Polish regulator UOKiK has initiated proceedings against PayPal; & more!
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BlockFi files for bankruptcy as FTX contagion spreads. The crypto lender filed for bankruptcy protection on Monday (Nov. 28), and said it was filing for Chapter 11 bankruptcy protection, indicating it hoped to restructure, continuing operations in the meantime. Link here
Polish regulator UOKiK has initiated proceedings against PayPal over the use of possibly prohibited contractual provisions and says the possible fine could amount to 10% of the company’s revenue. Link here
Kenya’s Asset Recovery Agency drops money laundering and fraud allegations against Nigeria’s fintech, Kora. The agency stated in its court filing that it had withdrawn its suit in its entirety. Link here
PayMongo co-founder and CEO Francis Plaza steps down to “pursue other ventures,” the company announced. Isabel Ridad, who was appointed as acting CEO after Plaza’s voluntary leave months ago, will retain her position. Link here
Open banking standards and PSD3: what you need to know, is a great report by Klarna Kosma, which provides an overview of current developments in open banking. Check it out here