory investigation, and now the U.S. House Financial Services Committee is undertaking a bipartisan hearing on the matter in December. The committee will focus on the once-heralded exchange’s collapse and the broader consequences of...
Aiming to determine Japan’s exposure to FTX, the country’s Financial Services Agency (FSA) has reportedly asked local cryptocurrency exchanges if the collapse of FTX and its affiliated companies has affected their businesses. The financial regulator has found “minimal impact” upon the local exchanges, Bloomberg reported...
The Securities Commission of the Bahamas — the country in which now-bankrupt cryptocurrency exchange FTX is headquartered — has announced the appointment of liquidators for the company. The commission said in a Monday (Nov. 14) press release that it appointed attorney Brian Simms as a...
Noting the losses that retail investors have suffered in the cryptocurrency market, Federal Reserve Vice Chair Lael Brainard has reportedly reiterated her view that the market should be regulated like traditional finance, with “strong regulatory guardrails.” The same rules should apply to the crypto market...
The U.S. Attorney’s Office for the Southern District of New York is reportedly investigating the collapse of cryptocurrency exchange FTX as well as the firm’s handling of its customers’ funds. The prosecutors at this office of the U.S. Department of Justice (DOJ) have joined officials...
