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CryptoCurrency

Binance Dodges Regulatory Bullet in Belgium, Redirects Users to Poland

  • FSMA said customers can only be transferred if they consent.
  • Binance recently quit the Netherlands, transferring its Dutch clients to a local rival.
Monday, 28/08/2023 | 17:37 GMT by Solomon Oladipupo
CryptoCurrency

Navigating Change: South Korea's Crypto Exchanges Brace for New Reserve Requirement

  • Crypto exchanges in the country must have a minimum reserve of 3 billion KRW from September.
  • The reserves are intended to safeguard users in case of hacks and exploits.
Monday, 28/08/2023 | 15:27 GMT by Jared Kirui
CryptoCurrency

US Wants “Brokers” to Oversee Taxpayers’ Crypto Reporting Process

  • The Treasury Department says the rule will help to fight tax evasion.
  • However, the rules have drawn criticism from both politicians and industry actors.
Friday, 25/08/2023 | 21:57 GMT by Solomon Oladipupo
CryptoCurrency

Binance Allegedly Used Sanctioned Banks for P2P Crypto Transfers in Russia

  • The exchange has denied the report.
  • It quietly lifted restrictions on Russians, according to an earlier report.
Tuesday, 22/08/2023 | 20:38 GMT by Solomon Oladipupo
CryptoCurrency

FTX Updates Settlement Terms for 'Small Estate Claims' after US Trustee's Disapproval

  • The exchange criticized the US Trustee for objecting to the settlement.
  • Meanwhile, FTX and Genesis recently agreed to a payment of $175 million to resolve their dispute.
Monday, 21/08/2023 | 13:35 GMT by Solomon Oladipupo
CryptoCurrency

Gemini Fires Back: Challenges SEC’s 'Inconsistent' Claims in Lawsuit

  • The crypto exchange argues that the SEC failed to clearly identify its claims.
  • Gemini has also highlighted the SEC’s shifting argument in the reply memorandum.
Monday, 21/08/2023 | 08:10 GMT by Jared Kirui
CryptoCurrency

SEC Gets Judge’s Nod to Argue for Appeal against Landmark Ripple Ruling

  • Ripple secured a 'partial victory' against the SEC in mid-July.
  • However, the SEC believes the case deserves an “interlocutory review.”
Thursday, 17/08/2023 | 22:09 GMT by Solomon Oladipupo
CryptoCurrency

Bankrupt BlockFi Gets Court’s Backing, Enables Withdrawal for US Customers

  • The firm looks forward to permitting withdrawal for international clients.
  • BlockFi had exposure of $1.2 billion to FTX and Alameda Research.
Thursday, 17/08/2023 | 19:27 GMT by Solomon Oladipupo
CryptoCurrency

FTX Softens $4B Demand, Strikes $175M Settlement with Genesis

  • Both parties reached the agreement 'in principle' on or around July 20.
  • Genesis raised over $350M in customer, avoidance and loan claims against FTX.
Thursday, 17/08/2023 | 16:04 GMT by Solomon Oladipupo
CryptoCurrency

Binance.US Fights Back: Motion for Protective Order Referred to Magistrate Judge

  • The crypto exchange is seeking a protective order against the SEC's 'fishing expedition'.
  • The regulator is demanding custody information from Binance.US.
Thursday, 17/08/2023 | 10:12 GMT by Jared Kirui
CryptoCurrency

Binance Irked by SEC’s Move to Query CEO of US Affiliate

  • BAM's CEO and CFO do not have 'unique firsthand knowledge' about customer assets.
  • In other news, the SEC delayed a decision on ARK Invest's spot BTC application.
Tuesday, 15/08/2023 | 14:19 GMT by Solomon Oladipupo
CryptoCurrency

Coinbase Takes On SEC: Launches Lobbying Initiative to Protect Industry amid Lawsuit

  • 'Stand with Crypto Alliance' aims to address crypto regulations in the US.
  • The initiative followed a lawsuit by the SEC against Coinbase.
Tuesday, 15/08/2023 | 10:02 GMT by Jared Kirui
CryptoCurrency

