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After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit Suisse. According to unnamed sources familiar with the … Read more
The Howey test’s impact on cryptocurrency, explained — legal implications, compliance requirements and more. Go to Source Powered by WPeMatico
On March 3, 2023, Uniswap Labs, the firm behind the decentralized exchange Uniswap, announced the launch of a limited early-release application through Apple’s Testflight program. The company stated that the limited release was due to Apple not granting approval for the application launch, and the team does not know why. Uniswap Labs Launches Limited Early-Release … Read more
The probe is reportedly looking at certain offerings that Kraken has made to its US customers that could be in breach of securities laws. Go to Source Powered by WPeMatico
On Monday, Alameda Research Ltd. filed a legal complaint against Voyager Digital LLC and HTC Trading Inc. in the U.S. bankruptcy court. The complaint alleges the defendants received preferential transfers of property from Alameda Research and the plaintiffs are seeking to recover approximately $445.8 million from Voyager and HTC. Legal Battle Erupts Over Crypto Asset … Read more
You know what they say, “when life gives you lemons, make lemonade.” But when it comes to protecting your crypto funds on centralized exchanges (CEXes), the old adage should be “when life gives you regulations, make a self-custody wallet.” Self-custody is undoubtedly a better solution for protecting the interests of customers in crypto. Regulation alone … Read more
On Monday, the New York Department of Financial Services (NYDFS) published guidance on custodial structures to help protect customers’ money if a crypto firm goes bankrupt. New York’s top financial regulator stressed that businesses should not commingle customer funds and that customer funds should be segregated with separate accounting. FTX Collapse Prompts NYDFS to Issue … Read more
The cryptocurrency lender, Nexo, has agreed to pay $45 million to the U.S. Securities and Exchange Commission (SEC) and several state regulators after charges were levied against the firm for failing to register the company’s Earn Interest Product (EIP). Nexo detailed that the settlements are on a “no admit, no deny” basis and that the … Read more
Several U.S. House of Representatives Republicans have proposed legislation that would significantly decrease funding for the Internal Revenue Service (IRS). The move comes after the newly elected Speaker, Kevin McCarthy, stated that he would challenge the funding granted to the U.S. tax agency in the previous year. Biden Administration Opposes Bill for Rescinding Funding for … Read more
Ava Labs, the team behind the layer one (L1) smart contract platform network Avalanche, has partnered with Amazon Web Services (AWS), according to an announcement made on Jan. 11, 2023. Founder and CEO of Ava Labs, Emin Gün Sirer, said the collaboration was a “big deal” and, in comparison with other blockchain announcements that involved … Read more
