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On Jan. 5, 2023, the state of New York and attorney general Letitia James filed a lawsuit against Alex Mashinsky, the co-founder and former CEO of Celsius. The lawsuit claims that Mashinsky and Celsius defrauded “hundreds of thousands of investors, including more than 26,000 New Yorkers, out of billions of dollars worth of cryptocurrency.” Former … Read more
Institutional DeFi could be a new paradigm that banks can leverage for product innovation, new pricing models and operational efficiencies. Go to Source Powered by WPeMatico
Coinbase has agreed to pay a $100 million settlement with the New York Department of Financial Services (NYDFS), according to a consent order signed by the NYDFS superintendent Adrienne Harris on Jan. 4, 2023. New York’s financial regulator said compliance problems were detected and the exchange’s anti-money laundering controls were inadequate from 2020 through 2021. … Read more
The Fed, FDIC and OCC teamed up to wish the banks they regulate a FUD-filled new year with a warning about the risks associated with crypto assets and their efforts to contain those risks. Go to Source Powered by WPeMatico
BTC volatility is at a record low, inflows to spot markets remain muted and this week’s economic calendar suggests that volatility is set to rock the crypto market. Go to Source Powered by WPeMatico
Recent research from major financial institutions tied to the Federal Reserve sees the U.S. facing a “shallow” or “mild” recession in 2023. Go to Source Powered by WPeMatico
Venezuelan Banks have started eyeing the accounts of customers with ties to cryptocurrency trading, principally related to peer-to-peer (P2P) transaction activity. According to Legalrocks, a crypto and blockchain-focused legal firm in Venezuela, more than 75 accounts have been blocked by Venezuelan private banks for facilitating crypto-to-fiat and fiat-to-crypto conversions since the end of 2021. Venezuelan … Read more
The asset class volatility still poses a challenge to money managers, noted JPMorgan’s head of institutional portfolio strategy. Go to Source Powered by WPeMatico
Financial institutions in Russia will not be able to communicate with clients through instant messengers based outside the country, local media revealed. A new law passed by the State Duma also prohibits banks from using chats to send personal data and payment documents. Bill Restricts Russian Banks and Brokers From Sending Sensitive Information Through Foreign … Read more
One of the biggest banks in America once again paid a billion-dollar-scaled fine for the illegal treatment of its customers. Go to Source Powered by WPeMatico