Cryptocurrency Analysis and News Portal
The cryptocurrency lender, Nexo, has agreed to pay $45 million to the U.S. Securities and Exchange Commission (SEC) and several state regulators after charges were levied against the firm for failing to register the company’s Earn Interest Product (EIP). Nexo detailed that the settlements are on a “no admit, no
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“2023 continues to be challenging for investors especially during the first half of the year when the [Federal Reserve] is still hawkish, raising interest rates to control the inflation,” Zheng said. “The current crypto bear market cycle may end when the Fed stops raising interest rates (hopefully by the second
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Japan has reportedly urged other countries, including the U.S., to regulate crypto exchanges like they do banks. A top official at the Financial Services Agency explained that the recent FTX implosion wasn’t brought on by crypto technology but by “loose governance, lax internal controls, and the absence of regulation and
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Economists at the Bank of International Settlements (BIS) have recommended three policies regulators worldwide could adopt in order to deal with the risks posed by cryptocurrencies. “Authorities can now consider a variety of policy approaches and at the same time work to improve the existing monetary system in the public
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Financial regulators in Japan have urged global regulators to treat crypto the same way as they do banking, calling for tougher rules for the sector.According to the deputy director-general of the Financial Services Agency’s Strategy Development and Management Bureau, Mamoru Yanase, crypto needs to be controlled.“If you like to implement
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The U.S. Securities and Exchange Commission (SEC) has charged crypto exchange Gemini and crypto lender Genesis Global Capital, a subsidiary of Digital Currency Group (DCG). “Through this unregistered offering, Genesis and Gemini raised billions of dollars’ worth of crypto assets from hundreds of thousands of investors,” the SEC alleged. SEC Takes
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His worry is that, under Maurey’s plans and until MiCA is up and running, crypto firms based in other EU member states could have to seek a duplicate license in France – despite the fact that MiCA is supposed to ensure they can operate across the bloc with a single
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The South Korea-based cryptocurrency exchange Bithumb is under a “special tax investigation” by the country’s National Tax Service (NTS), according to local reports.On Jan. 10 tax agents raided the exchange’s headquarters in the country’s capital city Seoul as a part of a compliance investigation. The investigation was carried out by
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The Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have jointly issued warnings about crypto risks to banking organizations. “The agencies have significant safety and soundness concerns with business models that are concentrated in crypto-asset-related activities or have concentrated exposures
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The crypto space received more regulatory attention through the end of 2022. The collapse of one of the largest global digital asset exchanges brought massive losses to the industry. This event spurred several watchdogs to express concerns and issue warning on cryptocurrency engagement. Some US Federal regulators have recently commented on
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