Founder of Peer-to-Peer Crypto Exchange Paxful Pleads Guilty Over Anti-Money Laundering Program Failures: DOJ

The co-founder and former director of peer-to-peer cryptocurrency marketplace Paxful has pleaded guilty to charges related to the platform’s failure to gather sufficient know-your-customer (KYC) information from its users. Paxful is a virtual currency platform and money transmitting business where users traded crypto assets in exchange for other items. In a statement, the U.S. Department of Justice (DOJ) says that from July 2015 to June 2019, Artur Schaback marketed Paxful as a platform that did not require KYC and allowed customers to open accounts and trade on the platform without…

Cryptocurrency is Not the Paradigm Shift You’re Thinking About – SuperCryptoNews

Did you hear? Donald Trump will speak at the Bitcoin 2024 conference. The Republican Party put crypto on its electoral platform. Not too shabby. Another US presidential candidate, Robert F Kennedy, Jr, said he’d use blockchain to improve the government and offered Bitcoin as a currency option. That’s nice to know, but doesn’t that defeat the purpose? Why would you use blockchain technology to manage a centralized entity? You only need blockchains to manage entities that don’t share a common database or business process. Why does it matter whether the…

How Did the E-remittance Exchange Pilot Succeed?

The Business Payments Coalition’s E-remittance Exchange Pilot, running from September 2023 to June 2024, demonstrated that electronic remittance information could be exchanged automatically between businesses. This success was largely due to the development and testing of a new e-remittance data model that standardizes the formatting and exchange of remittance information. By proving the viability of this model, the pilot showed that automation in B2B payments is not only possible but highly beneficial. What Are the Immediate Benefits for Businesses? The immediate benefits for businesses adopting the new e-remittance data model…

Bitget Ranks Third among Crypto Exchanges for Capital Inflows in Q2

FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents Finance Magnates Pacific Summit 2024 (FMPS:24), is the premier event for the retail investing industry and fintech community in the Asia Pacific region. This dynamic platform connects global expertise, fostering growth and innovation across online trading,…

Tech Coalition Urges Biden to Lead on Cryptocurrency Regulation

In a recent letter to U.S. President Joe Biden, the Chamber of Progress, a tech industry coalition, called for comprehensive cryptocurrency regulation. The group emphasized the importance of a clear regulatory framework for digital assets, highlighting the potential benefits for both investors and the U.S. economy. Chamber of Progress to Biden: Seize Opportunity for Comprehensive […] Source

Crypto Exchange Volumes Dip 20% in June, But Huobi Bucks the Trend

FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents FMPS:24 | Connecting the Future of Finance Across Continents Finance Magnates Pacific Summit 2024 (FMPS:24), is the premier event for the retail investing industry and fintech community in the Asia Pacific region. This dynamic platform connects global expertise, fostering growth and innovation across online trading,…

Interactive Brokers Cites 'Administrative Challenges' to Delay Prediction Exchange Launch

The launch of ForecastEx, a prediction exchange specializing in economic and climate events, has been postponed until later in the summer due to administrative issues, according to Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers. ForecastEx Market Designations Approved ForecastEx, a wholly-owned subsidiary of Interactive Brokers Group, has received the required designations from the Commodity Futures Trading Commission (CFTC) to operate as a contract market and derivative clearing organization. The exchange was originally planned to begin operations on Monday, July 8, 2024. Steve Sanders informed Traders Magazine…

Nigeria’s Finance Minister Urges SEC to Tackle Challenges in Regulating Cryptocurrency

The Nigerian Finance Minister, Wale Edun, has urged the newly inaugurated board of the country’s Securities and Exchange Commission (SEC) to address the complexities of regulating cryptocurrencies. He emphasized the need for stringent oversight to maintain market integrity in the capital market. Edun also highlighted the importance of staying informed and adaptable, especially in fast-evolving […] Source

London Stock Exchange Group's Patrick Strobel Moves to LCH as Chief Technology Officer

Global clearing house LCH, which was acquired by the London Stock Exchange Group (LSEG), has named Patrick Strobel its Chief Technology Officer. Strobel, who has been with LSEG as the Head of SwapClear and Regulatory Reporting Technology for more than three years, announced his latest career move today. Experience from Major Brands According to Strobel’s profile, he also held the role of Head of Securities Technology and UnaVista until 2022. The veteran executive has also worked for other major industry brands in the past, including Liquidnet, Deutsche Bank, and JPMorgan.…