More than 2,000 African business leaders, heads of state, investors and policymakers are set to gather in New York on September 20 and 21 for Unstoppable Africa 2026, with investment, trade and ownership of African value chains at the centre of the agenda. The fifth edition of the Global Africa Business Initiative’s flagship forum will be held at the New York Marriott Marquis during the opening of […]
SpaceX has held informal discussions about buying customer and operational data from troubled or defunct startups to train artificial intelligence models, people familiar with the talks say, as the company looks for lower-cost information beyond material available on the public internet. The discussions are taking place within SpaceXAI, the artificial intelligence operation created after SpaceX acquired Elon Musk’s xAI business in February. No transaction has been announced, […]
PayitFast has signed a memorandum of understanding with Dubai-based luxury travel company Zameera to give members access to curated high-end journeys through Verati, its lifestyle and concierge platform. The agreement, announced in Dubai on September 16, brings Zameera’s travel portfolio into the PayitFast ecosystem, extending the digital payments company’s member offering beyond financial services. The companies said the first selection will include a private safari camp in […]
Nigeria’s fixed-income market appears to be crossing an important threshold. For much of the past two years, yields were principally shaped by a familiar combination of aggressive government borrowing, restrictive monetary policy and investors demanding substantial compensation for inflation and currency risk. That hierarchy is changing. AAG Capital argues that liquidity is becoming the more powerful force behind pricing, potentially pushing government yields lower even while fiscal […]
Washington’s rare purchase of Japanese yen has put currency intervention, US Treasury stability and global risk appetite into the same market equation, with implications extending to bitcoin and other digital assets. The US Treasury joined Japan on July 31 in buying yen to counter what Tokyo described as excessive volatility and disorderly moves in the currency. Japan’s Ministry of Finance confirmed the coordinated operation on August 3, […]
Circle has opened its Arc blockchain to the public, bringing a purpose-built network for institutional finance, stablecoin payments and tokenised assets into live production. The New York-based digital finance company said Arc’s public mainnet went live on Wednesday with more than 100 applications and more than 100 institutional and ecosystem builders spanning banks, asset managers, payment networks, exchanges, custodians, decentralised finance protocols, wallets and artificial intelligence platforms. […]
Meta Platforms is preparing a camera-free pair of smart glasses, internally code-named Luna, for an expected autumn debut, with shipments targeted for October, according to people familiar with the company’s plans. The glasses are designed around voice-based artificial intelligence rather than photography or video, marking a notable departure from Meta’s existing camera-equipped eyewear. People familiar with the product say Luna will contain six microphones, open-ear speakers and […]
Ramesh Khandelwal, who represents Madhya Pradesh on the government-constituted board, said on Wednesday that the 0.4 per cent merchant discount rate, or MDR, on UPI transactions above Rs 2,000 was at odds with the government’s stated emphasis on ease of doing business. The charge is due to take effect on October 15.
Khandelwal said he would raise the issue at the next meeting of the National Traders’ Welfare Board and sought an immediate rollback in the wider interests of merchants and customers. He argued that businesses operating on thin margins could struggle to absorb the additional transaction cost and that some of the burden might ultimately feed into retail prices.
The National Payments Corporation of India has said the revised framework will apply to specified person-to-merchant UPI payments above Rs 2,000. The fee will be borne by merchants rather than consumers and will be capped at Rs 300 for transactions of Rs 75,000 or more.
Person-to-person transfers, including payments between friends and family, will remain free. Merchant transactions up to Rs 2,000 will also continue without MDR, while small merchants receiving up to Rs 1 lakh a month through UPI QR payments are exempt under the framework.
Specified categories including railway tickets, fuel, agriculture, utilities, telecom, insurance, credit-card dues and tax payments will attract a lower flat charge of Rs 5 on eligible transactions above Rs 2,000. The government has also advised banks to ensure that merchants do not directly pass the MDR on to customers.
The opposition from Khandelwal adds to broader concern among traders over the return of merchant charges to UPI after more than six years of a zero-MDR regime. A nationwide LocalCircles survey of more than 32,000 merchants and businesses across 242 districts found that only 17 per cent of respondents were willing to bear a 0.4 per cent MDR on payments above Rs 2,000, while 41 per cent said they were unwilling to pay any such fee.
Merchants have raised particular concerns about sectors where high-value digital payments are common but margins are comparatively narrow. Textile traders in Surat, for example, said the levy could affect smaller businesses and workers who use UPI extensively for salaries, purchases and other routine transactions.
