VCs are lobbying the SEC for a crypto token safe harbor; digital banks are supporting changes to the CRA; Zelle has become a favorite tool for fraudsters; the SEC subpoenaed Riot Blockchain; Facebook launched new privacy permissions for EU users; and the EU changed its AML rules to better regulate cryptocurrencies.
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!
Europe considers heightened requirements for fintech firms; the SEC reveals that it was was hacked; a former SEC Chairman says SoFi’s recent scandals may cause problems for its ILC application; and what’s the Big Idea with mobile payments in Asia?