Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
SEC Launches Fintech Hub To Engage With Cryptocurrency Startups And More
Forbes | | Oct 18, 2018
The U.S. Securities and Exchange Commission is launching a portal for engaging with companies using blockchain, artificial intelligence and more.
Available today, the new fintech hub, or FinHub for short, is designed to bring the SEC’s existing services to a single access point and provide an easier way for companies to communicate with the public.
As startups building with blockchain increasingly come under the SEC’s attention, the new portal has the potential to streamline the process of building compliant platforms prior to launch.
The SEC’s FinHub will be led by Valerie A. Szczepanik, senior advisor for digital assets and innovation and associate director in the SEC’s Division of Corporation Finance.
“We’ve been doing these things for years,” Szczepanik told Forbes. “This is going to bring it all together.”
The FinHub will be staffed by representatives from the SEC’s divisions and offices who have expertise and involvement in fintech-related issues.
See: Canadian securities regulators provide additional guidance on securities law implications for offerings of tokens
In addition to asking questions of the SEC, those who use the site will be able to request meetings. To increase engagement, a binary code “Easter egg” message has been hidden on the page.
Over the past year the number of cases being publicly pursued by the SEC has increased. As a result the U.S securities regulator earlier this year published a webpage that spoofed scam websites as a way to educate potential investors and blockchain builders. The new portal appears to be an extension of that strategy.
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Read More
Read More
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Read More
Read More
Tristram Waye for Bitvo | Jan 26, 2023 Crypto blew up, governments cracked down, regulation forthcoming? We are now in a place where awareness has to be exercised in places where trust was once taken for granted. And that means embracing two principles from the Middle Ages. These are caveat emptor and the fiduciary standard. Caveat emptor: The word caveat emptor means buyer beware in Latin. The idea is that the buyer is responsible for assessing whatever it is that they are buying. Its origins date back to the open markets of the 16th century. In developed countries, the concept has moved from buyer to seller beware. Numerous consumer protection laws have been enacted to lift the burden from the buyer and shift it to the seller. In general, there are numerous remedies for established consumer products. See: How Important is KYC for crypto transactions? But for speculative, largely unregulated assets like crypto, caveat emptor is still highly relevant. Keep in mind that in contrast with venture capital, crypto secondary markets are a massive benefit. As William Janeway said about venture capital, cash and control are key elements in VC. Meaning that if the project goes sideways, you can’t sell ...
Read More
Read More
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Read More
Read More
FIS Release | Kim Snider | Jan 24, 2023 A global study of 2,000 executives at firms across markets revealed plans to increase investment in embedded finance, environmental, social, and governance (ESG) frameworks, and decentralized finance in 2023, including cautious optimism towards cryptocurrency. Inaugural research by FIS 2023 Global Innovation Report asked c-suite and senior executives in financial services (banks, insurers, capital markets firms, and fintechs) and non-financial businesses (retail, restaurants, travel, gaming and digital content, and technology providers) globally about their key areas of financial investment in 2023. 4% of financial services firms’ executives across the globe say they will invest significantly in developing embedded finance products in 2023 as consumers demand more convenient ways to pay, bank and invest. Nearly two-thirds (61%) of all non-financial services executives told FIS it will be strategically important to have a presence in the metaverse in the next three years. See: Deloitte 2023 Sustainability Report: Most Organizations Have Increased Investment but Tough to Move the Needle FT Partners Jan 2023 Blockchain and Crypto Market Update Report ESG is top of mind for financial services firms globally, with 60% of executives saying they are developing new ESG products and services. Nearly one-third (29%) ...
Read More
Read More
Jan 26, 2023 The gambling industry in the United States significantly contributes to the economy, generating billions of dollars in revenue each year. From Las Vegas to Atlantic City, casinos and other legal gambling attract millions of visitors and employ thousands of people. In recent news from Casino USA, the US gambling industry has set a new quarterly record for casino revenue, reaching an all-time high. It is a significant milestone for the industry, demonstrating its resilience and continued growth despite the challenges posed by the ongoing COVID-19 pandemic. Details of the Record The US casino industry generated record-breaking revenue in the latest quarter, surpassing all previous records. The revenue generated is yet to be officially announced, but early estimates suggest it exceeds $50 billion. It represents a significant increase compared to the same quarter in the previous year and is a clear indication of the industry's resilience in the face of the ongoing pandemic. The latest quarter's revenue numbers are significantly higher compared to previous quarters. During the last quarter, the industry generated around $40 billion, indicating a growth of over 25% in the latest quarter. It is an impressive performance, especially given the ongoing uncertainty and economic challenges ...
