Paycheck Protection Program (PPP) loans presented trouble for FinTech lenders, a University of Texas study released Tuesday showed. The study, which examined more than 10 million loans for potential red flags, showed 9 out of 10 of the highest rates of suspicious loans being approved by FinTechs. To some extent, this dubious distinction makes some sense; more than 70% of all … [Read more...] about FinTechs Led in PPP Fraud, UT Study Shows
regulation
Institutional DeFi 101
During a week that featured a dramatic battle over crypto taxation in the U.S. Senate, a major recovery in the price of bitcoin and ether, and the most bizarre crypto hack and recovery ever, the steady interest in decentralized finance by institutional investors continued. The evidence: a steady stream of comprehensive DeFi research for institutional investors. The … [Read more...] about Institutional DeFi 101
In FinTech We Trust
As the digital revolution becomes more and more ubiquitous, the question of what’s going to make FinTechs stand out from the pack becomes increasingly more pressing. The answer, that said, is as old as business – reputation and trust are the drivers that will make or break any financial company no matter how cutting-edge their technology products. How best to build that … [Read more...] about In FinTech We Trust
Washington DC Gets Crypto Fever
The political jockeying for regulatory positions on digital asserts continued this week. The head of the Commodities Futures Trading Commission let the Securities Exchange Commission know that only the CFTC could regulate crypto. The Biden administration fought cuts of provisions to regulate cryptocurrencies in the infrastructure bill. Meanwhile, American Banker wonders … [Read more...] about Washington DC Gets Crypto Fever
Who Will Regulate Stablecoins in the U.S.?
U.S. financial regulators are calling for stablecoin regulation with representatives of the nation's primary regulatory offices making the rounds of Congress and the financial media over the past two weeks. That stablecoins, cryptotokens backed by national currency or other fixed assets, pose risks and should be regulated is not the primary question. It's which office has … [Read more...] about Who Will Regulate Stablecoins in the U.S.?
CFTC Commissioner Urges Caution for DeFi Investors
DeFi – short for Decentralized Finance – continues to be a hot topic on the cutting edge of financial trading. The appeal of somehow cutting away from intermediaries to a pure peer-to-peer trading and lending experience has a strong allure for a lot of technologically inclined investors, and as investments in the space grow, the market potential seems huge. But, like … [Read more...] about CFTC Commissioner Urges Caution for DeFi Investors