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Bitcoin Daily: Ant Financial Starts Pilot For SMB Blockchain Network; Wyoming Announces Regulations For Crypto Custodians

PYMNTS

“While the blockchain is open to developers and institutions from all over the world, we will be cautious in terms of selecting nodes on the platform,” Jieli Li, senior director of technology and business innovation at Ant Financial, said in reports. But in the last two years just in crypto I’ve seen it multiple times.”

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Google Slapped With Antitrust Lawsuit Filed By Coalition Of 38 States

PYMNTS

This is a historic time for both federal and state antitrust authorities, as we work to protect competition and innovation in our technology markets.” . DOJ and state attorneys general have conducted separate but parallel investigations into Google’s anticompetitive market behavior,” Weiser said in a press release.

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Avanti Plans Real-Time Settlement Solution For Corporate Treasurers

PYMNTS

Avanti Financial Group said in a press release that it has received permission from the Wyoming Division of Banking to begin operating in the state as a bank as early as October and plans to offer a real-time settlement solution for corporate treasurers. Avanti made its Wyoming intentions clear in February. ”

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Wyoming creates fintech sandbox

CFPB Monitor

Earlier this year, Wyoming became the second state to create a financial technology (fintech) sandbox by enacting the “ Financial Technology Sandbox Act ” (Sandbox Act). The provisions requiring Wyoming’s Banking Commissioner and Secretary of State to adopt implementing regulations became effective on February 19, 2019.

Wyoming 60
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Bitcoin Daily: US Regulators Join Global Financial Innovation Network; Colorado Explores Crypto Banking For Cannabis Firms

PYMNTS

The Commodity Futures Trading Commission ( CFTC ), Federal Deposit Insurance Corporation ( FDIC ), Office of the Comptroller of the Currency ( OCC ), and the Securities and Exchange Commission ( SEC ) have announced that they are joining the Global Financial Innovation Network ( GFIN ). Colorado’s bill does have support from some lawmakers.

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GAO: FinTech Firms, FIs Seek Alternative Data Clarity In Lending

PYMNTS

Closer to home, in Wyoming, a bill has debuted in the state legislature to create a FinTech sandbox. “We are examining whether any changes in laws are required in terms of its dispensation, which may be needed when you try to have a sandbox and allow an activity which otherwise needs registration that the Act may not provide.”.

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'Just a kid from Wyoming': Caitlin Long fights for regulated crypto

American Banker

Long, founder and CEO of Custodia Bank, has pushed for digital-asset regulation in her home state of Wyoming. Now she's working on a national scale.

Wyoming 56