US CFTC Charges Binance and Top Executives with Wilful Evasion of US Law
The US Commodity Futures and Trading Commission (CFTC) has filed a complaint against Binance, its CEO Changpeng Zhao, and three entities that operate the Binance platform, alleging multiple violations of the Commodity Exchange Act (CEA) and CFTC regulations.
CryptoUK Raises Concerns Over Bank Restrictions on Cryptocurrency Purchase
The trade association CryptoUK has expressed concern to the UK government about recent actions by banks to restrict cryptocurrency purchases.
FCA Issues Warning to Payment Firms Over "Unacceptable" Risks
The Financial Conduct Authority (FCA) has issued a warning to nearly 300 payment firms, stating that they must take prompt action to address "unacceptable" risks to consumers and the financial system or face closure.
Regulator takes control of Silicon Valley Bank
The California Department of Financial Protection and Innovation has taken control of Silicon Valley Bank, with the FDIC appointed as receiver due to concerns of "inadequate liquidity and insolvency.
New Bill Introduced in the US Senate to Restrict Foreign Tech for National Security
A bipartisan bill, backed by the White House and introduced by a dozen U.S. senators on Tuesday, is proposing that the federal government initiate a process to systematically block foreign technology from reaching the domestic market when the technology poses a national security threat. The Restricting the Emergence of Security Threats that Risk Information Communications Technology (RESTRICT) Act could result in restrictions for the social media platform TikTok, which is owned by Chinese company ByteDance, according to its supporters.
Senators Call on Regulators to Address Zelle Fraud
A group of Senate Democrats, led by Elizabeth Warren, have urged financial regulators to take action against fraud related to Zelle, a peer-to-peer payments service owned by seven of the largest banks in the US through Early Warning Services.
Wolters Kluwer creates new Corporate Performance and ESG division to meet bank demand
Source: Wolters Kluwer
Wolters Kluwer, the Dutch technology company, will bring together four of its global enterprise software businesses to form a new division, Corporate Performance & ESG.
SEC Expected to Finalize New Cybersecurity Oversight Regulations Later This Year
The Securities and Exchange Commission (SEC) is the primary regulatory body responsible for overseeing and regulating the securities industry in the United States. As technology continues to advance, so too do the risks and threats associated with cybersecurity. In response to these evolving risks, the SEC is expected to finalize new cybersecurity oversight regulations later this year.
