CoinW, the world’s pioneering cryptocurrency exchange, has recently strengthened its presence in the Middle East and North Africa (MENA) region. The company participated in two industry events, the DATE Fintech Show in Saudi Arabia and the Global Blockchain Congress in Dubai, UAE, as part of its strategic move to expand globally into MENA.During the Global […]
The Swiss bank, UBS, is intensifying its efforts to reclaim millions of bonus payments that were made to senior executives at Credit Suisse before its collapse. UBS has contacted hundreds of bankers from the acquired Credit Suisse and offered them multi-year payout plans to recover a portion of the 1.2 billion Swiss francs in tied-up […]
The Financial Conduct Authority (FCA), the financial regulator in the United Kingdom, has released a minute-long animated video to educate investors about its marketing rules for cryptocurrency firms. The video, presented in the style of a pixelated Wild West cartoon, aims to explain how to assess whether crypto companies comply with the FCA’s marketing regulations.The […]
As the U.S. Securities and Exchange Commission (SEC) reviews filings for spot Bitcoin exchange-traded funds (ETFs), it is insisting on a “cash” redemption model rather than alternative models proposed by issuers like BlackRock. Invesco, the latest ETF applicant, has now agreed to use a cash creation and redemption model for its ETF. The SEC has […]
Bitcoin and other cryptocurrencies may soon experience a surge in adoption by U.S.-based companies, thanks to a recent accounting rule change. The new rule allows companies to more accurately reflect the value of their crypto holdings on their accounting books. Previously, companies could only record impairment when the value of their crypto decreased, even if […]
Binance has submitted two key filings in response to an ongoing case launched by the U.S. Securities and Exchange Commission (SEC). The first filing seeks to dismiss the case, arguing that the SEC has not provided sufficient evidence that Binance tokens and services are securities or investment contracts. It also claims that the SEC’s claims […]
The Financial Accounting Standards Board (FASB) has announced new rules that will significantly impact how U.S. companies account for cryptocurrencies like Bitcoin. Starting from December 15, 2024, companies will be required to record these digital currencies at fair market value. This means that the value of their cryptoassets will need to be updated based on […]
Crypto companies and institutions holding crypto assets in the United States will soon be able to record the value of their assets more accurately, thanks to new accounting rules set by the Financial Accounting Standards Board (FASB). Currently, crypto assets are considered indefinite-lived intangible assets and are subject to impairment. This means that if the […]
The Financial Accounting Standards Board (FASB) has announced new standards that will allow companies to use fair-value accounting for specific cryptocurrencies on their balance sheets. These standards, which will be effective from December 15, 2024, aim to improve the transparency of financial reporting for crypto assets.Previously, companies were required to value their crypto holdings at […]
In a recent court hearing in Singapore, Su Zhu, co-founder of Three Arrows Capital (3AC), faced questioning regarding the collapse of the crypto fund. The liquidators, Teneo, sought details on the fund’s failure and the location of assets in their efforts to recover billions of dollars owed to creditors.Zhu’s arrest at the Singapore airport in […]
