Coinbase CLO: Trump & Harris Consult Crypto Industry Leaders for Policies
Former President Donald Trump and current Vice President Kamala Harris are in a heated race to win the…
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Former President Donald Trump and current Vice President Kamala Harris are in a heated race to win the…
Crypto trading platform Robinhood has reached a $3.9 million settlement with the California Department of Justice (DOJ), following an investigation into its alleged failure to allow customers to withdraw their cryptocurrency from 2018 to 2022. The investigation was prompted by numerous consumer complaints regarding Robinhood’s practices, particularly its handling of cryptocurrency withdrawals and trading. Alleged Violations And Settlement Revealed According to the DOJ, Robinhood violated the California Commodities Law (CCL) by enabling customers to purchase cryptocurrencies without delivering these assets to them, effectively selling commodities contracts without adhering to legal requirements. Related Reading: Crypto Analyst Says The Bitcoin Summer Chop Is Nearing Its End, Heres Why During the specified period, customers could not withdraw their cryptocurrencies and were forced to sell their holdings back to Robinhood to exit the platform. California Attorney General Rob Bonta stated: This settlement should send a strong message: Whether you’re a brick-and-mortar store or a cryptocurrency company, you must adhere to California’s consumer and investor protection laws. The investigation alleged that Robinhood misled customers about its trading practices. The DOJ claims that the platform promoted itself as connecting users to multiple trading venues to ensure competitive pricing, but the DOJ found that this was not consistently accurate. Additionally, Robinhood claimed that it held all customer-owned cryptocurrencies, failing to disclose instances where third-party trading venues held these assets for extended periods. Robinhood Measures Post-Settlement As part of the settlement, Robinhood has agreed to several measures aimed at improving transparency and customer trust. Customers will now be permitted to withdraw their cryptocurrency assets to their own wallets. Additionally, Robinhood must ensure that its written communications accurately reflect its actual trading and order handling practices. The company will also provide clear information regarding its custody of cryptocurrencies. Related Reading: XRP Rides High As Major Japanese Exchange Adds SupportDetails Lastly, Robinhood is required to report any incidents that result in settlement delays exceeding one week to the California Department of Justice. Featured image from DALL-E, chart from TradingView.com
Law enforcement authorities are proactively seeking out and closing Bitcoin ATMs that are frequently involved in extortion and scams.
The war between Russia and Ukraine has entered its third year. During this time, Western allies in Ukraine…
Taiwans FSC opens investment channels for professional investors, allowing access to high-risk foreign digital asset ETFs while maintaining a cautious stance on market risks.
The post Ohio Senator Suggests Normalising Use Of Crypto, Introduces Bill To Legalise Crypto Payments appeared first on Coinpedia Fintech News
In a latest development, Niraj Antani, a State Senator in Ohio, has introduced a Bill that, if passed, would legalize crypto payments in the State. With a few months to the Presidential election, it remains unknown how State lawmakers will approach this new Bill and proposal. TODAY: I introduced a bill the legalize the use …
The post Bithumb Crypto Exchange Aims For A Nasdaq Listing As It Seeks Global Expansion appeared first on Coinpedia Fintech News
Bithumb, one of South Koreas largest crypto exchanges is considering a listing on the U.S. Nasdaq, the company told at a temporary shareholders’ meeting held on the 30th, according to Korea Economic Daily. Bithumb IPO Coming Up In late 2023, the exchange was reportedly planning to go public by listing its shares on Kosdaq, the …
Taiwans FSC opens investment channels for professional investors, allowing access to high-risk foreign digital asset ETFs while maintaining a cautious stance on market risks.
The U.S. Securities and Exchange Commission (SEC) charged Galois Capital Management LLC, a Florida-based crypto-focused advisory firm, with…
The post Could China Lift Its Crypto Ban? Ex-Minister Calls for Fresh Review appeared first on Coinpedia Fintech News
The former Chinese finance minister, Lou Jiwei has encouraged China to closely examine the advancements in cryptocurrency, during a speech at the 2024 Tsinghua Wudaokou Chief Economists Forum in Beijing. The ex-government official highlighted the potential risks crypto poses to financial stability, including volatility and money laundering. He also remarked the United States diverting stance …
The post Gary Gensler Claims Crypto Regulations Exist, Affirms BTC Is NOT A Security appeared first on Coinpedia Fintech News
SEC Chair Gary Gensler during an interview on CNBC mentioned that crypto regulations exist in the United States. He noted that many firms profited from the publics interest in crypto without proper disclosures. He claimed that stakeholders in the crypto industry do not like these regulations, which is why they claim they do not exist. …
Binance announces the removal of the Turkish language option from its website and app from September 27, 2024, to comply with new regulations in Türkiye. (Read More)
Kosovos Financial Intelligence Unit partners with the Council of Europe to improve crypto crime tracing skills and strengthen regulations on digital currencies.
The partnership comes shortly ahead of the implementation of the MiCA regulatory framework for crypto service providers.
Bank of New York Mellon will not be held to SEC accounting practices for client crypto custody after a review.
The Central Bank of Ireland is leading calls to democratize finance and boost financial inclusivity by implementing the EUs MiCA regulations, highlighting the countrys priorities.
In 2022, Coinbase asked the SEC to propose and adopt rules to govern crypto, including clarification of which crypto assets are securities.
The post Waters Criticizes SECs Crypto Rules, Calls for Year-End Stablecoin Bill appeared first on Coinpedia Fintech News
In the ongoing development to regulate stablecoin issuers, on September 24, 2024, United States Representative Maxine Waters, the House Financial Services Committee, urged the Securities and Exchange Commission to finalize the bill by the end of this year. Additionally, Waters noted to the committees chairman Patrick McHenry, “I want us to strike a grand bargain …
The post SEC Commissioner Criticizes SEC For Not Admitting That Crypto Tokens Are Not Securities appeared first on Coinpedia Fintech News
In a latest development, SEC Commissioner Hester Peirce, known as Crypto Mom in the community, criticized the SEC for not confessing sooner that crypto tokens are not securities by default. While speaking at the Practising Law Institutes SEC Speaks conference in Washington, D.C., she stressed the negative effects SECs regulatory ambiguity is having on the …
The post Crypto Policy: Harris Accepts CNN Offer For A Second Debate With Trump appeared first on Coinpedia Fintech News
United States Vice President Kamala Harris has accepted CNNs offer for a second presidential debate with former US President Donald Trump on 23 October as she expressed in a latest tweet and hopes that Donald Trump will join her on the stage. Kamala Harris campaign manager Jen OMalley Dillon told the reporters that the voters …
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