Latest Legal News: Finextra Research

Canadian teen arrested over CAD$46m crypto theft

Canadian police have arrested a teenager in connection with the theft of CAD$46 million in cryptocurrency from a victim in the US.

19 November 2021

News/crypto

Coinbase ditches Lend programme after SEC warning

Coinbase has abandoned its planned interest-earning product two weeks after the cryptocurrency exchange revealed that the SEC was threatening to sue over the issue.

20 September 2021

News/crypto

Binance announces restructure to assuage regulator concern

Cryptocurrency exchange, Binance, is set to centralise its business structure in the wake of intensifying regulatory concern over the firm’s lack of systemic transparency.

17 September 2021

Company update/Legal

Ashurst invites applications for fintech legal labs accelerator

Global law firm Ashurst is calling for FinTechs and GreenTechs to apply to the next cohort of the FinTech Legal Labs, a business accelerator programme aimed at enabling FinTech businesses to gain insight into legal issues affecting their business, as well as accessing the firm's network of corporate clients, leading financial institutions, investors and potential partners.

16 September 2021

News/crypto

Coinbase says SEC is threatening to sue over Lend product

The Securities and Exchange Commission intends to sue Coinbase over a planned interest-earning product, says the cryptocurrency exchange.

08 September 2021

News/security

Fired credit union employee gets revenge by wiping 20GB of data

A US woman who broke into a credit union's computer system and destroyed more than 20 gigabytes of data in retaliation for being fired, has pleaded guilty in a Brooklyn court.

03 September 2021

News/people

Binance hires new Singapore CEO amid ongoing legal battles

Fiat-to-crypto trading platform Binance has today announced the appointment of Richard Teng – former chief executive officer (CEO) of Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM) – as its new CEO, Singapore.

23 August 2021

News/payments

CAT clears way for £10bn Mastercard class action

A £10 billion class action lawsuit against Mastercard over interchange fee charges is finally set to go ahead after getting certified by the Competition Appeal Tribunal (CAT).

19 August 2021

News/retail

Plaid settles $58 million class action lawsuit

Plaid has settled a $58 million class action lawsuit over claims that the fintech firm passed on personal banking data to third party firms without user consent.

09 August 2021

Company update/crypto

Crypto Fraud and Asset Recovery network launched

A group of legal industry professionals comprising lawyers, barristers, forensic accountants, corporate intelligence and asset recovery experts have launched CFAAR – the ‘Crypto Fraud and Asset Recovery’ network, bringing together some of the world’s leading names in crypto disputes and advisory with the purpose of developing and sharing best practice in this rapidly evolving sphere and placing the UK and common law jurisdictions at centre stage for global crypto dispute resolution.

09 August 2021

News/crypto

Misleading crypto ads to be targeted by UK watchdog

The UK's Advertising Standards Authority (ASA) is set to issue a crackdown on misleading cryptocurrency advertisements.

09 July 2021

Company update/people

Broadridge names Keir Gumbs chief legal officer

Broadridge Financial Solutions, Inc. (NYSE: BR), a global Fintech leader, today announced that Keir Gumbs has been appointed Chief Legal Officer, effective July 27, 2021.

08 July 2021

News/people

Moroccan cops nab suspected hacker Dr Hex

Moroccan police have arrested a suspected cybercrook, dubbed 'Dr Hex', accused of a string of phishing, carding and malware campaigns.

07 July 2021

News/regulation

China central bank closes software firm for crypto trading

A Beijing-based software firm has been closed down by China's central bank because of its suspected involvement with crypto trading.

06 July 2021

News/crypto

UK cops seize £114m in crypto

UK police have seized £114 million in cryptocurrency as part of a money laundering investigation.

25 June 2021

News/crypto

Ant Group and Tencent promote their work on digital yuan with PBoC – SCMP

This weekend, the two Chinese fintech giants Ant Group and Tencent prominently displayed posters during the Digital China Summit outlining a “history of cooperation with the PBoC on the digital yuan” according to the South China Morning Post.

26 April 2021

News/crypto

Turkey arrests dozens as crypto exchange boss flees country

Turkish police have arrested 62 people after the Thodex cryptocurrency exchange stopped letting users access their accounts or withdraw money and its founder fled to Albania.

23 April 2021

News/regulation

China’s fintechs face an uphill battle with listings - CNBC

Going public in China is proving to be something of an uphill battle for fintechs, and new guidelines released by the China Securities Regulatory Commission (CSRC) are only further complicating the process.

23 April 2021

Company update/Legal

New UK rules published to enable rapid resolution of blockchain and crypto legal disputes

The UK Jurisdiction Taskforce of LawtechUK, chaired by Sir Geoffrey Vos, Master of the Rolls, has today published its Digital Dispute Resolution Rules designed to enable faster and more cost effective resolutions to legal disputes relating to novel digital technology such as crypto assets, smart contracts, and blockchain applications, and foster confidence amongst businesses in the adoption of these technologies.

22 April 2021

News/regulation

Shearman & Sterling: 'Remove the straitjacket of statutory rules' for UK fintech

During a panel for UK Fintech Week 2021, Barnabas Reynolds, global head of financial services group, Shearman & Sterling emphasised that to build trust in the system and allow space for fintech innovation, that the focus of supervisory systems should be on risk and not unnecessary code or control.

20 April 2021