modernsociety
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11 months, 2 weeks agoSEC Chief Considers Approval of Bitcoin Spot ETF Amid Negotiations with BlackRock
The Securities and Exchange Commission (SEC) chief, Gary Gensler, may change his stance on approving Spot Bitcoin ETFs. In a recent interview with CNBC, Gensler mentioned that the courts of Washington DC have…
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11 months, 2 weeks agoRegulators Warn of Risks in Unsupervised AI Adoption for US Financial System
A panel of regulators has raised concerns about the rapid adoption of artificial intelligence (AI) and its potential risks for the United States’ financial system. The Financial Stability Oversight Council, c…
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11 months, 2 weeks agoJulius Bär Bank Faces Potential Conflicts of Interest and Risky Investments
Christian Dubler, Managing Director of Julius Bär in Frankfurt, has been in the spotlight recently due to his personal investment in Signa Sports United (SSU). According to a 2021 SEC listing, Dubler holds 100,000…
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11 months, 2 weeks agoElon Musk's Assurances Fail to Prevent Potential Losses for Banks in X Takeover
Elon Musk has privately assured bankers who lent him $13 billion to finance the acquisition of the social media platform X that they will not lose any money in the deal. These verbal assurances were made to…
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11 months, 2 weeks agoThe Human Factor: Key to Success in the Banking Industry in 2023
The year 2023 proved to be a challenging one for the banking industry, with several major banks facing downfall and collapsing in the US. However, amidst this turbulent environment, many bank managers successfully…
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11 months, 2 weeks agoExploit in Ledger Library Raises Concerns in Crypto Industry
A recent exploit in the Ledger Library, which is integrated into many cryptocurrency projects, has caused widespread concern and market instability. This event highlights the pervasive risks in the digital asset…
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11 months, 2 weeks agoSEC Chair Gary Gensler Hints at Reconsidering Approach to Bitcoin ETFs Following Grayscale Court Decision
The U.S. Securities and Exchange Commission (SEC) is reconsidering its approach to spot Bitcoin exchange-traded products following a recent court decision involving Grayscale. SEC Chair Gary Gensler revealed in an…
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11 months, 2 weeks agoTether Freezes Crypto Wallets Linked to Sanctioned Individuals and Entities
Tether, the largest issuer of stablecoin USDT, has implemented a new policy to freeze crypto wallets associated with individuals and entities sanctioned by the US Treasury’s Office of Foreign Asset Control (…
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11 months, 2 weeks agoEl Salvador Approves Volcano Bitcoin Bonds to Fund Bitcoin City Construction
El Salvador has received regulatory approval for its Volcano Bitcoin bonds, which aim to raise $1 billion from investors. These bonds are supported by the country’s Bitcoin mining industry, which utilizes r…
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11 months, 2 weeks agoKuCoin Settles Lawsuit with NY Attorney General, Pays $22 Million Penalty
New York Attorney General Letitia James has reached a $22 million settlement with KuCoin, one of the world’s largest cryptocurrency exchanges. The agreement resolves a lawsuit that accused KuCoin of operating w…
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11 months, 2 weeks agoCoinbase Expands International Exchange to Address Regulatory Uncertainty
US-based cryptocurrency exchange Coinbase has announced plans to expand its international exchange by offering spot trading. The move is in response to hesitancy among some users to trade on US venues due to…
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11 months, 2 weeks agoRegulatory Dispute Over Cryptocurrency Classification Creates Uncertainty for US Crypto Industry
Rostin Behnam, the chairman of the US Commodity Futures Trading Commission (CFTC), has expressed concerns about the lack of clear regulatory guidelines for cryptocurrencies in the United States. He believes that…
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11 months, 2 weeks agoNasdaq Shifts Focus to Carbon Markets with Blockchain Technology
Nasdaq, the largest stock exchange in the US, has decided to repurpose its blockchain technology developments after discontinuing its plans to launch a custodian business for digital assets due to regulatory…
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11 months, 2 weeks agoArgentina's New President Implements Peso Devaluation and Cuts Subsidies, Paving the Way for Cryptocurrency Adoption
Argentina’s new President, Javier Milei, has implemented a 50% devaluation of the Argentine peso and made cuts to energy and transportation subsidies. This move has caused the peso’s value to drop from 400 to 800…
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11 months, 2 weeks agoIMF Managing Director Urges Comprehensive Crypto Regulations for Financial Stability
Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), has highlighted the urgent need for comprehensive regulations in the cryptocurrency industry. Speaking at a panel discussion…
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11 months, 2 weeks agoPhilippines SEC Chair Announces Plans to Block and Ban Binance within Three Months
The Philippines Securities and Exchange Commission (PSEC) is taking steps to block and ban Binance, a cryptocurrency exchange, within three months. The commission issued an advisory warning users about Binance’s s…
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11 months, 2 weeks agoNew Accounting Standards Update Enhances Crypto Asset Accounting and Disclosure
The Financial Accounting Standards Board (FASB) has released a new Accounting Standards Update (ASU) aimed at improving the accounting and disclosure of specific crypto assets. This update is in response to…
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11 months, 2 weeks agoLedger's Connector Library Breached, Posing Significant Risk to Wallet Users
In a major security breach, hackers have targeted Ledger’s connector library, compromising numerous decentralized applications (dApps) that rely on Ledger’s technology. This breach has put Ledger wallet users at…
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11 months, 2 weeks agoSupply Chain Attack on LedgerConnect Kit Results in Theft of Over $480,000 in Assets
In a recent security breach, unknown attackers targeted Ledger, a popular hardware wallet provider, with the aim of exploiting their LedgerConnect kit. The attack involved injecting a “wallet-draining payload” int…
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11 months, 2 weeks agoLGT Completes Acquisition of Abrdn's Discretionary Fund Management Business, Expanding Regional Presence
LGT has successfully completed the acquisition of Abrdn’s discretionary fund management business in the UK and Jersey. This £140m deal, which was initially announced in February, has allowed LGT Wealth Ma…
