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Source: SteelEye

The number of fines issued by global financial services regulators reached staggering levels in 2022, according to SteelEye’s inaugural Fine Tracker.

WhatsApp, the world's leading messaging platform, has been hit with a €5.5m ($5.9m) fine for violating the General Data Protection Regulation (GDPR) by Ireland’s Data Protection Commission (DPC). The consequences of these violations have raised concerns about the privacy and security of user data.

Coinbase will pay a $50 million penalty and invest another $50 million in its compliance programme to settle a New York State regulatory investigation into its anti-money laundering practices.

Sam Bankman-Fried, the disgraced founder of collapsed cryptocurrency exchange FTX, has been arrested in the Bahamas.

Source: FCA

The FCA has fined Metro Bank PLC £10,002,300 for breaching the Listing Rules by publishing incorrect information to investors.

The Cambridge Centre for Alternative Finance (CCAF) has launched a new digital hub designed to bring together regulators from across the globe, to collaborate and enhance their efforts to evolve financial services regulation.

The collapse of FTX, and the fact that its failures were more organisational than technological, highlights the importance of properly regulating the crypto sector, says Bank of England deputy governor Jon Cunliffe.

Source: Consensys

This afternoon at COP27, the world’s largest gathering on climate action, a group of Web3 companies convened by ConsenSys and Allinfra, joined civil society leaders and the UNFCCC Climate Innovation Hub, to announce the creation of the Ethereum Climate Platform (ECP).

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