June 20, 2018 BY Valentina Kirilova

DFS grants virtual currency license to Square, Inc.

Financial Services Superintendent Maria T. Vullo today announced that the New York State Department of Financial Services (DFS) has approved the application of Square, Inc., for a virtual currency license. Square currently holds a money-transmitter license from DFS. DFS is pleased to approve Square’s application and welcomes them to New York’s expanding and well-regulated virtual…

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June 20, 2018 BY Valentina Kirilova

Dukascopy Bank welcomes crypto exchanges and crypto brokers

Following its decision of becoming a crypto friendly Swiss bank, Dukascopy Bank has announced that it makes a second step in this direction, opening accounts for players of the crypto industry. The first move has been to start offering CFD on Bitcoin since the first quarter 2018. Now, at the second step, the Bank opens…

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June 20, 2018 BY Valentina Kirilova

ASIC cancels Cairns liquidator’s registration

The registration of Mr Justin James Cadman as a registered liquidator was cancelled on 13 June 2018 following orders made on 8 June 2018 in the Federal Circuit Court of Australia, which resulted in Mr Cadman being declared bankrupt (an insolvent under administration), the Australian regulator ASIC announced earlier today. On 19 June 2018, ASIC…

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June 20, 2018 BY Valentina Kirilova

FCA warns against Storm Finance Limited firm

UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the company Storm Finance Limited. Storm Finance Limited is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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June 20, 2018 BY Valentina Kirilova

SEC shuts down $102 million ponzi scheme

The Securities and Exchange Commission (SEC) has announced that it has filed charges and obtained an asset freeze against the individuals and companies behind a $102 million Ponzi scheme that bilked investors throughout the U.S. According to the SEC’s complaint, the defendants defrauded more than 600 investors through sales of securities in issuers they controlled,…

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June 20, 2018 BY Valentina Kirilova

tZERO and BOX Digital Markets to create joint venture

tZERO and BOX Digital Markets LLC have announced they have entered into a joint venture, which is expected to become the world’s first regulated exchange for trading security tokens. Security tokens are electronic tokens defined as “securities” under U.S. law. The joint venture will seek approval from the U.S. Securities and Exchange Commission (SEC) prior…

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June 19, 2018 BY Mariela Naydenova

Akoin - the coin, the crypto-town and Akon

Akon is one of the very well known songwriters and singers in the United States. He is of a Senegalese ascent and to be worth around $80 million. Akon is now entering the cryptocurrency hype by intending to launch his very own digital coin - the Akoin. The story behind the coin and his idea…

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June 19, 2018 BY LeapRate Staff

Merrill Lynch fined $42 million over trade order masking

The U.S. Securities and Exchange Commission (SEC) has announced that it has charged Merrill Lynch, Pierce, Fenner & Smith with misleading customers about how it handled their orders. Merrill Lynch agreed to settle the charges, admit wrongdoing, and pay a $42 million penalty. According to the SEC’s order, Merrill Lynch falsely informed customers that it…

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June 19, 2018 BY Valentina Kirilova

FCA warns against Coin Boost Inc. firm

UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the company Coin Boost Inc. Coin Boost Inc. is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…

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