Regulators at the Federal Reserve reportedly grown impatient with Citigroup’s response to its complaints about the bank’s systems for preventing mistakes. The regulators have repeatedly met with executives of the bank and have cautioned them that it could take more actions if the bank doesn’t...
Binance Founder and CEO Changpeng “CZ” Zhao reportedly said the European Union’s proposed regulation of cryptocurrency is “fantastic,” though he does have some reservations about it. Speaking Wednesday (Sept. 14) at the Binance Blockchain Week event in Paris, the crypto exchange leader said the proposed...
An Indian federal agency has reportedly conducted searches at some PayU and Paytm locations, with the latter being owned by One 97 Communications. The agency, the Enforcement Directorate (ED), is the country’s financial crime fighting agency, Reuters reported Wednesday (Sept. 14), citing CNBC-TV18. A Paytm spokesperson...
U.S. Sen. Lindsey Graham, R-S.C., who has been oft-critical of social media companies, said he wants to regulate and maybe license the companies, including big names like Meta’s Facebook or Twitter, Reuters wrote. Graham said he’s working on a measure with Sens. Elizabeth Warren (D-MA)...
The U.S. Securities and Exchange Commission (SEC) will add offices to its Division of Corporate Finance’s Disclosure Review Program (DRP), including an Office of Crypto Assets, a press release said Friday (Sept. 9). The Office of Crypto Assets will do the work currently done across...
In the saga of Big Tech companies and their seemingly never-ending confrontations with EU legislators, issues surrounding what the EU calls “digital sovereignty” are among the most intractable. The European Parliament has defined digital sovereignty as “Europe’s ability to act independently in the digital world”...
About six weeks into his new role as Federal Reserve Vice Chair for Supervision, Michael Barr’s first speech focused on safety and fairness as he hinted at tougher oversight of cryptocurrency, bank mergers and climate change. “Safety and fairness may seem like distinct goals, but...
A major Congressional effort to create regulations around stablecoins has hit a bump in the road, and while negotiations still ongoing, they are likely to extend beyond what the calendar allows. The negotiations come down to the Democratic chairwoman of the panel, Maxine Waters, and...
Alloy, which works on helping banks and FinTechs with identity decisioning and threat selections with API service and SaaS, has a $1.55 billion valuation now after raising $52 million recently, a report said. That comes 11 months after it elevated $100 million at a $1.35...
