Category Archive: Cryptocurrency, No picture
Celsius to Liquidate Altcoin Holdings to Repay Creditors
Celsius, one of the industry’s several bankrupt cryptocurrency lenders, has been given the green light to start liquidating its altcoin holdings on July 1, according to a ruling on June 30. Starting July 1, the decision comes as the company, which declared bankruptcy last year, prepares to distribute repayments to its creditors exclusively in Bitcoin […]
South Korean Passes New Crypto Legislation in the Wake of Terra
Over one year after the collapse of Do Kwon’s Terra empire, South Korea is taking decisive action. The government has passed a groundbreaking piece of legislation, the Virtual Asset User Protection Act, aimed at protecting investors from the fallout of such catastrophic events, according to a report from Bloomberg. This legislation sailed through the National […]
UK Law to Regulate Crypto Awaits King Charles’ Signature
The UK government is nearing final approval of a bill that would bring cryptocurrencies under the same rules as traditional assets. The Financial Services and Markets Bill, which was approved by the House of Lords on June 19, is now awaiting royal assent, meaning that the last step is the signature of King Charles: #HouseOfLords […]
SEC’s Gensler Needs to Step Aside: Blockchain Association
The Blockchain Association, a leading group in the digital asset industry, has made a bold call for Gary Gensler, the Chair of the United States Securities and Exchange Commission (SEC), to recuse himself from any decisions concerning enforcement actions that involve digital assets as securities. The paper, written by Jake Chervinsky and Marisa Coppel, states […]
Coinbase Argues ‘Abuse of Process;’ Seeks to Dismiss SEC Case
In a bold move against the U.S. Securities and Exchange Commission (SEC), Coinbase has filed a motion to dismiss its SEC’s lawsuit. The motion, filed on June 29 in the U.S. District Court for the Southern District of New York, challenges the SEC’s interpretation of securities laws and suggests the agency may be overstepping its […]
Binance Loses Another Banking Partner Amid Global Regulatory Storm
Binance, the industry’s biggest cryptocurrency exchange, is set to lose the support of its current euro banking partner, Paysafe Payment Solutions. The exchange has notified its users via email that Paysafe’s euro support will terminate after September 25, 2023. The exchange is planning to transition to a new service provider for euro transactions via SEPA […]
KuCoin Announces Upcoming KYC Authentication Requirements
KuCoin, a leading cryptocurrency exchange with over 27 million users around the world, has announced an immediate upgrade to its Know Your Customer (KYC) verification protocols. This move, effective from July 15, 2023, is aimed at aligning with global compliance norms, creating a safer trading environment and enhancing the security of user accounts. Johnny Lyu, […]
Japan Joins Singapore’s Project Guardian in Global FinTech Collaboration
The Japan Financial Services Authority (FSA) joins the list of financial institutions to be taking a collaborative role in Project Guardian, a digital assets initiative launched by the Monetary Authority of Singapore (MAS). Japan joins HSBC, the Bank for International Settlements (BIS) and other industry leaders thanks to the 2017 Co-operation Framework with Singapore, aimed […]
Bitfinex Unveils P2P Trading Platform in Latin America
Bitfinex, a digital asset trading platform, is continuing to foster financial self-reliance and accessibility in Latin America. With the initiative Bitfinex P2P, users in Venezuela, Argentina, and Colombia can start easily trading peer-to-peer: “By offering a reliable and efficient platform for P2P token trading, we are empowering our customers to engage with the marketplace in […]
EU Wants Unbacked Crypto Out of TradFi Institutions
The EU is charting new territory with its advanced bank capital policy, which now includes regulations for digital currencies. The policy development emerged from a meeting involving the European Parliament, Member-State governments and the European Commission: On Tuesday 27/06 @EP_Economics negotiators struck a dealon changes to Capital Requirements Regulation & Directive #CRR & #CRD @jonasfernandez […]
