On January 15, 2024, the United States Department of Justice (DOJ) imposed a significant fine of $100 million on BitMEX and its parent company, HDR Global Trading Limited. This penalty stemmed from violations related to the Bank Secrecy Act (BSA), marking a dramatic chapter in the ongoing saga of one of cryptocurrency’s most prominent exchanges.
Exchanges
In a significant move, HashKey Group, a prominent digital asset firm based in Asia, has received provisional approval for a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). Announced on January 13, this achievement signifies a major step in HashKey’s ambition to penetrate the Middle East and North Africa
The emergence of decentralized prediction platforms like Polymarket has ignited significant debate both within the crypto community and beyond. Recent developments have intensified scrutiny, particularly from regulatory bodies and the public. Reports indicate that the U.S. Commodity Futures Trading Commission (CFTC) is investigating Polymarket, punctuated by a subpoena demanding user data in the wake of
In the murky waters of cryptocurrency, the bankrupt FTX exchange finds itself embroiled in legal disputes regarding the sale of its European subsidiary, FTX EU. A recent statement from FTX announced that it has contested the sale to Backpack, a platform established by former FTX employees. This twist adds another layer of complexity to an
In 2024, Kazakhstan has taken significant steps to reinforce its regulatory framework surrounding cryptocurrencies, focusing specifically on illegal exchanges operating within its borders. The Financial Monitoring Agency (AFM) has reported the dismantling of 36 unauthorized crypto exchanges, which collectively processed over $100 million in transactions. These decisive actions signal a proactive approach by the Kazakhstan
Recent documents released by Coinbase’s chief legal officer, Paul Grewal, spotlight a significant regulatory push from the Federal Deposit Insurance Corporation (FDIC) against cryptocurrency services. These findings, described by Grewal as “pause letters,” explicitly indicate an FDIC recommendation to banks urging them to abstain from engaging in any cryptocurrency-related offerings, including even basic transactions involving
In a significant move towards diversifying its service portfolio, Crypto.com has announced the launch of stock and exchange-traded fund (ETF) trading in the United States. This new feature allows users to manage traditional equities alongside their cryptocurrency investments directly within the Crypto.com application. Such integrations are indicative of a broader strategy to establish the platform
On December 16, 2023, FTX, along with its affiliated debtors, unveiled their reorganization plan, which is set to take effect on January 3, 2025. This marks a critical moment in the recovery process for creditors impacted by the exchange’s notorious collapse in November 2022, which resulted from mismanagement and misuse of customer funds by its
The Celsius Network has embarked on a legal journey that continues to unfold, particularly following its decision to appeal a ruling made by Judge John Dorsey on December 31. This ruling dismissed Celsius’s ambitious $2 billion disparagement claim against the now-defunct cryptocurrency exchange, FTX. The heart of the matter lies in accusations that FTX’s executives
In an unprecedented move for the cryptocurrency landscape in Brazil, Binance has received regulatory approval from the Central Bank to acquire Sim;paul, a licensed broker-dealer. This landmark approval is significant not only for Binance but also for Brazil, as it positions the exchange as the first of its kind to hold a broker-dealer license in
