Libra is facing scrutiny from European antitrust regulators; N26 launched in the U.S. market; Mark Carney suggested potentially replacing USD with crypto as the world’s reserve currency; Apple launched its credit card to U.S. consumers; Mastercard experienced a data breach affecting mostly German customers; and Tala raised $110M in Series D 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 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.
The U.S. House heard testimony on fintech and regulation; Zelle is adding 100,000 new customers per day; Lightning Network could mean much more efficient crypto transactions; S. Korea is not banning crypto exchanges; and Alibaba is taking a 33% stake in Ant. Also: what’s the Big Idea with the SEC and CFTC stepping up crypto scrutiny?
The SEC questioned SIFMA about crypto ETFs; Zelle is facing consumer complaints; TechCrunch gives a GDPR primer; Goldman tries to grow its consumer lending portfolio; SC and BB&T have new fintech investment units; and the NYT looks at crypto-mania through the lens of history.