ChainCatcher news, according to Reuters, two major tech trade groups, NetChoice and TechNet, have filed a lawsuit against the U.S. Consumer Financial Protection Bureau (CFPB) in an attempt to block the implementation of a new regulation targeting large non-bank payment applications and digital wallets. This rule applies to companies with an annual transaction volume of at least 50 million, covering products like Apple Wallet, Google Pay, and Venmo.The lawsuit claims that the CFPB has failed to demonstrate that this rule addresses specific consumer risks, accusing it of "illegal overreach," which could stifle innovation, reduce competition, and increase costs. It remains unclear whether the incoming Trump administration or the Republican-controlled Congress will attempt to amend or repeal the rule.

ChainCatcher news, the cryptocurrency payment application Strike, built on the Bitcoin Lightning Network, announced that it is providing U.S. users with the ability to make payments to three African countries: Nigeria, Kenya, and Ghana through its "Send Globally" feature. This new functionality is supported by a partnership with the African payment platform Bitnob. With the collaboration of the two companies, remittances to Africa are expected to be realized quickly, and the cost of remittances is also expected to decrease. (Source link)