Regulation Financial News

03.03 / 19:59

regulation SEC Sec Chair SEC Chair Gensler Casts Doubt on Crypto Exchanges' Ability to Meet "Qualified Custodian" Standards – Here's Why

Crypto exchanges likely do not meet the requirements expected of a qualified custodian, Securities and Exchange Commission (SEC) chair Gary Gensler has said.

03.03 / 14:45

Blockchain regulation coinbase Gemini Paxos Asset management Coinbase cutting ties with Silvergate forces crypto hedge fund to find a new bank

The popular fintech bank Silvergate Bank lost five crypto partners on March 2, owing to a slew of investigations and lawsuits against it.

03.03 / 14:23

Payments regulation HSBC banking UK Regulator Warnings Prompt HSBC and Nationwide Banks to Limit Crypto Transactions

HSBC Holdings Plc and Nationwide Building Society imposed limits on retail customers' access to cryptoassets in another episode of UK banks reacting to the recent crypto industry legal and regulatory issues.

03.03 / 14:15

Digital regulation Brazilian Regulator Says New Crypto Laws Coming – Here’s What to Expect

The head of the Brazilian financial markets regulator says the body will roll out a “decree” in “the next few days” that will allow government-appointed bodies to better police the sector.

03.03 / 13:23

Law Adoption regulation DAO Lawyer services UAE free zone to explore Bitcoin payments for services, lawyer says

Ras Al Khaimah’s recently announced free zone for virtual asset firms will explore accepting crypto payments from companies looking into setting up their businesses in the emirate, a lawyer involved in the hub’s development said.

03.03 / 09:35

business regulation SEC coinbase Banks banking Digital Asset accounting lawmakers Customers U.S. lawmakers argue SEC accounting policy places crypto customers at risk

Two United States lawmakers have criticized crypto accounting guidelines outlined by the securities regulator, arguing it places crypto customers at greater risk of loss.

03.03 / 08:57

business Stablecoin Binance regulation SEC coinbase Paxos regulatory Binance USD market cap falls below $10B amid rising regulatory concerns

Binance USD (BUSD) market cap has fallen below $10 billion for the first time in almost two years amid a United States regulatory crackdown on its token issuer and a planned delisting from a major crypto exchange.

03.03 / 07:17

business regulation Court Bankruptcy Celsius Withdrawals freeze Customers Celsius Custody customers finally begin withdrawals 263 days after freeze

Some Celsius customers have reported being able to withdraw funds from the bankrupt crypto firm for the first time, some 263 days after the lender froze withdrawals in the lead-up to its bankruptcy filing.

03.03 / 01:43

Binance regulation Senate Sen. Elizabeth Warren and colleagues demand to see Binance’s balance sheets

Three United States senators led by Elizabeth Warren have sent a letter to Binance CEO Changpeng “CZ” Zhao and Binance.US CEO Brian Shroder expressing concern over a number of facets of Binance’s activities and requesting information from the companies that includes their balance sheets.

03.03 / 01:43

business regulation HSBC Banks UK banks HSBC, Nationwide to ban crypto purchases with credit cards: Report

United Kingdom babanks HSBC Holdings and Nationwide Building Society are banning cryptocurrency purchases via credit cards for retail customers. They join a growing list of banks in the country to tighten restrictions on digital assets.

03.03 / 01:43

regulation Investments SEC Sec Chair NOT SEC chair implies crypto exchanges may not be ‘qualified custodians’ as new rule is drafted

United States Securities and Exchange Commission Chair Gary Gensler spoke at a meeting of the commission’s Investor Advisory Committee on March 2 on the topic of asset custody. The committee has a proposed rule for investment advisers on safeguarding investor assets. It was the second statement Gensler has made on the proposed rule. The first was in mid-February when the rule was first proposed.

03.03 / 01:43

regulation Metaverse Congress Meta Meta Ceo lawmaker NOT US lawmaker behind crypto mining legislation urges Zuck not to offer metaverse to teenagers

Two United States senators have penned a letter asking Meta CEO Mark Zuckerberg to halt a plan to allow young adults to access the firm’s metaverse platform, Horizon Worlds.

02.03 / 22:53

Law regulation MicroStrategy Taxes tax evasion Michael Saylor is still on the hook for alleged tax evasion, says MicroStrategy filing

The Office of the Attorney General for the District of Columbia in the United States is moving forward on a lawsuit against business intelligence firm MicroStrategy executive chair Michael Saylor related to tax evasion.

02.03 / 22:53

CBDC regulation NOT Proposed South Dakota amendment to UCC would prohibit cryptocurrencies, but not CBDC

Legislation has been introduced in the American state of South Dakota to amend the Uniform Commercial Code (UCC) to limit the definition of money to exclude cryptocurrencies. Central bank digital currencies (CBDCs) would still be considered money under the proposed new definition.

02.03 / 17:27

business regulation coinbase banking Coinbase no longer accepts payments via Silvergate Bank

Cryptocurrency exchange Coinbase announced that it had terminated its partnership with Silvergate Bank as its United States dollar banking partner, citing an ongoing investigation. In a tweet, the exchange said:

02.03 / 14:31

Blockchain Binance regulation Binance custody partner clarifies Singapore licensing plans

Amid various reports about Binance trying to revive its crypto licensing plans in Singapore, the crypto exchange has come out to set the record straight. Binance told Cointelegraph that Ceffu, its "independent institutional custody partner," is the one looking to apply for an institutional crypto custody license when Singapore’s central bank opens up applications.

02.03 / 14:25

regulation SEC coinbase Coinbase CEO Brian Armstrong Criticizes SEC’s Approach to Staking – Here's What He Said

Coinbase CEO Brian Armstrong has warned that a hostile regulatory approach by the Securities and Exchange Commission could drive the crypto industry outside of the United States.

02.03 / 08:53

business regulation SEC Gemini Fraud Court Bankruptcy BlockFi execs, Gemini named in proposed lawsuit by a disgruntled investor

An investor with nearly $2 million worth of funds frozen in bankrupt cryptocurrency lender BlockFi has filed a class action complaint against its founders, two directors and crypto exchange Gemini.

02.03 / 04:31

defi CFTC regulation Decentralized finance to be examined at inaugural CFTC tech advisory meeting

The United States commodities regulator is set to take a close look at the decentralized finance (DeFi) space at an upcoming meeting of its tech committee, where it has also invited crypto industry executives to present.

02.03 / 00:51

regulation banking BIS prudential Crypto distribution is uneven among banks as prudential exposure rises: BIS report

Around 20% of banks have exposure to crypto assets, a Bank for International Settlements (BIS) report released Feb. 28 found. The majority of those banks are in the Western Hemisphere.

01.03 / 23:13

CFTC regulation SEC Fraud FTX SEC, CFTC press civil charges against former FTX exec Singh parallel to criminal case

Civil charges were announced against former FTX director of engineering Nishad Singh on Feb. 28, the same day he entered a guilty plea to three counts of criminal fraud in Manhattan district court. Both the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are pressing charges against Singh.

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