The NYDFS approved two new stablecoins and sued the OCC; leading crypto firms formed a DC lobbying group; there is now a searchable database of global blockchain projects; Blend appointed former U.S. Treasury Secretary Jack Lew to chair its board of advisors; and LabCFTC will host an emerging trends event on Oct. 3-4 in D.C.
Varo won preliminary approval for a US national bank charter; HSBC is reportedly launching a digital bank startup; IBM plans to demonstrate a blockchain-based cross-border payments service in October; British Airways was hacked, exposing customers’ personal and financial information; and U.K. challenger bank Monese raised $60 million in Series B funding.
The SEC subpoenaed dozens of firms over ICOs; Coinbase will divulge info on 13,000 customers to the IRS; Equifax identified an additional 2.4 million people affected by last year’s hack; the FDIC is a gatekeeper to fintech ILCs; and what’s the Big Idea with Bitcoin mining?
The SEC is on “high alert” for ICOs; the CFTC sued My Big Coin for an alleged Ponzi scheme; Coincheck was hacked for over $500M; Coinbase brought in over $1B in 2017; and blockchain was buzzy at Davos this year.
SoFi has withdrawn its ILC application and the ICBA wants a moratorium on all ILC applications; a DLT PoC shows its potential for global financial services; Hyatt announced it experienced a data breach that exposed customer payment info; China’s government shows its heavy-handedness (again…); and Russia will begin issuing “CryptoRubles” on a blockchain.