Latest Regulation & Compliance News: Finextra Research

International crypto tax evasion deal agreed

Nearly 50 countries - including the US, UK, Brazil and Japan - have signed up to new standards starting in 2027 designed to combat cryptocurrency tax evasion.

13 November 2023

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Celsius Network to pay back customers as bankruptcy case concludes

Celsius Network has received approval from a New York judge for a restructuring plan that will repay customers’ assets through new company owned by Celsius creditors and managed by Fahrenheit.

10 November 2023

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NatWest cuts Alison Rose payout following de-banking scandal

NatWest has scrapped over £7.5 million of former chief executive Alison Rose’s payout following her forced resignation due to the shutdown of Nigel Farage’s bank accounts.

10 November 2023

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BlackRock expands crypto strategy with Ethereum ETF application

In a filing through Nasdaq, the world’s largest asset manager revealed its plans to create an ETF that holds Ethereum’s ether token (ETH), bolstering its cryptocurrency strategy.

10 November 2023

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Bitwise distances itself from fraud charges levelled at firm of same name

Bitwise Asset Management distanced itself from charges issued by the SEC and US Department of Justice (DOJ) yesterday, which take aim at the former CEOs of defunct startup Bitwise Industries Inc.

10 November 2023

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Lanistar adds ex-minister Williamson to advisory board; breaks with Modulr

Former UK government minister Gavin Williamson has been cleared to take up a position on the advisory board of fintech Lanistar. Separately, the startup, which has previously found itself in hot water with the FCA, has ended its Electronic Money Directive (EMD) agent relationship with Modulr.

10 November 2023

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How stable are stablecoins? Not very says the BIS

Not a single stablecoin monitored by the Bank for International Settlements has succeeded in maintaining parity with its currency peg, leading to uncomfortable questions about the their utility in the real economy.

09 November 2023

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EU agrees game-changing deal for instant payments

The European Council and European Parliament have struck a provisional agreement on the mandatory provision of instant credit transfers in euros and access to central bank payment rails by non-bank e-money institutions and stablecoin issuers.

08 November 2023

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CFPB proposes oversight of Big Tech digital wallets

The Consumer Financial Protection Bureau (CFPB) wants to regulate tech giants such as Apple and Google that offer digital payment apps and wallets.

07 November 2023

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FCA warns banks over APP fraud and poor treatment of victims

With authorised push payment fraud on the rise, the FCA says banks should strengthen anti-crime systems and must treat victims of fraud better.

07 November 2023

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Musk and Sunak talk AI regulation at the UK’s AI Safety Summit

Towards the end of the UK’s AI Safety Summit taking place this week, Prime Minister Rishi Sunak and tech tycoon Elon Musk sat down for a conversation on artificial intelligence (AI).

03 November 2023

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PayPal receives SEC subpoena over stablecoin

PayPal has received a subpoena from the Securities and Exchange Commission (SEC) requesting documentation about its recently launched stablecoin.

03 November 2023

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