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SEC Files Lawsuit Against Ripple Over Unregistered Securities

PYMNTS

Securities & Exchange Commission (SEC) has filed action against Ripple over allegedly conducting a $1.3 billion unregistered securities offering, Reuters reported on Tuesday (Dec. The lawsuit comes after a debate over whether XRP is a security and should be registered with the agency.

Security 176
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Americans Rush To Download WeChat App In Advance Of Ban

PYMNTS

Last week, the Commerce Department announced that the prohibitions on WeChat and TikTok transactions are based on the president’s executive order issued in August over national security concerns. 18) through Saturday (Sept, 19) WeChat was installed about 54,000 times, according to Sensor Tower, the San Francisco-based data analytics company.

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DOJ Seeks To Overturn Ruling To Prevent WeChat Ban

PYMNTS

DOJ attorneys asked the Ninth Circuit Court of Appeals in San Francisco to examine U.S. In August, citing data security issues, President Donald Trump issued executive orders banning WeChat and its parent company Tencent Holdings as well as TikTok, which is owned by ByteDance Ltd. “We Beeler, who serves in the U.S.

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SEC: Some Crypto Coins Are Securities (Not Bitcoin)

PYMNTS

The Securities and Exchange Commission’s (SEC) leading authority on bitcoin, cryptocurrency and initial coin offerings (ICOs) has ruled that some well-known cryptocurrencies like bitcoin and Ethereum are not securities. As such, they can expect to come under the regulatory control of the SEC and relevant securities laws.

Bitcoin 159
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Plaid To Focus On Growing European Market

PYMNTS

The focus for the San Francisco-based company is now on broadening its global reach after an acquisition for $5.3 Plaid allows users to securely connect and share data their financial accounts to their apps, like Venmo. FinTech startup Plaid is looking at doubling its size in Europe, Bloomberg reported.

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Fintech Is Back

Bank Innovation

EXCLUSIVE (SAN FRANCISCO) -- Welcome back to the fintech boom. But the fintech market has rebounded. At this time last year, fintech was in a downturn. Fintech venture funding was down more than 9% year-over-year; valuations seemed stuck.

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Can Banks Solve their Small-Dollar Loan Problem with Fintech Partnerships?

Bank Innovation

Aura, a San Francisco-based fintech offering affordable loans to low to moderate-income households, wants to partner with banks to offer those loans to consumers who have traditionally been unable to secure them from larger institutions.