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.
The FSB has a report on AI and machine learning in financial services; Visa brings real-time payments to Europe; the U.S. will get bitcoin futures contracts; the SEC told celebrities to cool it on their ICO endorsements; and Quartz has a great report on how Amazon’s cloud is changing the economics of financial services entrepreneurship.
J.P. Morgan launched a new digital bank for millennials. Zelle partnered with IBM. The U.K. said that crypto-currencies are a “low risk” for terrorist financing. The DTCC published a white paper on the current state of fintech. And what’s the Big Idea with America’s fintech lag? Plus, Happy Halloween!