Promising fintech startups

Share to Twitter Share to Linkedin In light of the swift ascendancy of cryptocurrency and the mass adoption of digital assets by novice investors, the Securities and Exchange Commission (SEC) announced this week that the agency will add around 20 additional positions . This is in response to the cryptocurrency market, which in the last few years has skyrocketed to more than a $2 trillion market valuation . These important roles will be based within the division responsible for protecting investors who are buying, selling and trading digital assets in crypto markets. The new hires will also be tasked with investigating cyber-related threats, ensuring adequate cybersecurity controls are in place and that SEC registrants and public companies are transparent in disclosing cybersecurity breaches. The Crypto Cops The Crypto Assets and Cyber Unit in the Division of Enforcement will escalate to around 50 dedicated positions from about 30 current white-collar … [Read more...] about The SEC Is Hiring Cryptocurrency Cops To Investigate Illicit Activities

Share to Twitter Share to Linkedin Jakob Rost, CEO and cofounder at Ayoconnect . With over a decade of experience in e-commerce, fintech and financial services in Indonesia's tech industry, I have gained valuable insights into the evolution of open banking. Open banking has gained significant traction in recent years as a transformative concept in the financial industry. The pandemic has accelerated this adoption even further, as evidenced by the increased popularity of neobanks and alternative financial services aiming to enhance the digital banking experience. According to a report by Polaris Market Research , the global open banking market size was valued at $16.14 billion in 2021 and is projected to reach $128.12 billion by 2030, growing at a CAGR of 26.8% during the forecasted period. Polaris' research also highlighted the Asia Pacific region as the one that will experience the most growth over the forecast period, a trend that I have … [Read more...] about Learning From The Evolution Of Open Banking

Share to Twitter Share to Linkedin Digital financial tools have continued to grow in popularity, with users taking a particular interest in investing and financial planning. The greater proliferation of these services is allowing people more access to wealth creation and preservation opportunities than ever before. The fundamentals of financial management have remained largely the same for a long time, with consistent, responsible practices coupled with a long-term financial plan generally yielding positive results. However, greater interest in markets, exchanges, and investment from individuals is creating a significant market for more flexible and approachable tools and services. While retail trading apps like Robinhood have been a source of media interest and some controversy, developments in this sector have continued to expand and adapt to fill the needs of increasingly sophisticated consumers. With this increase in options, finding the right tool for … [Read more...] about What Tools Can Help Your Finances In 2023

Share to Twitter Share to Linkedin The IRS rolled out a first look at this year's Dirty Dozen , and there's a new—but not surprising—entry: improper claims involving Employee Retention Credits, or ERC . Dirty Dozen The "Dirty Dozen" is an annual list of common scams taxpayers may encounter. Many of these schemes peak during tax filing season as people prepare their returns or hire someone to help with their taxes. The schemes put taxpayers and tax professionals at risk of losing money, personal information, data, and more. Ineligible ERC Claims This year, the IRS is highlighting Employee Retention Credits following what they call "blatant attempts by promoters to con ineligible people to claim the credit." The IRS specifically called out schemes from promoters who have been blasting radio and internet ads touting ERC refunds. These promotions can be based on inaccurate information related to eligibility for and computation of the credit. … [Read more...] about IRS Warns On ERC Scams As It Announces Annual Dirty Dozen