Broadridge Financial Solutions and cryptocurrency exchange Crypto.com have begun a collaboration via the integration of Broadridge’s NYFIX order routing network with the Crypto.com infrastructure, underscoring the reach of the NYFIX network beyond traditional asset classes, officials say. Based in Singapore, Crypto.com also offers a variety of financial services such as an app, exchange, and noncustodial… Read More >>
Coinbase Adds Stock & ETF Trading via Yahoo Finance
Cryptocurrency exchange Coinbase has added the ability for users to trade stocks and exchange-traded funds (ETFs) through a deal with financial news and data provider Yahoo Finance, consolidating stock and crypto trading on a single platform, officials say. Officials describe the move as a milestone in the convergence of digital assets and traditional markets. Coinbase… Read More >>
Can A.I. Help or Hurt KYC & AML Efforts?
While financial institutions are in the early throes of utilizing artificial intelligence (A.I.) to strengthen know-your-customer (KYC) and anti-money laundering (AML) processes, cybercriminals are rapidly advancing their tactics to bypass these meticulous measures. One troubling development for compliance teams is the recent emergence of a new A.I.-powered deepfake tool, ProKYC, which hackers are weaponizing to… Read More >>
SEC & CFTC Prioritize Crypto Regs Creation
The Securities and Exchange Commission and the Commodity Futures Trading Commission (CFTC) are following up on their recent announcements to move quickly on cryptocurrency regulation just as industry providers are getting on the crypto train. The SEC is offering more details about the mission of its special Crypto Task Force and the CFTC will be… Read More >>
Coinbase Europe Fined $3.6M by Dutch Central Bank
It’s been a tough year for Coinbase and we haven’t even reached Valentine’s Day yet. If you’re so inclined, you can trace the troubles of the present-day cryptography movement back to Japan in 2010 and the rise of Mount Gox, the original bitcoin power. It was a quick rise and a fast fall: by 2014,… Read More >>
Crypto’s Pitfalls Are the Focus of a New Guide
Say this for the computer kids who bought into the Great Crypto Scam: They (and others who dream of easy riches) are determined to tie themselves to the blockchain, no matter what. Even the recent $300 billion drop in value across the crypto economy (as calculated by the New York Times) hasn’t dissuaded them. The… Read More >>
Should the SEC Become a Crypto Cop?
The Securities and Exchange Commission (SEC) may be taking on more oversight of the cryptocurrency trading world as there are many troubling regulatory gaps, says SEC Chair Gary Gensler in testimony May 26 before the subcommittee on financial services and general government, which is part of the U.S. House Appropriations Committee. In testimony that covered… Read More >>
Wipro Buys Capco for $1.45 Billion
Acquisition Expected to Close by June 30 The London-based Capco, a financial services and technology consultancy, will become part of Wipro Ltd., the Bangalore-based global IT and services provider as a result of a $1.45 billion acquisition. The agreement will enable Wipro to offer “digital, consulting and technology services to financial institutions in the Americas,… Read More >>
NYSDFS Contestants to Explore Regs for Crypto Firms
It’s not the Super Bowl. But Techsprint — the contest the New York State Department of Financial Services (NYSDFS) is holding for registered crypto-currency companies — may become just as important for financial regulators. It’s meant to keep tabs on those virtual currency companies that have registered with the NYSDFS. It’s also meant to formalize… Read More >>
Biden Team Nominates Gensler to Be SEC Chairman
Gary Gensler, the former chairman of the CFTC, has been nominated to be the next chairman of the SEC by the incoming administration of President-elect Joe Biden. Gensler served as CFTC chairman from May 26, 2009, to January 3, 2014, and oversaw an overhaul and expansion of the regulator’s control over derivatives trading, especially swaps…. Read More >>
