This approval is a significant development for Swiss crypto market. The official announcement stated: For the first time, FINMA has approved a Swiss fund that invests primarily in cryptoassets, that is to say in assets based on the blockchain or distributed ledger technology. The fund concerned goes by the name of the “Crypto Market Index…
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Acting Director of Enforcement Vincent McGonagle, said: This action is part of the CFTC’s broader effort to protect U.S. customers. Margined, leveraged or financed digital asset trading offered to retail U.S. customers must occur on properly registered and regulated exchanges in accordance with all applicable laws and regulations. According to the CFTC, Kraken offered margined…
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The recent blow to crypto follows China’s concerns over cryptocurrency trading’s connection to fraud, money laundering and excessive energy consumption. China is one of the largest crypto markets in the world. This is the latest crackdown of China on crypto currency trading but it is not the first. In May, the country promised to focus…
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Seagal agreed to pay $157,000 in disgorgement and a $157,000 penalty, without admitting or denying wrongdoing. However, the motion picture celebrity made one payment of $75,000 and never paid the rest, a letter from Maureen Peyton King, a lawyer for the SEC, states. According to the US regulator, Seagal has not responded to the SEC…
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ASIC said: ASIC understands that some unlicensed overseas platforms are taking, or have already taken, steps to prevent Australian clients from accessing these financial products. These steps include removing references and links, placing additional warnings and disclosures on the relevant webpages and apps, and introducing geographically based IP restrictions (geo-blocking). This prevents more Australian consumers…
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The US watchdog found that from November 2014 to October 2020 BitMEX offered leveraged trading of cryptocurrency derivatives to retail and institutional customers in the US, while operating as a common enterprise. BitMEX was aware that US customers could access the BitMEX platform. CFTC also found that US customers placed orders directly through BitMEX’s user…
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However, the defendants did not take into account the volatility of the crypto world. As the digital assets that purchased the initial tokens did not offer guarantees to pay out the promised interest rate, it caused an issue with company operation. Instead of making customers aware of this issue, Mr. Acree and Mr. Keough decided…
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Mining for Bitcoin is not illegal in Malaysia, which is partly why Malaysia is one of the most popular countries for Bitcoin miners. It currently comes into the top 10 mining locations, accounting for over 3% of the total Bitcoin mining in the world. However, bitcoin mining does attract criminals, with most opting to steal…
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The ban follows warnings and concerns that financial information from TikTok could be misleading. The FCA has also expressed its concerns over young individuals being at risk in investing, taking their information from social media. The growing pressure has driven Google and other internet companies to take measures against scam ads showing on their platforms…
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Barclays' decision is expected to cause other banks to decide on how they will handle Binance. Both Natwest and Santander have made comments related to crypto exchanges recently, with Natwest taking the decision to decrease the daily limit that customers could make to crypto exchanges. This news from Barclays, as well as the decision by…
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