โBitForex, purportedly headquartered in Hong Kong, has neither been licensed by the SFC nor applied to the SFC for a license to operate a VATP in Hong Kong,โ Hong Kongโs Securities and Futures Commission (SFC) said. BitForex is also licensed to operate in Canada. Source
Tag: Issues
Fluidkey Launches to Tackle the Transaction Privacy Issues on EVM Chains
Fluidkey has announced it has opened its Optimism-based alpha to more users, allowing them to test their private solutions. Fluidkey seeks to solve the transaction privacy problem in EVM chains by leveraging ENS and stealth addresses, allowing users to use a new self-custodial asset for each payment, and segregating these movements to avoid linkability. Fluidkey [โฆ] Source CryptoX Portal
HKMA Issues Guidance for Firms Offering Crypto Custody
The collapse of FTX, Terra, and Three Arrows have led authorities to frame regulations or guidance to protect customers from inadequacies in the digital asset industry. The HKMA document says firms should hold clients’ digital assets in separate accounts segregated from the firm’s own assets in the event of insolvency. Companies should prevent the use of client assets for the firm’s accounts. Source
Crypto custodian Bakkt discloses to the SEC it is facing liquidity issues
The platform Bakkt said that if it fails to raise money through debt financing or equity dilution, it will not have enough funds to continue operations. In disclosing risks to the U.S. Securities and Exchange Commission (SEC), platform Bakkt questioned whether it could ensure its financial stability next year. Current reserves, including restricted cash, may need to be increased to support operations through 2025. Founded in 2018, the company provides custodial services for institutional and retail investors interested in exposure the crypto, operating under the Bakkt Trust Company LLC, functioning…
Taproot Wizards Debut Sale of Bitcoin NFTs ‘Quantum Cats’ Marred by Tech Issues
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…
TrueUSD Wobbles Towards $1 Peg Amid Reported Redemption Issues
TUSD went as low as 96 cents as Binance data shows traders apparently sold over $300 million worth in the past 24 hours. Source
Gary Gensler issues crypto warning amid Bitcoin ETF decision
SEC Chairman Gary Genslerโs recent crypto warnings coincide with major asset managers filing for Bitcoin ETF approval, signaling regulatory scrutiny. SEC Chairman Gary Gensler recently delivered a series of warnings through a Twitter thread, urging potential investors in crypto assets to be mindful of the risks and regulatory landscape. In his thread, Gensler stated, โThose offering crypto asset investments/services may not be complying w/ applicable law, including federal securities laws.โ He emphasized that investors in crypto asset securities might be deprived of key information and essential protections. A thread ๐งต…
Singapore’s prime minister issues warning following deepfake crypto video with him
Singaporeโs prime minister Lee Hsien Loong warned the public about a deepfake video, depicting him promoting a crypto scam โenvisioned by Elon Musk.โ In an X post on Dec. 29, Singaporeโs prime minister Lee Hsien Loong has issued a public warning that addressed the emergence of deepfake videos depicting him promoting crypto scams with the help of artificial intelligence (AI) to mimic his voice and image. Recently, there have been a number of audio deepfake videos that use AI technology to mimic my voice to promote crypto scams. If you…
India Issues Compliance ‘Show Cause’ Notices to 9 Offshore Exchanges Including Binance and KuCoin
Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and Bitfinex are the nine exchanges. The government has also taken the first steps to block the URLs of “said entities that are operating illegally without complying with the provisions of the PMLA in India.” Source
Global Securities Regulator IOSCO Issues DeFi Policy Recommendations
Responsible persons include anyone “exercising control or sufficient influence over a financial product offered, financial service provided, or financial activity engaged in (or over products, services, and activities that behave like, or have been substituted by investors for, financial products, services, and activities) by the DeFi arrangement.” Source