Regulation Financial News
13.08 / 03:55
13.08 / 01:13
regulation
Money laundering
Indian
freeze
Indian authorities freeze more crypto funds over money laundering allegations
India’s Directorate of Enforcement (ED) announced Friday that it has frozen the financial accounts of Bengaluru-based financial services company Yellow Tune Technologies, some of which were held by Flipvolt crypto exchange, the Indian branch of Singaporean Vauld. The move is linked to an ongoing investigation into money laundering by China-linked instant loan companies. This is the second time this week the agency has taken action in the crypto sphere in connection with that case.
12.08 / 22:13
12.08 / 21:31
Binance
regulation
Huobi
Asia
foreign
Uzbekistan blocks access to foreign crypto exchanges over unregistered trading
The government of Uzbekistan, which has previously made significant steps toward a moderate approach to crypto, announced Wednesday that it has restricted access to a number of large international crypto exchanges due to accusations of unlicensed activity.
12.08 / 14:49
business
regulation
coinbase
S&P Global downgrades Coinbase credit rating for weak Q2 earnings, competitive pressures
Major American cryptocurrency exchange Coinbase saw its long-term issuer credit rating downgraded from BB+ to BB status by rating agency S&P Global following its latest earnings report this year.
12.08 / 14:23
12.08 / 08:55
regulation
Investments
ASIC
ASIC chair troubled by sheer amount of ‘risk-taking’ crypto investors
The chief of Australia’s financial services regulator Joe Longo has raised the alarm over the sheer amount of people that invested in “unregulated, volatile” crypto assets during the pandemic.
12.08 / 01:37
Blockchain
Technology
defi
regulation
DeFi platform Oasis to block wallet addresses deemed at-risk
According to a new community Discord post on Thursday, decentralized finance platform Oasis.app says that sanctioned addresses will no longer be able to access the application. As a result of the change to the terms of service, wallets flagged as high risk are prohibited from using Oasis.app to manage positions or withdraw funds. Instead, such category of users must interact directly with the relevant underlying protocol where funds are stored or find another service.
12.08 / 00:39
Law
regulation
AIM
UNCTAD takes aim at crypto in developing world in a series of critical policy briefs
The United Nations Conference on Trade and Development (UNCTAD) released a policy brief Wednesday on cryptocurrency. It is the third brief in a row the agency has dedicated to crypto, and together they represent a detailed assessment of the risks crypto presents for developing economies and options for resolving those risks.
12.08 / 00:37
Law
regulation
Trading
stocks
class action
Robinhood to face class action lawsuit from meme stock debacle: Report
Cryptocurrency and stock trading platform Robinhood will allegedly face allegations of market manipulation as part of a class-action lawsuit brought by investors in “meme stocks” from nine different companies during a January 2021 rally.
11.08 / 18:41
Government
regulation
crypto legislation
Financial
South Korea's financial watchdog wants to 'quickly' review crypto legislation: Report
The chair of South Korea’s Financial Services Commission said the regulator plans to expedite its review of 13 bills pending in the country’s National Assembly related to digital assets.
11.08 / 12:13
Law
defi
regulation
class action
Crypto products
Mark Cuban faces class action lawsuit for promoting Voyager crypto products
Mark Cuban, the billionaire entrepreneur who has been quite active in the crypto ecosystem for the past year, is facing a class-action lawsuit over his promotions of the bankrupt crypto brokerage firm Voyager Digital.
11.08 / 00:29
business
Blockchain
regulation
Coinsquare chief operating officer shares thoughts on being the first regulated crypto dealer exchange in Canada
It's a story that still haunts the early generation of Canadian crypto users to this day. Four years prior, Gerald Cotten, co-founder of Canada's then-largest cryptocurrency exchange QuadrigaCX, died under mysterious circumstances in India. But, before his passing, Cotten took virtual keys for digital wallets and moved them into cold storage, leading to the permanent loss of $190 million in user funds.
10.08 / 23:55
CFTC
regulation
OTC
reports
SBI Group reports investee getting CFTC approval for OTC derivatives trading in US
The United States subsidiary of electronic trading platform developer Clear Markets has reportedly received approval from the Commodity Futures Trading Commission, or CFTC, to offer over-the-counter crypto derivatives products with physical settlement.
10.08 / 22:35
Blockchain
regulation
Customer
Crypto exchange Hotbit says it froze customer funds due to alleged criminal ties of formal employee
On Thursday, cryptocurrency exchange Hotbit said it "suspended trading, deposit, withdrawal and funding functions," with no timeframe for resumption. In explaining the decision, Hotbit stated:
10.08 / 20:03
CFTC
regulation
SEC
CFTC and SEC propose amending reporting rules for large hedge funds on crypto exposure
The United States Securities and Exchange Commission, or SEC, and the Commodity Futures Trading Commission, or CFTC, has proposed requiring large advisers to certain hedge funds to report any exposure to digital assets.
10.08 / 14:09
business
Law
regulation
California
California regulator orders Celsius to stop selling securities in the state
The Department of Financial Protection and Innovation of California (DFPI) continues to bring actions against crypto interest account providers, failing to comply with the local law. After commanding BlockFi and Voyager to stop their offerings in the state, the DFPI issued a desist and refrain order to crypto lending firm Celsius.
10.08 / 13:21
regulation
lending
Bankruptcy
Voyager Digital reportedly had deep ties with SBF-owned Alameda Research
Voyager Digital, the crypto lending firm that went bust due to the crypto contagion initiated by Three Arrow Capital’s (3AC) insolvency is currently fighting its bankruptcy court battle. The court proceedings and financial documents have shown a deep relation between the crypto lending firm and Sam Bankman Fried-owned Alameda Research.
10.08 / 08:19
CBDC
regulation
Bitcoin Regulation
end
Iran makes $10M import with crypto, plans 'widespread' use by end of Sept
Struggling through decades of economic sanctions, Iran has placed its first international import order using $10 million worth of cryptocurrency, according to a senior government trade official.
09.08 / 23:31
business
Blockchain
regulation
privacy
Anonymous user sends ETH from Tornado Cash to prominent figures following sanctions
On Tuesday, one day after the U.S. Treasury sanctioned cryptocurrency mixer Tornado Cash for its alleged role in cryptocurrency money laundering operations, intervals of 0.1 Ether (ETH) transactions began materializing from the smart contract to prominent figures such as Coinbase CEO Brian Armstrong and American television host Jimmy Fallon. It is not possible to trace the source of the transactions per Tornado Cash design, and as a result, either one individual or multiple individuals or entities could be involved in the operation.
09.08 / 20:25
Blockchain
regulation
privacy
debate
Alchemy and Infura block access to Tornado Cash as Vitalik Buterin weighs in on debate
According to Twitter user @0xdev0, on Monday, Web 3.0 development platform Alchemy and Infura.io blocked remote procedure call (RPC) requests to cryptocurrency mixer Tornado Cash, preventing users from accessing the applications. The day prior, the U.S. Treasury placed 44 smart contract addresses linked to Tornado Cash in the Specially Designated Nationals and Blocked Persons (SDN) list. U.S. persons and entities are prohibited with blockchain or business interactions with Tornado Cash under such sanctions, with the possibility of criminal liabilities for violations.
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