SEC Proposes Crypto Offering Exemptions and Conditional Safe Harbor
The SEC’s proposed Regulation Crypto Assets would add two offering exemptions, disclosure duties and a conditional safe harbor for certain crypto transactions.
Category: Regulation & Compliance
Fed Restricts SouthPoint Bancshares Dividends and Debt Under New Capital Agreement
A Federal Reserve agreement requires SouthPoint Bancshares to strengthen capital planning, support its bank and obtain approval before dividends or new debt.
CFTC Uses Emergency Power to Keep Kalshi Operating During New York Fight
The CFTC ordered Kalshi to keep operating after New York sought to stop its event-contract business, escalating a federal-state fight over prediction markets.
Draft FDIC Plan Would Certify Bank Fintech Vendors Without Replacing Oversight
A draft framework would create reusable certification for bank technology providers, but it leaves banks responsible for customer protection, integration and ongoing oversight.
India Gives Government More Control Over UPI Fee Protections
Parliament has shifted India’s statutory no-charge rule for digital payments to a government-notification model, leaving the future treatment of UPI merchant fees unresolved.
The Payment Pattern Regulators Are Targeting Looks Familiar at Fortris
Regulators and gambling groups are following deposits through PSPs, brands and accounts. Fortris markets the same control points in crypto.
Bilt Says Reporting Error Sent Collection Notices to 1,850 Cardholders
Bilt attributed mistaken collection notices sent to about 1,850 cardholders to a third-party reporting error affecting an old beta card program.
Fed Bars Two Former Bank Employees Over Customer Fund Theft
The Federal Reserve barred two former bank employees after consent orders described unauthorized withdrawals from elderly customers and theft from bank cash.
New York Sues Kalshi Over Alleged Illegal Gambling Operation
New York alleges Kalshi operated an unlicensed gambling platform, accepted wagers from 18-to-20-year-olds and lacked state-mandated safeguards.
Apple Sued Over Fake Sparrow Wallet App and $1.8M Loss Claim
Three users allege Apple’s App Store distributed a fake Sparrow Wallet app that led to more than $1.8 million in bitcoin losses.
CFTC Fines UBS $8 Million Over AML Monitoring Failures
The CFTC fined UBS Financial Services $8 million after finding that foreign-currency wires were omitted from or inadequately covered by AML monitoring.
OCC Denies Wise Trust Bank Charter Over AML and Governance Gaps
The OCC rejected Wise’s proposed U.S. trust bank, citing unresolved AML weaknesses, insufficient management expertise and significant compliance concerns.