Regulatory Developments

Does regulators’ favourite climate risk metric measure up?

FSB and Basel Committee back climate VAR, but practitioners will take some convincing

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Litigation threats seen delaying SEC climate disclosure rules

Efforts to demonstrate materiality of exposures to investment decision-making is taking longer than expected, say lawyers

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ESMA announces upcoming publication aimed at CSDs

ESMA announces upcoming publication aimed at CSDs Wednesday 01 December 2021 11:04 The European Securities and Markets Authority (ESMA), the EU’s Securities Markets Regulator, today announces that it will start publishing information on trading venues with the highest turnover for bonds. This information is needed by CSDs in order to apply cash penalties under the … Read more

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OCC nominee faces challenging Senate hearing

Saule Omarova, President Joe Biden’s nominee to lead the Office of the Comptroller of the Currency, faced a challenging hearing before the Senate Committee on Banking, Housing, and Urban Affairs. Community banks’ opposition to her nomination took center stage during Omarova’s testimony and questions, according to the Independent Community Bankers of America (ICBA). Its joint … Read more

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FTC makes five new appointments

The Federal Trade Commission made five new appointments to agency leadership positions in its Office of Policy Planning. These additions will work with the agency’s chief technology officer and technologists as part of an informal AI strategy group and in partnership with policy experts to provide insight and advice on emergency technology issues. For more … Read more

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Cybersecurity, Data and AML/Sanctions

The US crackdown on Chinese economic espionage is a mess. We have the data to show it.

A visiting researcher at UCLA accused of hiding his connection to China’s People’s Liberation Army. A hacker indicted for breaking into video game company servers in his spare time. A Harvard professor accused of lying to investigators about funding from China. And a man sentenced for organizing a turtle-smuggling ring between New York and Hong … Read more

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Russian Gets Jail Term for Hosting Cybercriminals

A Russian man, Aleksandr Grichishkin, has been sentenced for giving shelter to cybercriminals for years, the Department of Justice announced Wednesday (Dec. 1). He reportedly provided “bulletproof hosting” services for cybercriminals to send out malware and target financial institutions around the U.S., and has been sentenced to 60 months in prison. Grichishkin was reportedly a … Read more

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CyCognito Closes $100M Series C to Advance Attack Surface Protection

Attack surface management (ASM) startup CyCognito raised $100 million in a Series C funding round led by The Westly Group, according to a press release on Wednesday (Dec. 1). New investors Thomvest Ventures and The Heritage Group also participated in the funding round, along with existing backers Accel, Lightspeed Venture Partners, Sorenson Ventures and UpWest. … Read more

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Egypt legaltech startup Hekouky secures pre-seed investment

Hekouky, a Cairo-based legaltech startup has raised an undisclosed pre-seed funding amount from Nama Ventures a MENA-focussed pre-seed fund. This Egypt startup incorporates companies and registers trademarks for top entrepreneurs and business owners. Hekouky works to solve the complex, costly and time-consuming headache of getting legal transactions sorted for business people through its one-stop-shop simplified … Read more

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MI6 needs tech sector’s help to win AI race with China and Russia – spy chief

New boss Richard Moore to say adversaries are ‘pouring money’ into technology and the agency needs outside funding to keep up MI6 will have to become “more open to stay secret” and work with tech companies to counter threats posed by China and Russia who seek to gain advantage by mastering artificial intelligence and other … Read more

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Crypto/Blockchain

Bitcoin Daily: Goldman Sachs Eyes Using Bitcoin as Collateral for Institution Cash Loans; MercadoBitcoin.com Holding Company Snags $50M in Series B Funding

Goldman Sachs is currently undergoing an education on how to use bitcoin as collateral for cash loans, according to a Thursday (Dec. 2) report from Coindesk. Goldman doesn’t plan to touch crypto spot markets; instead, the bank, and others like it, plan … Read more

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5 year study looks at if token rewards can improve HIV patient outcomes in Africa

A groundbreaking five-year study into whether crypto token incentives can improve health outcomes for patients with HIV/AIDS will be launched in Kenya by the end of the year. On Nov 1, the blockchain-powered healthcare ecosystem Immunify.Life and the Masinde Muliro University of Science and Technology (MMUST) announced they had secured the approval needed from an … Read more

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Meta Relaxes Facebook’s Cryptocurrency Ad Policy — Says Crypto Continues to ‘Mature and Stabilize’

Meta, formerly Facebook, has relaxed its policy for cryptocurrency advertisements, making it easier for companies to run crypto ads on its platform. “We’re doing this because the cryptocurrency landscape has continued to mature and stabilize in recent years and has seen more government regulations that are setting clearer rules for their industry,” the company explained. … Read more

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With $30B Staked, Coinbase Cloud Aspires to Be Blockchain’s AWS

Coinbase has had some grandiose things to say about its Coinbase Cloud division in the past year. Expect that to increase now that the turnkey infrastructure’s clients have more than $30 billion staked on the 60,000 hosted nodes it manages for more … Read more

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DeFi disasters: $31M drained from MonoX and BadgerDAO losses top $120M

More than $150 million has been lost this week in separate security breaches at DeFi projects MonoX and BadgerDAO. Multi-chain decentralized exchange (DEX) MonoX (MONO) suffered a cyber attack on Nov. 30 leading to about $31 million in losses. BadgerDAO (BADGER) suffered a front-end attack that was discovered on Dec. 2 with estimates of Badger’s … Read more

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Banking, Finance and Investment

Payments Provider PPS Launches Google Pay in the UK

European digital banking and payments provider PPS has debuted Google Pay functionality in the U.K. through challenger bank customer Monese, according to a press release. The rollout signifies growth for the mobile wallet market, the release stated. PPS now delivers Google Pay, Apple Pay and Samsung Pay in the U.K., France, Spain, Italy, Sweden, Finland, … Read more

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Uncertainty Surrounds PBOC Targeting of Alipay, WeChat Business Use of Personal Codes

In China, what seems to be a crackdown on Big Tech — on the payments giants in particular — continues. Or maybe not, depending on where you look. And thus, some confusion reigns, at least for now. To that end, as reported by Crowdfundinsider.com, the People’s Bank of China (PBOC) has banned the WeChat and … Read more

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Bridging the gap between banking and digital accessibility

By 2024, it is estimated that over 3.6 billion people will use online and mobile banking. The banking industry should be a leader in digital accessibility The pandemic has sped up today’s digital landscape as more people complete everyday tasks online. For that reason, companies must understand the importance of digital accessibility. A lack of website accessibility … Read more

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EMEA Daily: UK Investing App Freetrade Surpasses Funding Goal by 800%, Sweden Calls on EU to Pull The Plug On Bitcoin Mining

In today’s top Europe, Middle East and Africa news, UK investing app Freetrade surpasses funding goal by 800%; Sweden calls on Europe to pull the plug on bitcoin mining. Plus, Kenyan FinTech Asilimia closes $2M pre-seed funding, Pan-African firm M-KOPA’s pay-as-you-go model, and UK lawmaker calls for urgent BNPL regulation. UK Investing App Freetrade Surpasses … Read more

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Celsius expands funding round to $750M, tips $7B to $10B valuation in 2022

Celsius CEO Alex Mashinsky said that the oversubscribed $750 million funding round was a “very good indication” of the strength of the company’s lending and yielding brand. Crypto lending firm Celsius Network has expanded its $400 million Series B round from October to $750 million as a result of oversubscription in the firm’s capital raise. … Read more

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