Financial influences may be at risk of violating regulatory rules. The U.S. SEC asks several influencers to submit data and documents related to specific crypto projects they have promoted. For several years, crypto influencers have been a thorn in the side of regulators, often promoting risky and unverified crypto projects. To provide more investor protection here, the SEC has recently taken more decisive action against such promotion.
The Malaysian government has established a National Scam Response Center (NSRC) to improve inter-agency coordination and enable rapid response to online financial fraud. The command centre is a joint effort between the National Anti-Financial Crime Center (NFCC), Polis Diraja Malaysia (PDRM), Bank Negara Malaysia (BNM), the Malaysian Communications and Multimedia Commission (MCMC), and financial institutions and the telecommunications industry.
"BaFin would like to clarify that the U.K. Financial Conduct Authority is not targeting consumers in Germany." The German Federal Financial Supervisory Authority (BaFin) has warned that retail investors are being contacted by people claiming to work for the U.K. Financial Conduct Authority (FCA).
German regulator BaFin is parting ways with its executive director Beatrice Freiwald after a months-long legal dispute. The supervisor is leaving "by virtue of a decision by the German government as a member of Bafin's board of directors," the authority announced on Tuesday evening.
Berlin-based corporate credit card FinTech Moss secured a BaFin license. The corporate credit card company received €75 million in financing at the beginning of the year. Moss CEO Ante Spittler confirmed that the company had obtained an e-money license in June 2022.
Berlin-based Fintech Vivid has received permission to provide investment advice through its Dutch subsidiary. Neobank aims to offer a "super app" for all financial services. The neobank has received an investment license from the Dutch Financial Markets Authority (AFM).
Indian Buy-now-pay-later card startup Uni (website) plans to temporarily suspend its card services in the South Asian market due to the local central bank's digital lending guidelines. The fintech, which is backed by General Catalyst, Elevation Capital, and Lightspeed Venture Partners, confirmed that the cards will be inactive until further notice.
Chinese regulators have once again targeted Alibaba Group Holding, a major shareholder in Ant Group, after several fines were already imposed on the Internet group. The powerful Alibaba Group Holding Ltd and Jack Ma's financial technology giant Ant Group have been under scrutiny from Chinese authorities for years. Ant told regulators of Ma’s intention to cede control.
According to media reports, the Central Bank of Kenya (CBK) has ordered lenders and microfinance institutions to stop doing business with fintech companies Flutterwave and Chipper Cash. The CBK said in a letter to the CEOs of commercial banks, microfinance companies and mortgage lenders that the two startups have been making money transfers without the required approval from the banking regulator.
