TFU | Aug. 26 – Sept. 8

FIN urged Congress to apply BSA standards to crypto firms; Jay Clayton affirmed his stance that crypto products are subject to existing securities laws; China’s proposed cryptocurrency is taking shape ahead of an expected go-live later this year; Stripe launched a lending product for online businesses; Uber is exploring offering loans to its drivers; the Hong Kong Stock Exchange suffered cyber attacks; and U.K. digital banks are expected to triple their customer base over the next year, but likely will remain unprofitable. 

TFU | Aug. 19-25

Libra is facing scrutiny from European antitrust regulators; N26 launched in the U.S. market; Mark Carney suggested potentially replacing USD with crypto as the world’s reserve currency; Apple launched its credit card to U.S. consumers; Mastercard experienced a data breach affecting mostly German customers; and Tala raised $110M in Series D funding.

TFU | Aug. 12-18

New York regulators approved Bakkt to offer Bitcoin futures; Barclays has ended its relationship with Coinbase in the U.K.; Venmo rolled out instant bank transfers; the woman responsible for hacking Capital One may have targeted 30 other firms; TransferWise has launched a debit card in Australia and New Zealand; and Funding Circle surpassed the $10 billion mark in its combined global lending.

TFU | Aug. 5-11

The Federal Reserve plans to launch a real-time payments system within the next five years; Robinhood received approval from the U.K. FCA to operate as a broker in the country; Walmart is seeking a patent for a digital currency that customers could use within the retailer’s ecosystem; Apple updated its website ahead of the launch of Apple Card; Swedish payments firm Klarna raised $460M, making it the most valuable European fintech; and the FT discusses India’s importance as a battleground for digital payments market share between American and Chinese competitors.

TFU | Jul. 29 – Aug. 4

Rakuten is applying for an ILC charter in Utah; Venezuelan president Nicolas Maduro was accused of using cryptocurrency to evade international financial sanctions; the U.K. FCA published guidance on crypto assets; Capital One disclosed that a data breach exposed the personal information of 100 million customers; and the London Stock Exchange is acquiring Refinitiv for $27B; and LabCFTC Director Gorfine is leaving the agency.

TFU | July 22-28

The U.S. Treasury Secretary said U.S. regulators are likely to issue new crypto regulations; despite misgivings about Facebook, Congress appears unlikely to block its plans to go live with Libra; the IRS is warning U.S. taxpayers to review and potential revise their tax returns to account for gains from crypto transactions; Apple’s new credit card is expected to launch in August; Robinhood raised over $300 million at a $7.6B valuation; and Facebook is readying its launch of WhatsApp Pay in India.