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Risk

Binance Faces Probe by U.S. Money-Laundering and Tax Sleuths

May 14 2021

“Binance Holdings Ltd. is under investigation by the Justice Department and Internal Revenue Service, ensnaring the world’s biggest cryptocurrency exchange in U.S. efforts to root out illicit activity that’s thrived in the red-hot but mostly unregulated market. As part of the inquiry, officials who probe money laundering and tax offenses have sought information from individuals […]
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Systems

Brex Partners With TravelBank To Launch Bitcoin And Ether Rewards Program For Businesses

May 13 2021

“Fresh off last month’s massive $425M fundraise at a $7.4 billion valuation, Brex, an all-in-one financial services provider for small and medium-sized businesses, is launching one of the first crypto rewards programs for corporates…Brex’s rewards partner, TravelBank, will power the zero-fee rewards redemption program, allowing users to input the amount of points they want to […]
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Companies

Indian Central Bank Refuses to Block Crypto Transactions

May 7 2021

“The National Payments Corporation of India (NPCI), a central bank-owned retail payments system, has deferred the issue of whether to allow customers to make and receive payments from cryptocurrency trading to commercial banks, according to the Economic Times . Some bankers apparently had asked the agency to block crypto transactions on its network, the paper […]
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Regulation

SEC Chair Suggests Congress Regulate Crypto Exchanges – CoinDesk

May 7 2021

“The $2 trillion cryptocurrency market needs more investor protection in the U.S., including possible regulations for crypto exchanges, Securities and Exchange Commission (SEC) Chairman Gary Gensler said Thursday. In his first public hearing since becoming the head of the federal securities regulator, Gensler said the SEC’s authority is restricted to securities and products or asset […]
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Systems

Ripple CEO Says the U.S. Lacks Regulatory Clarity on Cryptocurrency

May 3 2021

“Ripple CEO Brad Garlinghouse said the lack of clarity in U.S. regulation of cryptocurrencies is “frustrating.” Known for the cryptocurrency XRP , the fintech company has been caught in a high-stakes legal tussle with the U.S. Securities and Exchange Commission since last year.   In December, the SEC filed charges against the firm, Garlinghouse and […]
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Systems

SoFi CEO Dives Deeper Into Crypto With Bitcoin, Ethereum Rewards

April 30 2021

“Social Finance Inc. is edging deeper into cryptocurrencies, allowing its customers to redeem rewards earned through the company’s app for Bitcoin or Ethereum. Starting Thursday, clients can apply their 2% cash-back rewards on the SoFi credit card toward the two cryptocurrencies, Chief Executive Officer Anthony Noto said in a phone interview. The crypto program is […]
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Domains

After Dropping Out of College in Nigeria, These Tech Entrepreneurs Have Now Been Snapped up by the Influential Y Combinator

April 30 2021

“The co-founder and chief executive of Nigerian fintech Flux says dropping out of college helped to pave the way for the launch of a new crypto payments company, one that has since been backed by renowned start-up accelerator Y-Combinator…Flux is a cryptocurrency remittance app. It lets users convert sovereign currencies into crypto and then send […]

On The Wires

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Deals

Nuvei to Acquire Simplex, a Payment Solution Provider to the Cryptocurrency Industry

May 10 2021

“Nuvei Corporation (“Nuvei” or the “Company”) (TSX: NVEI and NVEI.U), the global payment technology partner of thriving brands, today announced it has entered into a definitive agreement to acquire SimplexCC Ltd. (“Simplex”), a fintech startup providing the fiat infrastructure to the cryptocurrency industry, for approximately $250 million to be paid in cash. The transaction is […]