In a significant move to strengthen the oversight of the burgeoning crypto industry, the New York Department of Financial Services (NYDFS) has adopted new regulations aimed at enhancing consumer protection and ensuring the safety and soundness of crypto companies. Under the new framework, companies will be required to comply with rigorous standards for capitalization, cybersecurity...Read More
New York could become a ‘hub for Bitcoin and other cryptocurrencies’ if Andrew Yang is elected as the city’s mayor. Mayoral Candidate – Andrew Yang tweeted in support of cryptocurrencies earlier today, stating his intent to make the world’s financial capital more crypto centric. As mayor of NYC – the world’s financial capital – I...Read More
Using blockchain technology during a global pandemic would have seemed to be a no-brainer a few years ago. Today, it is anything but a given, although there are some different aspects being explored moving forward. In New York, one particular coronavirus-related blockchain effort is worth keeping an eye on. Blockchain Becomes of Big Interest all...Read More
Sweden’s Financial Supervisory Authority (FSA), ’Finansinspektionen’, has fined Swedbank a record sum of 4 billion Swedish krona ($386M) for breaching anti-money laundering regulations on a large scale. Around $5.8 billion had been funneled between suspected accounts in Swedbank and Danske Bank in the Baltics, the latter already fined large amounts for previous money-laundering activities. Also...Read More
Fidelity Investments is expanding its crypto services to European clients after seeing increasing potential in this market. The expansion builds upon the company’s U.S. crypto business. “We’ve seen significant interest and engagement by the institutional community, which show no signs of slowing,” the company revealed. Also read: Regulatory Roundup – Crypto ‘Inevitable’ in India, China...Read More
Facebook’s crypto scheme appears to have spurred regulators to take the social media giant’s privacy scandals more seriously. | Source: REUTERS / Aaron P. Bernstein Following reports earlier today that dozens of state attorney generals were set to officially commence antitrust investigations into Big Tech behemoths Facebook and Google, New York Attorney General Letitia James...Read More
Bitcoin exchange Bitfinex must provide documents to US authorities after a New York judge ruled against its request to dismiss a lawsuit against it. Judge U-Turns On Bitcoin Exchange Protection According to a filing dated August 19, the Supreme Court of the State of New York moved against Bitfinex and its sister company, stablecoin issuer...Read More
The New York State Supreme Court has ruled that Bitfinex is in the jurisdiction of the state’s Attorney General, allowing for a continuation of its investigation. The New York State Supreme Court has ruled that the New York Office of the Attorney General (NYAG) has jurisdiction over cryptocurrency exchange Bitfinex. According to a court filing...Read More
