https://www.law360.com/fintech?utm_source=rss&utm_medium=rss&utm_campaign=section Latest articles for: Fintech Copyright 2025 Portfolio Media, Inc. en-US Thu, 01 May 2025 23:44:47 +0000 https://www.law360.com/fintech/articles/2333755?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2333755 A Manhattan federal judge on Thursday suggested that he may grant all or part of a crypto trader's motion for acquittal or a new trial over allegations that he defrauded Mango Markets investors out of $110 million by manipulating the price of the exchange's native token, in a ruling that would likely center on issues involving mixed swaps or venue. Thu, 01 May 2025 23:03:50 +0000 https://www.law360.com/fintech/articles/2333266?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2333266 One of two Democrats suing President Donald Trump for unlawful termination from the National Credit Union Administration warned Thursday of damaging potential ripple effects if their firings are allowed to stand, casting their decision to litigate as daunting but necessary. Thu, 01 May 2025 22:01:27 +0000 https://www.law360.com/fintech/articles/2333124?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2333124 Cohen Milstein Sellers & Toll PLLC and Lieff Cabraser Heimann & Bernstein LLP will represent a proposed class of investors in a suit alleging Jack Dorsey's fintech company Block Inc. created a "haven for criminal and illicit activities" on its Cash App and Square payment platforms despite touting its anti-money laundering protocols. Thu, 01 May 2025 21:41:26 +0000 https://www.law360.com/fintech/articles/2333554?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2333554 The U.S. Securities and Exchange Commission moved Thursday to drop its suit over cryptocurrency influencer Ian Balina's alleged promotion of so-called SPRK tokens, about a month after Balina's attorneys said the federal regulator planned to walk away from the case. Thu, 01 May 2025 21:40:59 +0000 https://www.law360.com/fintech/articles/2333087?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2333087 The Financial Industry Regulatory Authority announced online broker-dealer Interactive Brokers LLC will pay $400,0000 to settle claims it failed to report regulatory complaints and customer grievances regarding the functionality of its virtual platform to FINRA over an 11-year period. Thu, 01 May 2025 21:25:21 +0000 https://www.law360.com/fintech/articles/2333269?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2333269 The U.S. Department of the Treasury's financial crimes watchdog on Thursday called out Cambodia-based Huione Group as a primary money laundering concern and proposed to "sever its access to the U.S. financial system" due to its alleged laundering of $4 billion worth of crypto scam and other illicit proceeds. Thu, 01 May 2025 19:17:25 +0000 https://www.law360.com/fintech/articles/2333071?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2333071 The Consumer Financial Protection Bureau has agreed to a proposed consent judgment that would vacate a Biden-era rule banning an estimated $49 billion in medical debt from credit reports, striking a deal with lender trade groups that sued in Texas federal court to block the rule. Thu, 01 May 2025 18:35:19 +0000 https://www.law360.com/fintech/articles/2332962?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2332962 A special purpose acquisition company led by crypto influencer Anthony Pompliano and advised by Reed Smith LLP has filed for an initial public offering to raise $200 million, while two other blank-check companies eyeing the fintech and tech sectors have raised more than $400 million combined. Thu, 01 May 2025 17:04:16 +0000 https://www.law360.com/fintech/articles/2327183?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2327183 The banking industry's pending lawsuit against the state of Illinois stands to permanently enjoin state regulation of bank card processing, as well as clarify the outstanding and consequential issue of whether conflict preemption continues to cover third parties in certain circumstances, says Tom Witherspoon at Stinson. Thu, 01 May 2025 15:33:59 +0000 https://www.law360.com/fintech/articles/2332564?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2332564 A banker challenging the Federal Deposit Insurance Corp.'s use of in-house proceedings to level a fraud judgment against him told the Fifth Circuit that its recent decision overturning a $57 million Federal Communications Commission fine against AT&T confirms that the FDIC cannot rely on a "public rights" exemption to impose fines without a jury trial. Thu, 01 May 2025 12:54:01 +0000 https://www.law360.com/fintech/articles/2332483?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2332483 The Fourth Circuit found no error in a former cryptocurrency executive's conviction for fraud and conspiracy related to his time working at a foreign currency and cryptocurrency trading investment firm that the panel said was actually just a Ponzi scheme that never made any trades. Thu, 01 May 2025 12:51:28 +0000 https://www.law360.com/fintech/articles/2332022?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2332022 The U.S. Commodity Futures Trading Commission recently released a request for comment on the trading and clearing of perpetual-style derivatives, most common in the cryptocurrency market, necessitating a deep look at how these contracts operate and their associated risks, say attorneys at Moore & Van Allen. Thu, 01 May 2025 10:51:17 +0000 https://www.law360.com/fintech/articles/2332769?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2332769 Sony could sell its semiconductor unit for $49 billion, while proxy advisory firm Glass Lewis is considering ending its practice of advising shareholder votes on politically charged topics, and AI startup Nscale plans to raise $2.7 billion in private capital to support the construction of data centers around the world. Thu, 01 May 2025 10:21:44 +0000 https://www.law360.com/fintech/articles/2305667?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2305667 Serving as an adjunct college professor has taught me the importance of building rapport, communicating effectively, and persuading individuals to critically analyze the difference between what they think and what they know — principles that have helped to improve my practice of law, says Sheria Clarke at Nelson Mullins. Wed, 30 Apr 2025 22:59:38 +0000 https://www.law360.com/fintech/articles/2332775?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2332775 The U.S. House Financial Services Committee on Wednesday approved Republican budget legislation that would strip most funding from the Consumer Financial Protection Bureau and wind down an independent audit regulator for public companies.   Wed, 30 Apr 2025 22:53:46 +0000 https://www.law360.com/fintech/articles/2332696?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2332696 The Consumer Financial Protection Bureau on Wednesday abandoned more lawsuits, including its Fifth Circuit appeal over a Biden-era policy that expanded the agency's anti-discrimination scrutiny of financial firms, and said it will not focus on enforcing a contested small business lending rule. Wed, 30 Apr 2025 21:40:03 +0000 https://www.law360.com/fintech/articles/2332422?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2332422 PayPal Holdings Inc. successfully persuaded the Federal Circuit on Wednesday to uphold the invalidation of Fintiv Inc. mobile wallet patents it's accused of infringing, which then led to Apple Inc. beating a related appeal.  Wed, 30 Apr 2025 19:48:30 +0000 https://www.law360.com/fintech/articles/2332601?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2332601 Citadel Securities LLC released a white paper Wednesday that lays out policy recommendations for the U.S. Securities and Exchange Commission and the exchanges it regulates, calling on the agency to address concerns tied to secretive trading rooms as well as 24-hour buying and selling. Wed, 30 Apr 2025 19:43:26 +0000 https://www.law360.com/fintech/articles/2332053?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2332053 Two former executives of On Point Global LLC urged the Eleventh Circuit to reverse a civil contempt sanction of $102 million for violating a prior injunction, arguing that the lower court should have held a hearing to allow them to present evidence in their favor. Wed, 30 Apr 2025 19:16:42 +0000 https://www.law360.com/fintech/articles/2332479?utm_source=rss&utm_medium=rss&utm_campaign=section https://www.law360.com/fintech/articles/2332479 An Activant Capital Group fund has petitioned Delaware's Court of Chancery to approve a $7.5 million company-paid corporate benefit fee, citing a successful battle for cancellation of more than $37 million in Bolt Financial Group shares held by a controller who defaulted on a more-than $30 million company-guaranteed loan.