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Governance

Source: FCA

The FCA has fined Metro Bank PLC £10,002,300 for breaching the Listing Rules by publishing incorrect information to investors.

The Cambridge Centre for Alternative Finance (CCAF) has launched a new digital hub designed to bring together regulators from across the globe, to collaborate and enhance their efforts to evolve financial services regulation.

Central bank digital currencies (CBDCs) do not pose a threat to cryptocurrencies and would actually help build trust among sceptics by validating the underlying blockchain technology.

The White House has put together a framework for the "responsible development" of digital assets that includes a more aggressive push by regulators to take on fraud in the sector.

The collapse of FTX, and the fact that its failures were more organisational than technological, highlights the importance of properly regulating the crypto sector, says Bank of England deputy governor Jon Cunliffe.

US regulator the Office of the Comptroller of the Currency (OCC) is setting up a financial technology unit to help it keep up with the "rapidly changing banking landscape".

The world's largest crypto exchange, Coinbase, is facing a Federal Class Action lawsuit over allegations that it failed to secure user accounts from hackers and thieves.

Source: Consensys

This afternoon at COP27, the world’s largest gathering on climate action, a group of Web3 companies convened by ConsenSys and Allinfra, joined civil society leaders and the UNFCCC Climate Innovation Hub, to announce the creation of the Ethereum Climate Platform (ECP).

A group of industry associations has pushed back against a second Basel Committee on Banking Supervision consultation on the rules on investments in crypto assets by financial institutions, calling for a host of changes.

The UK's Financial Conduct Authority (FCA) has levied a £12.5m fine against Citigroup Global Markets over past failures to police its trading activity.

The US Department of the Treasury has called for greater regulation of fintech-bank partnerships in order to prevent abuses and protect consumers.

Morgan Stanley Smith Barney (MSSB) has been slapped with a $35 million penalty for failing to protect the personal identifying information (PII) of about 15 million customers.

The US Securities and Exchange Commission (SEC) has launched an investigation into whether Coinbase let customers trade digital assets that should have been registered as securities, according to Bloomberg.

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