EU financial regulators warn consumers on the risk of trading crypto assets LeapRate

March 17, 2022 BY Steffy Bogdanova

EU financial regulators warn consumers on the risk of trading crypto assets

ESMA further explained the risks behind trading crypto-assets. Many of them are are subject to sudden and extreme price movements and are speculative as their price relies solely on consumer demand. These products are often aggressively advertised to the public with market information that often can be unclear, incomplete, inaccurate or even purposefully misleading. The…

March 17, 2022 BY Steffy Bogdanova

LMAX Group partners with SIX to launch crypto futures

Javier Hernani, Head Securities Services, SIX, said: This is a major milestone for SIX from several perspectives. We are making substantial progress according to our digital asset clearing strategy and are expanding our portfolio of cleared asset classes. At the same time, we have the opportunity to bring our Swiss and Spanish infrastructure strengths together…

March 15, 2022 BY Steffy Bogdanova

FTX Europe obtains license to operate Virtual Asset Exchange in Dubai

FTX CEO, Sam Bankman-Fried, commented: FTX is proud to be the first licensee under Dubai's prudential supervision regime. It's an honor to be one of the first approved applicants in such a specialised category and we are excited to be able to introduce complex crypto-derivatives products with centralised counterparty clearing to institutional markets. FTX receiving…

March 15, 2022 BY Steffy Bogdanova

EU parliament committee rejects crypto proof-of-work ban

Bitcoin, however, is unlikely to follow suit as it has no other reason to switch to PoS. The committee voted to add cryptocurrencies that use PoW to the EU sustainable finance taxonomy which decides whether something can be labelled environmentally friendly by the end of 2024. Last year, the Swedish FI called for ban of…

March 10, 2022 BY Steffy Bogdanova

Third co-founder of crypto exchange BitMEX pleads guilty to US bank security act violations

Reed entered his guilty plea yesterday and will be sentenced by the US District Court. The other two co-founders of BitMEX, Arthur Hayes and Benjamin Delo, plead guilty for the same offense in February 2022. As part of their plea agreements, both Hayes and Delo each agreed to pay $10 million criminal fine. Background Established…

March 07, 2022 BY Steffy Bogdanova

Crypto exchange FTX secures CySEC approval to operate in Europe

Currently headquartered in Switzerland, FTX Europe has an additional regional headquarter in Cyprus. The company noted that it will devote “significant resources” in developing strong relationship with the regulatory authorities. Patrick Gruhn, Head of FTX Europe, concluded: We're excited to bring FTX's innovative offerings to the European markets and that CySEC officially approved our domain.…

March 03, 2022 BY Steffy Bogdanova

EU calls for crypto regulation to prevent Russia from dodging sanctions

The discussions in EU come as officials in US and UK also raise concerns hat crypto transactions could become a way to bypass the recently imposed sanctions on Russia and undermine the efforts to isolate the county’s economy. North Korea regularly uses cyberattacks on cryptocurrency exchanges as a revenue source to fund its nuclear missile…

February 25, 2022 BY Steffy Bogdanova

BitMEX founders Arthur Hayes, Ben Delo plead guilty to defying AML rules

US Attorney Damian Williams said: As cryptocurrencies and technologies designed to facilitate their trade proliferate, companies engaged in the virtual currency economy have become critical gatekeepers in efforts to ensure that U.S. markets are fair, efficient, and secure. The opportunities and advantages of operating in the United States are legion, but they carry with them…

February 17, 2022 BY Steffy Bogdanova

24 Exchange secures Bermuda license to trade crypto

Dmitri Galinov, 24 Exchange CEO and Founder, said: This BMA license for 24 Exchange Broker Ltd. enables us to bring spot cryptocurrency trading onto our institutional-grade platform, making it more available, accessible and standardized. We are pleased to continue to drive the institutional adoption of crypto products trading at the best available rates and with…

February 15, 2022 BY Steffy Bogdanova

NAGA to launch crypto exchange NAGAX

Following the launch, the German fintech online broker will also release its NFT and Staking platform under the label "NAGA Earn". Additionally, the firm also saw a dynamic beginning of the year. Brokerage revenues went as high as €8 million, nearly triple the amount it recorded during the same period last year. Bilski added: A…

Category: Cryptocurrency