Robinhood’s Crypto Unit Fined $30 Million by Top New York Financial Regulator

The New York State Department of Financial Services has fined online brokerage Robinhood Markets Inc.’s cryptocurrency trading unit $30 million for alleged violations of anti-money laundering regulations. money and cybersecurity, as part of the department’s first crypto enforcement action. Newsletter Sign-Up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news … Read more

Financial Services Compliance Officers Should Go Beyond Regulators to Provide Employee Guidance on Crypto Trading

Digital assets and cryptocurrencies further revealed the diametrically opposed relationship between technological innovation and regulatory rulemaking. As crypto innovation has moved at lightning speed, presenting significant opportunities for growth and wealth creation, rulemaking by regulators for the industry at large and within connection houses, transactions brokerage and specific RIAs evolved at a slower and more … Read more

Impact of the metaverse on financial services

Financial services firms have joined their peers across industries in exploring potential opportunities in the metaverse, though few are yet attempting to do so at scale, per Mckinsey and Company. The report states that the future extent of the metaverse’s impact on the industry depends on the development of the underlying technology, particularly using Web3, … Read more

New York Federal Officials Seek Public Input on Crypto Regulation

NEW YORK—Senior officials from the U.S. Treasury Department, Department of Commerce, and New York State Department of Financial Services have said that when it comes to the digital asset industry, the involvement of the private sector is crucial, not only for its technological advancement, but also to ensure that it is not used for malicious … Read more

Ex-Investment Banker: Blockchain Platforms Will Soon Overtake Traditional Financial Services

“Bitcoin is decentralized. It can solve many market volatility problems. Bitcoin enables corporate treasuries to navigate traditional financial market turbulence in a struggling market,” said Chite Hsu, co-founder and CEO of ALEX, a DeFi platform. “A decentralized foundation ensures holders don’t need to jump through all the fiery hoops associated with traditional … Read more

Crypto Banking And Decentralized Finance – A New Frontier In Financial Services

Crypto Banking And Decentralized Finance – A New Frontier In Financial Services

mobile banking network. getty Cryptocurrencies heralded as the future of finance are finally catching up to the centuries-old idea of ​​making money from money. The global low-yield environment is luring professional and amateur investors to allocate billions of dollars into high-yielding crypto banking products. The emerging digital currency market is creating an alternate universe of … Read more