Latin America and the Caribbean (LAC) are at the forefront of digital money adoption, offering valuable lessons for the rest of the world. While El Salvador has made headlines by granting legal tender status to Bitcoin, other LAC countries have made significant strides in the introduction of central bank digital currencies (CBDCs) to either enhance financial inclusion and payment systems’ resilience or lower cross-border remittances’ costs, as our recent research shows. [Read more]
News
Damian Williams, the United States Attorney for the Southern District of New York, announced today that ABRAHAM ADENIYI was sentenced today by U.S. District Judge Edgardo Ramos to three years in prison for operating a money laundering scheme that laundered nearly $8 million of wire fraud proceeds. ADENIYI previously pled guilty to conspiracy to commit money laundering. [Read more]
Regulators lack an ongoing coordination mechanism for addressing crypto blockchain risks in a timely manner, the report says. [Read more]
Report Ocean has recently published a comprehensive study on the United States Fintech Market, covering the prediction period of 2023-2031. Throughout the years, this report has diligently examined the industry, taking into account various factors such as macroeconomic parameters, consumer buying patterns, microeconomic parameters, GDP growth rate, inflation rate, and market demand-supply scenarios. [Read more]
In a recent roundtable, hosted by anchor Rob Nelson, the discussion took a serious turn towards the current and future state of cryptocurrency regulation and blockchain in the United States. The esteemed panel, featuring Alex Gordon Brander, co-founder of CODEX, grappled with this pivotal issue, considering its effects on technological advancement and the global competitive landscape. [Read more]
The fintech industry is growing rapidly, and it is expected to continue to grow in the years to come. In 2024, the global fintech market is projected to reach $324 billion. This growth is being driven by a number of factors, including the increasing adoption of digital payments, the rise of mobile banking, and the growing demand for financial services by underserved populations. [Read more]
Anti-money laundering (AML) laws are intimately connected with the law enforcement agencies of the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC), along with the Financial Crimes Enforcement Network, the Financial Intelligence Unit, and the Financial Action Task Force. OFAC is in charge of enforcing American economic sanctions with businesses or individuals involved with a foreign bank or financial institution. [Read more]
LEGAL firms have been issued today (Thursday) with the latest guidance and steps to take to combat the evolving cybersecurity threats the sector faces. [Read more]
For years, US financial regulators couldn’t agree on what to do about cryptocurrency. They wanted to do something, but couldn’t agree on what crypto was – a security, like a stock or bond, or a commodity, like a raw material or agricultural product, or neither? – and which agency would have jurisdiction. [Read more]
Unbanked, a crypto fintech firm specializing in crypto custody and payments services, has decided to close its operations, citing a harsh regulatory environment for cryptocurrencies in the United States. [Read more]