FinTech Weekly - Another 2008? - Issue #407

Banking Opinions Regulation

Sally Bakewell discussed what could happen now to the Silicon Valley Bank and said that the bank wanted to initiate a rescue plan but failed to do so. The FDIC stepped in to close the bank. Now Sally can’t help but ask two questions: “What will happen now to the Silicon Valley Bank?” and “How could regulators miss this?”. She then added that they’re not sure on what will happen next, but the bank will probably go into some sort of sale procedure.

Cryptocurrency Regulation

Coinbase is willing to list securities if given proper guidance from the Securities and Exchange Commission (SEC). Whai, an employee at Coinbase is suspected of leaking information about a new token list on Coinbase, and has become the main person of a civil complaint.

Banking Business Regulation

Regulators are having some trouble in finding a buyer for the firm over the weekend, after their try in auctioning the Silicon Valley Bank. But according to the Federal Deposit Insurance Corp. (FDIC) they might sell the firm now that the Silicon Valley Bank failure has been declared a threat to the financial system.

Banking Opinions Regulation

The issues the Silicon Valley Bank is facing are not the same as the 2008 crisis. The SVB is not Lehman: according to Paul Krugman, even if the collapse of the bank can result in a systemic risk, the current situation is not like 2008.

Banking Regulation

On Monday, President of the United States Joe Biden said that the US banking system is safe and is taking action to contain the recent collapse of the Silicon Valley Bank. People will have access to their money. The President also said that people must take action on this issue to prevent it from happening again.

Regulation Security

A new bill presented to the Parliament last week, the Data Protection and Digital Information Bill (DPDIB), will hopefully boost the economic growth of the United Kingdom. People are worried that this new law will put citizens privacy in dange, but the UK Parliament assures that the privacy of the citizens will be safe.

Banking Business

The bank of Silicon Valley has come to an end this week and it shocked everyone, even the most experienced and the most expert people in finance. Fintechs, which are not banks, can partner with them and offer diversification and convenience. Basically, they’re winning customers.

Banking Business Regulation

Chinese enterprises said that the sudden collapse of the Silicon Valley Bank had a limited impact on them, but they should be aware of the risks of the financial collapse. The world saw the collapse of the Silicon Valley Bank on Friday and 31 clients were from China or overseas.

Blockchain Business Cryptocurrency

The MENA WadzPay president, Khaled Moharem, an expert in the financial sector also thanks to his previous work with SWIFT, has been implementing digital payment solutions in the UAE and Saudi so he can add value to the growth of digital asset payments.

Banking Business Investments Politics Regulation

A complete definition of FinTech is the starting point to understand what is happening in the industry, why fintech is disruptive, where regulators are headed. FinTech Weekly published a comprehensive definition you can use to clear all your doubts.

Regulation

Since regulators are always more active – and maybe too severe – in regulating the fintech industry, we share 5 steps that can help to regulate fintech … but in a sustainable way.