New York exit: Didi bows to regulatory pressure for U.S. delisting

New York exit: Didi bows to regulatory pressure for U.S. delisting

HONG KONG, Dec 3 (Reuters) – Just five months after its debut, ride-hailing giant Didi Global (DIDI.N) said it plans to withdraw from the New York stock exchange and pursue a Hong Kong listing, a stunning volte-face as it bends to Chinese regulators angered by its U.S. IPO.Its shares plunged 9% in premarket trading, after … Read more

Money Transmitter Model Law Poised to Change Regulatory Landscape | Wilson Sonsini Goodrich & Rosati

Money Transmitter Model Law Poised to Change Regulatory Landscape | Wilson Sonsini Goodrich & Rosati

The Conference of State Bank Supervisors (CSBS) released its Money Transmission Modernization Act (Money Transmitter Model Law) (Model Law) to create a single money transmitter regulatory regime across the country and “streamline regulation for an evolving payments space.” As it currently stands, 49 states and Washington, D.C. regulate money transmitters and have their own sets … Read more