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United States
Fintech / Regtech
US CFPB Proposes Rule to Implement Open Banking
By Editors | 23/10/2023
The CFPB says the proposed rule would allow consumers to “break up” with banks that provide bad service and forbid companies from misusing personal financial data.
Sanctions
China Imposes Exports Controls on Graphite Products
By Editors | 23/10/2023
China dominates global supply chains for graphite, a key material used in electric vehicle batteries.
AML / KYC
FinCEN Issues Alert to Counter Hamas Financing Activities
By Editors | 23/10/2023
The alert contains red flags that FinCEN has identified to help detect, prevent, and report potential suspicious activity related to Hamas’ terrorist financing activity.
AML / KYC
Germany’s BaFin Fines Deutsche Bank for STR Filing Delays
By Editors | 23/10/2023
BaFin said Deutsche Bank submitted suspicious transaction reports to the FIU “with a delay”.
Crypto / Digital Assets
US SEC Drops Lawsuit Against Ripple Executives
By Editors | 22/10/2023
Analysts say the move will ultimately allow the SEC to appeal the court’s earlier decision about XRP not being a security sooner.
Sanctions
US Treasury Announces Easing of Venezuela Sanctions
By Editors | 21/10/2023
A six-month general licence allows the production, sale and export of Venezuela’s oil and gas, without limitations on customers or destinations.
Crypto / Digital Assets
DTCC to Build Infrastructure to Support Adoption of Digital Assets
By Mark Johnston | 20/10/2023
DTCC is acquiring digital asset technology provider Securrency; will offer new blockchain-based products and “unlock the power of institutional DeFi”.
Enforcement
NYAG Sues Crypto Firms Gemini, Genesis, DCG for Fraud
By Manesh Samtani | 20/10/2023
“Gemini hid the risks of investing with Genesis, and Genesis lied to the public about its losses,” said AG Letitia James. The lawsuit says 230,000 investors lost more than $1bn.
AML / KYC
FinCEN to Require FIs to Report Transactions Involving Crypto Mixers
By Editors | 19/10/2023
FIs would have to report information about transactions they know or suspect could involve crypto mixing, whether in the US or in another jurisdiction.
Sanctions
US & Allies Reimpose Iran Sanctions Following UNSCR Expiry
By Manesh Samtani | 19/10/2023
A 2015 UN Security Council resolution targeting Iran’s ballistic missile, nuclear, and drone programmes has expired.
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