financial regulator – DIGIT INFO

Crypto chief bids SEC farewell after 9 years of service

DIGIT — Mon, 17 Jun 2024 13:58:15 +0000

David Hirsch has worked as an enforcement attorney for the SEC since 2015 and started his post as the chief of the crypto asset division in 2022.

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New York Tightens Customer Service Regulations for Crypto Companies

DIGIT — Fri, 31 May 2024 23:11:13 +0000

The New York State Department of Financial Services (DFS) has introduced new guidance mandating regulated cryptocurrency entities to implement customer service policies and procedures. Crypto entities must collect data to ensure timely and fair resolution of issues, maintain records for regulatory review, and provide quarterly analyses. New York Regulator Requires Crypto Firms to Adopt New […]

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Crypto firm Helio Lending gets bond sentence over false license claims

DIGIT — Fri, 18 Aug 2023 04:58:57 +0000

Melbourne-based crypto lender Helio Lending had previously pleaded guilty to falsely claiming it had an Australian credit license.

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Crypto Ads in Belgium to Feature ‘Punchy Warning’ of Risks, New Rules Imply

DIGIT — Tue, 21 Mar 2023 18:00:34 +0000

The financial regulatory body of Belgium has been tasked by the government to regulate advertisements for cryptocurrencies. New rules, set to enter into force in May, oblige advertisers to clearly warn investors of the risks associated with the digital assets. Belgium Poised to Protect Consumers From Misleading Crypto Advertisements Belgium’s Financial Services and Markets Authority […]

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Dutch Financial Regulator Vows Strict Treatment of Crypto Business Under MiCA

DIGIT — Sun, 19 Mar 2023 10:00:03 +0000

The financial regulatory body of the Netherlands intends to maintain tough attitude towards the Dutch digital assets sector despite looser European rules. The head of the agency overseeing the industry doesn’t think crypto is good news and highlights its flaws in an article. Head of Dutch Financial Authority Says Cryptos Are Difficult to Fathom, Vulnerable […]

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NYDFS Releases Guidance on Importance of Segregation and Separate Accounting for Customer Funds in Crypto Industry

DIGIT — Mon, 23 Jan 2023 20:00:57 +0000

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 […]

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Coinbase Agrees to $100 Million Settlement With New York Financial Regulator for Anti-Money Laundering Violations

DIGIT — Wed, 04 Jan 2023 20:30:13 +0000

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. […]

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Texas to probe FTX endorsements by Tom Brady, Stephen Curry and other celebs

DIGIT — Tue, 22 Nov 2022 05:59:34 +0000

The Texas State Securities Board is scrutinizing payments received by celebrities to endorse FTX US, as part of a wider probe into FTX’s collapse.

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Russia’s Financial Watchdog Investigates 400 Crypto-Related Cases, Director Tells Putin

DIGIT — Thu, 30 Jun 2022 11:30:56 +0000

Rosfinmonitoring is conducting hundreds of investigations into cases involving cryptocurrencies, the head of the agency announced. Hundreds of thousands of Russians take part in crypto deals abroad, the top regulator also reported to the Russian president. Russian Authorities Initiate 20 Criminal Cases Linked to Crypto Assets The Federal Financial Monitoring Service of the Russian Federation, […]

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German BaFin official calls for ‘innovative’ EU-wide DeFi regulation

DIGIT — Wed, 18 May 2022 02:08:01 +0000

Highlighting Germany’s crypto license as an example of attractive regulation, Birgit Rodolphe writes that similar frameworks should be the same throughout the EU to “prevent a fragmented market.”

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