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Crypto Companies Fined $5.8 Billion In 2023, TradFi Less Than $900 Million
10.1.2024
Source: Pixabay Crypto companies received more fines for poor money controls than traditional financial firms for the first time ever in 2023, according to data compiled by the Financial Times. In fact, the penalties were hardly comparable. Whereas crypto companies lost $5.8 billion for inadequate...
FINRA Action: Interactive Brokers hit with $3.5M fine for price violations
29.12.2023
FINRA, an acronym for Financial Industry Regulatory Authority, works for investors and firms, enabling them to participate in trading practices safely. In order to regulate member brokerage firms and exchange markets, FINRA has the support of technology and expertise. Interactive Brokers is...
Advisors May Drive Bitcoin ETF Flows in USA + More News
18.12.2023
Source: AdobeStock / Backcountry Media Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news. In this edition: Advisors May Drive Bitcoin ETF Flows, Says Needham US OFAC Fines Crypto Exchange $1.2M for Russia...
Exclusive: Micapass CEO Gintarė Košubienė Discusses AML Compliance Shift in Crypto Post-Binance Fine
14.12.2023
The cryptocurrency industry is on the brink of a transformative shift in Anti-Money Laundering (AML) compliance, a change propelled by the recent landmark fine imposed on Binance and its CEO, Changpeng Zhao. The recent anti-money laundering case involving Binance and its former CEO, Changpeng Zhao...
Tax Crackdown: UK Authorities Target Crypto Users for Unpaid Taxes
29.11.2023
Image Source: Pixabay The UK national taxing authority has asked crypto users to disclose any unpaid taxes they might have in order to avoid fines. In a Wednesday announcement, HM Revenue and Customs (HMRC) asked crypto users to make a “voluntary disclosure of any unpaid tax” relating...
Kraken co-founder hails ‘more fair’ playing field as DOJ fines Binance
23.11.2023
Jesse Powell sees CZ’s and Binance’s legal proceedings as a positive change, as “going after the most egregious offenders offshore would require effort.”
Coinbase CEO Sees Binance Settlement as Chance for Industry Renewal
22.11.2023
Source: AdobeStock / photo_gonzo Coinbase CEO, Brian Armstrong says the Binance settlement is a chance for the industry to prioritize compliance and rule clarity to prevent regulators from slamming huge fines on companies. Armstrong wrote on X (Twitter) shortly after Binance’s settlement with...
New Binance CEO Says Exchange Has “Robust Revenues and Profits,” Hinting at Ability to Pay $4.3B Fines
22.11.2023
Image Source: Bloomberg New Binance CEO Richard Teng has hinted at the exchange’s ability to pay the $4.3 billion it has been fined by the US Justice Department. Teng, who was named CEO of Binance on Tuesday after Changpeng Zhao stepped down, said in a recent post on X (formerly Twitter)...
Head of Dubai’s Digital Asset Regulator Steps Down – What’s Going On?
16.11.2023
Image Source: Pixabay The head of Dubai’s cryptocurrency regulator, Henson Orser has left the role to pursue new interests amid looming domestic fines on digital asset companies for a breach of rules. According to a Bloomberg report Orser, who was the head of the Virtual Assets Regulatory Authority...
Head of Dubai Crypto Regulator to Quit to 'Pursue Other Interests'
16.11.2023
Henson Orser, the CEO of VARA, Dubai's crypto regulator, is set to leave the job and will be replaced by a partner at PwC
SEC’s FY 2023 Enforcement Actions Yield $5 Billion in Fines from Wall Street and Crypto Giants
15.11.2023
Source: Adobe/Kristina Blokhin The US Securities and Exchange Commission (SEC) has announced that its enforcement actions in fiscal year 2023 resulted in nearly $5 billion in fines and reimbursements to investors. In a Tuesday press release, the agency said it has targeted Wall Street brokerages...
Report: Cyprus Mulls Imposing Hefty Fines on Unregistered Crypto Service Providers
12.10.2023
Crypto firms that operate in Cyprus without registration may soon be fined as much as $350,000 while individuals behind such firms could face up to five years in jail. The Finance Ministry says its proposals, which are included in a draft recently submitted to parliament, seek to align...
Ethereum DeFi Protocol BarnBridge Faces SEC Action and Fines, Opens Token-Holder Voting
12.10.2023
Decentralized finance (DeFi) lending project BarnBridge has announced a token-holder voting to tackle the legal charges that the project is facing from the US Securities and Exchange Commission (SEC), along with fines.
BarnBridge confirmed in July that is it facing a probe from the US regulators...
DeFi Protocol BarnBridge Prepares for SEC Action, Fines
11.10.2023
The decentralized autonomous organization is holding a vote on how to respond to securities regulators
Today in Crypto: Fines and Prison for Unregistered Crypto Firms in Cyprus, OrdinalsBot Raise $1 Million, Zimbabwe Gold is Now a Payment Method
10.10.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: Fines and Prison for Unregistered Crypto Firms in Cyprus, OrdinalsBot Raise $1 Million, Zimbabwe Gold...
SEC Fines Stoner Cats NFTs Creator $1 Million for Securities Violation
14.9.2023
The company behind Stoner Cats non-fungible tokens (NFTs) has to pay a $1 million fine and destroy all its NFTs per a settlement with the US Securities and Exchange Commission (SEC).
According to the Wednesday press release, the SEC charged Stoner Cats 2 LLC (SC2) with conducting an unregistered...
CFTC fines Mirror Trading $1.7B for Bitcoin-related forex fraud
8.9.2023
The CFTC has brought or resolved ten fraud cases involving digital assets or forex since June 2023, Commissioner Kristin Johnson said
Dubai Fines Co-Founders of Failed Three Arrows Capital Over New Exchange OPNX
16.8.2023
Dubai’s Virtual Assets Regulatory Authority (VARA) has slapped failed 3AC co-founders with a massive $2.7 million fine against their new crypto project OPNX.
Crypto exchange OPNX, co-founded by Kyle Davies and Su Zhu who established the now-defunct hedge fund Three Arrows Capital (3AC),...
Report: Brazilian Court Fines Mastermind of South African Bitcoin Ponzi Scheme
16.8.2023
A court in Brazil has found Johann Steynberg, the mastermind of the bitcoin ponzi scheme Mirror Trading International (MTI), guilty in a case in which he is accused of using a forged identity document. The court, however, commuted Steynberg’s three-and-a-half-year sentence to a fine of just...
Former NYSE Broker to Pay $54M to Settle CFTC Crypto Fraud Charges
28.6.2023
Michael Ackerman pleaded guilty in 2021 to charges of defrauding around 150 investors for $33 million in a digital asset trading scheme