“We are consciously inviting a downfall”: practitioners warn crypto is outpacing regulators, as BoE calls for expanded framework

The Bank of England has called for an expansion of its regulatory framework to “mitigate certain risks” from cryptoassets and decentralised finance.

29 March 2022

RCB exits banking following Russian invasion

Cyprus-based RCB, until recently part-owned by Russia’s VTB, is planning to wind down its operations, the first European bank with Russian links to make the voluntary move since Russia’s invasion of Ukraine.

24 March 2022

A sit-down with Rostin Behnam

Recently confirmed after a year as acting chair of the Commodity Futures Trading Commission, Rostin Behnam spoke to the Institute of International Bankers’ annual summit about crypto, climate, diversity, and the challenges of running a commission with only two commissioners.

24 March 2022

“A good start”: SEC releases long-awaited climate risk disclosure proposals

The US securities regulator has issued its long anticipated proposals for mandatory climate risk disclosures – including requirements related to scope 3 emissions, scenario analysis, and transition plans.

23 March 2022

Regulators must address gamification and social media, IOSCO says

The global securities regulators’ association has called for an expanded regulators’ “toolkit” for dealing with emerging issues including gamification, which it says an “overwhelming majority” of its members are struggling to deal with.

23 March 2022

Fintechs should invite the regulators in

Tony Brown, head of compliance and money laundering reporting officer of IFX Payments, argues that regulatory staff need to be upskilled to make regulation work for the fintech industry.

23 March 2022

EU lawmakers adopt fresh MiCA draft and reject proof-of-work ban

The European Parliament has voted to advance a cryptocurrency bill without a clause that would have banned proof-of-work mechanisms, and called for digital assets to be dealt with in the EU’s sustainable taxonomy.

21 March 2022

Two Gulf regulators licence Binance

Cayman Islands crypto exchange Binance has obtained crypto-asset licences from Dubai’s newly-established crypto regulator and the Central Bank of Bahrain.

21 March 2022

“White noise and no real substance”: ECB’s Elderson criticises banks’ climate-risk disclosures

Frank Elderson, vice-chair of the ECB supervisory board, has criticised banks for “issuing a great volume of information” around green topics to compensate for the “poor quality” of their climate-related and environmental disclosures.

17 March 2022

English Court of Appeal extends Quincecare duty

British banks have a duty to protect their customers from making payments to fraudsters, the English appeals court has ruled, overturning a landmark ruling from last year.

17 March 2022

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