Tag: Regulatory compliance
Silvergate Bank Successfully Resolves Federal Reserve Enforcement Action
Silvergate Bank has successfully resolved a Federal Reserve enforcement action after undergoing liquidation to protect its depositors. The action, which began in May 2023, required the bank to wind down its operations in a...
Reassessing SEC’s Allegations Against Binance for Third-Party Tokens
Last week, the U.S. Securities and Exchange Commission (SEC) case against Binance was discussed in a hearing before a federal judge. Binance, Binance.US, and founder Changpeng Zhao are involved in this case. Attorneys for...
Fusing Digital Assets with Mainstream Services: Taiwan Mobile’s VASP License Bid
Taiwan Mobile, one of the major telecom operators in Taiwan, has taken a significant step in the crypto regulatory landscape by applying for a license to operate as a Virtual Asset Service Provider (VASP)....
Court Approves Accelerating Consensys vs. SEC Lawsuit for Quick Resolution
A federal judge has approved a timeline for the court to consider the lawsuit filed by software firm Consensys against the US Securities and Exchange Commission (SEC) and its commissioners. In a filing on...
German Government Sells Bitcoin Worth Over $195M In Ongoing Selling Spree
The German government has recently started selling a large amount of Bitcoin from a confiscated wallet, which has contributed to the ongoing price decline in the cryptocurrency market. This selling spree is part of...
Swiss Regulator Closes Crypto-Linked FlowBank; Bankruptcy Initiated
FlowBank, a Swiss online bank known for its crypto ties, has been closed down by the Swiss Financial Market Supervisory Authority (FINMA) due to insufficient capital and serious breaches of minimum capital requirements. This...
EU MiCA Regulations: Final Draft Technical Standards Revealed
The European Banking Authority (EBA) recently released the final draft technical standards on prudential matters for firms to comply with under the Markets in Crypto Assets (MiCA) legislation. This legislation, which was passed last...
U.S. Judge Approves $4.5B Settlement between Terraform and SEC.
A settlement agreement involving a $4.5 billion penalty and a ban on trading "crypto asset securities" has been approved by a U.S. District Court judge. The agreement was reached between the Securities and Exchange...
Nigeria Drops Tax Charges Against Binance Executives Nigeria Clears Binance Executives of Tax Charges
Nigeria Drops Tax Charges Against Binance ExecutivesTax charges against Binance executives Tigran Gambaryan and Nadeem Anjarwalla have been dropped by Nigeria's Federal Inland Revenue Service (FIRS). The FIRS revised the charges so that only...
Gemini Settles with NYAG, Recovers $50 Million for Users
The New York Attorney General's office recently announced that it has reached a settlement with Gemini, a cryptocurrency exchange, over the defunct Gemini Earn program. As part of the settlement, Gemini will be returning...
