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FTX lawsuits see crypto firms, influencers dial back endorsement deals
5.6.2023
Some crypto influencers have been giving lucrative endorsement offers a hard pass after seeing what could happen if things end badly for the firm
US Consumer Protection Agency Issues Warning on Payment Apps Following Collapses of Crypto Firms, Banks
2.6.2023
The US Consumer Financial Protection Bureau issued a warning on Thursday for people using person-to-person services to store funds, reminding them that they are not federally insured, in the wake of FTX and multiple bank collapses.
Transaction volumes on payment apps have “substantially...
Georgian central bank to launch AML probe into crypto firms
1.6.2023
The National Bank of Georgia will launch mandatory supervision of virtual asset service providers starting from Sept. 1, 2023
Crypto firms jockey for Hong Kong licenses ahead of June 1 retail opening
30.5.2023
Hong Kong’s retail trading regime is days away from going live and crypto exchanges are keen to make entry into the region
Gemini and Genesis Fight Back Against SEC Lawsuit, Seek Dismissal of Allegations
29.5.2023
Gemini Trust Company and Genesis Global Capital filed a court document on May 26, 2023, seeking the dismissal of a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). The regulatory body had accused the two crypto firms of offering unregistered securities. Gemini and Genesis...
EU regulator urges crypto firms to disclose regulatory status of products
26.5.2023
ESMA reminded investment firms that crypto will remain unregulated in most jurisdictions despite the upcoming adoption of regulations
UAE’s Clear Rules and Openness to ‘Experimentation’ Key to Attracting Crypto Firms, Says Ben Caselin of Maskex
26.5.2023
Players in the crypto space are attracted to the United Arab Emirates (UAE) because the region not only has clear rules but is also “open to experimentation,” Ben Caselin, the Vice President and Chief Strategy Officer (CSO) at the crypto exchange Maskex, has said. Caselin also said...
South Africa’s Crypto Firms Will Soon Need to Apply for Registration or Face a Heavy Fine
25.5.2023
Continuing operations without applying for registration could lead to a $542,854 fine or imprisonment
XRP Price Prediction as Ripple CEO Says Crypto Firms May Leave US Amid Confusing Rules – Here's the Latest
19.5.2023
The XRP price has risen by 3.5% in the past 24 hours, with its climb to $0.463353 representing an 8% gain in the last seven days.
Its current price means it has dropped by 11% in a month but increased by 36% since the beginning of the year, with this appreciation coming as the market awaits...
Report: Well Known Crypto Firms Still Not Adhering to Basic Governance Standards
18.5.2023
Many of the most well-known crypto firms are not adhering to basic governance standards, the findings of a Bloomberg survey have shown. Only 31 out of the 60 polled firms “currently procure a full financial audit or reserve attestations from an independent auditor.” Industry...
There's a growing case for allowing crypto firms to bypass banks
18.5.2023
Making the European Central Bank accessible to payment companies other than traditional banks would allow users to redeem their stablecoins directly for cash
Fleeing U.S. Crypto Firms ‘Welcome,’ French Regulator Says
17.5.2023
100-odd companies could be registered in France as the just-agreed MiCA EU crypto legislation beds in, Financial Markets Authority officials said
US Crypto Firms Migrate to Bermuda Amid Regulatory Concerns
15.5.2023
Crypto companies are increasingly turning away from the US in search of clear digital asset regulations, and some of the major companies are finding a home in Bermuda. Still, some experts warn that this may be a short-term solution as the issues in the land of the free are not getting...
80% Drop in No. of Licensed Estonian Crypto Firms – What’s Caused the Fall?
12.5.2023
There has been an 80% drop in the number of registered crypto firms operating in Estonia, official data has revealed.
Per a release from the government-run Anti-Money Laundering Data Bureau, 389 firms have either had their operating licenses revoked or have asked for their permits to be withdrawn...
McHenry to U.S. SEC: Which Crypto Firms Have Tried to Register?
11.5.2023
The U.S. Securities and Exchange Commission (SEC) has so far disregarded congressional requests for information on its interactions with crypto platforms seeking registration as exchanges, according to Republican lawmakers in the House of Representatives, who threatened a hearing if they’re ignored...
Nearly 400 Crypto Firms Lose Their Estonian Licenses Under New Rules
11.5.2023
The majority of crypto companies attracted by the once favorable Estonian regulations have either abandoned or lost their licenses. According to the latest numbers released by the Baltic nation’s anti-money laundering bureau, only 100 businesses are currently authorized to provide digital-asset...
Hong Kong to Have Tight Crypto Regulations, Head of Monetary Authority Says
10.5.2023
Companies attracted by the plan to turn Hong Kong into a hub for digital assets should expect strict regulations, the region has indicated. Authorities are preparing new licensing rules for service providers working with cryptocurrencies and guidelines for banks interacting with crypto firms....
SEC Blasted on Custody Proposal by JPMorgan, Crypto Firms and a Fellow Agency
9.5.2023
The U.S. Securities and Exchange Commission (SEC) went too far when it proposed a new rule demanding investment firms safeguard all of their clients’ assets – including crypto – with approved custodians, according to an array of critics not often in alignment. The proposal drew loud objections from...
Brazil Central Bank CBDC Pilot Snubs Crypto Firms
9.5.2023
The Central Bank of Brazil has effectively blocked crypto firms from taking part in its central bank digital currency (CBDC) pilot.
The bank this month issued a call for interested firms to join the next phase of its pilot.
But while the bank did not explicitly rule out the participation...
Estonia squeezes out 400 crypto firms after new laws
9.5.2023
Estonia’s money laundering regulator highlighted a number of issues it found within local crypto firms, such as dodgy execs and nonsensical business plans