The policy change also marks a significant shift in the economics of the UPI ecosystem. Banks, payment applications and payment aggregators have long argued that the rapid expansion of transaction volumes requires greater spending on infrastructure, fraud prevention, cyber security and system capacity. The new MDR is intended to create a revenue stream to support those costs while keeping small-value and personal transfers outside the charging structure.
UPI has become the dominant retail digital payment system, with billions of transactions processed every month. That scale has increased the cost of maintaining the network even as users have become accustomed to making payments without a visible transaction fee.
The government’s approach seeks to confine the charge to larger commercial payments and to limit the exposure of small merchants and customers. Under the announced structure, a Rs 5,000 eligible merchant payment would carry an MDR of Rs 20, while a Rs 50,000 payment would cost the merchant Rs 200. Payments of Rs 75,000 and above would face the Rs 300 ceiling.
Khandelwal’s intervention puts the focus on whether traders will accept those costs or seek alternatives such as cash, bank transfers or other payment methods. His position is that even a small percentage charge, when repeated across large transaction volumes, can become a meaningful operating expense.
The dispute is likely to centre on merchant margins, enforcement and whether businesses can absorb the levy without changing prices or payment preferences. Traders also want clarity on how exemptions will be identified at the point of payment, particularly where a business accepts UPI through multiple bank accounts, QR codes or payment service providers across different locations.
The All India Petroleum Dealers Association, led by president Ajay Bansal, made the request in a letter to Finance Minister Nirmala Sitharaman on Wednesday, seeking relief before the revised UPI merchant payment framework takes effect on October 15.
Under the new framework, person-to-merchant UPI payments above ₹2,000 will generally attract an MDR of 0.4 per cent, with the charge capped at ₹300 for transactions of ₹75,000 and above. Fuel, railways, telecommunications, insurance and agricultural inputs have been placed in a separate essential-sector category carrying a flat MDR of ₹5 on payments above ₹2,000.
The Finance Ministry has said person-to-person UPI transfers will remain free regardless of value, while merchant payments of up to ₹2,000 and qualifying small-merchant transactions will also continue without MDR. It estimates that about 96 per cent of merchant UPI transactions will remain unaffected by the change.
AIPDA, however, said petrol pump economics differ from businesses where earnings rise with the value of a sale. Dealer margins are determined by oil marketing companies under the petroleum ministry’s framework and are primarily fixed on a per-litre basis, leaving outlets unable to offset payment-processing costs through higher margins on larger transactions.
“Dealers therefore have no mechanism to increase their earnings in proportion to the value of a transaction,” the association said in its letter.
The dealers’ body said even a flat ₹5 charge could become material because fuel stations handle large transaction volumes every day. It argued that multiplying the fee across thousands of payments would create a recurring cost burden, while applying the general 0.4 per cent rate would be still more difficult for the sector to absorb.
AIPDA asked for an absolute exemption from MDR and associated transaction fees for all UPI payments at retail fuel outlets, irrespective of value. As an alternative, it urged the government to provide a specific exemption for petrol pumps from both percentage-based MDR and fixed per-transaction charges if the ₹2,000 threshold is retained.
The association also warned that imposing the fee could encourage some dealers to discourage or restrict UPI payments above the threshold to protect margins, a development it said would run against the government’s goal of expanding digital payments and improving transaction transparency.
The Finance Ministry, setting out the rationale for the framework, said MDR is not a tax and is not collected by the government or the National Payments Corporation of India. The fee will instead be distributed among banks, payment service providers and UPI application providers to support the operation and expansion of the payment network.
The ministry said the differentiated fee structure was designed to preserve free payments for individuals and small merchants while creating a sustainable revenue stream for the wider UPI ecosystem. The flat ₹5 rate for fuel and other essential services was intended to give businesses in thin-margin sectors greater cost certainty than a percentage-based charge.
Dealers contend that fuel retailing warrants stronger protection because the mode of payment does not change the underlying economics of a petrol or diesel sale. They also cited earlier concessions on card-payment costs as evidence that fuel transactions have previously received distinct treatment within the digital-payment system.
The association said its commissions had not received an upward revision since October 2017 even as expenses including electricity, wages and regulatory compliance had increased. It said discussions with oil marketing companies over dealer earnings had yet to resolve the pressure on operating margins.
