TRM Labs, Eventus and Notabene team up to deliver compliance solution for digital asset ecosystem LeapRate

November 15, 2021 BY Steffy Bogdanova

TRM Labs, Eventus and Notabene team up to deliver compliance solution for digital asset ecosystem

Esteban Castaño, Co-founder and CEO of TRM Labs, said: Organizations operating in the crypto space are tasked with managing a complex regulatory landscape in a rapidly evolving market. Project TEN helps organizations address this complexity by bringing distinct areas of risk management expertise into one comprehensive offering. Eventus CEO Travis Schwab commented: Powered in part…

November 08, 2021 BY Steffy Bogdanova

Sweden’s FI calls for ban of energy-intensive crypto mining

It has been estimated by the the University of Cambridge and Digiconomist that the two largest cryptocurrencies Bitcoin and Ethereum, together use nearly twice as much electricity in a year as the whole country of Sweden. This is attributed to the nature of the cyrpto mining process which requires a proof of work. Miners must…

November 04, 2021 BY Steffy Bogdanova

ASIC moves to shut down unlicensed investment scheme A One Multi Services

According to the details provided by ASIC, Hala used over $5.7 million of A One Multi’s funds for his and Walters’ personal benefit by acquiring property and luxury vehicles. In order to protect investors, on 21 October 2021, ASIC ordered Hala to transfer crypto-assets in his name to the receivers. The regulator noted that it…

October 29, 2021 BY Steffy Bogdanova

ASIC announces regulatory guidance on crypto products

The new regulatory guidance follows ASIC’s public consultation on crypto-assets in June 2021. The new guidelines include good practices for market operators and information on admission and monitoring standards, custody of crypto-assets, pricing methodologies, disclosure and risk management. Armour added: The good practices we published provide practical examples of how these obligations may be met,…

October 26, 2021 BY Steffy Bogdanova

DFSA introduces regulation for investment tokens

Peter Smith, Managing Director, Head of Strategy, Policy and Risk at the DFSA said: Creating an ecosystem for innovative firms to thrive in the UAE is a key priority for both the UAE and Dubai Governments, and the DFSA. Our consultation on Investment Tokens enabled us to understand what firms were looking for in a…

September 29, 2021 BY Steffy Bogdanova

FINMA announces approval of first Swiss crypto fund

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…

September 29, 2021 BY Steffy Bogdanova

CFTC fines Kraken $1.25 million for offering margined crypto products to US customers

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…

September 24, 2021 BY Steffy Bogdanova

China announces all crypto transactions are illegal

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…

August 30, 2021 BY Steffy Bogdanova

US court orders actor Steven Seagal to pay full crypto fine

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…

August 18, 2021 BY Steffy Bogdanova

ASIC issues a warning against trading crypto through unlicensed entities

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…

Category: Regulation