Regulatory Developments

Open tender for Multi-technical maintenance works and maintenance of physical security systems – DEADLINE 20/07/2020 – 23:59

Tuesday 15 June 2021 16:18 This tender procedure is for “Multi-technical maintenance works and maintenance of physical security systems”: All documents related to this call for tender are downloadable and visible following the TED eTendering link published below and in the contract notice. All of the information is…

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SEC’s Gensler takes aim at Bloomberg’s BSBY index

Credit sensitive SOFR alternative has “many of the same flaws as Libor”, regulator says

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Funds Trading in Bitcoin Futures – Investor Bulletin

The Securities and Exchange Commission’s (SEC’s) Office of Investor Education and Advocacy (OIEA) and the Commodity Futures Trading Commission’s (CFTC’s) Office of Customer Education and Outreach (OCEO) urge investors considering a fund with exposure to the Bitcoin futures market to weigh carefully the potential risks and benefits of the investment. Among other things, investors should … Read more

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Investor Bulletin: How to Open a Brokerage Account

The SEC’s Office of Investor Education and Advocacy is updating this Investor Bulletin to help you understand what to expect when opening a brokerage account, including what information you will need to provide, what decisions you will be asked to make, and what questions you should ask your broker. Brokerage accounts differ from investment advisory … Read more

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Basel Committee proposes strict treatment of crypto asset exposures

Crypto assets such as bitcoin will face risk weight of 1,250%

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Cybersecurity, Data and AML/Sanctions

Data Leak At Alibaba’s Shopping Site Taobao Exposed Billion Bits Of User Info

A Chinese software developer used web-crawling software to scrape 1.1 billion pieces of data from Alibaba’s Taobao shopping platform, the Wall Street Journal (WSJ) reported on Tuesday (June 15), referring to a court verdict in China. The data leak included user IDs, mobile phone numbers and user comments, WSJ reported, citing the verdict that was … Read more

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Gebeya launches revamped freelance talent marketplace platform

‘Gebeya‘ is Amharic for a marketplace. The company connects startups and SMEs to talented professionals across Africa. This platform offers an intelligent matching algorithm that considers budget, language, location, and automated matching. Users can also access on-site or remote talent in graphic design, software development, artificial intelligence, cybersecurity, digital marketing, and product development. We earlier … Read more

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Every workplace can be a place of continual learning

While businesses in every sector have been working toward a digital transformation for the past several years, covid-19 accelerated this shift across industries. New technologies are advancing at a pace that requires employers to continuously retrain their workforce to stay current. Organizations must become places of learning if they are to prepare workers for jobs … Read more

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Used Smartphone Reseller ecoATM Nets $75 Million For Expansion

EcoATM Gazelle, the global smartphone and mobile device reCommerce company, has raised $75 million in new growth equity from existing investor Cowen Sustainable Advisors, a press release said Monday (June 14). The funding will go toward allowing the company to expand more and support product extensions intended to meet quickly expanding demand. According to the … Read more

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Inside the fight to reclaim AI from Big Tech’s control

Timnit Gebru never thought a scientific paper would cause her so much trouble.  In 2020, as the co-lead of Google’s ethical AI team, Gebru had reached out to Emily Bender, a linguistics professor at the University of Washington, and the two decided to collaborate on research about the troubling direction of artificial intelligence. Gebru wanted … Read more

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Crypto/Blockchain

What it’s like to house hunt in one of the craziest markets in the country

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Central American Bank for Economic Integration to Help El Salvador Implement Bitcoin as Legal Tender

The Central American Bank for Economic Integration (CABEI), which has 15 member countries, will help El Salvador implement bitcoin as legal tender. The CABEI president has expressed his support. “We’re very optimistic,” he said. Central American Bank for Economic Integration Supports El Salvador’s Bitcoin Law The head of the Central American Bank for Economic Integration … Read more

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CNN selling historic news ‘moments’ as NFTs

CNN has followed Fox and Time Magazine into the NFT market, announcing the launch of collectible historic moments from the news. CNN’s NFT project is dubbed “Vault by CNN: Moments That Changed Us” and includes a series of tokenized iconic moments from its 41-year history, along with a vault to purchase, store and display the … Read more

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General Motors CEO: ‘Nothing Precludes GM From Accepting Bitcoin if There’s Consumer Demand’

The CEO of General Motors (GM), America’s largest automaker, says that nothing precludes her company from accepting bitcoin if there is consumer demand for it. “Certainly, we want to make the whole buying and ownership experience as easy as possible,” said the GM chief executive. GM Will Accept Bitcoin if There’s Demand, CEO Indicates Mary … Read more

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Fed Expects 2 Rate Hikes in 2023, Stock Market Plunges, Powell Anticipates Higher Inflation

The Federal Reserve on Wednesday told the public that it has forwarded the time frame for raising interest rates. “Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain,” the Federal Open Market Committee (FOMC) said in a statement. The … Read more

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Banking, Finance and Investment

BMO Harris Bank picks FIS for multi-year core banking transformation

Chicago-based BMO Harris Bank has signed a multi-year core banking modernisation deal with FIS. BMO is a longstanding user of FIS systems The bank will deploy the FIS Modern Banking Platform to underpin expected growth in its retail banking operations. BMO is a long-standing FIS client, but will now add the vendor’s Digital One, Code … Read more

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Podcast 302: Kirk Drake of Credit Union 2.0

There are more than 5,000 credit unions in the United States according to the NCUA. Most of them are small with very limited budgets and capacity when it comes to technology. But the expectations of their members are changing and most want a smooth tech-enabled experience from their financial services provider no matter their size. … Read more

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GrabPay, the In-App Digital Wallet of Super App Grab, Introduces DuitNow QR Feature in Malaysia

GrabPay, the in-app wallet of Super app Grab, recently announced that it has introduced the GrabPay DuitNow QR feature across Malaysia. The GrabPay digital wallet was reportedly the first in Malaysia to sign-up with PayNet and offer this feature which is now available across the… Read More The post GrabPay, the In-App Digital Wallet of … Read more

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Dear Luc: Should we ditch the plastic bank card?

In Dear Luc, we answer the questions the industry’s fintech founders are too afraid to ask, and solve the problems they don’t want their VCs to know about. From regulation readiness to technology teething troubles, our start-up agony uncle, Luc Gueriane, is here to help. Luc has over seven years’ experience working with flagship fintechs like … Read more

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Federal appeal overturns New York block on US Fintech Charter

An appeals court panel has overturned a New York ruling which allowed the state’s financial services regulator to block the ambitious “Fintech Charter”. The OCC says it is reviewing its charter process The Second Circuit Court has ruled the Office of the Comptroller of the Currency (OCC) can grant special purpose bank charters to nondepository … Read more

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