SEC Chair Gensler Discusses How Securities Laws Apply to Crypto Tokens — Won’t Say if Ethereum Is a Security

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has explained how securities laws apply to cryptocurrency tokens as he outlined the commission’s priorities in regulating the crypto space. “Our role at the SEC is to ensure that the public still gets basic protection,” he stressed. SEC Chair Gary Gensler on Cryptocurrency … Read more

DeFi Loan Marketplace Goldfinch Nets $25M for Its Credit Protocol

Decentralized credit protocol Goldfinch has raised $25 million in a Series A extension round led by Andreessen Horowitz, per a Thursday (Jan. 6) report from CoinDesk. Goldfinch is an open market for loans without collateral, making use of a loan underwriting process and extending credit lines to lending businesses. Those businesses can then draw stablecoins … Read more

The Five Things That Will Determine The Success – or Failure – of China’s Digital Yuan Wallet

China today (Jan. 4) released its digital yuan wallet on Apple’s App Store and on Google Android app stores in the country. The e-CNY app is currently a pilot version available to customers of financial institutions supporting the project, including most major banks. However, the public release of the digital wallet is another clear sign … Read more

Rev Debuts Its App-Based X World Wallet With Loyalty, Travel Perks

Payment products innovations company Rêv has debuted its X World Wallet, an app-based multi-currency debit account, nationwide in the United States, according to a Tuesday (Jan. 4) press release. X World Wallet comes with a loyalty program, a travel bookings portal and discounts, along with an integrated global sustainability initiative. The wallet can be loaded … Read more

The carrot and the stick: How regulators are driving a data quality revolution

In a global landscape characterised by regulatory complexity and scrutiny, regulators are ‘cracking down’: tolerance for poor quality data and reporting errors is fast declining, and the time for turning a blind eye is over. Regulators can help financial institutions by proving the benefits of high data quality However, this increased regulatory focus has not … Read more

Fed: Pandemic Caused In-Person Card Payments to Drop by $11.7B in 2020

In a report released Wednesday (Dec. 22), the Federal Reserve said that payment behavior saw a massive, pandemic-driven shift in 2020. As in-person commerce dwindled, in-person card payments also fell. As a result, there were around 11.7 billion fewer payments made, which is the first one-year decline of in-person payments in the Fed’s data. However, … Read more