A New Era for Crypto: SEC Drops Uniswap Investigation
The U.S. financial landscape for decentralized finance (DeFi) appears to be shifting, as the Securities and Exchange Commission (SEC) has terminated its investigation into Uniswap Labs, a prominent decentralized crypto exchange. The probe, which spanned over a year, accused Uniswap of functioning as an unregistered broker exchange and clearing agency while issuing unregistered securities.
UK Government Weighs Folding Payment Systems Regulator into FCA
The UK Government is reportedly considering dissolving the Payment Systems Regulator (PSR) and integrating it into the Financial Conduct Authority (FCA) as part of its broader economic growth agenda. The PSR, while fully independent, already shares some operational services with the FCA.
SEC Launches Cyber and Emerging Technologies Unit to Combat Fraud and Protect Investors
The U.S. Securities and Exchange Commission (SEC) has established the Cyber and Emerging Technologies Unit (CETU) to address cyber-related misconduct and protect retail investors from technology-driven fraud.
Dimon Urges Washington to Reassess Banking Regulations
JP Morgan Chase CEO Jamie Dimon, in a meeting with Republican lawmakers and top bank CEOs, called for a review of financial regulations. He warned that strict rules, particularly anti-money laundering laws, are forcing banks to cut off customers to avoid penalties.
CFPB Fines Wise for Misleading Fee Disclosures
London-based Wise misled U.S. customers with inaccurate fee advertisements and failed to properly disclose exchange rates, according to the Consumer Financial Protection Bureau (CFPB).
Trump Initiates National Crypto Stockpile, Halts Digital Dollar Development
President Donald Trump has issued an executive order establishing a working group on digital assets to craft a federal regulatory framework for cryptocurrencies and explore the creation of a national digital asset stockpile.
Block Hit with $80 Million Fine and Consumer Redress Orders
In a major enforcement action, 48 state financial regulators have fined Block $80 million for violations of the Bank Secrecy Act (BSA) and anti-money laundering (AML) regulations. Block, the parent company of Cash App, agreed to pay the penalty, hire an independent consultant to evaluate its BSA/AML program, and address any deficiencies identified within 12 months. The investigation revealed compliance lapses that could enable illegal activities, including money laundering and terrorism financing.
New ICT Risk Framework: DORA Takes Effect
Today marks the official enforcement of the Digital Operational Resilience Act (DORA), introducing a standardized framework to strengthen Information and Communication Technology (ICT) risk management across financial services.
