Hong Kong has set its sights on becoming a major crypto hub as the region actively promotes the development of Web3. The Securities and Futures Commission (SFC), the country’s main financial regulator, is ostensibly accompanying this ambition with plans to regulate the crypto space by granting licenses for retail crypto exchanges. As of late, Hong Kong has also…
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District Judge Analisa Torres has granted the request by the U.S. Securities and Exchange Commission (SEC) seeking to file an interlocutory appeal in the Ripple case over XRP. Judge Torres’ approval came one day after Ripple Labs filed its objection to the SEC’s request. Judge Approves SEC’s Request in Ripple-XRP Case The U.S. Securities and…
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A significant portion of scam money is getting laundered through cryptocurrency exchanges, the CEO of the Australian Banking Association has alleged. The Australian Financial Crimes Exchange said as much as 47% of all fraud and financial scam proceeds in the country are washed on crypto exchange platforms. Crypto a ‘Getaway Vehicle for Scam Money’ According…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Stellar Buys Minority Stake in MoneyGram, Adidas and BAPE Reveal Limited Sneakers Auctioned via NFT Passes, Three Key Silvergate Execs Set to Leave the Company Read more »Sign…
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U.S. lawmakers are probing the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) regarding the “shady approval” of Prometheum “as the first and only special purpose broker-dealer for digital assets.” They raised concerns about the timing and circumstances surrounding the approval, noting that Prometheum has no customers, operational history, and track…
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According to Jeremy Koven, Canadian crypto firms may have a better regulatory environment than ones in the United States, benefitting users in a number of ways. Jeremy Koven, the president of Canada-based crypto exchange CoinSmart and president at WonderFi, pointed to areas of concern for crypto firms in the United States looking for regulatory clarity…
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The digital asset trust firm Bitgo, headquartered in Palo Alto, California, has secured $100 million in a Series C funding round. While the company remains tight-lipped about the participants in this financial endeavor, this fresh infusion of capital catapults the firm’s post-valuation to $1.75 billion. Bitgo Raises $100 Million From Undisclosed Investors Bitgo has successfully…
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The Monetary Authority of Singapore (MAS) unveiled regulations aimed at ensuring the value stability of each stablecoin regulated in the city-state. Under the new rules, issuers that want their fiat-pegged tokens to be labeled as “MAS-regulated” will have to meet certain requirements. Singapore to Require Stablecoin Issuers to Maintain Minimum Base Capital and Liquid Assets…
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The U.S. Securities and Exchange Commission’s former head of internet enforcement has outlined potential changes in the U.S. and at the SEC that could have positive impacts on the crypto industry, including the approval of spot bitcoin exchange-traded funds (ETFs). The changes could include a Republican president being elected, SEC Chairman Gary Gensler resigning, and…
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Members of the House Financial Services Committee questioned the “timing and circumstances” of FINRA approving Prometheum’s special purpose broker-dealer license in May. United States lawmakers on the House Financial Services Committee have demanded answers from the heads of the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regarding how Prometheum obtained a…
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