Markets
Justice Department Files Action Against Dave Inc. For Misleading Consumers
The Justice Department and the Federal Trade Commission (FTC) have filed a lawsuit against Dave Inc. and its Co-Founder, Leader, and Chairman, Jason Wilk. The lawsuit claims that Dave and Wilk have broken laws by misleading consumers and charging hidden...
MoonPay Receives A Crypto License In The Netherlands
A major crypto payments company MoonPay recently received regulatory approval to operate as a licensed cryptocurrency business in the Netherlands under the MiCA regulatory framework. The firm’s license was issued by the Dutch Authority for the Financial Markets yesterday, December...
Solana Co-Founder Accused of Profiting from Ex-Wife’s SOL
One of Solana’s co-founders, Stephen Akridge, who is also a former principal engineer at Solana Labs, is currently facing a lawsuit filed by his ex-wife, Elisa Rossi. Rossi filed a lawsuit in San Francisco’s Superior Court, claiming that Akridge secretly...
Court Orders That British Colombia Scammer Must Surrender Pension To Repay Victims
The British Colombia Supreme Court recently announced that Earle Douglass Pasquill, a man who carried out one of the largest investment frauds in the region, has failed to comply with the court’s past order. The order revolved around remittances on...
CySEC Provides New Guidance For Crypto Asset Service Providers Under MiCA
The Cyprus Securities and Exchange Commission (CySEC) recently issued updated guidance for Crypto-Asset Service Providers (CASPs). The new set of rules outlines the obligations that concern the crypto industry under the transitional provisions of the MiCA regulations. According to the...
The US Tax Agency Finalizes Crypto Reporting Rules Deciding To Tax DeFi
The US tax agency, the Internal Revenue Service (IRS) recently finalized a new set of regulations that now require brokers to report digital asset transactions after decentralized finance (DeFi) platforms got integrated into the existing tax framework. The rules are...
Montenegro Approves Do Kwon’s Extradition To The US
It has been around 18 months since Do Kwon, the co-founder and former CEO of Singapore-based Tarraform Labs, was arrested in Montenegro after being caught trying to leave the country with a fake passport. Now, the Montenegro Minister of Justice,...
Mastercard Agrees To Acquire Global Threat Intelligence Firm Recorded Future
Payments giant Mastercard recently agreed to acquire Recorded Future, a global threat intelligence company owned by Insight Partners. The acquisition will cost the payments firm $2.65 billion. From Mastercard’s point of view, the acquisition is a great move as it...
Polish Fintech XTB Receives Indonesian and UAE Approval To Conduct Operations
XTB, a fintech firm headquartered in Poland, recently received two new regulatory approvals to conduct operations — one in Indonesia, and another in the United Arab Emirates (UAE). As a result, the company gets to continue with the expansion of...
Deutsche Bank In Trouble: SEC Fines The Bank $4m For Delayed Filing Of Suspicious Activity Report
Deutsche Bank’s subsidiary, Deutsche Bank Securities Inc., recently agreed to pay a $4 million civil penalty following the US Securities And Exchange Commission’s (SEC) charges for not filing the Suspicious Activity Reports (SARs) within a period of time designated by...
Jefferies LLC Agrees To Pay A Quarter-Million Settlement With The FINRA
Jefferies LLC, one of Wall Street’s heavyweights, recently settled with the Financial Industry Regulatory Authority (FINRA) and several exchanges over the allegations regarding the company’s failure to meet regulatory requirements between January 2018 and September 2022. The settlement has obligated...
Davivienda Explores Acquisition of Scotiabank’s Colombian and Central American Assets
Banco Davivienda, a prominent Colombian financial institution under Grupo Bolívar, is reportedly negotiating the acquisition of Scotiabank's operations in Colombia and Central America. This potential transaction aligns with Scotiabank's strategic shift towards focusing on developed markets, as outlined by President...
China Mobilizes Banking Sector to Revitalize Property Market
In response to a prolonged downturn in the real estate sector, Chinese authorities are enlisting the support of banks to inject liquidity into stalled housing projects and reduce mortgage rates, aiming to restore stability and confidence in the property market....
Turkey Unveils $14 Billion Development Initiative for Southeastern Region
Turkey has announced an ambitious $14 billion development initiative to uplift its predominantly Kurdish southeastern region, a historically underdeveloped area that has endured decades of conflict and economic disparity. The plan, which spans multiple sectors, seeks to close the economic...
Global Edible Oil Prices Surge Amid Supply Constraints and Policy Shifts
The global edible oil market is experiencing a notable upswing in prices, driven by tightening supplies and policy changes in key producing countries. This trend has significant implications for import-dependent nations like Pakistan, where consumers are beginning to feel the...
