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Worldcoin banned in Portugal over privacy concerns

/crypto

Worldcoin banned in Portugal over privacy concerns

Worldcoin, the crypto biometric project fronted by OpenAI boss Sam Altman, has been temporarily banned in Portugal over data privacy concerns.

Visa and Mastercard reach $30bn interchange fee settlement with merchants

/payments

Visa and Mastercard reach $30bn interchange fee settlement with merchants

After nearly 20 years of litigation, Visa and Mastercard have reached a settlement with US merchants lowering and capping credit card interchange rates in a deal that could save the merchants $30 billion over five years.

Russia-linked fintechs hit with US sanctions

/regulation

Russia-linked fintechs hit with US sanctions

The US government has imposed sanctions on 13 fintechs for offering crypto-based services to Russian firms looking to evade the economic restrictions in place since the outbreak of war in Ukraine.

Binance exec escapes Nigerian custody

/people

Binance exec escapes Nigerian custody

A Binance executive detained by Nigerian authorities last month has escaped, according to local media reports. Meanwhile, the West African country has charged the cryptocurrency exchange with a host of tax evasion charges.

Digital wallets play key role in US lawsuit against Apple

/payments

Digital wallets play key role in US lawsuit against Apple

The US has filed a lawsuit against Apple, accusing the firm of monopolising the smartphone market through a host of actions, including the blocking of third-party apps from offering contactless payments.

New York expands Digital Currency Group lawsuit to seek $3bn

/crypto

New York expands Digital Currency Group lawsuit to seek $3bn

New York Attorney General Letitia James has filed an amended lawsuit against crypto firm Gemini and Digital Currency Group, alleging that nearly quarter of a million investors were defrauded out of more than $3 billion, rather than the $1 billion claimed in the initial suit.

/crime

ING receives summons from investors over financial crime controls

Today ING and certain board members were served with a writ of summons for litigation in The Netherlands on behalf of investors who claim to have suffered financial losses in connection with ING’s disclosures on historic shortcomings in its financial economic crime policies, related risk management and control systems, the investigation by and settlement with the Dutch authorities in 2018 and related risks for ING.

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