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A major cryptocurrency exchange in the UAE, Bitoasis, has obtained provisional approval from Dubai’s new cryptocurrency regulator. Binance and FTX have also been green-lighted by the regulator. Bitoasis Pursuing License From Dubai’s New Crypto Regulator Bitoasis, a major crypto exchange founded and headquartered in Dubai, announced Wednesday that it has received “provisional
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Nasdaq-listed Microstrategy has obtained a $205 million bitcoin-collateralized loan from Silvergate Bank through a subsidiary to buy more bitcoin. “The interest-only term loan is secured by certain bitcoin held in Macrostrategy’s collateral account.” Company to Use $205M Bitcoin-Backed Loan to Purchase Bitcoin The Nasdaq-listed pro-bitcoin software company Microstrategy announced Tuesday that one
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On Friday, Yuga Labs, the firm behind the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, announced the company acquired the intellectual property behind the Cryptopunks and Meebits brands. Furthermore, after obtaining the IP from Larva Labs, Yuga has decided to give “full commercial rights to the NFT holders.” Bored
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Payments startup Bottlepay said it has been approved by the Financial Conduct Authority (FCA) to carry out crypto-asset activities in the U.K., making it the first Lightning network-based firm to win permission from the country’s financial regulator .Bottleplay, which is owned by bitcoin investment company NYDIG, allows users to make
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The U.S. Securities and Exchange Commission (SEC) said it obtained an order imposing an asset freeze and other emergency relief against Virgil Capital LLC and its affiliated companies in connection with an alleged securities fraud relating to Virgil Capital’s flagship cryptocurrency trading fund, Virgil Sigma Fund LP. Source
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Top cryptocurrency payments firm Crypto.com gets about $350 million in insurance coverage. It may improve confidence in the crypto space and become a step toward cryptocurrency adoption.Premier cryptocurrency platform Crypto.com has gotten insurance coverage worth $360 million. This coverage is for risks associated with its cold storage Bitcoin vaults. Sources
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The U.S. Federal Deposit Insurance Corporation (FDIC) has granted conditional approval for Square to function as an Industrial Loan Company (ILC). FDIC Grants Square’s Deposit Insurance Application According to a press release issued on Wednesday (March 18, 2020), the FDIC Board approved Square’s deposit insurance application to create a “de novo industrial
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California-based financial firm SoFi has acquired a BitLicense from the New York State Department of Financial Services (NYDFS), the regulator said in a statement on Dec. 3.SoFi is now one of 24 crypto-related firms that have obtained a BitLicense since 2015, Bloomberg Law’s crypto reporter Lydia Beyoud tweeted the
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The Harvard Gazette reported a simulation at the university’s Kennedy School that was set up to explore the dangers of hostile nations receiving large sums in cryptocurrency in secret.In the exercise, a futuristic timeline was set for the year 2021 in which North Korea had just experimented with a test
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Stablecoin-based settlement platform Everex has obtained a full Money Transmitter License from a New Jersey regulator, allowing the company to test services in the United States.In a press release shared with CryptoX on Aug. 19, Everex revealed that the New Jersey Department of Banking and Insurance issued the company
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