Regulatory Financial News

Edelman Smithfield global head of financial services Andrew Wilde speaks to Bim Afolami

El Salvador’s highly anticipated Bitcoin (BTC) bonds, also known as “Volcano Bonds,” have received the regulatory approval for an early 2024 issuance.

Milestone Alert!Livemint tops charts as the fastest growing news website in the world

Quiver Quantitative — The United Kingdom's Competition and Markets Authority (CMA) has announced an investigation into the evolving partnership between Microsoft (NASDAQ:MSFT) and OpenAI, the artificial intelligence company behind the renowned ChatGPT. The CMA's inquiry seeks to determine if the collaboration between these two tech entities amounts to a de facto merger, potentially leading to a formal investigation. This regulatory scrutiny comes in the wake of significant changes at OpenAI, including the temporary dismissal and reinstatement of CEO Sam Altman and the formation of a new board featuring notable figures such as Bret Taylor, Larry Summers, and Adam D’Angelo.

The NAO highlighted that, although the FCA had required crypto firms to comply with anti-money laundering regulations in January 2020, the regulator did not take any enforcement action against illegal crypto operators until February 2023.

RBI plans to set up a regulatory framework for digital lending apps or loan web aggregators to make taking of loans more consumer centric and transparent. The RBI governor, as part of the announcement today after the monetary policy review, said that concerns regarding the functioning of loan web aggregators and loan products that harm customers have come to its notice. Therefore, it proposes to set up a regulatory framework to enhance customer centricity and safety for customers. As per the statement issued, «The Reserve Bank had accepted, vide its Press Release dated August 10, 2022, the recommendation of the Working Group on Digital Lending (Chairman: Shri Jayant Kumar Dash) to come up with a regulatory framework for web-aggregators of loan products (WALP). WALP entails aggregation of loan offers from multiple lenders on an electronic platform which enables the borrowers to compare and choose the best available option to avail loan from one of the available lenders. Based on the recommendation of the Working Group, it has been decided to bring such loan aggregation services offered by the Lending Service Providers (LSPs) under a comprehensive regulatory framework. The framework will focus on enhancing the transparency in the operations of WALPs, increase customer centricity and enable the borrowers to make informed choices. The detailed guidelines will be issued separately.»

US Republican presidential candidate Vivek Ramaswamy has slammed the Securities and Exchange Commission (SEC) criticizing the current crypto regulatory framework.

The recent announcement by Wallet of Satoshi (WoS) to withdraw its app from the U.S. Apple and Google app stores and cease serving U.S. customers marks a significant shift in the Bitcoin wallet landscape. This decision reflects the increasingly challenging regulatory environment in the United States, which has affected not only WoS but other crypto service providers as well.

The industry is proposing a three-tier regulatory mechanism, where SRBs are brought under an oversight committee formed by the government, Dream11 cofounder and CEO Harsh Jain and Games24x7 cofounder and CEO Trivikraman Thampy told ET on Tuesday, on the sidelines of the Indian Gaming Convention here.

Taiwan’s Financial Supervisory Commission (FSC) is exploring the possibility of introducing cryptocurrency exchange-traded funds (ETFs).

Today, cryptocurrency platform Crypto.com gained key regulatory approval in the United Kingdom. The company announced in a press release that it has been authorized as an Electronic Money Institution (EMI) by the UK’s Financial Conduct Authority (FCA).

OpenAI, expressed the significance of the company's work as "extraordinarily important." He emphasized the importance of OpenAI operating as a "corporation with a conscience." According to a report from Bloomberg, Larry Summers stated on Bloomberg Television's Wall Street Week with David Westin that OpenAI has to be prepared to cooperate with key government officials on regulatory issues, on national security issues, on development of technology issues. The statements provide insight into the focus of Summers, a former US treasury secretary, in his role at the Silicon Valley startup. He officially became a member of OpenAI's board this week, following a turbulent leadership dispute that captured the attention of Silicon Valley.

Crypto startup MoonPay has announced the appointment of Mike Lempres, a former executive from Coinbase and Andreessen Horowitz (a16z), to its board of directors.

The move has been made in anticipation of the end of the Temporary Permissions Regime for UK branches of European Economic Area-regulated firms.

SoFi Technologies Inc., a financial services company, has decided to exit the cryptocurrency sector due to increased scrutiny by banking regulators.

Most young financial advisors say artificial intelligence will enable them do their jobs better, but they also say their firms restrict the use of the nascent technology, in part because of regulatory concerns, according to a study released Wednesday.

Ether (ETH) is struggling to maintain the $2,000 support as of Nov. 27, following its third unsuccessful attempt in 15 days to surpass the $2,100 mark. This downturn in Ether's performance comes as the broader cryptocurrency market sentiment deteriorates, thus one needs to analyze whether 

Following his appointment as the new CEO of the world’s largest crypto asset exchange on November 22, Richard Teng has outlined his vision for the platform going forward.

social stock exchange and also decided to introduce a regulatory framework for index providers. Besides, the regulator will put in place a new regulatory framework for facilitating Small and Medium Real Estate Investment Trusts (SM REITS) apart from amending norms to strengthen the protection of investors who have pumped in money into Alternative Investment Funds (AIFs).

Dutch-based cryptocurrency exchange Bitvavo has received regulatory green light in France to act as a digital asset service provider.

In a market buzzing with anticipation and regulatory crosswinds, Bitcoin has once again captured the spotlight, soaring past the $37,000 mark. This latest surge, marked by a nearly 2.75% to $37,353 on Thursday, comes amidst a backdrop of thin holiday trading and a strengthening dollar.