These deadlines were expected, as the SEC has traditionally taken the full 240 days to make a final decision. However, the threat of a looming shutdown seems to have pushed its interim decision up to Tuesday. Normally, the SEC waits until a few days prior to the deadline. In 2019, during the last shutdown, the SEC asked an applicant to withdraw its filing entirely. Original
Chase U.K. will block all crypto payments over fraud and scam allegations. Chase U.K., a U.K. entity of the global bank, warned its customers that starting Oct. 16, it will block all crypto-related payments in an email to the customers. The email specified that customers are still free to interact with their cryptocurrency service providers through a different bank of their choosing. “If we think you’re making a payment related to crypto assets, we’ll decline it,” the email reads. The email further explained that Chase came to the decision to…
The customers of bankrupt cryptocurrency lending platform BlockFi are one step closer to being paid out after a United States Bankruptcy Court in New Jersey approved its liquidation plan. Bankruptcy Judge Michael A. Kaplan approved BlockFi’s third amended Chapter 11 plan in a Sept. 26 court hearing, a filing on the same day shows. Sept. 26 court filing in the bankruptcy case of BlockFi. Source: Kroll The amount of repayment received by BlockFi’s unsecured creditors will largely depend on whether BlockFi succeeds in its legal battle against FTX and other…
One of the top US-based crypto exchanges is expanding globally into major European financial hubs. According to a new press release, Kraken Exchange has secured an E-Money Institution (EMI) registration with the Central Bank of Ireland, as well as a Virtual Asset Service Provider (VASP) registration with the Bank of Spain. Ireland’s EMI license will allow Kraken to deal with European banks. Spain’s VASP registration will allow Kraken to operate as a crypto exchange and wallet provider. Says Curtis Ting, Kraken’s vice president of global operations, Our market-leading position in liquidity…
HTX (formerly known as Huobi), one of the leading cryptocurrency exchanges, has been embroiled in a new controversy as Justin Sun, Tron’s founder and BitTorrent’s CEO, faces allegations of a staggering $2.4 billion shortfall in user funds. Adam Cochran, Managing Partner at Cinneamhain Ventures, has shed light on the intricate details of the alleged malpractice, revealing a web of “financial manipulations.” Huobi Crisis Unveiled? Cochran’s analysis raises concerns over Huobi’s financial stability, questioning the integrity of the exchange’s claims regarding its holdings of Ethereum (ETH) and USDT, a stablecoin pegged…
The Abu Dhabi Global Market (ADGM) has granted Laser Digital, the digital assets arm of Japan’s Nomura Bank, in-principal approval to provide broker-dealer services and asset/fund management services with both digital and traditional assets, according to an ADGM communication on Sept. 26. Laser Digital can receive full Financial Services Permission to operate after fulfilling conditions specified in the current approval. Those conditions were not specified in the communication. Laser Digital CEO Jez Mohideen said of the ADGM in the communication: “Their comprehensive and clear regulatory framework is creating a global…
While not much is known about the Lazarus Group, researchers have attributed numerous cyber attacks to them over the past decade, as well as ties to Russia. The most notorious crimes of Lazarus Group The Lazarus Group (also known as the Guardians of Peace or the Whois Team) is a cybercriminal group with an unknown number of hackers. One of the earliest attacks is known as “Operation Troy”, which took place from 2009–2012. In 2014, Lazarus attacked Sony Pictures Entertainment and stole over 276 thousand company files, immediately appearing on…
The United States Securities and Exchange Commission (SEC) is taking the maximum time allowed for the regulator to reach a decision on a spot Bitcoin (BTC) exchange-traded fund, or ETF, offering from ARK 21Shares. In a Sept. 26 notice, the SEC said it would designate a longer period on whether to approve or disapprove of a proposed rule change that would allow ARK 21Shares’ spot BTC ETF on the Cboe BZX Exchange. The commission’s previous delay on Aug. 11 gave the regulator until Nov. 11 to decide whether to approve,…
The financial sector was abuzz recently, with Citibank announcing a platform backed by blockchain technology to transform institutional savings into tokens. This news drew interest from various quarters, including prominent financial educator and “Rich Dad Poor Dad” author Robert Kiyosaki, who tied it to Bitcoin. Using the X (formerly known as Twitter) platform, Kiyosaki expressed curiosity about the potential ramifications this could have for Bitcoin and the US dollar, igniting a flurry of responses from the online community. Citibank’s Dive Into Tokenization Citibank’s recent dive into the realm of blockchain technology…
Four members of the United States Congress are requesting Securities and Exchange Commission (SEC) chair Gary Gensler “immediately” approve the listing of spot Bitcoin (BTC) exchange-traded funds, or ETFs. In a Sept. 26 letter to Gensler, U.S. Representatives Mike Flood, Wiley Nickel, Tom Emmer and Ritchie Torres claimed the SEC was “discriminat[ing] against spot bitcoin exchange traded products”, citing the legal precedent set by Grayscale Investments in winning a review of its own ETF offering. The four lawmakers told Gensler there was “no reason to continue to deny” spot crypto…