Four-hour briefing
Fintech Briefing —
What changed in fintech over the last 4 hours
Pulse: Digital asset regulation and institutional prime brokerage lead alongside cooling consumer credit expansion.
Top Stories
- CFTC Proposes Registration Rules for Retail Crypto Derivatives
CFTC Chair Mike Selig announced new regulatory rulemaking aimed at preventing collapses like FTX. The proposed framework introduces a federal registration category for crypto exchanges offering leveraged or financed trading to retail customers.
Why it matters: The proposed rules would establish federal oversight and fund segregation requirements for crypto exchanges offering leverage, reshaping how digital asset trading platforms operate in the United States.
- US Consumer Credit Growth Decelerates to 1.9%
Federal Reserve data revealed that consumer credit expanded at an annualized rate of 1.9% in August, slowing sharply from July's 4.1% pace to mark the lowest level since May.
Why it matters: Consumer credit originators and fintech lenders face slowing borrowing volumes, requiring adjustments to underwriting standards and growth projections.
- Brevan Howard Selects Ripple Prime for Multi-Asset Brokerage
Brevan Howard has selected Ripple Prime to provide multi-asset prime brokerage, clearing, and financing services across traditional and digital markets for funds managed by the $35 billion asset manager.
Why it matters: The mandate gives Ripple Prime a major institutional client, moving Brevan Howard from a strategic investor into an active user of its multi-asset clearing and prime brokerage infrastructure.
Since the last briefing
- · 3 new major stories
- · 1 new regulatory development
Sources
Bitcoin Magazine, PYMNTS, FinanceFeeds