UKs FCA provides more guidance on crypto promotion compliance

The financial regulator is trying to bring companies offering crypto services into line with requirements that came into force in October.

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Slow FCA processing at odds with UK's crypto ambitions Report

Crypto firms may want to register somewhere they can receive more prompt attention, law firm warns.

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South Korean crypto CEO stabbed in court during Haru Invest fraud trial

The courtroom stabbing comes weeks after a Chinese gang robbed over $2 million worth of crypto at gunpoint in a luxury estate in Thailand. 

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Nigerian SEC mandates local offices for crypto firms

The requirement also states that applicants must report customer complaints and emergent risks and be subject to SEC inspections, audits and monitoring.

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Crypto firms vulnerability to CrowdStrike blackout: Analyst insights

Although no major crypto exchange was affected by the CrowdStrike downtime, analysts provided possible impacts in a case where they are.

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Crypto firm Hiddup rebrands amid $41M investigation and legal woes

Hiddup continues advertising returns ranging from 6 to 16% per annum through blockchain mining on its website while facing legal action.

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Bitcoin Firm Coinbits Suspends Operations Amidst Custodian Prime Trust’s Financial Woes

The cryptocurrency firm and bitcoin investment app, Coinbits, has announced the suspension of its services due to complications involving the Nevada-based custodian, Prime Trust. Following accusations of insolvency and breaches of fiduciary responsibilities, Nevada’s financial regulators mandated the closure of Prime Trust. Despite these challenges, Coinbits maintains confidence that the custodian “still has enough bitcoin [...]

The post Bitcoin Firm Coinbits Suspends Operations Amidst Custodian Prime Trust’s Financial Woes appeared first on Crypto Breaking News.

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Gemini and Genesis Fight Back Against SEC Lawsuit, Seek Dismissal of Allegations

Gemini Trust Company and Genesis Global Capital filed a court document on May 26, 2023, seeking the dismissal of a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). The regulatory body had accused the two crypto firms of offering unregistered securities. Gemini and Genesis Refute SEC’s Claims of Unregistered Securities, File Motion to [...]

The post Gemini and Genesis Fight Back Against SEC Lawsuit, Seek Dismissal of Allegations appeared first on Crypto Breaking News.

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Crypto Firms Face Turmoil as Prime Trust Fallout Causes Service Disruptions and Concerns

After the Bitgo acquisition deal to purchase Prime Trust fell through, it seems that crypto firms that have worked with the custodian are experiencing problems. On Thursday, Seattle-based fintech startup Stably announced the need to “temporarily pause” certain services and operations. According to reports, the bitcoin payments platform, Strike, is also encountering difficulties and has

The post Crypto Firms Face Turmoil as Prime Trust Fallout Causes Service Disruptions and Concerns appeared first on BTC Ethereum Crypto Currency Blog.

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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. (Read More)

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Stringent Licensing Of Cryptocurrency Firms Immediate Necessity :French Central Bank Governor

The governor of the Bank of France, Francois Villeroy de Galhau, has called for stricter licensing rules for cryptocurrency businesses in France, noting the present unrest in the cryptocurrency markets. The central bank governor said France shouldn’t wait for impending EU cryptocurrency rules to establish mandatory licensing for regional Digital Asset Service Providers during a […]

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German crypto bank Nuri tells 500K users to withdraw funds ahead of shut down

Nuri will maintain crypto trading services until the end of November, and has encouraged users to withdraw their assets before the mid-December deadline.

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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. (Read More)

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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. (Read More)

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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. (Read More)

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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. (Read More)

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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. (Read More)

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Oman Supports US Crypto Firm To Reduce Natural Gas Flaring

Crusoe Energy’s latest fundraising round included Oman sovereign wealth fund. The energy company also has $155 million in new credit ...

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Overseas Crypto Firms require Singapore’s stamp of approval

Singapore’s ambition to be the global hub of crypto received a major boost when the nation’s parliament gave its consent to a law that aimed to bring foreign digital asset firms operating in the city-state under its ambit. According to sources, the new legislation will require overseas virtual asset service providers [VASPs] in the region to […]

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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. (Read More)

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