News Highlights: Top Financial Services News of the Day

06/11/2021 | 12:16am
Judge Dismisses Anti-Money-Laundering Charges Against MoneyGram 

The order concludes a settlement agreement the company entered into in 2012 for failing to prevent mass-marketing and consumer-fraud phishing schemes.

Bitcoin, Other Crypto Assets Targeted for Stiff Banking Regulation 

The top global standard setter for banking regulation proposed a strict new rule that would require banks to essentially set aside a dollar in reserves for every dollar of bitcoin they own.

Chinese Police Arrest 1,100 People for Crypto Money Laundering 

The crackdown on illegal activities comes amid an effort by Chinese authorities to restrain cryptocurrency trading and mining. It follows broader efforts to guard against financial risk and reduce energy consumption in the country.

ECB to Keep Monetary Stimulus in Place 

The central bank, which upgraded its economic outlook for the eurozone, signaled a possible divergence with the Federal Reserve, which could begin discussing an eventual wind-down of its easy-money policies next week.

Stanford Ponzi Liquidators Get Nothing From TD Bank 

Toronto-Dominion Bank defeated a lawsuit that sought nearly $4.3 billion in damages over allegations the institution ignored red flags about R. Allen Stanford's financial empire before it was exposed as one of the largest-ever Ponzi schemes.

Fintech Investors Are Hitting the Marqeta 

A little-known but widely used card-payments enabler behind Square, DoorDash and others will be a major play for investors betting on digital commerce.

Robinhood and Didi to Kick Off a Hot IPO Summer 

Bankers estimate that initial public offerings could raise some $40 billion in the coming months, the most ever during a summer stretch.

Coinbase Teams Up With 401(k) Provider on Crypto 

Workers at participating companies could invest up to 5% of their account balances in cryptocurrency.

Asset Managers in Europe Look for Deals to Bulk Up 

More European asset management mergers and acquisitions have been announced so far this year than in the corresponding period in the three years prior, according to data provider Dealogic.

Ledger, a Crypto-Security Startup, Raises $380 Million 

Latest round hoists valuation of French seller of crypto hardware and software to $1.5 billion.

(END) Dow Jones Newswires

06-11-21 0015ET

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