Regulation Financial News

Brian Armstrong, CEO of crypto exchange Coinbase, thinks that his company made the right decision to comply with United States money transmitter licensing laws.

The United States Department of Justice announced it had seized roughly $9 million worth of USDT (USDT) following Tether freezing funds connected to a criminal organization responsible for romance scams.

Crypto markets were subjected to a heavy dose of volatility on Nov. 21 as the United States Department of Justice (DOJ), Commodity Futures Trading Commission (CFTC) and U.S. Treasury announced a $4.3-billion settlement with Binance and that former Binance CEO Changpeng Zhao will plead guilty to one felony charge as part of a settlement over criminal and civil cases with the cryptocurrency exchange. 

Binance has named its head of regional markets outside of the United States, Richard Teng, as its new CEO. The change comes as founder and former CEO Changpeng “CZ” Zhao has resigned and pleaded guilty to charges levied against him by the U.S. Department of Justice. 

A federal court has released the indictments against Binance and CEO Changpeng “CZ” Zhao filed under seal on Nov. 14, in which the United States government said it expected the cryptocurrency exchange and CZ to enter guilty pleas. 

Officials with the United States Department of Justice announced that Binance CEO Changpeng “CZ” Zhao will plead guilty to one felony charge as part of a settlement over criminal and civil cases with the exchange.

Binance and its founder Changpeng"CZ" Zhao has admitted to violating United States laws around money laundering and terror financing — agreeing to pay $4.3 billion in fines

A wave of optimism around the potential approval of a spot Bitcoin exchange-traded fund (ETF) in the United States has ignited bullish price action in the crypto market in recent weeks. 

The proposal could lead to reduced or increased fees, as a result, depending on the business.

Tether’s bank partner Britannia Financial is reportedly facing a lawsuit over claims it failed to pay the full price of revenue-generating assets allegedly related to a large deposit from Tether.

Crypto community members on X (formerly Twitter) have turned their focus to a $3.9 billion Tether (USDT) transaction between Binance wallets that surfaced on social media following reports claiming the United States Department of Justice (DOJ) is negotiating a $4 billion settlement with the company. 

The crypto space has been making its feelings known about a lawsuit filed by the United States Securities and Exchange Commission (SEC) against the crypto exchange Kraken. 

BNB (BNB) has gained over 7% in the last day after Bloomberg reported that the United States Department of Justice is contemplating a $4 billion settlement with Binance to resolve its investigation into the company.

Kraken co-founder Jesse Powell has lashed out at the Securities and Exchange Commission after it sued his crypto exchange for alleged securities law violations. 

The Blockchain Association has thrown fresh support behind six plaintiffs suing the United States Treasury Office of Foreign Assets Control (OFAC) over its sanctions on the crypto mixer Tornado Cash.

The United States Securities and Exchange Commission (SEC) has sued Kraken alleging it commingled customer funds and failed to register as a securities exchange, broker, dealer, and clearing agency with the regulator.

The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion received an education in the uses of blockchain technology in a hearing titled “Crypto Crime in Context: Breaking Down the Illicit Activity in Digital Assets.” The meeting began with a discussion of Hamas’s use of crypto for fundraising. However, the committee’s Chair, Representative French Hill, declared that as “phone and the internet aren’t to be blamed for terror financing,” crypto shouldn’t be either. The witnesses, including representatives from Consensys and Chainalysis, spoke about the need for international and public-private collaboration in stopping the misuse of digital assets, the need for well-crafted legislation and the intricacies of blockchain sleuthing.

Canada’s Office of the Superintendent of Financial Institutions (OSFI) has opened a consultation period on crypto-asset disclosure requirements for federally regulated financial institutions. The consultation was foreseen in the 2023 federal budget, but its timing is tied to a similar inquiry initiated by the Bank for International Settlements (BIS).

The US Justice Department is negotiating with Binance in an attempt to resolve its investigation into the company, according to a November 20 report from Bloomberg citing people familiar with the discussions. The agreement would require Binance to pay $4 billion in fines. In return, the company would be allowed to keep operating while complying with US laws. According to the report, the announcement of an agreement “could come as soon as the end of the month.”

Proprietary trading system operator Osaka Digital Exchange (ODX) is set to kickstart the trading of digital securities in Japan through security tokens issued by two real-estate firms to fill the demand for alternative assets. 

ARK Investment Management, a major cryptocurrency investment firm founded by Bitcoin (BTC) advocate Cathie Wood, isn’t giving up on its efforts to launch a spot Bitcoin exchange-traded fund (ETF) in the United States.