Category: Cryptocurrency

FTX
July 19, 2023 BY Steffy Bogdanova

ASIC cancels FTX’s license in Australia

Additionally, the cancellation of the company’s AFS license does not affect requirements stemming from its membership with the Australian Financial Complaints Authority, and to have arrangements for compensating retail clients. The official announcement also detailed that John Mouawad, Scott Langdon and Rahul Goyal of KordaMentha were appointed as voluntary administrators of FTX Australia and its…

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Celsius
July 14, 2023 BY Steffy Bogdanova

Celsius founder Alex Mashinsky arrested for crypto fraud

Likewise, the Commodities Futures Trading Commission (CFTC) brought similar charges against the crypto lender and its founder. The CFTC asserted that Celsius and Mashinsky operated an extensive commodity pool scheme involving digital asset commodities. The derivatives regulator announced a settlement agreement with Celsius, which includes a court order permanently prohibiting the company from engaging in…

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June 30, 2023 BY Steffy Bogdanova

UK passes regulation on crypto and stablecoin adoption  

Introduced in July 2022, the legislation expands the authority of regulators over the financial system, encompassing cryptocurrencies. The bill underwent parliamentary discussions, amendments were incorporated to classify all crypto-related activities as regulated and to oversee crypto promotions, as well. Furthermore, the bill brings stablecoins to the existing framework of payment regulations. HM Treasury added in…

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June 30, 2023 BY Steffy Bogdanova

CME Group introduces Ether/Bitcoin ratio features

He added: With the addition of Ether/Bitcoin Ratio futures, investors will be able to capture ether and bitcoin exposure in a single trade, without needing to take a directional view. This new contract will help create opportunities for a broad array of clients looking to hedge positions or execute other trading strategies, all in an…

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June 30, 2023 BY Steffy Bogdanova

Germany rejects Binance’s application for crypto license

Binance has not yet commented on the denied license bid, however, a spokesmen for the company only shared that "ongoing process" and the exchange continues “to work to meet Bafin's requirements." It is unclear whether the rejection is formal or whether the German regulator has expressed their intention in ongoing discussions. Binance has been facing…

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Crypto.com registers as VASP in Spain
June 26, 2023 BY Steffy Bogdanova

Crypto.com gains VASP license in Spain

Regulatory licence momentum The latest registration in Spain for Crypto.com continues the cryptocurrency platform’s momentum of gaining regulatory approvals in the UK, France, South Korea, Singapore, Italy, Australia, and other regions. The company recently obtained a Major Payment Institution (MPI) licence for Digital Payment Token (DPT) from the Monetary Authority of Singapore (MAS) in Singapore.…

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SEC gets go-ahead to lodge partial appeal in Ripple case
June 22, 2023 BY Steffy Bogdanova

Ripple secures In-Principle Approval in Singapore from MAS

Ripple’s CEO, Brad Garlinghouse said: Singapore is a leading global financial center, and a prominent gateway to business in Asia Pacific. We’re incredibly proud to receive an in-principle license from the MAS, reaffirming our commitment to the region and ongoing proactive engagement with regulators globally. The MAS continues to be a global leader in establishing…

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June 22, 2023 BY Steffy Bogdanova

Binance launches services in Kazakhstan amid troubles in the US and Europe

Asset Turysov, Vice Minister of Digital Development, Innovation and Aerospace Industry of Kazakhstan, said: Over the past year, regulators in Kazakhstan have taken significant steps towards the development of the cryptocurrency industry. Binance has provided assistance to Kazakhstan in the development of a legislative framework and a general policy for the regulation of crypto assets,…

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June 20, 2023 BY Steffy Bogdanova

Binance withdraws registration in the UK

Binance recently withdrew its registration as a crypto service provider in Cyprus, saying it was focusing “on fewer regulated entities in the EU.” The exchange also announced exiting the Netherlands. Additionally, the company is facing legal trouble in the US with a lawsuit from the Securities and Exchange Commission for operation of an unregistered trading…

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June 19, 2023 BY Steffy Bogdanova

French regulator investigates Binance for money laundering

Binance is already facing legal troubles with US Securities and Exchange Commission (SEC). Last week the regulator announced filling 13 charges against Binance and its founder Changpeng “CZ” Zhao with various securities law violations, among which operating without registration and offering unregistered securities. In February 2022, following an investigation conducted by the specialized interregional jurisdiction…

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