TFU | Apr. 8-14

Manny Alvarez was appointed Commissioner of the California Department of Business Oversight; lawmakers introduced a proposed bill to regulate companies’ use of AI tools; Coinbase launched a debit card in the U.K. tied to users’ cryptocurrency accounts; WeLab became the fourth company to acquire an online-only banking license in Hong Kong; U.K. challenger bank Monzo raised $100M in Series F funding; and N26 faced regulatory scrutiny from German regulators over its handling of customer complaints.

TFU | April 1-7

The SEC issued new guidance on digital assets, and also issued a no-action letter regarding digital token use; BNY Mellon and BlackRock partnered on a data sharing agreement; the FSB published a directory of global crypto-asset regulators; Affirm raised $300M in Series F funding; and JP Morgan CEO Jamie Dimon highlighted developments in AI, fintech, and China in his annual letter to shareholders.  

TFU | Mar. 25-31

The U.S. SEC delayed making a decision on two bitcoin ETFs; FICO and Equifax announced they plan to sell customer data to banks; a new report indicates that the majority of crypto exchanges lack appropriate KYC and AML controls; Apple announced it will introduce a new credit card in partnership with Goldman Sachs and Mastercard; and Hong Kong’s securities regulator announced new guidance on crypto token offerings.

TFU |Mar. 18-24

The New York Fed launched a new fintech advisory group dedicated to providing Bank leaders with industry insights; Bank of America announced that its Erica virtual assistant now has six million users; IBM rolled out its World Wire real-time global payments network; Amazon partnered with Worldpay to allow the latter’s merchants to pay with Amazon Pay during checkout; Australia outlined a national strategy for blockchain development and implementation; and FIS will purchase Worldpay for $35B.

TFU | Mar. 11-17

The SEC announced it will hold a public forum on DLT and digital assets; IBM is working with CULedger on a digital identity blockchain system and signed a deal with the French commercial court; PayPal now offers instantaneous money transfers to U.S. banks; the Basel Committee has warned banks about their exposure to crypto; the U.K. FCA is considering eliminating investment platform exit fees; and micro-investing startup Stash raised $65 million in new funding and rolled out new banking services in partnership with Green Dot Bank.

TFU | Mar. 4-10

Federal authorities arrested the leaders of OneCoin on charges including money laundering and securities fraud; Congress held hearings on whether and how to create a federal privacy law; the Bank of England plans to take supervisory action against Visa for a 2018 European data center outage; Philadelphia became the first major U.S. city to ban cashless stores; Ant Financial unveiled a new banking platform; and MasterCard dropped its bid to acquire Earthport.