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JANUARY 29, 2020

Facebook reported a 51 percent spike in its costs and expenses for the full year 2019 — that increase coming as the social media platform faces more questions from regulators and policymakers about its present and planned endeavors. 29), and reported that total costs and expenses hit some $46.71 Challenges to Come.

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PYMNTS

JULY 16, 2019

Treasury Secretary Steven Mnuchin believes that Facebook’s proposed cryptocurrency could pose as a national security threat. Mnuchin added that the Treasury has informed Facebook, as well as other cryptocurrency users, that they need to implement the same anti-money-laundering and counter-terrorism safeguards as other financial institutions.

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PYMNTS

DECEMBER 24, 2020

If 2020 taught us anything about cryptocurrencies, it’s that they’ve reached a tipping point. Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. Bitcoin, of course, exists as one of the most widely recognized cryptocurrencies.

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PYMNTS

JUNE 2, 2019

North Korean hackers have targeted South Korean cryptocurrency exchange UpBit. In other news, Coinbase has announced that president and chief operating officer Asiff Hirji is leaving the company. There are also reports that Tina Bhatnagar, Coinbase’s current vice president of operations and technology, is leaving.

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PYMNTS

JUNE 20, 2019

Facebook’s Libra cryptocurrency and Calibra digital wallet won’t be available in certain markets. The social media giant shared its plans for both projects, which aim to transform financial services worldwide by empowering the more than 1.7 billion people around the world who currently do not have a bank account.

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PYMNTS

SEPTEMBER 11, 2019

Cryptocurrencies — Facebook’s Libra included — face at least some new headwinds as they target a mainstream embrace. The official said she was planning to meet with the Swiss financial regulator, FINMA, this week, in discussions that according to Coindesk would focus on anti-money laundering (AML) efforts. On Wednesday (Sept.

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PYMNTS

MARCH 8, 2018

The price of the marquee name in cryptocurrencies dipped as low as $9,450 in intraday trading when the Securities and Exchange Commission (SEC) announced there were “potentially unlawful” systems operating that allow the trading of cryptocurrencies. The cryptocurrency dropped to $189, which is the lowest it has been since Feb.

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JUNE 27, 2019

Along with announcing its planned cryptocurrency, Libra, the social media giant revealed that it will create Calibra so users can store and exchange the currency using Facebook apps. the Federal Reserve stated that it will be holding Libra to high standards when it comes to consumer protection and regulation.

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PYMNTS

APRIL 30, 2019

Billionaire Michael Novogratz’s cryptocurrency investment firm lost $272.7 million during its first year of operations. In addition, over 80 percent of victims were contacted through the internet via social media, forums, or email. Galaxy Digital Holding revealed that it had $249.1 The decrease was mainly due to $48.7

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JULY 27, 2018

Reuters , citing a 92-page analysis by the SEC of the bitcoin ETF — which was created by Cameron and Tyler Winklevoss, the twin brothers who started Gemini Trust , a cryptocurrency exchange — reported the SEC wasn’t convinced the ETF couldn’t be manipulated.

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PYMNTS

APRIL 2, 2018

Cryptocurrencies continued to dip on the heels of various regulatory actions focused on trading activities and exchanges. The specific directive from William Galvin, the state’s head securities regulator, commands that those firms abandon the sale of what have been termed “unregistered securities.” Same alarms, different week.

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PYMNTS

JULY 27, 2018

Twitter executives warned that monthly active users have been cut by about three million as the social media platform moved to purge spam and dormant accounts, curb abuse on the system and comply with new privacy regulations. Google has banned apps that mine cryptocurrency in the back of a user’s device.

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PYMNTS

JUNE 28, 2019

David Marcus, Facebook vice president of messaging products and a key developer of the social media firm’s Libra digital currency project, thinks someone with experience in government and central banking would be a great leader for the team that would oversee the currency, according to reports. “We

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PYMNTS

JANUARY 18, 2018

The looming specter of regulatory crackdowns in South Korea on bitcoin and other cryptocurrencies may leave one population collectively shrugging: crypto traders. But the patchquilt of regulations means that fund flows can indeed travel the globe and find exchanges on which to trade cryptos. It’s not that big of a problem.”.

