Custodia Bank, a Wyoming-based digital asset bank, has taken legal action against the Federal Reserve Bank of Kansas City and the Board of the Federal Reserve to force the institutions to issue a decision on the bank’s application to access the Fed’s Master Accounts. Get...
Today in TechREG, U.S. Senators Cynthia Lummis and Kirsten Gillbrand have introduced their long-awaited crypto bill that outlines the legal framework for crypto assets and establishes new powers to regulators. Bitcoin and other cryptocurrencies are at the center of the debate in a hearing held...
The Federal Trade Commission (FTC) on Friday (June 3) released on its annual report to the Consumer Financial Protection Bureau (CFPB) on its enforcement and rulemaking activities in 2021 regarding financial acts. The CFPB will use this report to prepare its own annual report for...
Today, a court in Australia found Google liable for defamatory videos posted on its YouTube platforms targeting a senior politician. The court ordered Google to pay around $500,000, but the ruling adds pressure on Big Tech to apply content moderation rules to their platforms. FinCEN...
The Financial Crimes Enforcement Network (FinCEN) on Friday (June 3) issued an Advance Notice of Proposed Rulemaking (ANPRM) relating to the implementation of a no-action letter process at FinCEN. A no-action letter is used as a form of enforcement tool where an agency states by...
Financial regulators have yet to publish a comprehensive set of artificial intelligence (AI)-related rules, as most of the efforts have focused so far on guidelines and principles for financial institutions to make good use of AI. However, senior banking regulator officials warned on Friday (June...
Several House and Senate leaders from both parties will be moving forward with online privacy legislation, The Wall Street Journal (WSJ) wrote Friday (June 3), which would put limits on how consumer data can be collected by companies. Get the Full Story Complete the form...
This week in TechREG, regulators in Europe and the United Kingdom continue exploring new rules in the cryptocurrency space. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe...
This week in TechREG has been quieter than usual as lawmakers didn’t hold congressional hearings and regulators didn’t make important announcements. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
