State New York Financial News

16.06 / 18:39

Tether reserves Tether Counted Securities Issued by Chinese Firms Among Its Reserves: Bloomberg News

Tether Holdings Ltd. at one point counted securities issued by Chinese companies among the reserves backing its USDT stablecoin, according to Bloomberg News.

16.06 / 04:45

Blockchain defi Payments Digital Asset Digital Asset Management FinTech Deal Prime Trust subsidiary Banq files for bankruptcy amid BitGo acquisition deal

The payments subsidiary of crypto custodian Prime Trust, Banq, filed for bankruptcy protection in the United States on June 13, court documents show..

16.06 / 02:30

business regulation CoinEx New York bans CoinEx exchange, seizes $1.7M in crypto assets

Hong Kong-based crypto exchange CoinEx has been banned from operating in New York by Attorney General Letitia James. According to an announcement on June 15, over $1.7 million worth of the exchange's funds were seized for allegedly failing to register as a securities and commodities brokerage.

08.06 / 22:53

business wallet BitGo Crypto custodian BitGo signals intent to acquire Prime Trust

Wallet infrastructure provider and digital asset custodian BitGo have signed a non-binding letter of intent to acquire fintech infrastructure provider Prime Trust, according to an announcement on June 8.

08.06 / 09:05

NFT defi US federal court dismisses lawsuit against DeFi platform PoolTogether

A United States federal judge has recently dismissed the lawsuit against the decentralized finance (DeFi) platform PoolTogether. According to the ruling, the federal court system is not the correct place to air out concerns against the DeFi startup.

31.05 / 17:35

Government regulation Signature Bank Former House Rep blames industry outsiders for associating crypto with bank's failure

Barney Frank, a former member of the United States House of Representatives and board member of Signature Bank, has pointed fingers at certain members of the public in the wake of the bank’s collapse.

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.

17.05 / 18:07

Stablecoin regulation legislation House Financial Services hearing Stablecoin Bill Rep. Maxine Waters Ushers In Stablecoin Bill Ahead of Thursday House Hearing

Rep. Maxine Waters is ushering in a draft bill to regulate stablecoins ahead of a House hearing this week.

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.

08.05 / 14:57

UPS Kucoin Digital Platform Action Hallmark crypto law New York AG proposes crypto law to take on 'rampant fraud'

James says the crypto sector lacks robust regulations, making it prone to dramatic market fluctuations and a tool to hide and facilitate criminal conduct and fraud. The crypto regulation, protection, transparency, and oversight (CRPTO) Act would require independent public audits of cryptocurrency exchanges and prevent individuals from owning the same companies, such as brokerages and tokens, to stop conflicts of interest.

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 / 09:13

NFTS Legal First NFT Insider-Trading Trial Results in Guilty Verdict for Ex-Opensea Manager

Former OpenSea product manager Nathaniel Chastain has been found guilty of wire fraud and money laundering in the first insider-trading trial involving non-fungible tokens (NFTs).

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.

27.04 / 23:51

regulation SEC coinbase security Coinbase execs respond to SEC's Wells notice in person and on video

Executives of cryptocurrency exchange Coinbase took their company’s regulatory issues to the public on April 27, with chief legal officer Paul Grewal speaking at Consensus 2023 and appearing with CEO Brian Armstrong in a video released on YouTube.

20.04 / 04:11

Law regulation FTX Silvergate Bankruptcy Signature Bank lawsuits Multiple Silvergate lawsuits over alleged FTX ties combined by judge

A California judge has combined three investor lawsuits against defunct crypto bank Silvergate Bank involving the bankrupt crypto exchange FTX.

18.04 / 09:31

Ethereum ETH BTC Remark CME Bitcoin Bitcoin Price and Ethereum Prediction: BTC Rebounds Above $29,250, Will ETH Follow Suit?

Bitcoin, the leading cryptocurrency globally, experienced a reversal on Tuesday as it fell slightly from $30,500 to $29,300. Despite a gain of over 10% in the past week, Bitcoin's upward momentum seems to have come to an end. Moving forward, the traders are cautious to pace any big bids as investors await the release of the Fed's next meeting in May.

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.

17.04 / 17:53

regulation fees BItlicense NYDFS Costs NYDFS adopts regulation to assess supervisory costs for licensed crypto firms

The New York State Department of Financial Services, or NYDFS, has adopted a regulation that will allow the government agency to assess supervisory costs from licensed crypto firms operating in the state.

17.04 / 15:31

Stablecoin regulation Circle USDC hearing USDC Issuer Circle Exec to Testify at US Congressional Hearing on Stablecoins

Circle, the US company behind the popular stablecoin USDC, is set to testify in a Congress hearing on Wednesday about stablecoin regulation in the US.

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