The European Union (EU) has made a significant leap forward in its ongoing battle against financial crime with the announcement of the enhanced FIU.net system. This platform for financial crime intelligence-sharing has been a critical tool for Financial Intelligence Units (FIUs) across the EU since
In an effort to harmonize traditional banking with the rapidly evolving world of cryptocurrencies, Coinbase, one of the preeminent global cryptocurrency exchanges, has made a significant appeal to US regulators. The core of their request is the establishment of clear regulatory guidelines that
In a year marked by technological advancements and strategic investments, 2024 saw CloudWalk, Inc., the fintech giant behind InfinitePay and JIM.com, achieve tremendous revenue growth and net income. The company's revenue soared to an impressive US$497 million, reflecting a 67% increase from
The growing energy consumption by U.S. data centers has heightened concerns among experts about its impact on overall electricity demand and environmental sustainability. Modern computing activities, particularly driven by AI and cryptocurrency mining, have significantly increased energy use, and
The sector of financial technologies or 'fintech', which more than a decade ago was only an experimental segment of the economy, over the recent years has shown consistently high rates of growth due to the general tendencies of the digitalization of society’s needs. The current market s
The "Financial Infrastructure Transformation Programme" launched by the Central Bank of the United Arab Emirates (CBUAE) nearly two years ago is currently "85 percent" complete, as announced by the authority this week. This multi-faceted plan aims to spearhead the digital
The legal battle between Michael Lewellen, a prominent U.S. blockchain developer, and the U.S. Department of Justice (DOJ) has sparked a significant debate within the cryptocurrency community. Lewellen's lawsuit challenges the Biden administration's broad interpretation of
The U.S. Consumer Financial Protection Bureau (CFPB) is currently embroiled in a lawsuit over its recent decision to impose bank-like regulations on digital wallets and payment platforms. This legal battle has drawn attention from various tech trade groups, sparking a debate about the broader
The alarming rise of credit card defaults among Americans has become a significant financial phenomenon in recent times. According to the Financial Times, citing data analyzed by BankRegData, U.S. credit card defaults have surged to a record $46 billion from January through September 2024, marking
The landscape of financial management for small businesses is undergoing a significant transformation, driven by advancements in financial technology (fintech). Fintech innovations are revolutionizing how small businesses manage their finances, making sophisticated financial tools and resources
