Search Results for: Regulatory Compliance

Indian Government Answers Questions About Crypto Legalization, Fraud Prevention

by

The Indian government has responded to parliamentary questions about the legalization of cryptocurrency and the steps it has taken to prevent crypto-related fraud. “Crypto assets are currently unregulated in India. Frauds relating to crypto are dealt with under extant laws against…

Binance Sued by CFTC for Alleged Violations of Trading and Derivatives Rules

by

The world’s largest crypto exchange by trade volume, Binance Holdings Ltd., has been sued by the U.S. Commodity Futures Trading Commission. Binance CEO Changpeng Zhao has been named in the lawsuit and the charges claim the crypto exchange broke several trading…

Republican Congressman Tom Emmer Queries FDIC on Alleged Efforts to Purge Crypto Activity from US

by

On Wednesday, Tom Emmer, the U.S. Republican congressman from Minnesota, revealed he sent a letter to Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation (FDIC), regarding reports that the FDIC is “weaponizing recent instability” in the U.S. banking industry…

Digital Real Pilot to Run on Ethereum-Compatible, Permissioned Blockchain

by

According to the Central Bank of Brazil, the digital real pilot project will use an Ethereum-compatible, permissioned blockchain for the issuance of the tokenized version of the country’s currency. Hyperledger Besu, the open-source platform elected for the tests, will allow the…

Innovations Help to Substantially Reduce the Gap Between Decentralized and Centralized Exchanges — Dexalot COO

by

While centralized exchanges are thought to be safer and more efficient, proponents of decentralized platforms like Tim Shan insist that user experience on decentralized exchanges has improved. In addition, inherent benefits associated with decentralized exchanges such as the self-custody of assets…

Matrixport Joins Growing List of Crypto and Blockchain Companies Letting Employees Go

by

The crypto firm Matrixport, led by former Bitmain CEO Jihan Wu, is laying off 10% of the company’s staff, according to reports published on Friday. Matrixport’s COO, Cynthia Wu, cited a “shift in the regulatory climate” and “industry-wide capitulations” as reasons…

Binance Now Authorized in 7 EU Countries — Sweden Becomes Latest Member State to Give Approval

by

Crypto exchange Binance is now legal to operate in seven European countries following the latest approval by Sweden’s financial regulator. Overall, Binance has been approved to operate in 15 jurisdictions, including seven EU countries. Binance Approved to Operate in 7 EU…

Coinbase Secures Regulatory Approval to Operate as a Virtual Asset Service Provider in Ireland

by

Coinbase has announced it has secured regulatory approval as a virtual asset service provider (VASP) in Ireland, according to a company blog post published on Dec. 21. According to the company, Coinbase has been approved by Ireland’s central bank which means…

SEC Chairman Says Important to Regulate Crypto Issuers and Intermediaries

by

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has stressed the importance of bringing “intermediaries and issuers of crypto securities” into compliance. In addition, the U.S. Treasury Department’s Financial Stability Oversight Council (FSOC) has recommended that regulatory…