The CFPB restructured Project Catalyst; Coinbase is making moves; PayPal is buying iZettle for $2.2B; the WSJ found hundreds of fraudulent cryptocurrency offerings; California is considering a new data protection bill; and Circle gained unicorn status after raising $110M in new funding.
The NYSE’s parent is developing a Bitcoin trading platform; Bloomberg created a cryoto index; Apple and Goldman announced a new credit card; Australia adoted Open Banking rules; the IOSCO created a “Fintech Network”; and Robinhood raised $363M.
A federal judge dismissed the CSBS claim against the OCC regarding its proposed “fintech charter”; The FTC sued LendingClub for alleged deceptive practices; GreenSky filed for an IPO; and The New Yorker looks at efforts to revise the Computer Fraud and Abuse Act.
Gemini will work with Nasdaq on compliance and fraud monitoring; there is a new draft framework for the U.S. Faster Payments Council; cryptocurrencies are increasingly being used for criminal activities; Barclays and PayPal partnered; and Revolut raised $250M, getting a $1.7B valuation.
VCs are lobbying the SEC for a crypto token safe harbor; digital banks are supporting changes to the CRA; Zelle has become a favorite tool for fraudsters; the SEC subpoenaed Riot Blockchain; Facebook launched new privacy permissions for EU users; and the EU changed its AML rules to better regulate cryptocurrencies.
The SEC charged a startup with fraud related to an initial coin offering (ICO); Coinbase is considering becoming an SEC-regulated brokerage; PayPal is rolling out a new debit card and direct deposit service; Monex acquired embattled crypto exchange Coincheck; and India imposed strict constraints on digital currency activities in the country.