Abra, CEO Barhydt settle with 25 US states over licensing violations
[Jun 26 3:45 PM] Other states can join in the settlement, which will see up to $82.1 million returned to customers.
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House Financial Services Committee Advances Clarity for Payment Stablecoins Act
[Aug 9, 2023 5:30 AM] On July 27, 2023, The U.S. House Financial Services Committee advanced a stablecoin-focused bill for the first time. The Clarity for Payment Stablecoins Act of 2023 would establish a federal regulatory framework for stablecoins with the U.S…
Report: Paypal Puts Stablecoin Plans on Hold as US Regulators Crack Down on Crypto Industry
[Feb 11, 2023 1:30 PM] During the first week of 2023, payment service giant Paypal said it was exploring the launch of a stablecoin. At the time, an executive at Paypal stated that if the company moved forward, it would work closely with financial regulators. However, on…
Report: Elon Musk’s Payments Vision for Twitter Takes Shape, Small Team Tasked to Build Infrastructure
[Jan 30, 2023 3:30 PM] Seven months ago, current Twitter owner Elon Musk said, prior to acquiring the social media giant, he would integrate cryptocurrency payments. According to sources, a team is working on the infrastructure for a payment platform, and Twitter is…
Nexo Agrees to Pay $45 Million to SEC and State Regulators for Unregistered Offering of Earn Interest Product
[Jan 19, 2023 11:30 PM] The cryptocurrency lender, Nexo, has agreed to pay $45 million to the U.S. Securities and Exchange Commission (SEC) and several state regulators after charges were levied against the firm for failing to register the company’s Earn Interest…