Four-hour briefing
Fintech Briefing —
What changed in fintech over the last 4 hours
Top Stories
- UK FCA Launches Authorisation Gateway for Crypto Firms
The Financial Conduct Authority has opened applications for crypto firms under a new comprehensive regulatory regime that takes effect on October 25, 2027. Operating firms must submit applications by February 28, 2027, meeting standards for asset safeguarding, market integrity, and financial resilience.
- Community Bankers Sue OCC Over Crypto Trust Charters
The Independent Community Bankers of America filed a lawsuit against the OCC, claiming the agency overstepped its authority by issuing national trust bank charters to crypto companies. The suit seeks to overturn the conditional approval granted to Protego, alleging firms use these charters for non-fiduciary operations without normal banking obligations.
- Blast Layer-2 to Cease Operations as Operating Costs Outpace Revenue
Ethereum Layer-2 network Blast is winding down operations after total value locked dropped over 98% from $2.2 billion to roughly $31 million. Network users have until October 26 to withdraw assets via the standard user interface.
Crypto & Digital Assets
- Laundering from $387.5M Bitget Exploit Yields Over $761K in Protocol Fees
Movement of assets stolen during the Bitget breach generated upwards of $761,725 in fees across crypto protocols, according to on-chain researcher Andrey Sergeenkov. THORChain liquidity fees made up approximately $573,226 of that sum, with an additional $259,718 in affiliate fees directed to linked laundering addresses.
Sources
FCA, FinanceFeeds