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FinCEN and OCC address cryptocurrency: responsible innovation and pervasive hype

CFPB Monitor

On May 19, 2022, the Associate Director of the Enforcement and Compliance Division of the Financial Crimes Enforcement Network (“FinCEN”), Alessio Evangelista, spoke at the Chainalysis Links Conference in New York City on the topic of “The Intersection of Cryptocurrencies and National Security.” Responsible Innovation “.

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Is the U.S. Keeping Up in the Digital Asset Space?

Abrigo

Innovation is key in the world of decentralized currencies The United States will have to be creative to stay competitive globally as digital assets enter the mainstream. The innovative world of digital assets has made big strides since its inception in 2009. National objectives in cryptocurrency policy. Rapid Growth.

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Cambodia, Singapore In X-Border FinTech Pact

PYMNTS

Among the most recent headlines, in Asia this past week, the Monetary Authority of Singapore (MAS) and the National Bank of Cambodia have signed a memorandum of understanding (MOU), that Business Times said will boost partnerships on FinTech and financial services innovation.

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Why Rural Shoppers Need Digital Innovation Too

PYMNTS

Mostly because that is where innovations tend to get their start — ridesharing, delivery on demand, one-day shipping, buy-online pick up in-store, experimental experiential retail locations, pop-up shops and the list goes on (and on). “Our Barbarick also noted the firm’s intention to continue expanding its digital expansion efforts.

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Visa Seeks Patent On System To Turn Government Currencies Into Digital Blockchain Versions

PYMNTS

Visa further said the technology would allow transactions using digital fiat currency “to be processed and completed immediately without requiring settlement and clearing processing.”. A central entity may maintain exclusive rights to create or destroy currency in a region such as a nation.

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OppFi files complaint to block “true lender” challenge by California Department of Financial Protection and Innovation

CFPB Monitor

The complaint recites that prior to 2019, the Bank entered into a contractual arrangement with OppFi (Program) pursuant to which the Bank uses OppFi’s technology platform to make small-dollar loans to consumers throughout the United States (Program Loans). Section 160.110(d). Section 7.4001(e).

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Singapore Eyes ‘Bringing Together’ Banks And FinTech Firms

PYMNTS

The emergence of new technologies may still engender wariness from banks and, as the regulator told the newswire, he “would not blame” banks for choosing to not open accounts for cryptos holders. In reference to the IMF-World Bank meetings, FinTech garnered attention, as the IMF trained its sights on financial innovation.

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