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The Australian Securities and Investments Commission has banned Glenda Rogan from practicing for 10 years due to her involvement in a crypto scam. Between March 2022 and June 2023, while serving as a financial advisor at Fincare Group and as an authorized representative of Private Wealth Pty Ltd, an Australian Financial Services (AFS) licensee, Rogan transferred at least $14.8 million of funds invested by clients, family, and friends into a cryptocurrency-based investment scam. Rogan made false statements to clients regarding the nature, risks, and liquidity of the investments, and engaged in misleading conduct to induce clients to invest.

U.S. Senators Elizabeth Warren (Democrat, Massachusetts) and Richard Blumenthal (Democrat, Connecticut) sent a letter on Wednesday to Meta CEO Mark Zuckerberg, demanding an explanation for the tech giant’s renewed pursuit of stablecoin payment plans. “When large technology companies issue or control their own private currencies, such as stablecoins, it threatens competition across the entire economic sector, erodes financial privacy, and hands over control of the U.S. money supply to dominant platforms with a history of abusing their power,” the senators wrote in the letter. Warren and Blumenthal warned that with 3.5 billion daily active users, Meta could consolidate enormous economic power and undermine market competition. The inquiry from the two Democratic senators follows a report by Fortune magazine, which stated that Meta is in discussions with cryptocurrency companies about integrating stablecoins into its platforms, including Instagram, Facebook, and WhatsApp.