The collapse of the business resulted in investors losing approximately $40bn. This is a win for the US Securities and Exchange Commission (SEC), which lodged the case and constantly seeks greater control over the trading of crypto assets. Kwon also faces ongoing criminal cases in the US and South Korea. Based on Bloomberg information, he…
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If there is one aspect about cryptocurrencies that irritates regulators and government officials more than any other, it is the anonymity afforded the criminal element of our society by the nature of blockchain distributed ledger systems. At its next meeting on June 8 and 9 in Fukuoka, Japan, the G20 central bank governors and finance…
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Silvergate Bank. A San Diego based bank that caters to innovative businesses in fintech and the cryptocurrency industry, is not exactly a household name that rings a bell, but in the world of digital assets, it reigns supreme. CNBC has said it is a “key to growth in the digital asset industry”, and the Wall…
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Sirin Labs, the creator of the FINNEY™ smartphone, which is built on blockchain, recently revealed that it has partnered with Simplex, a company that provides incorruptible online payment solutions. The partnership is billed as a major milestone in the journey toward the global acceptance and use of cryptocurrencies. The collaboration will allow FINNEY™ user to…
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The Cyprus Securities and Exchange Commission (CySEC) today released a consultative paper proposing that the legal provisions made in the 5th AML Directive (AMLD5) be adopted into the country’s law. Today’s announcement is a result of concerns raised by legal entities dealing in crypto assets whose needs are not being met by the current regulations.…
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Cryptocurrencies, virtual money, or digital coinage, a rose by any other name, still smells as sweet. The latest amusing sideshows of government officials not knowing how to corral the new digital age come to you from Japan and Russia. The Financial Services Agency (FSA) in Japan, the local regulator, is considering the classification of all…
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FX broker eToro has just confirmed the roll out of its crypto wallet. The eToro wallet is a mobile application available via Google Play and the Apple App Store. It provides an easy to use customer interface and enhanced security. Multi-signature security gives users the ability to see their on-blockchain transactions and balances without the…
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The Financial Stability Board (FSB) has just published Crypto-asset markets: Potential channels for future financial stability implications report. This report sets out the analysis behind the FSB’s proactive assessment of the potential implications of crypto-assets for financial stability. The reports follows up on the initial assessment set out in the FSB Chair’s March 2018 letter to…
Read moreAbu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has announced that it has today launched its framework to regulate spot crypto asset activities, including those undertaken by exchanges, custodians and other intermediaries in ADGM. This follows the successful completion of a public consultation on the introduction of a robust crypto asset…
Read moreThe team behind the first cryptocurrency debit card have announced the launch of B21, the first personal wealth manager exclusively for crypto assets. B21 is a mobile-focused investment platform that allows anyone to create their own portfolio of cryptocurrencies, including Bitcoin, Ethereum, EOS and many others to be determined by users’ votes. Until now, investing…
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