Binance is under investigation by the US Justice Department over potential breaches of sanctions involving Russia. The probe is centered on whether Binance or its executives violated any sanctions related to Russia’s invasion of Ukraine, Bloomberg reported Friday, citing people familiar with the matter. The criminal division of the Justice Department is spearheading the probe, with a…
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Under a bill proposed by New York Attorney General Letitia James, crypto exchanges could be required to reimburse users who were the victims of fraud. Letitia James has reportedly proposed legislation that would give the New York Attorney General’s office more authority to regulate the crypto industry. In a May 5 announcement, the NY AG’s…
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The UK’s financial regulator, along with local police, descended upon illegally operated cryptocurrency automatic teller machines (ATMs) as part of a continued crackdown. The Financial Conduct Authority inspected sites in Exeter, Nottingham and Sheffield to stop the illegal activity, the regulator said in a statement on Friday…. Read More: UK Regulator Descends Upon Illegal Crypto…
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The US Justice Department is investigating whether Binance Holdings Ltd. was illegally used to let Russians skirt US sanctions and move money through the cryptocurrency exchange, according to a report from Bloomberg News. The Justice Department’s national security division is looking into whether Binance or company officials acted improperly regarding sanctions related to Russia’s invasion…
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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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The FCA’s actions followed similar operations in East London and Leeds, where the regulator said it had issued warnings or cease-and-desist requests to suspected ATM operators. The United Kingdom’s Financial Conduct Authority, or FCA, has announced the inspection of sites across the country “suspected of hosting illegally operated crypto ATMs.” In a May 5 announcement,…
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Leading cryptocurrency exchange Binance has responded to a Reuters report that raised questions about its compliance policies for preventing and tackling cryptocurrency-based financing of terrorism. The exchange said it takes the issue very seriously and is not aware of any exchange, or other financial institution, that does more today to keep bad actors off their…
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The judge said he read all the papers and declarations related to the FTX debtors’ motion for the sale of LedgerX and was “satisfied” with the proceedings. The judge presiding over crypto exchange FTX’s bankruptcy case has given the green light to a motion allowing the sale of LedgerX. In a May 4 hearing in…
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The legislation includes revisions to laws aimed at prohibiting discriminatory electrical rates for mining firms and not allowing taxation for crypto used as a method of payment. Greg Gianforte, the governor of Montana, has signed into law a bill largely preventing local governments in the state from passing laws prohibiting cryptocurrency mining. According to records…
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