In a significant move for cryptocurrency regulation, the U.S. House of Representatives passed the Genius Act this week—formally titled the Guiding and Establishing National Innovation for US Stablecoins. The bill aims to regulate payment stablecoins by prohibiting issuance from anyone other than approved issuers. Marking a first for national-level crypto legislation, the Genius Act provides a framework for stablecoin oversight in the U.S. and is expected to be signed into law by President Trump before the end of the week.

Money transfer firm Wise has been fined $4.2 million by a coalition of U.S. state regulators—including New York, Massachusetts, California, Texas, Minnesota, and Nebraska—for failing to maintain adequate anti-money laundering (AML) controls.

The UK Government is taking steps to simplify regulatory compliance for fintech firms, as part of its broader effort to drive economic growth. In 2024, the fintech sector attracted $3.6 billion in investment, making it a key component of the UK’s growth strategy.

A federal judge has granted preliminary approval for AT&T to settle numerous data breach lawsuits for $177 million. U.S. District Court Judge Ada E. Brown ruled that the settlement appears “fair, reasonable and adequate” and in the best interest of the plaintiffs.

A coalition of banking industry associations, including the ABA and BPI, is pressuring the SEC to roll back its rule requiring public companies to disclose material cybersecurity breaches within four days.

A coalition of major U.S. financial trade associations is urging the Securities and Exchange Commission (SEC) to revoke its cyber incident disclosure rule, citing concerns that it harms rather than protects companies and investors.

Despite persistent economic headwinds and a cooling venture capital climate, UK fintech firms are poised to boost professional hiring by 32% in 2025, according to a new report from Morgan McKinley and Vacancysoft.