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"On or about June 21, 2023, Respondent was unable to honor customer withdrawals due to a shortfall of customer funds caused by a significant liability on the Respondent's balance sheet owed to customers," the order said. "Additionally, Respondent failed to safeguard assets under its custody and is unable to meet
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Most organizations the regulator mentions have little or no online presence and, with one exception, aren’t working with any major crypto platforms. Source
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Canadian citizens are being advised to double-check crypto trading service providers as they may be using “fictitious” regulatory bodies to boost their credibility.According to a June 20 Investor Alert from the Canadian Securities Administrators (CSA) some “purported” crypto platforms are claiming to be approved by certain regulatory authorities or dispute
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The AMF wants industry stakeholders to contribute to a discussion about its views on supervising DeFi, DAOs and associated risks. Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Texas State Securities Board (TSSB) has taken legal action against Abra and its CEO, William John “Bill” Barhydt. Investors participating in Abra Earn and Abra Boost accuse the defendants of securities fraud and deceptive practices. The
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UK’s Competition and Markets Authority (CMA) has given a go-ahead to the deal noting that Amazon is not violating any competition concerns. Earlier today on Friday, June 16, Britain’s competition regulator gave a go-ahead to Amazon for its planned acquisition of the Roomba vacuum cleaner maker – iRobot Corporation. UK’s Competition
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Crypto lending firm Abra, which once handled more than $116 million in assets, had allegedly committed securities fraud and has been insolvent since March 31, according to Texas regulators.In a June 15 enforcement action — including an emergency cease and desist order — the Texas State Securities Board accused Abra and its
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The European Union’s financial watchdog will launch a three-part consultation process for the recently adopted Markets in Crypto-Assets framework, or MiCA.In a notice posted to the European Securities and Markets Authority (ESMA) website on June 12, regulators said the consultation packages would cover the authorization, governance, conflicts-of-interest and complaint-handling procedures
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Binance operates an independent entity dubbed Binance Nigeria Limited similar to the United States entity that was also deemed illegal earlier last week. Cryptocurrency exchanges around the world have found themselves at loggerheads with several global regulators for offering digital assets without proper registrations. In the latest developments, both the Nigerian
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It has been a tough week for cryptocurrency exchange Binance. On June 9, Nigeria's securities authority reportedly deemed the exchange illegal, just days after Binance was sued by the U.S. Securities and Exchange Commission. "Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever," Nigeria's
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