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Latest Results from /regulation

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Banks told to expand risk management to cover AI

A report from the US Treasury has called on banks to bolster their risk management frameworks in order to avoid being overwhelmed by AI-powered fraudsters and cybercriminals.

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EU banks worried about 'unrealistic' instant payment deadlines

A third of EU banks do not currently offer an instant payments service and the majority have been discouraged by the January 2025 deadline, according to recently published research.

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Worldcoin banned in Portugal over privacy concerns

Worldcoin, the crypto biometric project fronted by OpenAI boss Sam Altman, has been temporarily banned in Portugal over data privacy concerns.

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FCA warns FS firms and finfluencers to keep social media ads lawful

As it warns firms and so-called 'finfluencers' to keep their social media ads lawful, the UK's Financial Conduct Authority has published guidance for memes, reels and gaming streams promoting financial services.

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US charges crypto exchange KuCoin with AML violations

The United States has charged cryptocurrency exchange KuCoin and two of its founders with flouting money laundering laws.

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Russia-linked fintechs hit with US sanctions

The US government has imposed sanctions on 13 fintechs for offering crypto-based services to Russian firms looking to evade the economic restrictions in place since the outbreak of war in Ukraine.

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Binance exec escapes Nigerian custody

A Binance executive detained by Nigerian authorities last month has escaped, according to local media reports. Meanwhile, the West African country has charged the cryptocurrency exchange with a host of tax evasion charges.

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Euroclear invests in blockchain company

Post-trade group Euroclear has acquired a stake in Iznes, a pan-European, blockchain-based network within the asset management market.

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Danske Bank signs cloud deal with AWS

Denmark’s Danske Bank has signed a multiyear agreement with Amazon Web Services (AWS) as part of a strategy to invest more in cloud technology.

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Ireland’s fintech funding slumps

2023 saw a 94% decline in funding for Irish fintechs, according to recently published research.

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UK fintech to be elevated to 'ubiquitech' with Smart Data Roadmap, new report reveals

Chair of the Ubiquitech Group Dr. Ruth Wandhöfer has released a report offering practical recommendations for bolstering a digital economy that builds trust, provides access to sustainable infrastructure and secure data highways, and accelerates digital inclusion and education.

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Genesis to pay $21m SEC fine

Genesis has agreed to pay a $21 million civil penalty to the Securities and Exchange Commission (SEC) for the unregistered offer and sale of securities.