The New York AG reported three crypto exchanges to the NYDFS; U.K. banks were hit with widespread outages; PNC joined Ripple Net; California prepared the first U.S. IoT security legislation; the U.K. parliament published a report calling for crypto regulation; and Fannie Mae’s GC joined Coinbase.
Fintechs are getting into subprime credit card lending; Tether is facing scrutiny about its cash reserves; Coinbase acquired blockchain identity startup Distributed Systems; the WEF reported on AI and financial services; and Monzo is close to $150M in new funding, which would value it at nearly $1.5 billion.
What’s The Big Idea with Circle, Coinbase, and Revolut all making moves to expand their capabilities? Also: The CFTC subpoenaed several crypto exchanges; Ant raised $14B in the largest fundraising round in history; Google published its AI “code of ethics”; Facebook took another privacy hit; and the CFSI unveiled its 2018 FinLab cohort.
The IRS and SEC upping the pressure on crypto investors; Gemini established a crypto SRO; Coinbase received an FCA e-money license; Google will ban crypto ads; Robinhood eyes a $5B valuation; and Circle launched its new crypto platform.
Telegram raised $850M; Coinbase won’t allow new credit cards; the FCA wants to expand its sandbox; Australia went live with its RTP system; Monzo may try to enter the U.S.; and CNBC looks into Riot Blockchain.
SEC Chairman affirms stance on ICOs; Cleveland Fed says P2P loans look “predatory”; bug potentially freezes over $100M of Ethereum; Apple gets into in-app P2P payments; Revolut applies for an EU banking license; and Deutsche Bank CEO says robots are coming for your bank jobs.