A national bank charter promises FinTechs a more direct route into U.S. financial services. But the Office of the Comptroller of the Currency (OCC) is making clear that getting one requires more than transplanting an existing technology or overseas banking model into a federally regulated...
The Federal Deposit Insurance Corporation (FDIC) has approved deposit insurance for a proposed national bank built in part around digital assets and stablecoins. The approval provides one of the clearest signals yet that federal regulators are willing to bring cryptocurrency-focused business models inside the federally...
American banking regulators have reportedly turned down Dutch FinTech Bunq’s request for a banking license. The Office of the Comptroller of the Currency (OCC) denied the request Friday (Aug. 7), telling Bunq the company needed to offer more insight into its American expansion plans, Bloomberg...
The Senate’s latest compromise draft of the Digital Asset Market Clarity (CLARITY) Act attempts to bridge many of the disputes that have stalled comprehensive U.S. digital asset legislation. The revised text pairs expanded regulatory certainty for the cryptocurrency industry with stronger consumer protection, anti-money laundering...
OpenAI asked a judge to dismiss Apple’s lawsuit accusing the company of stealing trade secrets. The artificial intelligence startup said Apple’s claims have no merit, and its lawsuit falsely portrays its employees’ actions, according to documents filed Wednesday (Aug. 5) by OpenAI in federal court....
A coalition of civil rights, labor, consumer advocacy and technology accountability organizations is urging the U.S. Senate to remove provisions establishing federal AI regulatory sandboxes from the proposed CLARITY Act. The request opens a new front in the debate over how lawmakers should govern artificial...
The Consumer Financial Protection Bureau (CFPB) plans to reconsider a final rule on personal financial data rights that became effective in January 2025, according to a rulemaking update posted in a pending regulatory review notice by the Office of Information and Regulatory Affairs. The final...
Alaska has joined a growing wave of states modernizing their money transmission laws to bring virtual currency businesses more squarely within existing financial regulatory frameworks. The state’s new law, Senate Bill 86, enacted June 30, replaces Alaska’s existing money transmission statutes with a comprehensive modernization...
The United Kingdom’s Competition Appeal Tribunal rejected Google’s bid to block a class action lawsuit brought by advertisers alleging that the company abused its position in mobile operating systems, app distribution, search and search advertising to overcharge advertisers and exclude competitors. In its Wednesday (Aug....