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Us Financial Regulation

All articles tagged with #us financial regulation

us-politics-and-policy2 hours ago•5 min saved

Senate stalls landmark digital assets bill amid record crypto lobbying

Even with more than $225 million spent by the crypto industry to influence Washington since Jan 2025, the Senate has stalled on the Clarity Act, a first-of-its-kind digital assets framework, with no vote scheduled as lawmakers negotiate; the House has passed its version, while Republicans and Democrats clash over bank customer protections, enforcement by Gary Gensler, and ethics rules around Trump’s crypto holdings—a lobbying push that has made crypto donors one of the top funding sources in the 2026 cycle.

via Financial Times|

#clarity-act #cryptocurrencies #lobbying

business4 days ago•4 min saved

UBS hit with record $125m AML penalty for lax controls

US FinCEN fined UBS $125 million—the largest penalty against a broker-dealer for Bank Secrecy Act violations—after finding UBS Financial Services failed to implement an effective AML program and to properly screen over $10 billion in foreign currency transactions from 2019–2023. The penalties, also levied by the SEC, CFTC and FINRA, label UBS a repeat offender and criticize a flawed Excel-based monitoring system that missed hundreds of alerts and weak due diligence on high-risk clients, including a Russian oligarch with ties to Putin. UBS says it has remediated its AML program and views the action as closure on a legacy matter.

via Financial Times|

#business #european-banks #financial-crimes-enforcement-network

us-politics-and-policy5 months ago•4 min saved

Trump escalates bid to curb CFPB amid cost-of-regulation claims

The Trump administration has stepped up its bid to dismantle the CFPB, citing a White House–Council of Economic Advisers analysis that its rules have raised borrowing costs for Americans—estimates range from about $237 billion to $369 billion—while court rulings have kept the agency operating during litigation; Democrats counter with different cost calculations and highlight CFPB gains, noting the agency has returned nearly $20 billion to consumers and secured $5 billion in fines, but critics say the regulatory burden has restricted credit and driven up costs.

via Financial Times|

#consumer-financial-protection-bureau #donald-trump #financial-services

business6 months ago•5 min saved

Crypto lobby shifts stance as US regulation bill stalls

Big crypto players have withdrawn support for the Clarity Act, a sweeping US bill to regulate digital assets, after Coinbase CEO Brian Armstrong pulled his backing and the Senate delayed action amid internal industry disputes. The move underscores infighting between crypto firms, banks, and lawmakers as midterm politics loom, leaving the bill’s fate uncertain even as the White House pushes crypto-friendly rules and debates over issues like stablecoins and tokenized securities persist.

via Financial Times|

#business #cryptocurrencies #digital-currencies