The DOJ is investigating crypto price manipulation; U.S. and Canadian regulators are investigating nearly 70 ICOs; BOX and T0 are working on an SEC-compliant, blockchain-based securities exchange; SoFi plans to expand into crypto investing by 2019; and 2018 VC funding for blockchain firms has already surpassed 2017 totals.
The CFPB restructured Project Catalyst; Coinbase is making moves; PayPal is buying iZettle for $2.2B; the WSJ found hundreds of fraudulent cryptocurrency offerings; California is considering a new data protection bill; and Circle gained unicorn status after raising $110M in new funding.
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.
The SEC charged a startup with fraud related to an initial coin offering (ICO); Coinbase is considering becoming an SEC-regulated brokerage; PayPal is rolling out a new debit card and direct deposit service; Monex acquired embattled crypto exchange Coincheck; and India imposed strict constraints on digital currency activities in the country.
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 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.