The dispute comes as fuel retailers prepare for the October implementation of the revised UPI rules. Dealers’ groups from several states have also approached the finance and petroleum ministries, seeking relief from the new fee and warning that outlets could reconsider accepting higher-value UPI payments if they are required to absorb the charge.
Arabian Post Staff -Dubai Emirates NBD has provided Cars24 Arabia with a digital revolving short-term financing facility to support the used-car platform’s expansion across the UAE and speed access to working capital for eligible dealers and business partners. The Dubai-based bank said the facility is built around an application programming interface, or API, that links its automated lending capabilities directly with Cars24 Arabia’s digital platform. Eligible businesses […]
More than 11.6 million cryptocurrency tokens stopped trading in 2025, an unprecedented annual total that accounted for 86.3% of all failures recorded by CoinGecko’s GeckoTerminal dataset between mid-2021 and the end of last year. The figure marks a steep acceleration from 2024, when 1,382,010 projects were classified as failed, and highlights the fragile economics of a market flooded with easily created tokens, particularly meme coins. CoinGecko counted […]
US midterm elections are emerging as a fresh policy risk for artificial intelligence-linked stocks as President Donald Trump defends rapid AI development while candidates from both parties respond to widening voter resistance to data centres and calls for tighter safeguards. The political pressure intensified this week after Trump rejected demands for a slowdown in advanced AI development and argued that existing laws and enforcement powers were sufficient […]
Middle East supply disruptions are accelerating Africa’s drive to expand domestic refining and production as governments and companies seek to reduce exposure to volatile fuel costs and vulnerable shipping routes. Disruption around the Strait of Hormuz and Red Sea has pushed energy markets higher, raising import bills across a continent where most countries remain net buyers of crude or refined petroleum products. The African Development Bank says […]
Arabian Post Staff -Dubai Fasset will become the first platform worldwide to list DDSC, the UAE dirham-backed stablecoin, under a new collaboration that will also allow users to swap the token with major dollar-backed stablecoins including USDC and USDT. The arrangement expands DDSC’s distribution beyond its initial institutional use and follows regulatory approvals that opened the way for the token to appear on selected platforms overseen by […]
Monaco is poised to leave the Financial Action Task Force’s grey list next month after completing an on-site review of reforms aimed at strengthening controls against money laundering and terrorist financing, with Bulgaria and Côte d’Ivoire also moving towards removal. The Paris-based watchdog is expected to consider the three jurisdictions at its plenary meeting from October 26 to 30, after determining in June that each had substantially […]
The US Senate failed to advance the Digital Asset Market Clarity Act on Tuesday, halting the cryptocurrency industry’s strongest attempt to secure a comprehensive federal market structure framework and pushing the regulatory burden back towards existing agencies. The cloture motion on the measure, H. R. 3633, was rejected 49-50, according to the Senate’s official roll call. Sixty votes were required to end debate on the motion to […]
Five alleged leaders of the Cape Town branch of the Black Axe network have appeared in a New Jersey federal court after being extradited from South Africa to face charges over internet fraud and money laundering schemes that prosecutors say targeted victims in the United States. Perry Osagiede, 57, Franklyn Edosa Osagiede, 42, Osariemen Eric Clement, 40, Collins Owhofasa Otughwor, 42, and Musa Mudashiru, 38, were extradited […]
The US Senate failed to advance the CLARITY Act on Tuesday, handing the cryptocurrency industry a major setback despite a late White House effort to challenge banking-sector warnings that stablecoin rewards could drain deposits and curb lending. The procedural vote ended 50-49 in favour of advancing the legislation, 10 votes short of the 60 required. Republican senators Jerry Moran, Rand Paul, Josh Hawley and Thom Tillis joined […]
By TN Ashok The 18th BRICS Summit, held at Bharat Mandapam in New Delhi on September 12–13, 2026, was never going to escape Washington’s shadow — and it didn’t. Even as Prime Minister Narendra Modi steered eleven member states toward a unanimously adopted New Delhi Declaration that pointedly avoided naming the United States, President Donald […]
The article India steers 18th BRICS summit deftly, keeps anti-West rhetoric at bay appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).
HONG KONG SAR – Media OutReach Newswire – 15 September 2026 – WRISE Prestige, a core business of WRISE Group serving affluent and high-net-worth clients through a network of wealth consultants, is set to celebrate its second anniversary in Hong Kong on 16 September, marking two years of rapid growth and the next chapter in its approach to wealth advisory.
