Kik is expected to challenge the SEC over an ICO enforcement action; Coinbase rolled out crypto institutional services in Asia; Alipay was granted an EU e-money license; Bitcoin ATM startups reported growth; the EU and Japan finalized a data flow agreement; and IBM landed a $260m IT infrastructure deal with the Bank of the Philippine Islands.
State groups are not pleased about the OCC’s decision to accept bank charter applications from fintech firms; IBM and Maersk are partnering on a blockchain-based global supply chain management platform; the NYDFS will begin enforcing new cybersecurity regulations next month; the U.K. FCA established a Global Financial Innovation Network; and China’s Bitmain is on track to become the first blockchain-focused company with $10B in annual revenue.
The House passed a bill establishing a fintech task force; the SEC rejected the Winklevoss application to list a crypto ETF on the BATS BZX exchange; Google banned cryptocurrency mining apps from its app store; the U.K. FCA tightened crowdfunding rules; the NYT looked at Figure and what it says about #MeToo in Silicon Valley; and Flywire raised $100M.
Square withdrew its ILC application to the FDIC; SIX is building an end-to-end DLT platform to manage trading and settlement; the FCA welcomed new firms into its regulatory sandbox; PayPal completed the multi-billion dollar sale of its consumer credit portfolio; and the EBA published new fintech reports.
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.
The CFTC and FCA set up a transatlantic fintech agreement; Fed’s Dudley warns about crypto “speculative mania”; Zelle is dealing with fraudsters; Circle acquires Poloniex; and Bitcoin mining is becoming big business.