Search Results for "crypto firm"
FDIC Calls Out FTX US, Other Crypto Firms to Stop Misleading Users About Deposit Protection
FDIC sent letters to five crypto firms requesting them to stop making false claims about deposit insurance.
Crypto Firm Bits of Gold Obtains Capital Markets License from Israeli Regulator
Bits of Gold is the first crypto firm to receive this license, which will enable it to work with local banks and financial institutions.
FCA Extends Temporary Registration Deadline for Selected Crypto Firms
Some crypto businesses have been offered additional time in order to make it onto the full register to meet requirements from the UK regulator.
Binance.US Struggles to Find Banking Partner in the U.S.
Binance.US is facing challenges in finding a bank partner to serve as a fiat on-ramp and off-ramp for its clients in the United States, following the recent failures of Silvergate and Signature Bank. The regulatory crackdown on banks with crypto clients is another factor contributing to the exchange's struggles.
Sparkster Settles SEC Charges for Unregistered ICO, Agrees to Pay $35M to ‘Harmed Investors’
Sparkster agrees to pay over $35 million in a settlement with the U.S. Securities and Exchange Commission (SEC) over an "unregistered initial coin offering (ICO)" in 2018.
NYDFS to Assess Supervisory Costs from Licensed Crypto Firms
The NYDFS will assess supervisory costs from licensed crypto firms in the state of New York to add top talent to its virtual currency team. This new regulation provides the Department with additional tools and resources to regulate the virtual currency industry.
Estonia Shuts Down Crypto Firms
Nearly 400 virtual asset service providers (VASPs) have shut down in Estonia due to enhanced Anti-Money Laundering laws. The Financial Intelligence Unit (FIU) revoked the authorizations of almost 190 firms for non-compliance. The remaining 100 active crypto firms had issues with misleading company information, including falsified professional backgrounds and copied business plans.
Uzbekistan Announces Monthly Fees for Crypto Firms
Crypto companies operating in Uzbekistan are now expected to pay monthly fees to the government. The development is part of efforts by the country to regulate the sector.
Crypto Firms Report Funds Tied Up with Shuttered Signature Bank
Crypto firms including Coinbase, Paxos, and Celsius have reported funds tied up with Signature Bank, which was shut down by New York regulators due to concerns about systemic risk. While some firms expect to recover their funds in full, others have disclosed only that they had exposure to the bank. Other firms in the crypto industry have reassured customers that they had no exposure to Signature Bank.
Crypto Advocacy Group Calls on Regulators to Address De-Banking of Crypto Firms
The Blockchain Association has submitted Freedom of Information Act requests to U.S. financial regulators, seeking documents and communications that could reveal if regulators’ actions have contributed to the recent failures of banks that provide services to crypto firms. The association is investigating allegations of account closures and refusals to open new accounts by banks against crypto firms, which it believes should be treated like any other law-abiding business in the U.S.
Hong Kong’s OSL and US-Based Abra Become the Latest Crypto Firms to Announce Layoffs
OSL and Abra have announced job cuts as they grapple with slowing growth triggered by harsh reality facing the crypto market.
SEC Seeing 'Lots' of Crypto Firms are Non-Compliance: Gensler
Gensler commented on the development of the crypto space, saying that there are a lot of noncompliance firms in the industry that might put investors in endanger.