Rick Steves
Senior Reporter, Regulation and Fintech
Rick Steves has seen business and economics through many lenses. He joined the financial services industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Steves' work has appeared in a variety of online publications including FX Street, NewsBTC, FinanceFeeds, and The Industry Spread. Rick has great interest in the dynamics of the trading industry. The never-ending clash between technology, economics, regulation, and more importantly, the people.
March 2021
Crypto Platform Bybit Shuts Down in UK Amid Crypto Ban
Crypto derivatives trading platform Bybit will end its UK operation by March 31, 2021, the firm announced in its blog.
ITI Group Hires New CEO to Target Emerging Markets
ITI Group Ltd. has appointed 30-year industry veteran Stephen Hawksworth as Group CEO to oversee the brokerage, proprietary trading, and market-making businesses.
BitGo Gets NY Crypto License in Times of Crypto Bans
Including the charter granted to BitGo NY, to date DFS has approved 28 charters and licenses for companies engaged in virtual currency business activity.
ASIC License and The New CFD Trading Rules
The ASIC license this year may come at a relatively higher price as CFD trading restrictions are about to come into effect by the end of March.
FOMO in The World of Meme
Failing to act immediately on a new investment might lead them to miss a good opportunity, they believe.
Japan to Review ESG Rules After $9.4b Fund Greenwashing
The Financial Services Agency, Japan's financial watchdog, has announced it will initiate an industry-wide review of the ESG rules.
Integral Survey: Cloud to Take Over in The Next 5 Years
Integral has conducted a survey of 94 heads of FX trading and senior FX managers which highlighted the prominent role of the cloud in the future.
StoneX and The “Nation’s Only Disabled and Woman-Owned Investment Firm”
StoneX Group has acquired a minority stake in Tigress Financial Partners.
Goldman Sachs Re-Enters Crypto Arena
Goldman Sachs is relaunching its cryptocurrency trading desk in mid-March 2021 after a three-year hiatus due to regulatory concerns.
February 2021
SEC Fights Off 15 ‘Meme Stocks’ for Questionable Trading
The regulator has recently identified nearly two dozen securities targeted for potential attempts to exploit investors through social media platforms.
Robinhood Crypto boasts 6 million new customers in 2021 as Coinbase announces IPO
The average transaction size is around $500 so far this year. About two times the average figure in 2020.
Modulus Announces Blockchain-as-a-Service for Decentralized Verification and Tracking
Modulus uses decentralized blockchain authentication to prove the origin, authenticity, and integrity of any product via immutable digital records.
Tether Market Cap Soars Despite New York Ban
Stablecoins are the cryptocurrency as they are supposedly backed by the USD in a one-to-one ratio, although Tether was just banned from NY.
Legacy Systems Don’t Come Cheap: NAB Sued for Overcharging Customers
Legacy systems are more prone to errors and reduce productivity, which may reflect in lower customer retention rates.
ASIC: Immunity for Criminals Assisting Law Enforcement
The new policy will ensure whistleblowers are provided with immunity from both civil penalty and criminal proceedings despite their wrongdoings in the past.
Also filing this week: Karthik Subramanian and Abdelaziz Fathi.