Coinbase’s chief legal officer called a newly proposed US rule tightening cryptocurrency custody requirements “misguided” and said some parts need to be changed. The Securities and Exchange Commission rule was proposed in February and would require registered investment advisers to keep crypto with a qualified custodian, which would mandate certain requirements such as segregating investors’…
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Former CEO of crypto exchange FTX, Sam Bankman-Fried, has asked a judge in the U.S. to dismiss several charges against him filed after his extradition from the Bahamas. His lawyers insist that prosecutors have not obtained consent from Bahamian authorities for the additional counts. FTX’s Sam Bankman-Fried Urges Court to Drop Post-Extradition Charges Attorneys representing…
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Binance has announced its intention of implementing Lightning Network, a layer 2 Bitcoin scaling protocol, on its platform after experiencing an episode of congestion regarding withdrawals on the Bitcoin network. The exchange had to pause bitcoin withdrawals twice due to a large backlog of operations stuck as a consequence of high transaction fees.
Binance…
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Cryptocurrency exchange Binance is facing a U.S. probe over suspected violations of sanctions against Russia, according to a media report. The inquiry is looking into whether the trading platform was used by Russians to circumvent financial restrictions imposed over Moscow’s invasion of Ukraine. Crypto Exchange Binance Faces Another US Probe, Sources Say The U.S. Department…
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New York Attorney General Letitia James proposed legislation that would require refunds of customers and audits of cryptocurrency exchanges in her latest move to rein in the industry. James’ program bill proposes the “strongest and most comprehensive set of regulations on cryptocurrency in the nation,” according to a statement released by her office on Friday. ……
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Supported by U.S. law enforcement, police in Ukraine have disrupted a network of crypto exchange services suspected of laundering criminal proceeds. The platforms were allegedly processing dirty money obtained from ransomware attacks and various fraud schemes. Cyberpolice, US Investigators Bust Crypto Exchanges in Ukraine Officers from Ukraine’s Cyberpolice unit and Main Investigative Department, working with…
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The Nasdaq-listed cryptocurrency exchange Coinbase has been accused of “wrongfully” profiting from its users’ facial and fingerprint scans. “Coinbase collects, stores, possesses, otherwise obtains, uses, and disseminates its users’ biometric data to, amongst other things, further enhance Coinbase and its online ‘app-based’ Platform,” a proposed class action lawsuit details. Coinbase ‘Wrongfully Profits’ From Users’ Facial…
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The authorities claimed the exchanges allowed cybercriminals to flout anti-money laundering measures. Nine digital currency exchanges allegedly aiding and abetting cybercriminals had their domains seized by the United States Federal Bureau of Investigation and Ukrainian law enforcement. According to a May 1 press release, the FBI’s Detroit Field Office and the National Police of Ukraine…
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The price of the meme token has surged by over 2,000% in the past two weeks. On May 1, cryptocurrency exchange OKX announced that it would be listing meme token Pepe at 17:00 Hong Kong Time (HKT) and open Pepe withdrawals on May 2 at 17:00 HKT. In supporting the listing decision, OKX staff wrote: …
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After the American financial technology giant Paypal rolled out crypto payments last year, the company is now introducing cryptocurrency transfer services to Venmo users. The firm detailed that Venmo customers will be able to send funds to an existing Paypal account, an external wallet, or a crypto exchange platform. Venmo Customers Can Now Transfer Cryptocurrency…
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