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PYMNTS

JUNE 6, 2019

De Mol’s lawyers accuse the social media giant of failing to prevent the ads, as well as not responding fast enough to complaints. Dutch billionaire John de Mol, who created the reality TV program “Big Brother,” is suing Facebook for allowing fake ads which used his name and image to commit bitcoin-related fraud that swindled 1.7

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PYMNTS

JANUARY 1, 2021

Indian FinTech Cashaa and the country's United Multistate Credit Cooperative Society teamed up to launch what they say is the world's first cryptocurrency bank branch through a joint-venture bank called Unicas, according to a release. The operation also will provide traditional banking services, according to the backers. If the U.S.

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PYMNTS

MAY 6, 2019

The notion that Facebook is going to launch and ignite a global payments network, at scale, based on its own branded cryptocurrency and achieve global merchant and consumer acceptance is as likely as the predictions a decade ago that bitcoin and blockchain would, by now, become the internet of money. A Cryptocurrency Play in Three Acts.

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FEBRUARY 16, 2019

The Crystal City, Virginia HQ2 plans are still underway, as are plans for a new operations hub in Nashville. The most positive thing Dimon could ever bring himself to say about the cryptocurrency seemed to be that he doesn’t care enough about it to be the official spokesman against it.

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Abrigo

JANUARY 31, 2023

Recap and forecast The current state of AML/CFT regulations Terminology change Financial crime professionals have long referred to Bank Secrecy Act (BSA) compliance in conjunction with anti-money laundering efforts as “BSA/AML.” This is to be issued no later than one year after the effective date of the BOI Reporting Rule (January 1, 2024).

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DECEMBER 3, 2019

Decentralized cryptocurrency exchange (DEX) CryptoBridge is shutting down. The exchange posted an announcement on its website to inform users that its services and servers will cease operations after December 15. While users can withdraw funds from the exchange until then, deposits will be closed after December 3. “We 10 deadline.

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Gonzobanker

DECEMBER 14, 2023

The Bank Regulator Working for Merchants Award! Seems like maybe this has been forgotten when it comes to these regulations. The Lifelong Learning Award – goes to NCUA board member Rodney Hood for enrolling in a Wharton graduate program on fintech to be a more informed and effective regulator.

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JULY 15, 2019

It has been about a month since Facebook pulled back the curtain on its vision for Libra – a blockchain-backed cryptocurrency with the lofty aim of connecting the 1.7 And regulators in the U.S. But will regulators want to come to the table – or is it more likely they will want to shut it down?

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OCTOBER 4, 2019

As has been reported, the Libra Association was, until Friday, comprised of the 28 companies had been backing the development and ultimate deployment of the cryptocurrency known as Libra. The company added that it is “supportive of Libra’s aspirations” and said it will look to partner with the social media giant in the future.

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Lex Sokolin

AUGUST 19, 2020

Now, in 2020, with a few years of licensed banking operations, we can take a sober look at what the data is really worth today. For all purposes, Monzo is competing with both Barclays for banking and Apple for the operating system of apps. In Europe, the whole thing is frowned on by regulators and would likely be shut down.

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PYMNTS

AUGUST 5, 2019

There has been no summer slowdown for regulatory overtures toward technology firms, spanning social media, antitrust concerns and the cryptocurrency arenas. Back then, Facebook said the FTC was examining “areas of social networking or social media services, digital advertising and/or mobile or online applications.”.

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OCTOBER 7, 2019

The launch of Libra ignited a global debate over the role of cryptocurrencies in payments and financial services. This document outlines our plans for a new decentralized blockchain, a low-volatility cryptocurrency and a smart contract platform that together aim to create a new opportunity for responsible financial services innovation.”.

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