Since the end of 2024, WRISE Prestige in Hong Kong has recorded 927% growth in assets under management (AUM), 301% growth in revenue and a 382% increase in the number of clients. Its Hong Kong network has also grown to more than 400 IWCs, reflecting rising demand for independent, people-led advice and broader access to integrated wealth solutions.
Over the past two years, WRISE Prestige has broadened its role within the WRISE ecosystem, connecting clients with capabilities across different aspects of wealth and advisory. These include WRISE Capital for corporate finance and advisory services, WRISE Private for family office solutions and sophisticated wealth planning, and WRISE Master Trust for wealth structuring and legacy planning.
WRISE Prestige has broadened its solution capabilities in parallel, expanding its insurance spectrum from local offerings to Bermuda solutions and connecting clients with investment, banking, protection, trust and corporate advisory resources.
Client demand has become increasingly diverse, spanning liquidity, income, diversification, downside management, succession and cross-jurisdictional wealth planning. Structured products may be considered as part of client solutions where suitable, depending on risk tolerance and circumstances, illustrating the need for tailored risk-return outcomes rather than one-size-fits-all distribution.
The Group’s expanding regional footprint, including presences in Taipei, Shenzhen, Changsha, Chengdu, Wuxi and Vancouver, further strengthens WRISE Prestige’s ability to connect clients and wealth consultants with capabilities across markets.
The evolution comes as Hong Kong’s wealth management industry reaches a new scale. According to the Securities and Futures Commission, AUM in Hong Kong’s private banking and private wealth management business rose 24% year-on-year to HK$12.9 trillion at the end of 2025.[1]
As wealth grows, the needs behind it are becoming increasingly complex. Clients require holistic advice connecting investments and protection with family governance, business interests, succession and intergenerational planning. They increasingly value sound judgement, independence, expertise, trust and connectivity to a wider wealth ecosystem.
WRISE Prestige believes this is expanding the role of the wealth consultant. Building on the foundations of independent wealth advisory, the IWC approach puts the individual at the centre, considering their family, business, aspirations, risks and legacy, while drawing on a broader ecosystem to address wealth more holistically. Within this approach, independence refers to an open-architecture model that gives wealth consultants the flexibility to consider solutions from a broad range of financial institutions and providers, rather than being tied to a single institution or product. This approach does not imply the absence of conflicts of interest; any applicable conflicts are managed and disclosed in accordance with relevant policies and regulatory requirements.
IWC is now entering its next chapter, evolving from Independent Wealth Consultant to Intelligent Wealth Consultant. The new proposition builds on the open-architecture approach, trusted human relationships and professional expertise that have defined IWC, while bringing together the research, analytical and efficiency capabilities of AI.
Technology can enhance how wealth consultants analyse information, generate insights and serve clients, while human judgement, accountability and relationships remain at the heart of wealth advice. The goal is not to replace wealth consultants with AI, but to empower them with greater capabilities to support better-informed, more holistic wealth decisions.
As part of this evolution, WRISE Prestige is also strengthening the professional development pathway for its IWC network through QLC, a structured professional assessment covering four specialist areas relevant to the evolving needs of high-net-worth clients: Family Office, Trust, Offshore Insurance and Advanced Investment. IWCs who complete the QLC examination will earn the designation of IWC-Certified, establishing a common foundation of professional knowledge and standards across the network. Following certification, IWCs can continue to develop through pathways recognising both professional expertise and business performance.
Henry Shin, CEO of WRISE Prestige Hong Kong, said: “The wealth management industry has continuously evolved, from traditional institution-led models, to the emergence of independent financial advice, and now towards a new generation of wealth advisory. We believe the next stage of this evolution is intelligence.
Intelligent Wealth Consultant brings together the independence and trust that have always been fundamental to wealth advice with professional expertise, human judgement, and the insights and analytical capabilities of artificial intelligence. This is not about replacing the human element with technology, but about empowering our consultants with technology to deliver deeper insights and help clients make more informed and holistic wealth decisions.
At WRISE Prestige, we aspire to take this evolution one step further, not simply to witness the transformation of our industry, but to work alongside the industry in helping shape best practices for the next generation of wealth advisory.”
Looking ahead, WRISE Prestige expects wealth management to become more connected, technology-enabled and accessible. Its focus will remain on combining technology with human judgement and relationships, using technology to improve connectivity, insight and scalability while maintaining appropriate professional and regulatory standards.
