The former head of the U.S.’ sanctions authority has said INSTEX, the payment instrument set up in Europe to enable trade with Iran, is unlikely to ever see success regardless of whether it enables...
U.S. payment providers in the betting market say they are working on a compliance model that can be deployed as soon as a state regulator gives the green light to sports betting, essentially...
The UN is working towards issuing further guidance on its sanctions operations to help firms navigate the increasingly complex array of requirements, amid rising concerns the current regime is...
On June 10, 2019, a group of senators — Tom Cotton (R-Arkansas), Mark R. Warner (D-Virginia), Doug Jones (D-Alabama), and Mike Rounds (R-South Dakota) — introduced a draft bill, the Improving...
On June 7, 2019, the Conference of State Bank Supervisors (CSBS) published the first paper in a series on re-engineering the non-bank supervision industry, which provides an overview of non-bank...
Europe’s financial sector is aiming high for greater alignment between US and EU regulatory regimes in the sector, but experts warn that ongoing divergence in attitudes toward data protection could...
Payment providers in the United States have “tremendous confidence” that facilitating transactions linked to sports betting and online gambling will not be deemed a violation of the Wire Act,...
New York’s financial regulator will get its day in court against the Office of the Comptroller of the Currency (OCC) over the federal authority’s plans to introduce a bank charter for fintechs,...
On April 30, 2019, the Office of the Comptroller of the Currency (OCC) launched a consultation on its Innovation Pilot Program. The program is intended to be voluntary and designed to provide...
A consortium of leading e-commerce and payments companies has backed a push to harmonize money transmitter laws across the United States, but argues that direct congressional involvement is needed...
On April 10, 2019, the Department of Justice published a white paper titled “Promoting Public Safety, Privacy, and the Rule of Law Around the World: The Purpose and Impact of the CLOUD Act”. The...
The Consumer Financial Protection Bureau (CFPB), which was created by the U.S. Congress in response to the financial crisis in 2008, is among the federal government’s most controversial agencies,...
A bill designed to help break the impasse that has long kept legal cannabis businesses in the U.S. from accessing banking services has passed a key step toward approval by the House of...
The U.S. Treasury has taken action against a bevy of individuals and financial institutions accused of facilitating sanctions evasion on behalf of Iranian entities, moving more than a billion...
Experts have suggested that the fractured approach to sports betting in the United States, engendered in part by the recent upheaval over the Wire Act, could end up driving a more innovative and...
U.S. lawmakers continued calls for tighter anti-money laundering (AML) and counter-terrorist financing (CTF) oversight last week, with the House of Representatives passing a resolution to close...

Pages