SEC sets its sights on the crypto “Wild West”

"When Garey Gensler took over as the head of America’s Securities and Exchange Commission (SEC) in April, he might have seemed pretty crypto-friendly. Only months before he had taught a course on cryptocurrencies at the Massachusetts Institute of Technology; he has said that the innovation associated with bitcoin will be a “catalyst for change” in finance. Yet, speaking at the Aspen Security Forum on August 3rd, he probably dashed the hopes of crypto buffs. He signaled that he would seek tougher policing of the crypto-sphere, which he described as “rife with fraud, scams and abuse”."

 

So writes The Economist in a recent edition.  

Read the full article HERE.

“TOP READS OF THE WEEK” (for week ending 27 August)

This week’s top reads in banking, fintech, payments, cybersecurity, AI, IoT, risk management and much more

In this weeks selection;

Top Reads

• Bank of America nets record 227 patents in first half of 2021
• How Will Banking Respond to Embedded Finance Model?
• Consumer dissatisfaction with credit cards continues to rise
• How much does phishing really cost the enterprise?
• Crypto ATMs multiply despite challenges to the currency
• Are global investors finally rising to the ESG challenge?
• Phishing Costs Nearly Quadrupled Over 6 Years
• Cybersecurity: These two basic flaws make it easy for hackers to break into your systems
• Can legacy banks stay relevant with banking as a service?
• Blockchain: A Neat Example of the Ingenuity of Contemporary Fintech Solutions
• Anti-fraud niche in payments thrives as e-commerce climbs
• Consumer dissatisfaction with credit cards continues to rise
• SEC challenged in court over Nasdaq rule requiring board diversity
• Why most companies don't understand speed is vital to cybersecurity
• How to manage treasury operations safely and securely in the digital age
• California Fintech MovoCash Expands Fund Transfer Options with Assistance from Fiserv
• Anti-fraud niche in payments thrives as e-commerce climbs
• What the DOJ’s Involvement in Cyberattacks Means for the Future of Ransomware
• Klarna tallies 20M US customers

From our Blog

• Why China’s Tough Stance on Crypto Mining Is a Boon for Miners Elsewhere...
• The Most Commonly Experienced Types of Fraud
• What is net zero?
• "Thieves of State": Sarah Chayes on Afghanistan
• New Online Course - Understanding Environmental, Social, and Governance (ESG)
• Should we be worried about technology?

Why China’s Tough Stance on Crypto Mining Is a Boon for Miners Elsewhere...

Cryptocurrency miners in China are turning off their machines after Beijing warned it would tighten its control over the industry. This has created an opportunity for miners elsewhere, as the power behind crypto becomes less dependent on one place.

The Most Commonly Experienced Types of Fraud

In this episode of Truth in Data, PaymentsJournal takes a look at the most commonly experienced types of fraud.

What is net zero? - The Economist

 

More than 50 countries around the world have pledged to become net zero. But what does net zero actually mean—and is it achievable?

“TOP READS OF THE WEEK” (for week ending 20 August)

This week’s top reads in banking, fintech, payments, cybersecurity, AI, IoT, risk management and much more

In this weeks selection;

Top Reads

• Bitcoin’s Increasing Value Is Its Real Failure
• The Fundamental Role of Payments is Rapidly Evolving
• Infrastructure Bill Threatens the Value of Cryptocurrencies
• Top 5 ransomware operators by income
• Say Good-Bye to the Payment Card Magnetic Stripe
• State Street to vacate NYC offices amid shift to hybrid work
• BlackBerry teams with Car IQ for in-vehicle payments
• Q&A with Amazon Alexa chief Rohit Prasad on the future of ambient computing
• Why CFOs speak to the press (and whether they should)
• Coinbase CFO amassing cash to weather 'crypto winter'
• FX risk: Identifying exposure through a Currency Map
• How much does phishing really cost the enterprise?
• Up to 83M IoT devices at risk of remote access
• Is Mobile banking really out performing Traditional banking in developing economies — Part 1
• PayPal drops BNPL late fees worldwide
• Payments called 'dominant driver' for fintech investment: KPMG
• Facebook Plays the Underdog
• 5 FinTech companies from the Nordics making an impact
• Fintechs much more likely to be linked to suspicious PPP loans, study finds
• Why bitcoin entrepreneurs are flocking to rural Texas - The Guardian
• Consumer dissatisfaction with credit cards continues to rise
• Realizing IoT’s potential with AI and machine learning
• Senators raise privacy concerns about Amazon One

From our Blog

• Apple’s Software Chief Explains ‘Misunderstood’ iPhone Child-Protection Features
• Why China’s Tough Stance on Crypto Mining Is a Boon for Miners Elsewhere
• "Thieves of State": Sarah Chayes on Afghanistan
• New Online Course - Understanding Environmental, Social, and Governance (ESG)
• Should we be worried about technology?
• ESG may sound like a PR spin, but you can't dismiss it

 

Apple’s Software Chief Explains ‘Misunderstood’ iPhone Child-Protection Features

Neural Hashes, Safety Vouchers and More Fun Terms Explained Apple’s tools for flagging child pornography and identifying explicit photos in kids’ messages caused backlash and confusion. In an exclusive interview, Apple software chief Craig Federighi sat down with WSJ’s Joanna Stern to defend the technology and explain how it will work.