The increasing capacity for crime in the metaverse has primed it for regulation, according to a recent report. Corporations have already started exploring the potential of the metaverse for new econom...
Tag: regulators
US Banking Regulators Alerted Banks On Upcoming Potential Risks
The FTX breakdown has created an atmosphere of doubt and fear among crypto investors. The crypto market is filled with uncertainty which is reflecting in crypto asset prices. On January 3rd, 2023, Uni...
U.S. Regulators Warn Banks That Crypto Is Not ‘Safe and Sound’
The Federal Reserve and two other U.S. regulators today issued a warning to banks about cryptocurrencies. In a joint statement, the Board of Governors of the Federal Reserve, the Federal Deposit Insu...
Coinbase will pay $100m over KYC, AML to NY regulators
According to the New York Times, Coinbase will have to pay $50 million to New York regulators for letting users open accounts with minimal background confirmation. The organization will also spend $50...
US Federal Regulators Warn About Crypto Activities
The crypto space received more regulatory attention through the end of 2022. The collapse of one of the largest global digital asset exchanges brought massive losses to the industry. This event spurre...
Regulators say not so fast to Binance US acquisition of Voyager Digital
U.S. regulators want a judge to stop the acquisition of Voyager Digital, a crypto lender in Chapter 11 bankruptcy proceedings, by Binance.US until the company discloses more about its own finances and...
US Regulators Warn Local Banks About Risks of Dealing With Crypto After Horrific 2022
American banking watchdogs warned domestic financial institutions that delving into the world of crypto could carry various risks, such as fraud. The warning comes as a result of a catalytic 2022, whi...
Coinbase Settles for $100M With Regulators Over Compliance System
Key Takeaways Coinbase has reached a $100 million settlement with the New York Department of Financial Services over its compliance program. The exchange has been fined $50 million, and has agreed to ...
Coinbase Will Pay $100 Million After Regulators Find ‘Significant Failures’ Heightened Risk Of Criminal Activity
Topline Coinbase, one of the nation’s top cryptocurrency exchanges by trading volume, has agreed to pay $100 million as part of a settlement with New York regulators who allege the firm violated...
US Regulators Want Crypto to Follow ‘Safe and Sound’ Bank Rules
U.S. financial regulators have issued a joint statement to banks on the risks possessed by the crypto-assets. Will it drive away institutional adoption? Three U.S. regulators, including the Federal Re...
U.S. regulators issue post-FTX collapse crypto warning to banks
U.S. banking regulators remain skeptical of banks holding digital assets. The Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. put out a jo...
Regulators warn U.S. banks on crypto risks including ‘fraud and scams’
Ether has hugely outperformed bitcoin since both cryptocurrencies formed a bottom in June 2022. Ether’s superior gains have come as investors anticipate a major upgrade to the ethereum blockchai...
FTX New Management Argues with Bahamian Regulators; Here’s What Happened
Hot topic in the new year 2023 surrounded by FTX’s new leadership vs. Bahamian regulators. The Securities Commission of the Bahamas (SCB) published a statement which sought to correct “Material Missta...
Robert Kiyosaki accumulating bitcoin saying regulators may crush altcoins
Robert Kiyosaki, an American entrepreneur and author of bestseller “Rich Dad, Poor Dad”, in his December 31 tweet, said that despite the crypto winter, he is accumulating bitcoin. At the same time, he...
Bahamian Regulators Say It Seized $3.5B of FTX Assets
The Securities Commission of The Bahamas announced that it seized $3.5 billion worth of cryptocurrency assets from the now-bankrupt and collapsed crypto exchange FTX. Per a media release issued on Thu...
Regulators in the Bahamas Are Holding $3.5 Billion in FTX Customer Assets
The Securities Commission of the Bahamas has taken custody of FTX deposits valued at more than $3.5 billion as of Nov. 12, according to a media release published late Thursday by the SCB. Shortly afte...
17 Fraud Crypto Websites Flagged California Regulators
A total of 17 questionable crypto websites, which also include crypto brokers, have been flagged by the California Department of Financial Protection and Innovation (DFPI). These websites are believed...
Former FTX CEO Has Deep Ties With Current And Former US Regulators
Ever since the FTX bankruptcy case, new facts about the erstwhile second-largest cryptocurrency exchange emerge almost every day. Recently, an email reportedly revealed that the former FTX CEO Sam Ban...
Sam Bankman-Fried’s FTX tenure involved former and current US financial regulators
Sam Bankman-Fried reportedly collaborated with several former and current officials in top US agencies to oversee the fallen ramp’s operations. Seemingly, his ultimate goal was to introduce concise re...
Japanese Regulators May Reverse Ban on Foreign Stablecoins: Report
Japan became one of the first big countries to establish a legal framework for stablecoins in June. Six months later, it is taking yet another crucial step to tweak the existing ban as the Financial S...
Privacy coins face potential ‘extinction’ but will they survive the wrath of financial regulators?
Privacy-protecting crypto tokens and solutions have been attracting serious regulatory scrutiny in recent years, due to their increasing use by bad actors to perpetuate dirty acts like money launderin...
North Korean hacking activity ceases after regulators implement KYC: Report
According to a new report published by South Korea’s National Intelligence Service (NIS), North Korean hackers have stolen more than 800 billion Korean won ($620 million) worth of cryptocurrencies fro...
California regulators order MyConstant to cease crypto-lending services
The California Department of Financial Protection and Innovation (DFPI) has ordered crypto lending platform MyConstant to cease offering a number of its crypto-related products over alleged state secu...
Crypto regulators should leave DeFi alone, Coinbase’s Brian Armstrong says
Brian Armstrong, the co-founder and CEO of crypto exchange Coinbase, called on regulators to focus on centralized entities and leave decentralized finance (DeFi) projects alone. “It’...
Banking Committee Chair: US Regulators Should ‘Maybe’ Ban Crypto
U.S. Senator Sherrod Brown has suggested that U.S. federal agencies, such as the Securities Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), should “maybe” consider a ban...
Incoming House chairman wants regulators to form offices of innovation
The incoming chair of the House Financial Services Committee wants regulators to “to modernize and streamline how innovators interact with regulators,” and grant offices of innovation the ...
Finder Wallet sued by Australian regulators for unlicensed Earn product
Finder Wallet, the cryptocurrency offshoot of Finder, has been sued by the Australian Securities and Investments Commission (ASIC) for its Earn product which offered customers a way to earn yield on t...
The Urge of US Financial Regulators Regarding This Legislation
The United States Federal Government Organization, Financial Stability Oversight Council (Council), urged Congress to pass legislation for cryptocurrency spot markets. Meanwhile, the spot market can b...
US Financial Regulators Urge Congress To Pass Cryptocurrency Spot Markets Legislation
A council consisting of the US’s top financial regulators is urging Congress to regulate cryptocurrency spot markets. The Financial Stability Oversight Council, made up of the heads of the U.S. Securi...
Key financial regulators call for stronger licensing of crypto firms
Several key financial regulators in the U.S. cited issues with cryptocurrency firms and called for stricter licensing at a Friday meeting of the Financial Stability Oversight Council, a committee of U...
New York Financial Regulators Issue Crypto Guidance To Banks
The New York State Department of Financial Services (DFS) has handed out guidance to regulated banks that wish to engage in activities related to cryptocurrencies. DFS has provided these banks with a ...