The Federal Deposit Insurance Corporation (FDIC) has proposed a rule that would establish a prudential framework for FDIC-supervised permitted stablecoin issuers. This framework would include requirements for reserve assets, redemption, capital and risk management standards, the regulator said in a Tuesday (April 7) press release. This is one of the...
A federal appeals court has ruled for the first time that the Commodity Futures Trading Commission (CFTC) has exclusive jurisdiction over sports-related event contracts, Reuters reported Monday (April 6). This decision by the U.S. Court of Appeals for the Third Circuit came in a case...
Credit union groups are continuing their campaign against an Illinois interchange fees law. A federal judge in February upheld the Illinois Interchange Fee Prohibition Act (IFPA), siding with the state’s Attorney General Kwame Raoul over financial services groups. Raoul last week filed a reply brief that seeks...
Small businesses are increasingly at risk for litigation related to website tracking practices. That’s according to a recent report from cyber risk analytics company KYND, which found a steep rise in privacy lawsuits tied to web tracking in the U.S. Small and medium-sized businesses (SMBs) are especially at...
Cryptocurrency exchange Coinbase last week won conditional regulatory approval for a national banking trust charter. And much like previous approvals, this one has drawn criticism from the banking sector, represented here by The Independent Community Bankers of America (ICBA). Soon after Coinbase announced that the...
The Federal Trade Commission’s new strategic plan, which covers the next five years, modified the regulator’s mission statement by returning the phrase “without unduly burdening legitimate business activity,” FTC Chairman Andrew N. Ferguson wrote in a message presenting the plan. In his message, which is among the first pages...
Perplexity went to a federal appeals court on Wednesday (April 1) seeking to overturn an injunction that bars its artificial intelligence (AI) shopping agent, Comet, from accessing Amazon, according to MediaPost. Perplexity is arguing that directing its AI agent to shop on Amazon is no...
The Justice Department will appeal a judge’s ruling from March 26 that blocked the Trump administration’s ban on government use of Anthropic’s artificial intelligence (AI) technology, Bloomberg reported Thursday (April 2), citing a court filing. In the case, Anthropic sued to challenge the Defense Department’s designation of...
The Commodity Futures Trading Commission (CFTC) filed separate lawsuits against Arizona, Connecticut and Illinois Thursday (April 2), saying the states have taken actions that intrude on the regulator’s exclusive jurisdiction to regulate prediction markets. The three states have attempted to outlaw, regulate or otherwise restrain...