On May 9, 2019, the House Financial Services Committee voted to establish two task forces dedicated to studying technological innovations that impact the financial services arena: a FinTech Task Force and an Artificial Intelligence Task Force. The FinTech Task Force is initially set to study various issues, including fintech regulation in the domestic and international spheres, alternative data for loan underwriting, and data privacy. The Task Force on Artificial Intelligence will study how artificial intelligence affects how consumers interact with and use financial ...
The SEC recently issued an investor alert warning about crypto advisory and trading websites. The alert cautions investors to be especially wary of web-based cryptocurrency sites with any of these red flags:
- Outsized “guaranteed” investment returns.
- Complicated jargon or difficult-to-understand technologies.
- Unlicensed sellers.
- Sounds too good to be true.
- Unsolicited offers.
- Urgency to act.
…in short, the usual hallmarks of many scams.
The advisory comes on the heels of an indictment against two Nigerian citizens for wire fraud and conspiracy to commit ...
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