ICO Misconduct Takes Center Stage in SEC Enforcement Report

Twitter Facebook LinkedIn Despite the fact that the US Securities and Exchange Commission (SEC) has yet to craft a clear regulatory framework for cryptocurrencies, the agency placed a great deal of emphasis on the space this year, particularly on initial coin offerings (ICOs). The SEC’s Division of Enforcement published its fiscal year 2018 annual report, the …

Coinsource Receives First BitLicense to Operate Bitcoin ATMs in New York

Twitter Facebook The world’s largest bitcoin ATM company has finally received official approval to operate in New York. They had previously been operating in New York almost since the company’s inception via a provisional license. Last year, they received coverage in the New Yorker and have frequently been in the news with word of new …

Russian Financial Watchdog Calls for Global Crypto Exchange Regulations

Russia’s Financial Monitor Service (FMS) is seeking the intervention of a global financial watchdog to regulate cryptocurrencies, local media sources have reported. Russia Wants Global Crypto Regulations The Russian financial regulatory agency contacted the Financial Action Task Force (FATF) to request an intergovernmental initiative that could control the supply and flow of cryptocurrencies. Pavel Livadny, the Deputy …

Major Economies Should Coordinate Crypto Regulations: Circle CEO

Major economies around the world should coordinate efforts to create global crypto regulations, said Jeremy Allaire during his interview with Reuters. The CEO of Circle, a cryptocurrency startup backed by Goldman Sachs and valued at $3 billion, highlighted an apparent lack of regulations across the world in the face of booming crypto adoption. The entrepreneur recognized …

German Court Ruling Raises Questions about Bitcoin’s Legal Status

Until recently, Germany’s Federal Financial Supervisory Authority (BaFin) classified bitcoin as a financial instrument, but a subsequent court ruling disclaimed this categorization and decided that the cryptocurrency does not meet this definition under the terms of the German Banking Act (KWG). Bitcoin Unrecognizable to German Legal Framework The Berlin Court of Appeal in September dismissed …

SEC Suspends Cryptocurrency-Related OTC Stock for False Claims

The Securities Exchange Commission (SEC) this morning suspended trading in the securities of American Retail Group, Inc (OTC: ARBG) as a result of allegations that the company made false statements involving cryptocurrency, including that it had partnered with an “SEC-qualified custodian.” The accompanying statement from the agency references two August 2018 press releases from the Nevada-based …

Major Nordic Bank Bans Bitcoin, Gets Caught For Money Laundering

Nordea Bank, the largest financial group in the Nordic countries, which banned Bitcoin in January, has been caught in a major money laundering scandal for allegedly receiving dirty money from two banks in the Baltics. Yle, a state-owned publication in Finland with over 3,500 employees, reported that finance authorities in Sweden received a report with …

UK Telecom Regulator Receives £700,000 Blockchain Grant for Managing Phone Numbers

UK national telecoms regulator Ofcom has received £700,000 ($912,000) to explore blockchain solutions in UK landline telephone management. The grant was issued by the Department of Business, Energy, and Industrial Strategy. An Ofcom announcement states that between now and April 2020, industry participants will be invited “to trial the porting and management of millions of …

Malta Financial Regulator Looks to Bolster Cryptocurrency Industry

Having earned the reputation of “Blockchain Island”, Malta is taking steps to preserve the industry by investing heavily in supervisory technology in order to protect the blockchain industry. Such investments according to authorities are aimed at ensuring that the inherent risks associated with virtual currencies are kept at a minimal level in Malta. There Is …

BitMEX Taps Former Hong Kong Regulator as Chief Operating Officer

BitMEX, one of the largest cryptocurrency trading platforms, has named Angelina Kwan, formerly managing director and head of regulatory compliance for Hong Kong Exchanges and Clearing Limited (HKEX), as its chief operating officer. Kwan, who joins the company as it rides exceptional growth, will work with regulators worldwide to develop rules that will support cryptocurrency’s …