department of financial protection and innovation
California Governor Signs Digital Financial Assets Bill, Tightening Crypto Regulations from July 2025
California Governor Gavin Newsom signed the Digital Financial Assets Law on October 13, 2023, initiating a robust regulatory framework for cryptocurrency activities in the state from July 1, 2025. The law necessitates licensure from the Department of Financial Protection and Innovation for individuals and businesses dealing in digital assets. This regulatory shift, contrasting Newsom’s earlier stance in 2022, aligns with broader national trends towards formalizing digital asset transactions to curb fraud and enhance consumer protection.
United States Financial Regulators Sign Onto the Global Financial Innovation Network
In a joint report released by the US Securities and Exchange Commission on 24th October 2019, four US financial watchdogs have joined the Global Financial Innovation Network (GFIN).
Fidelity’s Crypto Arm Given the Green Light by the New York State Department of Financial Services
Fidelity Digital Assets Services (FDAS), the cryptocurrency arm of Fidelity Investments has been granted a license by the New York State Department of Financial Services (NYDFS), allowing the company to offer cryptocurrency trading and custody services.
US Treasury Department Warns Regulators of Potential Risks of Digital Assets
The Financial Stability Oversight Council (FSOC) of the US Treasury Department has released its annual report with a crucial warning of digital assets disruption.
Russia’s Central Bank Will Ban Crypto Issuance and Trading in Upcoming “Digital Financial Assets” Bill
Alexey Guznov, head of the legal department at Bank of Russia, says that the new version of the delayed bill on “Digital Financial Assets” will include a ban on issuance and selling of cryptos in the country.
The Rise of the Anon: Protecting Innovation
Anonymity is increasingly offering protection to innovators as well as their ideas.
US Department of Homeland Security to Host Blockchain-Based Digital Wallet Event with $25K Reward
DHS Science and Technology Directorate (S&T) and Silicon Valley Innovation Program (SVIP) will host a virtual event for a Digital Wallets Challenge on Oct 27.
US House of Representatives Passes Blockchain Innovation Act On to the Senate
Two bills introduced by Rep Darren Soto—the Digital Taxonomy Act and the Blockchain Innovation Act—have passed the Lower House and are on their way to the Senate.
US Treasury Department Proposes New KYC Requirements for Cryptocurrency Transactions
The U.S Treasury Department has released a notice concerning a new rule that would require money services businesses and banks to verify identities, keep records, and submit reports of users holding crypto assets in unhosted wallets.
Department of Homeland Security (DHS) Trials Blockchain Solution for Canadian Borders
Department of Homeland Security (DHS) trials Blockchain solution for Canadian borders - Works with Customs Direct, a partner with blockchain expert Morpheus.Network, to fast track multiple Proof of Concepts (POCs).
Microsoft and Finastra Open Cloud Solution to Exponentially Accelerate Innovation for 8,500 Banks and Institutions
Finastra and Microsoft Corp have announced a strategic, multiyear cloud agreement to help accelerate the digital transformation of financial services and help realise and open source future for finance.
SEC Commissioner Hester Peirce Wants Regulator Clarity for Crypto Innovation
Hester Peirce, Commissioner of the Securities and Exchange Commission has continued her push for regulatory clarity on crypto and blockchain projects to encourage innovation in the US capital markets.
Financial Conduct Authority, the Pacemaker of the UK FinTech Revolution
We arranged an interview with Maha El Dimachki, Head of Payments of the FCA during Singapore FinTech Festival, which El Dimachki shares with us the contribution of the FCA for UK as the thriving FinTech hub, opportunities and threats of e-money firms from the current digital disruption.