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Massachusetts Regulators To Crack Down On Robinhood

PYMNTS

Robinhood has come under the watchful eye of regulators — this time in Massachusetts. State regulators are set to file a complaint on Wednesday (Dec. 16) saying that the stock-trading platform failed to protect its customers and their assets, violating state laws and regulations.

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Today In Payments: California Proposes Financial Watchdog; Germany Launches Investigation Into Amazon

PYMNTS

Amazon is facing an investigation by Germany’s national competition regulator into the eCommerce giant’s relationship with third-party sellers in Amazon’s second-largest market. The Federal Reserve is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing a digital currency.

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Payfone Nabs $24M In Funding; Partners With TransUnion

PYMNTS

The funding also included participation from existing investors Synchrony, MassMutual Ventures, Massachusetts Mutual Life Insurance Company and Wellington Management. “The fear of identity fraud and cyberattacks holds the digital economy back from its full potential,” said Rodger Desai, CEO of Payfone, in a press release.

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Crypto 2020: One Step Up; Two Steps Back

PYMNTS

Or maybe that cryptocurrencies have yet to go mainstream beyond the headlines because fraud still lurks. At a high level, that means helping crypto companies and FinTechs come to market with crypto payments across the Visa rails. Keeping An Eye On Fraud. It all depends on how you look at it — and where you look, of course.

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Bitcoin Daily: German Crypto Firm Shuttered After Pyramid Scheme Accusations; People’s Bank Of China Denies Bogus Announcement Of Stablecoin Launch

PYMNTS

But in May, authorities in Namibia called Karatbar a pyramid scheme, while last month, Florida’s financial regulator denied that the company had been issued a banking license. I hope everybody will join this platform,” he said in a video, according to The Guardian.

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Main Street SMBs, Digital AP, GoodRx’s IPO Tops This Week’s News

PYMNTS

However, in PYMNTS’ own coverage, the twin external forces of market pressures and regulatory scrutiny are making financial institutions (FIs) retool and bolster their anti-money laundering (AML) efforts. Massachusetts-based accounts payable (AP) automation technology firm MineralTree Inc. Time on Tuesday (Sept. 22) at the earliest.

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Tech Giants’ Stocks Down After Regulatory Oversight Agreements

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Facebook lost $33 billion out of its market cap and settled at $472 billion. Amazon lost around $35 billion off its market cap, which brought that number down to $839 billion. Alphabet stock lost around $47 billion from its own market cap, which dragged it down to $721 billion.