The California Department of Financial Protection and Innovation (DFPI) has released proposed regulations implementing the Digital Financial Assets Law (DFAL), creating a formal licensing regime for businesses engaging in a...more
4/23/2025
/ Comment Period ,
Cryptocurrency ,
Department of Financial Protection and Innovation (DFPI) ,
Digital Assets ,
FinTech ,
Licensing Rules ,
Money Transmission Act ,
NMLS ,
Proposed Rules ,
Public Comment ,
Regulatory Requirements
On March 21, 2025, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) officially lifted sanctions on Tornado Cash, the decentralized cryptocurrency mixer it had blacklisted in August 2022....more
4/9/2025
/ Appeals ,
Biden Administration ,
Blacklist ,
Blockchain ,
Cryptocurrency ,
Delisting ,
Digital Assets ,
Economic Sanctions ,
Enforcement Actions ,
FinTech ,
Hackers ,
Judicial Review ,
Money Laundering ,
North Korea ,
Office of Foreign Assets Control (OFAC) ,
Smart Contracts ,
Trump Administration
For years, UK-based consumer finance and payments firms have viewed the U.S. regulatory landscape as complex, fragmented, and challenging when it comes to expansion. But 2025 may prove to be a turning point....more
President Trump issued an executive order last week targeting government regulation of the digital asset industry to support the "responsible growth and use of digital assets." On the campaign trail, Trump promised to make...more
As political tides shift, so too does the regulatory outlook for consumer financial services. Among the key documents that could shape the direction of U.S. financial regulation is a January 2021 report by the CFPB Taskforce...more
The Consumer Financial Protection Bureau (CFPB) has proposed an interpretive rule aimed at addressing what it views as ambiguities in the application of the Electronic Fund Transfer Act (EFTA) and its implementing Regulation...more
1/23/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Digital Assets ,
Digital Platforms ,
EFTA ,
Financial Services Industry ,
FinTech ,
Online Gaming ,
Online Marketplace ,
Payment Systems ,
Proposed Rules ,
Regulation E
The Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) to gather insights on how companies offering financial products and services collect, use, and monetize consumer payment and personal...more
1/17/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Consumer Privacy Rights ,
Data Collection ,
Data Privacy ,
Data Protection ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Monetization ,
Privacy Laws ,
Request For Information ,
Technology Sector
On July 25, 2024, the federal banking agencies issued a joint statement flagging potential risks in bank-fintech arrangements, along with a request for public information (RFI) on the benefits, risks, and risk management...more
7/31/2024
/ Banking Sector ,
Comment Period ,
Compliance ,
Federal Bank Regulatory Agencies ,
Financial Institutions ,
FinTech ,
Joint Statements ,
Public Comment ,
Request For Information ,
Risk Assessment ,
Risk Management
One of the biggest challenges for fintechs is ensuring that their services comply with federal and state money transmission laws. For example, a fintech operating as a payment facilitator faces significant money transmission...more
The FDIC has issued cease and desist letters (C&Ds) to five companies and their officers, directors, and employees for making crypto-related false or misleading representations about deposit insurance and to take immediate...more