Governance
AT&T Reaches $177M Settlement Over Massive Data Breaches
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 Disgraceful Attempt to Undermine Cybersecurity Transparency
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.
New Hampshire Establishes First U.S. State-Level Strategic Bitcoin Reserve
New Hampshire has made history by becoming the first U.S. state to establish a Strategic Bitcoin Reserve, following the signing of House Bill 302 into law by Governor Kelly Ayotte.
Global Banks Paid $4.5 Billion in Fines in 2024, with TD Bank Leading the List
Banks worldwide faced a total of $4.5 billion in fines in 2024, with TD Bank accounting for two-thirds of the total after pleading guilty to violating U.S. anti-money laundering (AML) laws.
Financial Trade Groups Urge SEC to Repeal Cyber Disclosure Rule
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.
UK Unveils New Crypto Rules to Boost Innovation and Protect Consumers
Chancellor Rachel Reeves has announced a sweeping set of new regulations aimed at bringing clarity, consumer protection, and fraud prevention to the UK's rapidly growing crypto sector.
Senate Votes to Overturn CFPB Oversight of Big Tech Payment Apps
The U.S. Senate has voted to overturn a Consumer Financial Protection Bureau (CFPB) rule that would have extended regulatory oversight to major tech companies offering digital payment apps and wallets, including Apple, Google, and X.
UK Fintech Hiring Set to Surge 32% in 2025 Amid Strategic Shift
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.
Fed withdraws crypto warnings for banks
The Federal Reserve Board on Thursday announced the withdrawal of guidance for banks related to their crypto-asset and dollar token activities and related changes to its expectations for these activities.
OKX Fined $505M for Violating US Anti-Money Laundering Laws
OKX operator Aux Cayes Fintech has pleaded guilty to running an unlicensed money transmitting business and will pay over $504 million in fines and fees.
OCC Clarifies Rules on Crypto Custody and Execution Services for Banks
The Office of the Comptroller of the Currency (OCC) has issued new guidance outlining the conditions under which national banks and federal savings associations can engage in crypto-asset custody and execution services.
DOJ Disbands Crypto Enforcement Team Under Trump Administration
In a sharp pivot from the previous administration’s approach, Deputy Attorney General Todd Blanche has announced the immediate disbandment of the Justice Department’s digital assets enforcement team.
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.