Over the next two to three years, WRISE Prestige plans to expand its business-to-business capabilities and advance an Open-EAM architecture that connects IWCs, external asset manager partners and clients through the broader WRISE ecosystem. The architecture is intended to make it easier for wealth consultants and partners to access specialist capabilities across wealth management, banking, investments, protection, trust and corporate advisory services, supported by technology and the WRISE platform.
Through this approach, WRISE Prestige aims to create greater connectivity and scale for wealth consultants, more integrated choices for clients, and a stronger professional ecosystem for Hong Kong and the region. Its ambition for the next chapter is not only to grow its own platform, but also to contribute to the continued development of wealth advisory across the industry.
Hashtag: #WRISEGroup
The issuer is solely responsible for the content of this announcement.
WRISE is one of Asia’s fastest-growing financial firms, driven by strategic acquisitions of companies with deep expertise and solid foundations. With a strong presence across key financial hubs including Singapore, Hong Kong, Dubai, Tokyo, Shanghai, Shenzhen, Changsha, Chengdu, Wuxi, Taipei and Vancouver, WRISE is home to one of the largest networks of independent qualified advisors. With over 600 employees located globally, supported by an ecosystem of over 200 financial intermediaries and access to eight booking centres worldwide, WRISE ensures unparalleled service and expertise in navigating today’s financial landscape.
WRISE Group of companies include WRISE Wealth Management (Singapore), WRISE Wealth Management (Hong Kong), WRISE Wealth Management Middle East Ltd (DIFC, regulated by the DFSA), WRISE Prestige (Hong Kong), WRISE Prestige Securities (Hong Kong), WRISE Prestige Asset Management (Hong Kong), WRISE Capital (Hong Kong), WRISE Financial Services (Hong Kong), and affiliates including WeWrise Services.
Chinese President Xi Jinping used the 18th BRICS Summit to argue that countries should pursue development paths suited to their own national conditions, a message that overlapped with the summit’s broader emphasis on policy autonomy, inclusive growth and reform of global institutions.
Addressing the first leaders’ session on September 12, Xi marked 20 years of BRICS cooperation and said members had strengthened themselves through unity while preserving independence in choosing their economic and social models. He described BRICS as an increasingly important platform for emerging markets and developing countries.
The summit’s New Delhi Declaration gave that theme wider institutional form. Leaders called for a more representative international order, greater participation by developing countries in global decision-making and reforms to institutions including the United Nations, World Trade Organization and international financial architecture.
The declaration also reflected the diversity within the expanded grouping. Rather than prescribing a single model of development, BRICS leaders stressed national circumstances, differing capacities and the need for policy space, particularly in areas such as energy transition, industrialisation and climate action. That approach broadly matched Xi’s argument that development strategies should reflect domestic conditions rather than external templates.
Xi sought to extend the idea into technology policy. He proposed an initiative on artificial intelligence-enabled industrialisation, deeper cooperation in research and applications, and stronger industrial and supply-chain links. China also promoted open-source AI collaboration and international platforms intended to improve access to emerging technologies for developing economies.
Other leaders framed similar priorities through their own national perspectives. Prime Minister Narendra Modi emphasised resilience, innovation, cooperation and sustainability, the four themes of India’s 2026 BRICS chairship, and called for solutions developed within the grouping to serve a wider range of developing countries. He also urged members to translate summit commitments into practical programmes.
BRICS members agreed on measures spanning digital cooperation, food and energy security, health, trade facilitation and the use of local currencies in cross-border transactions. The declaration supported stronger payment connectivity while stopping short of endorsing a common BRICS currency.
The economic agenda also underlined the practical test facing the grouping. Members backed use of national currencies in trade and investment, stronger cooperation through the New Development Bank and efforts to improve financial resilience. Such measures are intended to widen financing options for developing economies without committing members to a single monetary framework or common currency.
The expanded bloc now brings together countries with sharply different political systems, strategic alignments and economic structures. That breadth gives BRICS a larger claim to represent developing-country concerns, but it also limits how far members can converge on detailed policy prescriptions. Analysts have noted differences over whether the group should remain primarily an economic and development forum or assume a stronger geopolitical role.
Those tensions were visible alongside the development agenda. Leaders opposed protectionism and unilateral economic measures, supported a stronger multilateral trading system and called for reforms that would increase the voice of developing countries. At the same time, members avoided turning the summit into a unified ideological platform, relying instead on consensus language broad enough to accommodate competing interests.
