NYDFS Issues Guidelines to Protect Crypto Customer Fund
The New York State Department of Financial Services (NYDFS) released regulatory guidance on Monday, ordering all crypto companies to separate funds belonging to the customers and their own. The regulatory superintendent, Adrienne Harris, highlighted that the rules focus on protecting customers’ funds in case of an insolvency or similar proceeding. “DFS’s virtual currency regulation Regulation […]
Crypto Trends Defining 2022 and Could Happen in 2023
The cryptocurrency market has certainly seen its fair share of excitement over the years. Cryptocurrencies, such as Bitcoin, have garnered a lot of attention due to their potential to disrupt traditional financial systems and their ability to provide a decentralized and secure way to transfer value. There have been many developments in the cryptocurrency space […]
FBI says N. Korea-related hacker groups behind U.S. crypto firm heist By Reuters
© Reuters. FILE PHOTO: A North Korean flag flutters at the propaganda village of Gijungdong in North Korea, in this picture taken near the truce village of Panmunjom inside the demilitarized zone (DMZ) separating the two Koreas, South Korea, July 19, 2022. REUTER (Reuters) – Two hacker groups associated with North Korea, the Lazarus Group […]
Crypto Lender Nexo Fined $46.5M in the US
The crypto lending platform Nexo has settled with federal and state regulators in the United States for offering and selling unregistered securities, paying a total penalty of $45 million. The Securities and Exchange Commission (SEC) received $22.5 million, and the rest went to state regulatory authorities. In addition to the fine, the Attorney General of […]
Crypto lender Genesis has filed for bankruptcy
This did seem to be inevitable. Reporting comes via CNBC: Genesis Trading filed for bankruptcy protection after suffering crippling losses from the collapses of FTX and hedge fund Three Arrows Capital. The filing follows months of speculation over whether Genesis would enter bankruptcy protection, and just days after the Securities and Exchange Commission filed suit […]
Cowed crypto crowd feel winter freeze at WEF By Reuters
4/4 © Reuters. People stand in front of the Blockchain Hub Davos 2023 at the Promenade road during the World Economic Forum (WEF) 2023, in the Alpine resort of Davos, Switzerland, January 16, 2023. REUTERS/Arnd Wiegmann 2/4 By Paritosh Bansal and Divya Chowdhury DAVOS, Switzerland (Reuters) – In the snow and ice on the main […]
Genesis Is Preparing to File for Bankruptcy Within Days
Troubled crypto lender Genesis Global Trading, which has halted withdrawals, is in the final stages of preparation to file a Chapter 11 bankruptcy Bankruptcy Bankruptcy or insolvency constitutes a legal term and refers to being unable to repay debts. A business and a person can declare bankruptcy. When a person or company claims bankruptcy, it […]
ECB President Lagarde speaking Thursday. Also board member Knot speaks on crypto.
Ahead for the Europe/UK session on Thursday, 19 January 2023, the European Central Bank’s Lagarde and Knot 1030 GMT (0530 US ET) Participation by ECB President Christine Lagarde in a panel at Stakeholder Dialogue “Finding Europe’s New Growth” during the World Economic Forum in Davos 1400 GMT (0900 US ET) Dutch central bank chief Klaas […]
US Charges Bitzlato’s Founder with Processing $700M in Crypto for Criminals
The United States Department of Justice (DOJ) has charged Anatoly Legkodymov, the founder of China-based cryptocurrency exchange, Bitzlato, with processing over $700 million of illicit funds in cryptocurrency for darknet criminals between 2018 and 2022. DOJ disclosed on Wednesday that Legkodymov, a 40-year-old Russian national who resided in China, was arrested on Tuesday night in […]
Crypto Market Cap Fell by 64.1% to $829 Billion in 2022: Report
With bearish trends in Bitcoin (BTC), Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs), the market capitalization of the global cryptocurrency market slumped by 64.1% to $829 billion at the end of 2022, down from $2.3 trillion at the start of the year. In a similar fashion, spot trading volume on the top 10 crypto exchanges […]