Category : Finance Magnates

Finance Magnates

Crypto Finance Clinches Four BaFin Licenses Strengthening Institutional Services

Crypto Finance AG, a part of the Deutsche Börse Group, the FINMA-supervised provider of institutional-grade investment solutions, custody, and trading for digital assets has obtained four licenses from the German Federal Financial Supervisory Authori...

New York AG Expands Legal Pursuit against DCG, Unveils $3 Billion Fraud Allegations

The New York Attorney General Letitia James has expanded her legal pursuit against Digital Currency Group (DCG), its CEO, Barry Silbert, and Genesis Global Capital. The amended complaint, following the initial lawsuit filed last year, exposes an addi...

Commercial Bank International and Fuze Target UAE's Crypto Market in New Partnership

Commercial Bank International PJSC (CBI) and Fuze, a digital asset infrastructure provider, have signed a Memorandum of Understanding to explore and develop digital asset solutions within the UAE's comprehensive regulatory frameworks. According to a...

Block Earner’s Crypto Product Needs Financial Services License: Aussie Court

An Australian federal court has ruled that Web3 Ventures Pty Ltd, operating under its tradename Block Earner, has been offering crypto products without obtaining a necessary financial services license. It was one of the country's first such court rul...

Bankrupt Genesis Settles Fraud Charges in New York

Bankrupt crypto lender Genesis Global Holdco LLC has settled the fraud charges brought against it by the New York Attorney General, Letitia James, through its now-terminated Gemini Earn program. According to the Bloomberg report, the settlement ensur...

DNB Greenlights Kraken with VASP Registration: Opens Doors to Dutch Market

Kraken has achieved a milestone in its European growth strategy with the acquisition of a Virtual Asset Service Provider (VASP) registration from the Dutch Central Bank (DNB). This registration paves the way for Kraken to expand its operations into t...

SEC Targets Former Zipmex Thailand CEO amid Fraud Allegations

Thailand's Securities and Exchange Commission (SEC) has leveled accusations of corruption and deception against Akarlap Yimwilai, the former CEO of Zipmex Thailand, according to an official statement released on Thursday.Irregularities in Customer As...

CCData and BMLL Collaborate to Meet Surging Demand for Crypto Analytics

London-based firms CCData and BMLL Technologies have announced a new partnership aimed at streamlining access to data across traditional and digital asset markets.CCData, an FCA-authorized benchmark administrator, provides digital asset data solution...

Bakkt Runs Low on Cash: Raises Concerns on Its Existence

Bakkt, a cryptocurrency platform backed by the New York Stock Exchange (NYSE) owner, warned about its future as it might go out of business due to insufficient cash for the next 12 months’ operations.Bakkt’s Future In Jeopardy“We might not be able to...

Crypto Exchanges Hit New Record, Leader Gains 600% in a Year

After a strong year-end, the spot volumes of the largest cryptocurrency exchanges recorded only modest monthly gains, averaging 3%. However, comparing statistics from January 2024 with the same period twelve months earlier, we see that the total volu...

SEC Hits TradeStation Crypto with $1.5 Million Penalty over Unregistered Services

The Securities and Exchange Commission (SEC) has charged TradeStation Crypto, Inc., a Florida-based company, for failing to register the offer and sale of a crypto lending product. TradeStation Crypto has agreed to pay a penalty of $1.5 million to se...

Stablecoin PYUSD Gains Momentum: Paxos and Chainlink Partner to Accelerate Adoption

In a bid to accelerate the adoption of PayPal USD (PYUSD), a USD-backed stablecoin issued by Paxos, Chainlink has introduced PYUSD Chainlink Price Feed on Ethereum. This integration aims to provide market data for PYUSD on the blockchain, promoting i...

FSC Implements New Legislation for Crypto Market in South Korea

The South Korean government has taken decisive action to safeguard the interests of cryptocurrency investors with the enactment of the Virtual Asset Users Protection Act, announced by the Financial Services Commission (FSC) today (Wednesday).Financia...

B2C2 Secures EU Presence with VASP Registration in Luxembourg

B2C2, a cryptocurrency market-maker owned by Japan’s SBI Holdings, has expanded its presence in continental Europe by registering as a virtual asset service provider (VASP) in Luxembourg. It has become the 12th company to receive the crypto registrat...

Robinhood Integrates MetaMask: “Reduces Friction” for Web3 Users

Robinhood Markets (Nasdaq: HOOD) announced yesterday (Tuesday) the integration of Robinhood Connect with MetaMask, the self-custodial web3 wallet owned by Consensys. According to the company, the integration will “reduce friction for users seeking ac...

Decoding Japan's Trailblazing Stablecoin Regulations

Japan has emerged as a beacon of regulatory clarity, especially in the realm of stablecoins. The Land of the Rising Sun, often associated with resilience, has paved the way for a comprehensive stablecoin framework, setting itself apart as a global le...

Crossover and Ouinex Collaborate for Crypto Market Advancements

Ouinex, a crypto trading platform tailored for active and professional traders, has announced a strategic alliance with Crossover Markets, an institutional trading venue specializing in spot cryptocurrencies. The collaboration heralds a milestone wit...

Texts of Deception: Unveiling Smishing, the Dark Side of SMS in Crypto

In an era where free messenger apps have almost completely dominated traditional text messages, it might seem that after over 30 years, popular “texts” have already become obsolete. Although we do not use them in everyday communication, they are stil...

Canadian Court Backs Regulations against Crypto Mining in Latest Ruling

A court in British Columbia has affirmed BC Hydro's ban on crypto mining projects. This decision will have significant effects on both the energy sector and the growing crypto industry.Justice Michael Tammen deemed BC Hydro's 18-month moratorium on c...

Terraform Labs’ Former CFO Extradited to South Korea to Face Criminal Charges

After months of deliberation, Montenegrin authorities have extradited Han Chang-joon, Terraform Lab's Former Chief Financial Officer, to South Korea, according to a notice by the Government of Montenegro. This move occurred as the US and South Korea...

South Korea Proposes Regulatory Vetting for Crypto Executives

South Korea's Financial Services Commission (FSC) has proposed significant changes to its reporting requirements for virtual asset service providers (VASP) to regulate the employment of executives in the sector. This amendment would mandate the vetti...

South Korean Financial Watchdog Turns to SEC for Bitcoin ETF Guidance

South Korea's Financial Supervisory Service (FSS) is seeking guidance from the United States Securities and Exchange Commission (SEC) on spot Bitcoin exchange-traded funds (ETF).FSS Chief's 2024 Plans: Spotlight on New York and Bitcoin ETFsThe Govern...

Bitcoin Winter Hits Argo: A Look into Its Sluggish Start in 2024

The drop in the price of Bitcoin at the beginning of the year led to a publicly listed miner, Argo Blockchain (NASDAQ: ARBK), reporting a reduction in cryptocurrency mining. Specifically, the company mined 124 Bitcoin in January, a decrease of 20% fr...

Hong Kong: Crypto Investors Face Deadline to Switch to Licensed Platforms

Hong Kong’s Securities and Futures Commission (SFC) issued a notice today (Monday) urging virtual asset investors to invest only through licensed exchanges. The notice came before the deadline of 29 February when all crypto exchanges in Hong Kong mus...

SEC Charges American Bitcoin Academy's Founder with $1.2M Fraud

The Founder of the American Bitcoin Academy is facing scrutiny from the Securities and Exchange Commission (SEC) over allegations of fraud targeting his students.Based in Hurricane, Utah, and later Puerto Rico, Brian Sewell enticed hundreds of studen...

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