Politics, Legal & Regulation

February 25, 2022 @ 4:55 pm By Omar Faridi  |  

James Butterfill and Christopher Bendiksen from CoinShares have noted in a blog post dated February 24, 2022 that Bitcoin had an “immediate” price response to the Ukraine invasion when the news broke early this morning. According to the CoinShares researchers, it has become evident that,… Read More

February 25, 2022 @ 9:46 am By JD Alois  |  

Arthur Hayes and Benjamin Delo, BitMEX crypto derivatives exchange founders, have pleaded guilty to charges of violating the Bank Secrecy Act. According to the US Department of Justice, the two founders willfully failed to establish, implement, and maintain anti-money laundering (AML) programs at BitMEX. Under… Read More

February 25, 2022 @ 8:20 am By Omar Faridi  |  

International markets are experiencing a massive increase in volatility with Russia’s invasion of Ukraine. The severe humanitarian crisis that could unfold over the next few days and weeks “could be the worst in Europe in decades, with loss of life and property, as well as… Read More

February 24, 2022 @ 11:12 am By JD Alois  |  

  As Russian President Vladimir Putin shocked the world with his horrific invasion of Ukraine, many nations enacted economic sanctions to punish the rogue country as Europe entered a state of war. Following Putin’s effective annexation of Donetsk and Luhansk (Donetsk and Luhansk People’s Republics… Read More

February 24, 2022 @ 8:28 am By Omar Faridi  |  

One positive development during the past year has been law enforcement’s “growing” ability to seize virtual currency from criminals, according to an extensive update from Chainalysis. The US Department of Justice (DOJ) seized $2.3 million in crypto from the DarkSide ransomware operators who were allegedly… Read More

February 23, 2022 @ 11:05 am By JD Alois  |  

Last month, the Securities and Exchange Commission (SEC) approved BSTX as a national securities exchange thus ushering in the first regulated exchange utilizing blockchain technology. BSTX is a joint venture between BOX Digital Markets, LLC and tZERO, a digital asset firm that called SEC approval a “watershed event in… Read More

February 23, 2022 @ 9:24 am By JD Alois  |  

While some progress has been made, it should be clear now that progress, as outlined by the Kalifa Review of Fintech, is falling short. As has been widely discussed over the years, the UK is the leading global Fintech Hub. This has been accomplished due… Read More

February 22, 2022 @ 9:17 pm By Omar Faridi  |  

Jack Wilson, Head of Public Policy at TrueLayer, notes that Open banking started back in 2018 thanks to appropriate regulations (PSD2) which gave consumers the right “to access their bank account data using third parties called account information services providers (AISPs).” However, these same set… Read More

February 22, 2022 @ 3:30 pm By Tony Zerucha  |  

The United Kingdom’s Financial Conduct Authority (FCA) has appointed two people to serve as special administrators over Xpress Money Services after courts issued a special administrative order. David Hudson and Philip Reynolds of FRP Advisory have been appointed as joint special administrators. Xpress is an… Read More

February 22, 2022 @ 8:52 am By JD Alois  |  

Bitpanda, an Austrian digital asset exchange, has acquired Trustology, according to a statement by Bitpanda. The move aims to bring in-house custody services for digital assets. Bitpanda stated: “We’re thrilled to welcome Trustology to Team Bitpanda! As one of the fastest-growing Fintechs, international expansion and… Read More

February 20, 2022 @ 11:59 am By Omar Faridi  |  

Bit2Me has reportedly become the first Spanish firm to successfully obtain registration from the Bank of Spain as a provider of services for exchanging digital currency for fiduciary currency and custody of electronic wallets. Bit2Me was notably the first exchange to apply for registration with… Read More

February 18, 2022 @ 12:40 pm By JD Alois  |  

The Federal Open Market Committee has announced new restrictions on senior Fed officials in regards to investing and trading activities. According to a statement by the Fed, under the new rules, senior Federal Reserve officials are prohibited from purchasing individual stocks or sector funds, holding investments… Read More

February 18, 2022 @ 8:55 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) and People’s Bank of China (PBoC) have announced that they are accepting applications from financial institutions and Fintechs for conducting pilot trials of cross-boundary fintech initiatives in the Greater Bay Area (GBA). The Greater Bay Area Fintech Pilot Trial… Read More

February 17, 2022 @ 2:57 pm By JD Alois  |  

The US Department of Justice has announced the selection of Eun Young Choi as the first Director of the National Cryptocurrency Enforcement Team (NCET). The new division at Justice is in recognition of the growth of the digital asset sector as well as the need… Read More

February 17, 2022 @ 2:43 pm By JD Alois  |  

Last week the SEC’s Small Business Capital Formation Advisory Committee held a meeting to discuss the definition of an Accredited Investor. This definition decides who can, and who cannot, access certain private securities offerings – all based on an income or wealth metric. It does… Read More

February 17, 2022 @ 11:08 am By Omar Faridi  |  

The US Securities and Exchange Commission (SEC) is reportedly looking into the relationship between the US division of Binance, the world’s largest digital asset exchange, and two trading companies with alleged ties to Binance founder Changpeng Zhao or “CZ”, according to sources familiar with the… Read More

February 17, 2022 @ 10:27 am By JD Alois  |  

The Financial Stability Board (FSB) published a report yesterday on crypto-asset risks. The FSB is an international entity that promotes global financial stability. As digital assets have grown, the FSB has engaged in the ongoing discussion of the importance and systemic impact of crypto. The… Read More

February 17, 2022 @ 8:52 am By Omar Faridi  |  

After making numerous unsuccessful attempts in the US to get a Bitcoin ETF that tracks BTC spot price, Fidelity, one of the world’s largest asset managers, has now introduced such products in Canada and European markets. On Tuesday (February 15, 2022), Fidelity introduced a European… Read More

February 16, 2022 @ 9:39 pm By Tony Zerucha  |  

The Monetary Authority of Singapore(MAS) has laid the hammer down on DBS Bank after its digital banking services were widely unavailable for three days toward the end of last November. In a public statement, the Monetary Authority of Singapore said it has imposed an additional… Read More

February 16, 2022 @ 7:50 pm By Omar Faridi  |  

Qudian Inc. (NYSE: QD), a technology platform supporting the enhancement of the online consumer finance experience in China, recently announced that it has received a letter from the New York Stock Exchange (NYSE) dated February 7, 2022, informing the company that it is “below the… Read More