Category Archive: Cryptocurrency, No picture
Binance Prohibited from Operating in Belgium, Effective Immediately
Key Takeaways Belgium’s financial authority accused Binance of operating outside of European Economic Area countries, which is illegal in Belgium. Binance will have to halt services immediately while it works on complying with Belgium laws, as well as be in accordance with the upcoming MiCA regulations. Belgium’s Financial Services and Markets Authority (FSMA) has ordered […]
Crypto.com Secures Regulatory Approval in Spain
Crypto.com, a cryptocurrency exchange servicing over 50 million customers, announced on Friday that it has successfully secured its virtual asset service provider (VASP) registration from the Bank of Spain. This registration, achieved after a rigorous evaluation of its compliance with the Anti-Money Laundering Directive (AMLD) and other finance-related laws, also involved a review of its […]
Binance Faces Pyramid Scheme Allegations in Brazil
Brazilian Deputy Alfredo Gaspar has called for Guilherme Haddad, the head of Binance Brazil, to testify before parliament in a probe into suspected pyramid schemes in the nation. The Parliamentary Commission of Inquiry (CPI) is set to decide on Gaspar’s June 21 request on June 27. Haddad may be obliged to answer questions before the […]
Monetary Authority of Singapore Unveils Programmable Digital Money Plans
The Monetary Authority of Singapore, the Bank of Italy, the Bank of Korea and the International Monetary Fund has released a white paper exploring the concept of Purpose-Bound Money (PBM) and its potential applications. According to the white paper, PBM is a form of digital currency that can be programmed for specific uses at any given […]
IMF Unveils Plans for Global CBDC Platform
In a speech delivered during a high-level policy roundtable today, the International Monetary Fund (IMF) and Bank Al-Maghrib called for a strategic shift toward a global central bank digital currency (CBDC) to enhance global payments infrastructure among users for digital assets. Tobias Adrian, financial counselor and director of the Monetary and Capital Markets Department of […]
Do Kwon Guilty of Passport Forgery; Sentenced to 4 Months in Montenegrin Prison
Key Takeaways Do Kwon and Han-Chang joon were sentenced to four months in prison in Montenegro for document forgery. Montenegro police confiscated two Costa Rican passports, two Belgian passports and two identification cards. A High Court of Podgorica told CoinDesk that the two will be held for an additional six months for “extradition custody.” Do […]
Binance to Exit the Netherlands After Regulatory Stalemate
Key Takeaways Binance will leave the Netherlands because it has failed to obtain a VASP after failing to comply to AML standards. Binance, the world’s leading cryptocurrency exchange, is set to withdraw from the Netherlands after failing to secure necessary approval from the Dutch financial regulator. The exchange was not able to obtain a virtual […]
Sam Bankman-Fried’s Original 8 Charges Remain; Will the Bahamas Follow?
Sam Bankman-Fried, the infamous cryptocurrency entrepreneur and former CEO of FTX, will stand trial on the original eight criminal charges, according to U.S. prosecutors. The move opens up the possibility for the Bahamas to bring forth any charges to the industry’s favorite former CEO. The trial is set to start on February 6, 2024, in […]
Bittrex Granted Permission to Honor Withdrawal Post-Bankruptcy
United States District Court for the District of Delaware has authorized customers of Bittrex, a now-defunct cryptocurrency exchange, to withdraw cryptocurrency assets and fiat currency starting on June 15. Bittrex filed for Chapter 11 bankruptcy on May 8 following a lawsuit with the SEC, which claimed that the bankrupt platform was operating as an unregistered securities exchange […]
SEC Emails Reveal: Hinman Wasn’t Only Official Deliberating ETH Security
Key Takeaways After giving the green light to use Bill Hinman’s speech in court, Ripple revealed SEC emails surrounding Hinman’s speech. The deliberation about ETH being a security suggest that other SEC officials were used as guidance. Recently released email exchanges from 2018 reveal that multiple U.S. Securities and Exchange Commission (SEC) officials were in […]