Read More
Read More
Knowledge at Wharton | Angie Basiouny | Jan 17, 2023 A new book from Wharton management professor Emilie R. Feldman offers a comprehensive primer on divestitures, which can be a financial game-changer for companies that know how to execute them correctly. Feldman, whose research focuses on corporate strategy and governance, spoke to Wharton Business Daily on SiriusXM about her book, “Divestitures: Creating Value Through Strategy, Structure, and Implementation,” which was released in December. Opportunity cost: Often the idea of focus is overlooked by executives, and this is really the missed opportunity that could be pursued in the sense that divesting, removing assets and businesses that don’t fit and might be underperforming, could free up resources to pursue better opportunities in a more focused fashion after completion of those transactions. “Managerial compensation is strongly correlated with market capitalization, so there’s a financial incentive not to divest because doing so reduces the executive’s bottom line.” See: Bill Gates Announces $20 Billion Donation and Obligation to Return His Resources to Society 4 strategies: resolving or exiting underperforming businesses; improving focus; reconfiguring and reshaping the corporate portfolio to move into more profitable opportunities; and addressing regulatory requirements. Types of divestitures: Sales are the most ...
Read More
Read More
Jan 26, 2023 Thinking of buying a home for the first time but worried about the upcoming recession? With so much economic uncertainty, it's understandable that you might be a bit hesitant to make those big purchases. But don’t worry because There are many first-time homebuyer assistance programs available that will help you make your dreams of homeownership a reality - even in the most uncertain of times. Advantages Of Homeownership During a Recession It’s no secret that recessions can be tough, but did you know that homeownership during a recession can actually work in your favor? According to the US Census Bureau, the median net worth of homeowners is $195,400 higher than that of renters. This allows homeowners to weather the storm when the economy falters better than renters who rely on fluctuating rental rates for their monthly income. Additionally, homeownership offers a number of tax benefits for homeowners, including: Tax-free interest Tax deductions for mortgage interest Tax deductions for property taxes Tax deductions for mortgage insurance premiums Tax deductions for energy-efficient home improvements But one of the most important advantages of homeownership during a recession is the potential for long-term growth. Property values may decline slightly during recessions, ...
Read More
Read More
Jan 25, 2023 The online gaming industry is forecast to grow significantly in the next few years. As the industry expands, there will be an increasing demand for payment solutions that are both effective and secure. In this blog post, we'll look at some of the challenges facing the industry and potential payment solutions for 2023 and beyond. We'll also examine how recent developments in financial technology may shape the future of payments in online gaming. The current state of the online gaming industry The online gaming industry has been booming over the past few years thanks to advancements in technology, especially in the realm of financial technologies. Companies have been able to tap into new payment methods using cryptocurrencies and alternative payment systems. This means gamers can actively engage with virtual economies similar to what they’re already doing in the AR/VR/metaverse without worrying about traditional banking options. In addition, this shift has allowed for more accessible games where players can experience a more interactive world regardless of their economic background. Further technological advances are creating new opportunities every day as more developers create immersive graphics and storylines that attract wider audiences of gamers from all across the globe. It ...
Read More
Read More
Torys via Mondaq | Brigitte Goulard, Konata Lake, Marissa Daniels, Mohammed Muraj and Robin Asgari | Jan 25, 2023 Although many were hoping for the launch of the first phase of open banking in January 2023, as initially promised in the final report of the advisory committee on open banking, this date no longer appears achievable. However, progress continues to be made on open banking, with the first phase expected to launch this year. As the open banking steering committee and working groups continue their important work to create an open banking framework in Canada, the larger financial services community is preparing to integrate open banking for businesses and ultimately for consumers. See: Open Banking Interview with Canadian Lead Abraham Tachjian Accreditation: there was consensus that the Australian model is preferable. The Australian model allows participants to determine the adequacy of the insurance or comparable guarantee that they require by assessing factors such as the (1) nature of products or services to be provided; (2) nature of Consumer Data Right (CDR) likely to be managed; (3) volume of CDR data held; (4) financial resources; (5) scope; (6) policy limit; (7) persons covered; and (8) exclusions. The liability working group focused ...
Read More
Read More
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