SoFi has withdrawn its ILC application and the ICBA wants a moratorium on all ILC applications; a DLT PoC shows its potential for global financial services; Hyatt announced it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.
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?
The Basel Committee publishes a new paper on fintech. Square applies for an ILC charter. And what’s the Big Idea with ICOs?