While not all of you might be interested in Bitcoin ETFs, FinTech Weekly opens this number with a piece of news related to this hot topic. Why? Because it might be a sign that the SEC is (still) acting too arbitrarily. In this case, we might consider the giant Grayscale as one of the most affected parties, but the point here is that not only giants are affected. And the SEC might not be the only regulator that misses the expectations of SMEs and everyday investors and account holders. While the US discusses the decisions of Gary Gensler, the chairman will address topics like security and AI at the National Press Club Luncheon – what to expect? The UK is another example of a country where regulators might miss the expectations of SMEs. On the other hand, the case of Hong Kong shows that people are able to find alternative solutions when regulators miss expectations. This and much more in this number of FinTech Weekly – stay ahead of the competition and discover top fintech news and events.
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After the approval of the leveraged Bitcoin future ETFs, many thought that the approval of the spot BTC ETF would be easy. But it wasn’t so – and it’s bad news for Grayscale. Is the SEC acting too arbitrarily?
Warren Davidson, like all crypto advocates, would like to fire Gary Gensler. Is the U.S. losing ground to Europe and Asia because of the SEC's decisions?
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Hong Kong has many crypto gray zones when it comes to physical stores that use cryptocurrencies – and visitors from the mainland impressively increased because of this.
The UK should rejuvenate the economy, but it looks like it has collected some tech failures over time. While countries like Sweden and Singapore managed to favor retail investors and savers, it seems that the UK still has a long way to go.
In the meantime in Hong Kong, Payment Asia launches its first AI-powered complete payment processing service, “taking merchants’ sales to the next level”.
The National Press Club Luncheon will host SEC’s Gary Gensler – who will address hot topics like security and artificial intelligence. What are the plans of the chairman for these fields?
UK small businesses might be “disproportionately affected” by the proposals regarding subscriptions. As a part of the Digital Markets, Competition and Consumers Bill, ministers want to make it easier for customers to cancel paid subscriptions. This is a good proposal for customers, but as Tina McKenzie – policy chair of the Federation of Small Businesses – pointed out, the fact that customers would be able to cancel subscriptions “by any means” would be too difficult for businesses to manage – since “any means” even includes social media.
The Future FinTech Group (FTFT) finally agreed to pay a $1.65 million fine levied by the SEC. According to the regulator, the group filed inaccurate annual reports. As reported by Compliance Week, the group paid, but “without admitting wrongdoing”.