United States

Crypto / Digital Assets

NYAG Fines Crypto Wallet Provider for Misleading Investors

By Editors | 21/05/2023

Coin Cafe had advertised free wallet storage for Bitcoin, but then routinely charged and increased its fees “without properly informing investors”.

Sanctions

Price Cap Policy for Russian Oil is Working: US Treasury Report

By Editors | 20/05/2023

Oil revenues now account for 23 percent of the total Russian budget, compared to 30-35 percent before the war in Ukraine.

Crypto / Digital Assets

US DOJ Charges Another for Role in ‘CoinDeal’ Fraud

By Mark Johnston | 20/05/2023

Bryan Lee allegedly conspired with others to defraud investors in companies that claimed to be developing metaverse-related technologies.

Fintech / Regtech

34 FIs Have Joined Swift Service for Addressing Settlement Fails

By Editors | 19/05/2023

The service leverages the UTI to link all Swift messages related to the same securities settlement flow in a transaction chain.

Enforcement

UK Lawmaker Alleges State Cover-up in LIBOR Rigging Scandal

By Mark Johnston | 19/05/2023

Member of Parliament David Davis calls for investigation into perjury and false convictions in LIBOR rigging case.

Crypto / Digital Assets

NY Fed, MAS Publish Results from Cross-Border Payments Study

By Editors | 19/05/2023

Each simulated payment scenario achieved end-to-end settlement in under thirty seconds on average using wholesale CBDCs.

Enforcement

Deutsche Bank to Settle Jeffrey Epstein Lawsuit for $75m

By Editors | 19/05/2023

The lawsuit brought by an unnamed woman in November claimed Deutsche Bank missed red flags in Epstein’s accounts and chose profit over following the law.

Enforcement

Wells Fargo Agrees to Pay $1bn to Settle Class Action

By Editors | 18/05/2023

Shareholders accused Wells Fargo of overstating how well it was complying with 2018 consent orders from financial regulators.

Capital / Liquidity

US Banks Rethink Social Media Strategy Following Recent Collapses

By Mark Johnston | 18/05/2023

US banks are working on updating their emergency response and risk capabilities, along with business continuity plans, to tackle the social media threat.