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Legal

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US judge says cryptocurrencies are commodities

US judge says cryptocurrencies are commodities

US lawmakers continue to wrestle with how to approach cryptocurrencies, as a federal judge says the likes of bitcoin can be treated as commodities by the CFTC, FinCEN says money transmitter rules apply to ICOs, and Wyoming's state legislature clears a bill exempting some crypto assets from securities laws.

07 March 2018

Nasdaq sues competitor IEX over alleged technology rip off

Nasdaq sues competitor IEX over alleged technology rip off

Nasdaq has filed a patent infringement lawsuit against rival IEX, extending a long-running battle with the upstart exchange.

02 March 2018

R3 creates Legal Centre of Excellence for blockchain technolgy

R3 creates Legal Centre of Excellence for blockchain technolgy

Financial blockchain coalition R3 has assembled a group of ten legal firms in an effort to educate lawyers on the contractual intricacies surrounding the live deployment of distributed ledger technologies.

20 February 2018

'In fraud we trust': US indicts 36 over $530m cybercrime operation

'In fraud we trust': US indicts 36 over $530m cybercrime operation

The US Department of Justice has indicted 36 alleged members of a cybergang accused of causing more than $530 million in losses through the acquisition and sale of, among other things, compromised debit and credit cards and banking information.

08 February 2018

US charges two over ATM jackpotting scheme

US charges two over ATM jackpotting scheme

US authorities have charged two men with bank fraud after they allegedly used malware to jackpot ATMs and empty the machines of cash.

06 February 2018

Swedish court backs Nasdaq in data centre wrangle

Swedish court backs Nasdaq in data centre wrangle

A Swedish court has dismissed years-old allegations that Nasdaq abused a dominant market position to prevent rival exchange operator Burgundy from renting space in a data centre.

19 January 2018

BofA leads on blockchain patents

BofA leads on blockchain patents

Bank of America has filed for or received more blockchain-related patents in the US than any other firm, beating out Mastercard and IBM for the top spot, according to research from law firm EnvisionIP.

17 January 2018

Fired Barclays trader testifies about use of FX algos

Fired Barclays trader testifies about use of FX algos

A London court has heard testimony from a fired Barclays FX trader about his use of the bank's FX algorithmic trading system in his bid to win his job back, reports Bloomberg.

15 January 2018

Europe begins Open Banking era in subdued style

Europe begins Open Banking era in subdued style

The EU's second Payment Services Directive (PSD2) took effect on Saturday 13 January, bringing with it the start of Open Banking, however the prospect of a sudden revolution is likely to be thwarted by unresolved technical and regulatory issues and a lukewarm reception from consumers.

15 January 2018

Crypto mining threatened by power capacity concerns

Crypto mining threatened by power capacity concerns

The craze for cryptocurrency mining is putting increasing strain on electrical grids, raising concerns about capacity around the world and the prospect of a migration of coin mining operators to new jurisdictions.

12 January 2018

Buffett rubbishes cryptocurrencies; South Korea preps exchange crackdown

Buffett rubbishes cryptocurrencies; South Korea preps exchange crackdown

Warren Buffett, arguably the world's most successful and respected investor, has issued a scathing assessment of cryptocurrencies and predicted a "bad ending" for the current bitcoin boom.

11 January 2018

Judge dismisses New York regulator's fintech charter lawsuit

Judge dismisses New York regulator's fintech charter lawsuit

A US judge has dismissed a lawsuit brought by the New York Department of Financial Services (NYDFS) seeking to block plans by the Office of the Comptroller of the Currency (OCC) to grant fintech charters.

15 December 2017

Visa claims UK interchange victory

Visa claims UK interchange victory

Visa is looking to play nice with UK retailers after scoring a High Court victory in a long-running battle over interchange fees.

30 November 2017

Community bankers sue Equifax over massive data breach

Community bankers sue Equifax over massive data breach

The Independent Community Bankers of America (ICBA), which represents 5700 institutions, has filed a lawsuit against Equifax for its recent breach of 145.5 million consumer records and 209,000 payment cards.

29 November 2017

Brexit uncertainty causing skills gap say UK tech leaders

Brexit uncertainty causing skills gap say UK tech leaders

The ongoing uncertainty around freedom of movement post-Brexit is affecting the recruitment of technology talent and causing concern among UK tech entrepreneurs about a possible skills shortage.

16 November 2017

Ripple and R3 trade blows in legal dispute

Ripple and R3 trade blows in legal dispute

Blockchain startups Ripple and R3 are going to court to resolve a dispute over the unilateral termination by Ripple of an options contract on its XRP digital currency unit held by R3.

11 September 2017

Square applies for bank status

Square applies for bank status

Square, the fintech startup headed by Twitter founder Jack Dorsey, has made an official application in the US for a banking license, ending months of speculation about its plans but also reigniting the argument about the use of industrial loans charters (ILCs).

07 September 2017

Intel granted review into its €1bn EU fine

Intel granted review into its €1bn EU fine

Chip processor Intel has taken a significant step towards overturning a €1bn fine imposed by the European Commission (EC) after it won the right to a review.

07 September 2017

New EC rules could enable banks to increase their software spending

New EC rules could enable banks to increase their software spending

European banks under siege from digital challengers and sophisticated cyber attackers could face some relief from a possible change in accounting rules that will enable them to spend more on new software.

06 September 2017

China's central bank issues instant ban on initial coin offerings

China's central bank issues instant ban on initial coin offerings

The People's Bank of China (PBoC) has announced an immediate ban on initial coin offerings (ICOs)declaring them illegal and a threat to financial stability.

04 September 2017