City New York Financial News

29.05 / 06:39

Law Airlines Report Court Lawyer Lawyer uses ChatGPT in court and now 'greatly regrets' it

A New York attorney has been blasted for using ChatGPT for legal research as part of a lawsuit against a Columbian airline.

26.05 / 05:11

cryptocurrency CFTC SEC FTX No way to police all cryptocurrency fraud, CFTC commissioner says

cryptocurrency fraud because there is so much, though her agency is working on several big cases. Christy Goldsmith Romero, one of five commissioners at the Commodity Futures Trading Commission (CFTC), said cryptocurrency cases account for about 20% of the agency's portfolio, including recent civil cases against the exchanges Binance and FTX. «There's just a lot of fraud in the space,» Goldsmith Romero said at a white collar crime conference at the New York City Bar Association. «There's just no way we can police all the fraud, but we've got to do something.» CFTC Chairman Rostin Behnam has sought greater authority from lawmakers for the agency to oversee spot crypto markets.

23.05 / 19:57

Lowe's Ripple CEO JPMorgan Chase BlackRock BlackRock bond chief Rieder says U.S. economy in 'much better shape’ than doomsayers say

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19.05 / 19:19

CBDC Adoption Federal Reserve Cross-border NY Fed and MAS publish joint CBDC cross-border payment project results

The Federal Reserve Bank of New York’s New York Innovation Center (NYIC) and the Monetary Authority of Singapore (MAS) have published the results of their joint Project Cedar Phase II x Ubin+ (Cedar x Ubin+). The project examined the use of central bank digital currency for wholesale cross-border payments using one or more vehicle currencies.

19.05 / 13:09

regulation Crypto Exchange Customers NY Attorney General Secures $4.3 Million Refund for Coin Cafe Customers Misled by Hidden Fees

The New York Attorney General’s office has ordered crypto trading platform Coin Cafe to repay $4.3 million to users for charging hidden fees.

19.05 / 04:59

Law regulation Trading Fraud Bitcoin Coin Cafe ordered to repay $4.3M in fees that ‘wiped out’ investors’ Bitcoin accounts

Cryptocurrency trading platform Coin Cafe has been ordered to repay $4.3 million to its users after allegedly charging “exorbitant and undisclosed fees" for storing Bitcoin on the platform — leading to some accounts being drained entirely of its funds.

11.05 / 06:49

Stablecoin Adoption regulation Tether Usd Coin Backed bail Fiat-backed stablecoins could be used to post bail in New York under proposed bill

A New York lawmaker has introduced a new bill that would see dollar-pegged stablecoins accepted as a legal form of payment for bail bonds.

11.05 / 04:41

FTX Fried Bankman-Fried asks court to dismiss charges over FTX collapse

FTX chief Sam Bankman-Fried asked a US federal court Monday to toss out most of the charges he faces over the collapse of his crypto exchange last year. In a pre-trial motion, lawyers for Bankman-Fried asked the US District Court for the Southern District of New York to dismiss 10 of the 13 charges against him, arguing that in some of the charges prosecutors failed to «state an offense» or to «allege a valid property right.» The disgraced crypto currency highflyer has pleaded not guilty to fraud, conspiracy and money laundering charges. Extradited to the United States in December from the Bahamas and put under house arrest, Bankman-Fried faces potentially dozens of years in prison. His trial is scheduled to begin in October in New York.

10.05 / 14:43

Twitter Target Digital Citizens TikTok Southern 2020 US Extradites UK Hacker Responsible for 2020 Twitter Breach and Crypto Theft

The United State Department of Justice has announced the extradition of a 23-year-old UK citizen behind the 2020 Twitter hack and other cybercrimes, including the theft of $794,000 in digital assets.

09.05 / 13:01

Citi stake acquires New York hedge fund acquires stake in Birmingham City FC after ‘complex’ talks

Thomas Wagner’s multi-billion dollar hedge fund Knighthead Capital Management has acquired a significant stake in the English football club Birmingham City FC.

09.05 / 09:13

FTX Ftx Trial Fried Sam FTX Founder Sam Bankman-Fried Seeks Dismissal of Most Criminal Charges Against Him

The disgraced founder of FTX Sam Bankman-Fried has asked a New York federal judge to dismiss most of the criminal charges brought against him by federal prosecutors.

05.05 / 16:29

regulation exchanges Policy NY Attorney General Proposes Bill To Rein In Cryptocurrency Industry

Source: Pexels

05.05 / 15:35

Government Law regulation New York AG's office seeks additional authority over crypto firms

Letitia James has reportedly proposed legislation that would give the New York Attorney General’s office more authority to regulate the crypto industry.

04.05 / 10:05

Adoption Europe Asia UK Lisbon Leads the Way as the World's Premier Crypto Hub, Outranking New York and Berlin: Report

Portuguese capital takes the top spot among the world's most important crypto hubs - ahead of New York, Berlin, and Paris, according to a report by European crypto investment firm Greenfield.

04.05 / 06:41

business Law Bloomberg Court Media Financial Times The New York Times Mainstream media renew push for non-US FTX user identities

Four media outlets in the United States have continued efforts to get the identities of non-U.S. FTX customers revealed, filing new objections to a previous motion to seal their identities.

03.05 / 19:53

Policy Crypto Policy Blockchain Association Packs Up Out of NY To Focus on Federal Crypto Policy

The Blockchain Association is moving out of New York.

03.05 / 17:57

business lending Celsius Mashinsky files motion to dismiss NY AG suits, says it ‘parrots misinformation’

Alex Mashinsky, co-founder and former CEO of bankrupt crypto lending platform Celsius Network, has filed a response to New York Attorney General Letitia James’ suit against him. According to the document, the suit has shortcomings in presenting the facts in the case and its legal argument and should be dismissed.

26.04 / 07:19

Stablecoin regulation SEC Federal Reserve Usd Coin Circle’s Fed payment rail goal could be crushed by NY Fed’s policy change

The New York Federal Reserve published new rules for counterparties looking to use its money market balancer, casting uncertainty over intentions by stablecoin issuer Circle to use the Fed's systems.

25.04 / 12:23

NFT regulation SEC coinbase Opensea OpenSea 'insider trading' trial kicked off in New York district court

On Apr. 24 the Southern district court of New York held the first jury hearing on the case against former OpenSea product manager Nathaniel Chastain, who’s being accused of insider trading with nonfungible tokens (NFTs).

18.04 / 09:31

regulation crypto regulation Crypto Companies Financial New York Financial Regulator Adopts Assessment Rule for Crypto Companies – Here's What You Need to Know

The New York State Department of Financial Services has passed a new law that requires companies holding a BitLicense to pay assessment fees similar to insurance and banking firms.

18.04 / 05:51

COST Align New York finance regulator to bill crypto firms for annual supervision

The New York State Department of Financial Services said it would start charging cryptocurrency firms registered in the state for the costs of annual supervision and examination.

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