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ASIC Initiates Civil Proceedings Against Bit Trade for Alleged Compliance Failures
21.9.2023
Australia's regulatory body, the Australian Securities and Investments Commission (ASIC), has initiated legal proceedings against Bit Trade Pty Ltd, the provider of the Kraken cryptocurrency exchange for Australian users, for breaching design and distribution obligations related to its margin...
ASIC Initiates Civil Proceedings Against Bit Trade for Alleged Compliance Failures
21.9.2023
Australia's regulatory body, the Australian Securities and Investments Commission (ASIC), has initiated legal proceedings against Bit Trade Pty Ltd, the provider of the Kraken cryptocurrency exchange for Australian users, for breaching design and distribution obligations related to its margin...
Exclusive: OKX Crypto Exchange Targets 'Tech-Savvy' India, But Regulatory Compliance Comes First, Says Global CMO Haider Rafique
8.9.2023
In an exclusive interview with CryptoNews, OKX Global Chief Marketing Officer, Haider Rafique, expressed the company’s vision to target India's “tech-savy” market.
OKX, one of the largest crypto exchanges in terms of trading volume, currently does not offer any centralized finance products...
UK financial watchdog could give crypto firms until January 2024 for marketing compliance
7.9.2023
Companies offering crypto services to U.K. residents have an Oct. 8 deadline to run “clear, fair and not misleading” marketing campaigns, but some could have until Jan. 8
US Lawmaker Contradicts SEC Chair — Says Crypto Industry Not ‘Rife With Noncompliance’
4.9.2023
A U.S. congressman has defended the crypto industry against Securities and Exchange Commission (SEC) Chairman Gary Gensler, who stated that it is rife with noncompliance. The lawmaker’s statement followed a pair of legal cases in which the judges sided with cryptocurrency firms over...
Google updates service policies to comply with EU regulations
28.8.2023
Google and other major platforms on the web will need to update their service policies in order to comply with EU standards in its Digital Services Act by Aug. 28
Oman's Multi-Million Crypto Investments Trigger Sharia Compliance Discussion
28.8.2023
The Sultanate of Oman is continuing its push into the world of cryptocurrency with a series of multi-million-dollar investments.
The country, located on the southeastern coast of the Arabian Peninsula, aims to establish itself as a digital hub in a highly competitive region.
The government...
Founders of Crypto Mixer Tornado Cash Accused of Laundering $1 Billion
24.8.2023
The founders of the cryptocurrency mixing service Tornado Cash were charged Thursday with allegedly helping to launder more than $1 billion in digital currency, including funds taken by North Korean hackers. Department of Justice: ‘You Can’t Hide From Us Behind a Keyboard — Whether You’re a Hacker...
Sam Bankman-Fried Claims He Relied on Legal Advice in FTX Scandal
24.8.2023
Lawyers for Sam Bankman-Fried claim the FTX founder, who has fallen from grace, based his business decisions on legal advice from company attorneys before the cryptocurrency exchange’s downfall. FTX Founder Bankman-Fried Claims Actions Were Based on Legal Advice, Denies Fraudulent Intent In...
Coinbase Acquires Equity Stake in Circle; Companies Reshape USDC’s Future
22.8.2023
In a joint statement, Jeremy Allaire, CEO of Circle, and Brian Armstrong, CEO of Coinbase, announced the dissolution of the Centre Consortium. Consequently, Circle will take exclusive charge of the issuance and governance of USDC. Additionally, Coinbase has acquired an equity stake in Circle while...
UK Regulator: Crypto Asset Businesses Expected to Comply with the Travel Rule Starting in September
19.8.2023
According to the United Kingdom’s Financial Conduct Authority, crypto asset firms operating in the country will be required to comply with the Financial Action Task Force’s travel rule starting on Sept. 1, 2023. Crypto asset businesses will be required to take “all reasonable...
Paypal Pauses UK Crypto Purchases Amid Regulatory Changes; Assures Resumption in Early 2024
16.8.2023
In recent communications to its U.K. clientele, Paypal has announced a temporary suspension of cryptocurrency purchases starting October 1, 2023, with plans to resume in early 2024. Notably, even amidst this hiatus, users can continue to hold their crypto within the Paypal ecosystem and are free...
Binance Japan to Use KYC Services From Liquid
13.8.2023
The world’s leading cryptocurrency exchange, Binance, has selected Liquid as an identity verification partner for its Japanese platform. The services of the Tokyo-headquartered biometrics firm will allow Binance Japan to ensure its know-your-customer (KYC) procedures comply with Japan’s strict...
Spot Bitcoin ETF Applications Face More Delays
11.8.2023
The U.S. Securities and Exchange Commission (SEC) on Friday asked for additional public feedback on a proposal to list a spot bitcoin exchange-traded fund (ETF), likely delaying any decision on the high-profile applications. SEC Seeks Public Opinion on Spot Bitcoin ETF The SEC put out a 34-page...
Binance applies for Taiwan AML compliance: Report
11.8.2023
The world's leading crypto exchange by trading volume has reportedly applied to register in Taiwan under the new AML compliance
Binance applies for Taiwan AML compliance: Report
11.8.2023
The world’s leading crypto exchange by trading volume has reportedly applied to register in Taiwan under the new AML compliance
SEC’s Crypto Compliance by Enforcement Push Continues as Bittrex Hit With $24 Million Fine
10.8.2023
The US Securities and Exchange Commission (SEC)’s push to force the crypto industry into “regulatory compliance” via enforcement action continues, with bankrupt crypto exchange Bittrex the latest to fall foul of the agency.
Bittrex just agreed to pay a $24 million fine to the SEC, after the agency...
CEO of World's Largest Bitcoin ATM Operator Sees Industry Ripe for Consolidation
10.8.2023
Brandon Mintz, CEO and founder of Bitcoin Depot, the world’s largest bitcoin ATM company, says his company, which currently has about 20% market share, is in a position to gobble up competitors
Bitstamp Delists AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL for US Customers
9.8.2023
Trading will soon be halted for several popular cryptocurrencies on the Bitstamp exchange for users in the United States. Starting August 29, 2023, the exchange will suspend trading for AXS, CHZ, MANA, MATIC, NEAR, SAND and SOL for U.S. customers, canceling all existing orders for those assets....
House Financial Services Committee Advances Clarity for Payment Stablecoins Act
9.8.2023
On July 27, 2023, The U.S. House Financial Services Committee advanced a stablecoin-focused bill for the first time. The Clarity for Payment Stablecoins Act of 2023 would establish a federal regulatory framework for stablecoins with the U.S. Federal Reserve playing a pivotal role. The bill would...