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China to push reforms with new financial watchdog

China will establish a new federal financial regulatory body to replace its current banking and insurance watchdog, following plans for developing a national data bureau unveiled recently. The legislature may vote on reforms soon According to the proposal for financial regulation made to the Chinese parliament at its annual session, the State Council would oversee […]
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California watchdog issues cease order on crypto firm

Due to potential breaches of state securities law, the California Department of Financial Protection and Innovation (DFPI) has ordered the cryptocurrency lending platform MyConstant to stop marketing many of its cryptocurrency-related products. This comes after the watchdog issued a warning in July stating that it would be cracking down on companies offering cryptocurrency interest accounts […]
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