In a recent development, Ripple CEO Bradley Kent Garlinghouse has publicly criticized Gary Gensler, the Chairman of the United States Securities and Exchange Commission (SEC), accusing him of hypocrisy in his attempts to regulate cryptocurrencies. Garlinghouse took to social media platform X (formerly Twitter) to label Gensler a hypocrite and accuse him of being involved […]
Hong Kong regulators have announced that they are open to considering applications for spot crypto exchange-traded funds (ETFs). The Securities and Futures Commission (SFC) and Hong Kong Monetary Authority (HKMA) issued a joint statement acknowledging the changing virtual asset environment since 2018. Previously, the SFC had implemented a regulatory approach that limited participation to professional […]
Swiss banks are facing concerns over their vulnerability to criticism and potential legal action due to their dealings with Russian clients. The US Department of Justice (DoJ) is currently investigating whether UBS and Credit Suisse assisted Russian oligarchs in evading sanctions, as Switzerland has been accused of being a preferred haven for Russian funds. These […]
Deutschland’s largest credit institution has discovered thousands of forgotten and unresolved complaints at its subsidiary, Postbank. This backlog of customer complaints has emerged months after the German bank promised to quickly resolve the extensive disruptions caused by a botched IT migration project. The incident raises new questions about the bank’s internal communication and workflow systems, […]
A Zurich court has handed down a significant verdict in one of the city’s largest financial fraud cases. Financier Bismark Badilla has been sentenced to six years in prison for “systematic fraud” and multiple counts of forgery. The case involves around 70 victims, including prominent law firms and a former top compliance officer from Credit […]
The Swiss private bank Julius Bär is under investigation by the Swiss Financial Market Supervisory Authority (FINMA) for inadequate risk control structures that contributed to the bank’s involvement with bankrupt real estate mogul René Benko. The investigation was triggered by concerns that the business and control functions at Julius Bär were not sufficiently separated. The […]
Coinbase, the US-based cryptocurrency exchange, has received regulatory approval from the French regulator Autorité des Marchés Financiers (AMF) to offer its crypto exchange services and products in France. This approval, known as the Virtual Assets Service Provider (VASP) registration, allows Coinbase to provide digital asset custody and trading services to both retail and institutional customers […]
Coinbase, one of the largest cryptocurrency exchanges, has obtained virtual asset service provider (VASP) status in France, allowing it to expand its operations in Europe. The company has registered with France’s Autorité des marchés financiers (AMF) and can now offer retail and institutional services, including crypto custody, crypto-to-crypto trading, and buying and selling crypto for […]
Circle, the US company behind the USDC stablecoin, has expanded its operations into the European market by registering as a digital asset service provider (DASP) in France. To begin its operations in France, Circle needs to obtain approval as a payment services provider (PSP) or register as an agent of a PSP. The company has […]
The US Securities and Exchange Commission (SEC) is reportedly holding a joint conference call with applicants for a spot Bitcoin exchange-traded fund (ETF). According to reports from Fox Business correspondents, the SEC is urging applicants to commit to a cash creation model as important deadlines approach.This move by the SEC comes as the agency continues […]
