Cryptocurrency exchange KuCoin has agreed to pay $22 million to settle a lawsuit filed by the New York Attorney General (NYAG). The exchange was accused of operating in the state without proper registration. As part of the settlement, KuCoin will reimburse New York customers with $16.77 million and pay an additional $5.3 million to the […]
Terraform Labs co-founder Do Kwon’s custody in Montenegro has reportedly been extended by two months, according to a spokesperson for the High Court. Kwon, along with Terraform Labs CFO Han Chang-joon, was arrested in March for traveling with forged documents. While Kwon’s four-month sentence is coming to an end, he will not be released as […]
CFTC Chair Rostin Behnam has expressed his belief that the majority of cryptocurrencies should be classified as commodities under current laws. In a recent statement, Behnam emphasized the importance of legitimizing the crypto industry through legislation and called on Congress to take action.Behnam’s remarks highlight the growing recognition of cryptocurrencies as a permanent fixture in […]
The Swiss digital exchange SIX Digital Exchange has tokenized private shares of Aktionariat AG on its regulated blockchain-based central depository. According to a statement released on Tuesday, the Bern Cantonal Bank (BEKB) acted as the issuer agent for Aktionariat and also served as the custodian.This transaction demonstrates that shares issued as register value rights on […]
The ongoing bankruptcy case of FTX, a defunct crypto exchange, has taken a complex turn with the Internal Revenue Service (IRS) seeking around $24 billion from the exchange. This amount has been reduced from the initial claim of $44 billion filed by the IRS in April. FTX lawyers are disputing the method used by the […]
Daiwa Securities has partnered with Progmat to develop a solution for issuing tokenized bonds, marking a significant step in modernizing the bond market. The collaboration involves the use of R3’s Corda blockchain technology and the participation of SBI R3. Daiwa’s solution aims to automate the manual process of bond issuance, which typically involves investor contact […]
The XRP community has received positive news as one of the leading crypto storage platforms, Blockchain.com, has added support for the token. This follows a recent ruling by Judge Analisa Torres, which provided regulatory clarity for XRP.In a post on their platform, Blockchain.com announced that users can now store XRP in their wallets. This development […]
El Salvador’s Bitcoin bonds have received regulatory approval and are set to launch in the first quarter of 2024, according to the country’s National Bitcoin Office. The bonds, known as the Volcano Bond, are seen as a significant step towards establishing Bitcoin-focused capital markets in the country. The trading activities of the bonds will be […]
Julius Bär, a Swiss private bank, is experiencing a decline in its stock value, which is causing concern among investors. The bank’s involvement in risky loans, particularly a CHF 606 million loan to a European conglomerate, has raised eyebrows. Experts believe that the stock’s continuous decline reflects the shock investors felt when they learned that […]
The US authorities have proposed a bipartisan Digital Asset Anti-Money Laundering Act in response to the growing threat posed by the crypto industry to financial stability. The Act has gained support from a coalition of senators, including Elizabeth Warren, who expressed excitement about the new senators joining the fight against the illicit use of crypto. […]
