State California Financial News

Kalin Metodiev, the co-founder and managing partner of crypto lender Nexo stated his firm was “surprised” by the way in which eight state regulators publicly took action against it for securities violations.

Switzerland-based crypto-lender Nexo is facing simultaneous enforcement action from eight different U.S states over varying allegations. Actions include cease and desist orders, administrative measures etc.

 

All-in-one cryptocurrency platform Nexo has received a cease-and-desist order in the U.S. state of California. 

The California Department of Financial Protection & Innovation (DFPI) has filed a desist and refrain order against crypto lending platform Nexo as part of its ongoing investigation of companies offering interest-bearing crypto assets accounts. The agency claims it is joining regulators from seven other American states in taking action against the company. The other states involved are Kentucky, New York, Maryland, Oklahoma, South Carolina, Washington and Vermont, according to CNBC.

The U.S. Commodity Futures Trading Commission (CFTC) has rattled the crypto community with an enforcement action it brought against Ooki DAO, leaving market participants fuming and unsure of which protocol could be targeted next by regulators. 

The crypto industry has scored a win with California Governor Gavin Newsom vetoing a bill that would establish a licensing and regulatory framework for digital assets.

Adding to the existing regulatory hurdles for the crypto ecosystems, California Governor Gavin Newsom refused to sign a bill that would establish a licensing and regulatory framework for digital assets.

California Governor Gavin Newsom has vetoed a bill that sought to license and regulate crypto. Assembly Bill 2269 was introduced by AssemblyMan Timothy Grayson. However, the bill was subjected to heavy criticism by the crypto community.

A U.S. District Judge recently issued an order with regards to taxation paid on cryptocurrencies. The Judge authorizing Internal Revenue Service (IRS) to seek information related to American taxpayers who don’t report or pay taxes on cryptocurrency transactions.

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XRP's price has fallen this year, as has the price of many other cryptocurrencies. The large-cap coin has dropped 52.3% since the beginning of the year, mirroring the overall declines of the cryptocurrency market, which is not surprising given its position.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

More workers across a range of industries are going on strike, seeking pay raises to catch up to inflation while the tight labor market has taken away some of the risk of walking off the job.

Barry Eichengreen, professor of economics at the University of California, Berkeley, is a former senior policy adviser at the International Monetary Fund. He is the author of many books, including In Defence of Public Debt

HUNTINGTON BEACH, Calif. — Professional athletes are faced with a difficult task early in their careers — learning to deal with big sums of cash as they're thrust into stardom, often at a young age.

JPMorgan Chase has agreed to acquire a payments startup called Renovite to fend off threats from fintech firms including Stripe and Block, CNBC has learned.

\The South Korean arm of the charitable organization World Vision has announced that it will accept donations made in cryptoassets – a first for a South Korean NGO.

crypto tokens as traded in a narrow band around $20,000the entire week, the longest stretch that it has dipped under that level since the market was rocked by turmoil in July. Investors continue to debate the implications of rising borrowing rates for riskier assets after the Fed Chair's hawkish commentary. Bitcoin is down roughly 60% this year and some other tokens have lost even more. Other cryptocurrencies including Polkadot and Dogecoin also declined. However, Ether was surging in anticipation of a groundbreaking software upgrade to its blockchain. Here's a weekly roundup of all the noteworthy stories from the crypto space:1. Meta rolls out NFT feature on Instagram and Facebook Users of Instagram and Facebook can now display their NFTs on the platform, according to a recent announcement from Meta.

United States-based crypto lending platform Celsius, which collapsed and stopped the withdrawal option amid the market meltdown in June, pledged its readiness to partially return money to customers. However, there’s a catch, as the motion company has filed with the United States Bankruptcy Court, would only apply to Custody and Withold Accounts and for custody assets worth $7,575 or less in value.