Crypto Fundraising Hits 3-Year Low as Firms Struggle to Raise Capital: Messari
The amount raised by crypto firms in Q3 fell to just under $2.1 billion, across 297 deals, the lowest on both counts since Q4 2020 Source
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U.S. DOJ indicts eight Chinese firms for using crypto in fentanyl trade
The U.S. Department of Justice (DOJ) has unveiled eight indictments against Chinese companies and their employees involved in making and distributing potent synthetic opioid fentanyl. According to the justice department, these companies may have used cryptocurrency, along with other payment methods, to conceal their identities and financial transactions. Justice Department Announces Eight
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Why Some Crypto Firms Are Suspending Services in the U.K.
Luno, Bybit and PayPal have recently withdrawn certain services from the U.K. – just ahead of tough new promotions rules for crypto firms coming into effect. Source
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Chinese Firms Used Crypto Payments to Run Fentanyl Network, U.S. Claims in Charges
The U.S. Department of Justice (DOJ) targeted several Chinese businesses and their employees Tuesday in the latest round of charges tied to production and trafficking of fentanyl – a network that depended on cryptocurrency payments, according to authorities. Original Source
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UK’s FCA Saw ‘Poor’ Engagement From Some Overseas Crypto Firms on Upcoming Ad Rules
“You will appreciate we can't comment on specific firms but what we can say is that, of course, where firms are making decisions to actually get to the standards we want to see, that's really positive,” said Matthew Long, director of payments and digital assets at the FCA. Source
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New US bill to require firms to report off-chain transactions to CFTC
A new bill in the United States aims to require cryptocurrency service providers to report all blockchain transactions to a government repository.On Sept. 28, U.S. Representative Don Beyer introduced the “Off-Chain Digital Commodity Transaction Reporting Act,” requiring trading platforms to report all transactions to a repository registered with the Commodity Futures Trading
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Taiwanese Regulator Issues Guidance for Crypto Firms as it Steps Up Oversight
Under the new guidance, crypto issuers would have to publish a white paper, and exchange platforms must set up a review mechanism for listing and delisting virtual assets. Among other requirements, the regulator said firms should also custody platform assets and customer assets separately. Overseas firms will have to register
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How are crypto firms responding to US regulators’ enforcement actions?
United States regulators including the Securities and Exchange Commission (SEC) have ongoing civil cases against major cryptocurrency firms including Binance, Coinbase, and Ripple, but not every company has been subject to the same treatment.Gary Gensler, serving as SEC chair since 2021, has been widely criticized by many lawmakers and industry
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Bitcoin Slides to $26.5K Amid Surging U.S. Dollar; Record-High Rates Are ‘Nightmare’ for Crypto Firms
“U.S. equity and rates markets have broken some very key levels on the back of this, and reflexivity can take over with the bearish thesis from here,” the QCP wrote in a Telegram market update. “This macro move could seep into crypto markets and take BTC lower with it, albeit
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UK FCA Says It Made Crypto Firms, Banks Chat in Debanking Report Addressing Nigel Farage Allegations
The report, which follows allegations from broadcaster and former politician Nigel Farage that his bank account was shuttered over his political views, said "the most common reported reasons for personal and business account applications being declined, suspended or terminated were financial crime suspicions identified, due diligence concerns, and inactive/dormant accounts." Original
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