TFU | Oct. 9-15

SoFi has withdrawn its ILC application and the ICBA wants a moratorium on all ILC applications; a DLT PoC shows its potential for global financial services; Hyatt announced it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.

TFU | Sept. 25 – Oct. 1

Digital currency and ICO regulation continues to dominate the news: The SEC set up a new unit dedicated to it and brought charges for ICO-related fraud; Overstock has a new SEC-compliant exchange platform in the works; Japanese banks are making a national digital currency; and South Korea banned ICOs.

TFU | Sept. 18-24

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?

TFU | Sept. 11 – 17

The OCC says it’s not ready for fintech applications; the CFPB approves its first no-action letter; Cagney steps down from SoFi amid scandal; China bans crypto exchanges; and what’s the Big Idea with open banking?

TFU | May 13-19, 2017

The NYDFS sued the OCC over its proposed “fintech charter,” while the CSBS announced a new initiative to “modernize” state regulation of fintech firms; the CFTC created an internal fintech lab to engage with new products and innovators; SoFi is expanding into the wealth management market; the DTCC produced a new white paper on cloud-based financial markets infrastructure; and IBM is working to build “the world’s first securities lending blockchain platform.”

TFU | May 6-12, 2017

SoFi intends to apply for an industrial loan company (ILC) charter in June, which, if successful, would make it the first new ILC in over 10 years; Chinese mobile payment giant Alipay partnered with First Data to enter the U.S. market; Citi invested in DLT firm Axoni; and The Economist looks at how data has become “the world’s most valuable resource,” and what that means for those regulating it.