2 / 4 Relevant items tagged with #Compliance
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47 Companies Apply to Operate in Turkey Under New Crypto Regulations
[Aug 12 3:30 AM] Turkey’s Capital Markets Board has issued an update on crypto asset service providers following new regulations. The provisional lists include 47 operational companies and three that are planning to liquidate. Current crypto service roviders are…
IRS Unveils Overhauled Crypto Tax Form With No Address Disclosure Requirements
[Aug 10 6:05 PM] The U.S. Internal Revenue Service (IRS) has unveiled an updated Form 1099-DA for reporting digital asset transactions, introducing key changes that may address past criticism and privacy issues. This new version, reportedly set to be partially…
DOJ Launches Whistleblower Awards Program to Tackle Crypto Crimes
[Aug 2 9:18 PM] The U.S. Department of Justice (DOJ) has initiated a Corporate Whistleblower Awards Pilot Program to encourage reporting of corporate criminal activities. This three-year program targets financial institutions, including cryptocurrency businesses…
EU AI Act comes into effect — Here’s what to expect
[Jul 31 12:32 PM] The European Union’s AI Act takes effect on Aug. 1. It introduces significant regulations for artificial intelligence through phased implementation and key compliance obligations.
Crypto Exchange Gate.io Exits Japan
[Jul 23 4:53 AM] Crypto exchange Gate.io has terminated its services in Japan, it announced on Monday, suggesting a lack of compliance in the nation.
Seven Years of Binance: CEO Richard Teng Shares Insights on Achievements and Future Goals
[Jul 12 3:30 PM] Binance is celebrating its seventh anniversary, reflecting on its growth and achievements in the rapidly evolving cryptocurrency industry. In an open letter, Binance CEO Richard Teng shared his insights and perspective on the company’s journey and…
Hiro Systems Applauds SEC Decision to Close Stacks Investigation
[Jul 12 8:48 AM] The U.S. Securities and Exchange Commission (SEC) has concluded its investigation into Stacks, a Bitcoin scaling network, and its original developer, Hiro Systems, with no recommended enforcement actions. This investigation began in 2021 despite…
Federal Reserve Fines Citigroup $60.6 Million for Ongoing Risk Management Deficiencies
[Jul 10 3:31 PM] The U.S. Federal Reserve has imposed a $60.6 million fine on Citigroup for continued failures in its risk management and data quality practices. The enforcement action follows Citigroup’s insufficient progress in addressing deficiencies…
Cyprus calls for collective crackdown against crypto terror financing
[Jul 10 5:40 AM] The alert serves as a reminder of the critical role financial professionals play as gatekeepers in the fight against financial crime.
Binance.US ‘prepared’ for SEC legal showdown
[Jul 2 1:59 AM] Binance.US is gearing up for an extended legal battle with the SEC, emphasizing its commitment to compliance and criticizing the agency’s enforcement tactics.
Cryptocurrency Firm Abra Settles With 25 US States Over Licensing Violations
[Jun 26 1:45 PM] Financial authorities in 25 U.S. states have reached a settlement with the cryptocurrency investment platform Abra and its CEO Bill Barhydt for operating without proper licensing. This settlement mandates significant changes in how Abra conducts…
Hong Kong targets DeFi, metaverse for fintech expansion
[Jun 26 2:57 AM] Despite challenges in the current DeFi and metaverse landscape, the reports highlight potential growth and innovation in these emerging sectors.
Federal Watchdogs Flag 4 Major US Banks for Lack of Crisis Management; Demand Living Will Revisions
Binance fined $2.25M by India’s Financial Intelligence Unit
[Jun 20 12:56 AM] India’s financial watchdog issued charges against Binance after reviewing written and oral submissions from the Binance director and available company records.
Crypto Friendly Evolve Bank Under Scrutiny: Cease and Desist Order Issued
[Jun 15 7:20 AM] The Federal Reserve and Arkansas State Bank Department have mandated sweeping reforms at Evolve Bank & Trust following significant compliance breaches. The order highlights issues in anti-money laundering efforts and consumer protection…
Swiss regulator forces crypto-friendly FlowBank into bankruptcy
[Jun 13 6:06 PM] The Swiss-based bank had ties to the TrueUSD stablecoin issuer, Techteryx, crypto asset manager CoinShares and reportedly Binance.
Politicians urge Biden to bring back Binance exec from Nigeria
[Jun 4 6:59 PM] The U.S. politicians have accused Nigeria’s government of charging Gambaryan, a Binance compliance officer and former federal agent, with “baseless” crimes.
Coinbase Challenges SEC’s Rulemaking Process, Argues for Clear Regulations on Digital Assets
[Jun 1 6:22 AM] Coinbase, Inc. has escalated its dispute with the Securities and Exchange Commission (SEC) by filing a reply brief in the Third Circuit Court of Appeals, arguing the necessity of clear rulemaking for the digital asset industry. The case underscores…
Binance helps Taiwan solve $6.2M crypto fraud
[May 17 4:58 AM] Working with Binance, Taiwan prosecutors pieced together the evidence, resulting in the indictment of nine individuals for financial crimes, including money laundering and fraud.
Prometheum's Contentious Answer to Crypto Compliance Is Running Late
[May 9 10:27 AM] Much of the crypto sector has been apprehensive about the ribbon cutting on Prometheum's custody and trading operations, which the firm said will fully comply with U.S. Securities and Exchange Commission (SEC) demands. The doors have so far stayed…
House Approves Resolution to Overturn SEC’s Crypto Rules — Biden Threatens to Veto
[May 9 9:15 AM] The U.S. House of Representatives has passed H.J. Res. 109, a resolution aimed at overturning the Securities and Exchange Commission’s SAB 121 regulations on digital assets. The resolution seeks to reduce regulatory burdens and promote safer…
Coinbase Legal Chief Urges SEC Chair to Stop Misleading the Market About Crypto Tokens Being Securities
SEC files final response in Ripple XRP case
[May 8 1:30 AM] The SEC argues that Ripple’s claims do not negate the need for injunctions to prevent future violations.
Nigerian officials proposed secret crypto settlement, claims Binance CEO
[May 7 3:33 AM] Binance CEO Richard Teng says the Nigerian government has set a dangerous precedent after inviting company executives to meetings before detaining them.
Bitcoin privacy will survive despite CoinJoin closure — zkSNACKs CEO
[May 6 3:28 AM] The impending closure of zkSNACKs’ CoinJoin service has been described as a setback for Bitcoin developers and privacy proponents.
Where BlackRock Goes, Liquidity Flows
[Apr 3 12:30 PM] BlackRock and Securitize’s new digital assets fund is a game-changer for tokenization and the wider regulated market, says Peter Gaffney, head of research at Security Token Advisors.
OKX’s Global Compliance Chief Left After Six Months
[Mar 28 9:56 AM] Patrick Donegan, whose LinkedIn profile says he managed a team of 300 people around the world, was at OKX from August 2023 to January 2024.
Crypto Compliance Platform Keyring Raises $6M to Unlock DeFi for Institutions
[Mar 19 2:00 AM] The company allows institutional investors to comply with regulations when interacting with DeFi, and recently facilitated a proof of concept trial with Nomura's crypto arm Laser Digital by building a compliance wrapper on top of USDC stablecoin.
India's Local Crypto and Web3 Advocacy Body Asked for Action Against Offshore Entities: Source
[Dec 29, 2023 9:49 AM] The Bharat Web3 Association's (BWA) Chairman wrote the letter to the Indian government on Dec. 16.