Xi’s second summit intervention on September 13 placed a “people-centred” development philosophy within a wider call for Global South cooperation. He urged progress on the UN Sustainable Development Goals, improvements to global climate governance and a consensus-based framework for governing artificial intelligence.
China’s approach also carries strategic implications. Beijing has increasingly used BRICS and other multilateral forums to promote its views on development, sovereignty and global governance. Some members share its criticism of unequal representation in international institutions, while others remain cautious about allowing BRICS to become identified with any single country’s geopolitical agenda.
EPFO announced the channel through its official account on X, sharing a direct joining link and QR code. The channel had more than 83,000 followers by Tuesday, reflecting early uptake among members seeking alerts on schemes, procedures, service changes and public notices.
The new channel, however, should not be confused with a transactional WhatsApp service. EPFO’s own digital platforms show that personal services such as checking an individual provident fund balance, viewing a passbook, filing claims or tracking claim status continue to be provided through authorised channels including the Member Passbook portal, Unified Member Portal and the UMANG application. The WhatsApp channel is designed primarily to broadcast information rather than display confidential account data.
That distinction is important because some descriptions circulating online have suggested that members can directly check balances or access account-specific information through the new channel. EPFO’s published service framework does not support that interpretation. The organisation separately offers balance enquiries by missed call and SMS for eligible members whose Universal Account Number, or UAN, is linked to the required records.
Members registered on the UAN portal can obtain their last contribution and provident fund balance by giving a missed call to 9966044425 from the mobile number registered with EPFO, provided the UAN is linked with at least one prescribed know-your-customer detail such as a bank account, Aadhaar or PAN. EPFO’s passbook portal also lists an SMS option using the format “EPFOHO UAN” with the relevant language code sent to 7738299899.
For a fuller range of services, EPFO directs members to UMANG. Official guidance lists facilities there including viewing the passbook, filing online claims, tracking claims, activating or obtaining a UAN, submitting Jeevan Pramaan and downloading a Pension Payment Order. The Unified Member Portal provides additional account and member functions after authentication.
The WhatsApp channel therefore expands EPFO’s communications reach rather than replacing those existing systems. Followers can receive official notices on a platform already used by millions of people for everyday messaging, potentially reducing dependence on users repeatedly checking websites or social media accounts for updates.
EPFO has increasingly used multiple digital channels to communicate with members and employers, including its website, X, YouTube, Instagram, Facebook and LinkedIn. Its employer portal currently directs users to those official accounts for news and updates, while its member-facing portals continue to handle authenticated services.
Members can follow a WhatsApp channel without exposing their phone number to other followers, but that privacy feature does not turn the channel into an authenticated account interface. Balance checks, claims and passbook access still require EPFO’s designated systems, where identity and account credentials are handled through verification processes.
The expansion also comes with a need for caution over impersonation and fraud. EPFO repeatedly warns members not to disclose Aadhaar numbers, PAN details, bank information, passwords, UAN credentials or one-time passwords in response to calls, messages, WhatsApp contacts or social media approaches. Its anti-fraud portal states that EPFO staff do not seek such personal or financial details through these channels.
Members joining the WhatsApp channel should therefore verify that they are using the link or QR code shared through EPFO’s official communication channels. A WhatsApp broadcast channel does not require users to send credentials to receive public updates, and any request for sensitive account information should be treated with suspicion.
For members who only want to stay informed about policy changes, deadlines, service interruptions or procedural guidance, the channel provides a convenient additional source. Those seeking personal account details must still use the authenticated EPFO systems or designated balance-enquiry services.
Eight major US banking trade groups have urged Senate leaders to tighten the CLARITY Act’s restrictions on stablecoin rewards, warning that a new regulatory “circuit breaker” would take effect only after damaging deposit outflows had already occurred. The warning came in a joint letter sent on Monday to Senate Majority Leader John Thune and Democratic Leader Chuck Schumer ahead of a procedural vote scheduled for Tuesday, September […]
Swiss Bitcoin Pay has taken its servers offline after detecting what it described as likely unauthorised access to internal systems, while warning that customer contact, banking and transaction data may have been exposed. The Switzerland-based Bitcoin payments provider disclosed the incident on September 14 and said it was investigating the intrusion and securing its infrastructure before restoring service. It has not announced a date for reopening. Swiss […]