300 Crypto Firms Jostled; Only 13% Clear UK FCA's Registration Hurdle

  • The British watchdog refused five applications and rejected 22.
  • FCA's rules on advertising digital assets will come into force on October 8, 2023.
Monday, 14/08/2023 | 14:14 GMT by Solomon Oladipupo
CryptoCurrency

Sam Bankman-Fried Lands in Jail Ahead of Criminal Trial

  • The FTX Founder was accused of witness tampering by federal prosecutors.
  • The embattled entrepreneur is also facing a $1 billion lawsuit from the FTX estate.
Friday, 11/08/2023 | 21:31 GMT by Solomon Oladipupo
CryptoCurrency

Troubled Crypto Custodian Prime Trust Might Cut 75% of Jobs: Report

  • A court in Nevada recently placed the firm under receivership.
  • The firm cut a third of its workforce in January, according to CoinDesk.
Friday, 11/08/2023 | 18:55 GMT by Solomon Oladipupo
CryptoCurrency

Digital Currency Group Seeks Dismissal of Gemini’s Fraud Allegation

  • The conglomerate has denounced the exchange's claims as a 'public relations campaign'.
  • DCG claims the lawsuit brought by Gemini lacks sufficient evidence.
Thursday, 10/08/2023 | 18:21 GMT by Jared Kirui
CryptoCurrency

SEC Moves to Overturn Ripple Lab’s Landmark Court Victory

  • The regulator has written to the judge seeking to appeal the ruling.
  • In July, the court ruled on whether XRP is a security in favor of Ripple.
Thursday, 10/08/2023 | 08:00 GMT by Jared Kirui
CryptoCurrency

Exclusive: Vanuatu Regulator Brings Brokers to The "Shore". In Person.

  • Industry stakeholders met for the first time in the jurisdiction where licensees rarely step foot on.
  • Vanuatu's Class D license that covers virtual assets creates a sense of anticipation among industry participants.
Monday, 07/08/2023 | 10:01 GMT by Nicolas Ritoux
CryptoCurrency

Revolut Pulls the Plug on Crypto in US, Citing Regulatory Environment

  • Revolut initially gave users until September 18 to sell their ADA, MATIC and SOL holdings.
  • The firm continues to expand its offerings despite challenges.
Friday, 04/08/2023 | 13:09 GMT by Solomon Oladipupo
CryptoCurrency

Coinbase Plans to File Motion Challenging SEC Lawsuit

  • The exchange maintains that it did not list unregistered securities.
  • The regulator sued Coinbase in June.
Friday, 04/08/2023 | 08:50 GMT by Jared Kirui
CryptoCurrency

Kenya Says Registration of Sam Altman’s Worldcoin in April Not Endorsement

  • Worldcoin is not a legal entity in the country, ministries said in a statement.
  • However, a minister said Worldcoin was acting within the law but raised security concerns.
Thursday, 03/08/2023 | 21:53 GMT by Solomon Oladipupo
CryptoCurrency

DOJ Weighs Fraud Charges against Binance, Worried about Bank Run: Report

  • US prosecutors are contemplating alternative options such as fine payment.
  • The SEC and CFTC filed charges against the exchange in recent months.
Wednesday, 02/08/2023 | 18:02 GMT by Solomon Oladipupo
Exchanges

SEC ‘Weaponized’ XRP Quarterly Reports in Lawsuit, Ripple Says

  • The CEO, Brad Garlinghouse said Ripple might consider making changes to the reports.
  • Ripple addressed certain 'misconceptions' about the recent ruling on the case with the SEC.
Wednesday, 02/08/2023 | 13:50 GMT by Solomon Oladipupo
CryptoCurrency

World Federation of Exchanges Asks IOSCO to Tackle Conflict of Interest in CeFi

  • IOSCO ended the consultation on its crypto policy recommendations in July.
  • The SEC recently accused Binance and Coinbase of operating multiple unauthorized businesses.
Tuesday, 01/08/2023 | 14:44 GMT by Solomon Oladipupo
CryptoCurrency

SEC Alleges Hex Founder Richard Heart Illegally Raised $1B, Misappropriated $12M

  • Richard Heart and his companies allegedly embezzled $12M of investor funds.
  • The SEC recently dragged Binance and Coinbase to court, claiming illegal operations.
Monday, 31/07/2023 | 18:22 GMT by Solomon Oladipupo
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