Bertelsmann-owned Riverty starts operating as a licensed Luxembourg bank in July 2026, days after Klarna filed for a US charter. The pattern is not a coincidence.
The GENIUS Act's July 18 rulemaking deadline passed with Treasury's foreign-issuer comparability regime unfinished — and no determination covering $189bn of USDT.
UK BNPL regulation began July 15, 2026. How the FCA regime compares with CCD2, Australia's licence rules and the US state patchwork - and what firms must do.