1 / 1 Relevant items tagged with #EnforcementAction

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CFTC chair says agency is ‘handcuffed’ as crypto regulations stall: Report

[Oct 22 4:06 AM] Still, CFTC Chair Rostin Behnam said a new Congress and president may accelerate crypto regulations. 

FTC cracks down on ‘deceptive’ AI projects, including an AI lawyer

[Sep 26 6:10 AM] “Operation AI Comply” is part of the US federal agency’s latest round of enforcement actions against companies it claims used AI to harm consumers.

SEC crypto enforcement hits $4.7B this year, rising 3,000% from 2023

[Sep 10 4:19 AM] The SEC is having a record crypto enforcement year, bolstered by a $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon.

United Texas Bank Faces Regulatory Action for AML Failures Linked to ‘Virtual Currency Customers’

[Sep 4 9:09 PM] United Texas Bank has been issued a cease and desist order by the U.S. Federal Reserve and the Texas Department of Banking due to significant compliance deficiencies. The bank must take immediate action to rectify issues related to its anti-money…

SEC charges fund adviser Galois Capital for FTX crypto custody

[Sep 3 7:16 PM] The fund allegedly lost about half of its assets following FTX's collapse. 

Federal Reserve Cites Significant Deficiencies in Customers Bancorp’s AML Compliance

[Aug 8 9:30 PM] The U.S. Federal Reserve Board has found “significant deficiencies” in Customers Bancorp, Inc.’s management of risk and adherence to anti-money laundering (AML) regulations. These issues, particularly troubling for the bank known…

Customers Bank to strengthen AML compliance after Fed scrutiny

[Aug 8 8:28 PM] The crypto-friendly bank’s activities during the 2023 banking crisis will also be examined.

SEC Withdraws Enforcement Action Against Paxos’ BUSD Stablecoin

[Jul 11 8:54 AM] The Securities and Exchange Commission (SEC) has decided to end its investigation into Paxos, a New York-based issuer of stablecoins, suggesting that stablecoins may not be treated as securities in most cases. This decision comes more than a year…

Robinhood crypto business slapped with SEC Wells notice

[May 6 6:56 AM] The SEC is planning to file an “enforcement action” against Robinhood’s cryptocurrency business, according to the Wells notice.

Opyn DeFi protocol founders are leaving crypto after CFTC crackdown

[Nov 14, 2023 11:00 AM] Two of the founders of crypto options platform Opyn are stepping down from leadership roles to pursue other aims, but Opyn will continue under new leadership.

FBI searched Kraken co-founder's home in March: Report

[Jul 6, 2023 6:17 PM] Electronic devices were seized from former Kraken CEO Jesse Powell’s Los Angeles home in connection to a non-crypto-related investigation into alleged hacking and cyberstalking.

SEC Charges Crypto Exchange Bittrex With Operating Unregistered Exchange, Broker, and Clearing Agency

[Apr 17, 2023 9:51 AM] After the report revealing that the cryptocurrency exchange Bittrex had received a Wells Notice from the U.S. Securities and Exchange Commission (SEC), the securities regulator charged Bittrex and the company’s CEO on April 17 for…

Bittrex Receives Wells Notice From SEC for Alleged Investor-Protection Law Violations

[Apr 17, 2023 8:00 AM] According to a recent report, the cryptocurrency exchange Bittrex received a Wells notice from the U.S. Securities and Exchange Commission (SEC) in March, signaling a potential lawsuit. The SEC’s enforcement division sent the Wells notice…

Multiple US state regulators allege AI trading DApp is a Ponzi scheme

[Apr 4, 2023 8:34 PM] The scheme allegedly claimed it could generate returns of up to 2.2% a day by leveraging AI to trade more often and with higher profits than a person could.

SEC in a Pickle: Crypto’s Tricky Trio Stirs Up Trouble in 2023

[Mar 23, 2023 2:30 PM] 2023 is shaping up to be a painful year for the U.S. Securities and Exchange Commission (SEC) as it finds itself entangled in battles with the ever-evolving and innovative cryptocurrency industry. From Ripple to Coinbase and Tron, the SEC faces…

New York Attorney General Files Lawsuit Against Kucoin and Declares Ethereum a Security

[Mar 9, 2023 3:50 PM] On March 9, 2023, New York attorney general Letitia James announced that her office had once again cracked down on crypto platforms by filing a lawsuit against the Seychelles-based crypto exchange Kucoin. Members of the Office of the Attorney…

Paxos Receives Wells Notice from SEC, NYDFS Orders Issuer to Stop Minting BUSD

[Feb 13, 2023 6:03 AM] According to a report published on Feb. 12, 2023, the New York-based financial institution and technology company, Paxos, has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) regarding alleged violations of investor…