Gemini’s exit from Canada: What’s driving crypto exchanges out?
Gemini’s exit came just a few days after the Canadian Securities Administrators released an update to crypto trading firms about stablecoins. Go to Source
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FCA Secures First Conviction for Illegal Crypto ATM Operation in UK
Olumide Osunkoya has pleaded guilty to illegally running a crypto ATM network across the UK. Even though the UK Financial Conduct Authority (FCA) denied his registration, his operation handled millions in cryptocurrency transactions. This case represents the first conviction of its type under the UK’s anti-money laundering laws. UK’s First Illegal Crypto ATM Conviction Unveiled … Read more
Cantor Fitzgerald CEO: Bitcoin Is a Commodity, Should Be Treated Like Gold and Oil
Howard Lutnick, CEO of Cantor Fitzgerald, says bitcoin is a commodity. “When you truly understand bitcoin, it’s hard to see it any other way,” he said, adding that the crypto “should be treated like gold and like oil.” While stating that other digital assets may vary, he firmly maintained that BTC is a commodity. Howard … Read more
Dutch Regulator Warns of Crypto Pump-and-Dump, New Regulation to Ban These Schemes
The Dutch Authority for the Financial Markets (AFM) has issued a warning about the dangers of pump-and-dump schemes in the cryptocurrency space, as new regulations prepare to target this market manipulation tactic. The upcoming Markets in Crypto-Assets Regulation (MiCAR), effective from Dec. 30 will ban these practices. AFM Sounds Alarm on Crypto Pump-and-Dump Schemes The … Read more
Lawyer Expects SEC to Challenge XRP Ruling as Appeal Deadline Approaches
A former lawyer with the U.S. Securities and Exchange Commission (SEC) anticipates the agency will challenge Judge Analisa Torres’ decision regarding XRP in the Ripple lawsuit. The SEC views the ruling as flawed and is likely to submit an appeal before the approaching Oct. 7 deadline. Ripple XRP Case: SEC Expected to Appeal Judge’s Ruling … Read more
CFTC Sues Over $3.6M Digital Asset Fraud Targeting Asian Americans
The U.S. Commodity Futures Trading Commission (CFTC) has initiated legal action against a fake trading platform and its associates for defrauding investors out of $3.6 million. The scheme, which targeted Asian Americans, involved soliciting funds in fiat and digital assets, with false promises of trading in commodity futures. Instead, the funds were misappropriated and diverted … Read more
Why Stablecoins Fail: Lessons From the Past
Stablecoins, the cryptocurrencies pegged to fiat currencies like the U.S. dollar to keep their value steady, can still face failures. Several well-known examples demonstrate that maintaining stability is more challenging than it appears. So, how does something designed to be ‘stable’ unravel? A Historical Review of Stablecoin De-Pegging Incidents There’s no doubt that these stablecoins … Read more
6 things the US needs to stay competitive in crypto, according to execs
The US is in danger of being left behind by more progressive jurisdictions in Asia, Europe and elsewhere. Go to Source
Bybit Expands in CIS Region With Kazakhstan License for Crypto Services
Crypto exchange Bybit has secured a major license in Kazakhstan, marking its expansion in the Commonwealth of Independent States (CIS) region. With its new regulatory approval, Bybit plans to offer a broad range of services including digital asset trading and crypto loans, while emphasizing Kazakhstan’s growing influence in the global crypto ecosystem. Bybit Secures Key … Read more
SEC Fines Mango DAO for Unregistered MNGO Tokens
The U.S. Securities and Exchange Commission (SEC) has filed charges against Mango DAO, Blockworks Foundation, and Mango Labs LLC for offering unregistered securities. The case centers around the sale of MNGO tokens and the operation of Mango Markets without proper registration. Mango Markets Hit With SEC Charges The SEC alleges that since August 2021, Mango … Read more