Reported by: Arjun Kharpal The U.S. Securities and Exchange Commission could be gearing up to take action against Paxos, a company that issues a type of cryptocurrency called stablecoin. The move will have major implications for the $137 billion market, experts told CNBC. Stablecoins are a type of cryptocurrency designed to mirror real-world assets such […]
Reported by: Anushree Dave The U.S. Securities and Exchange Commission on Friday said it charged former NBA star Paul Pierce with promoting EMAX crypto tokens, sold by EthereumMAX, on social media, without disclosing that he was receiving payment for the promotion and for making possible misleading statements about the asset. The agency said that Pierce, […]
Reported by: Anushree Dave The U.S. Securities and Exchange Commission on Friday said it charged former NBA star Paul Pierce with promoting EMAX crypto tokens, sold by EthereumMAX, on social media, without disclosing that he was receiving payment for the promotion and for making possible misleading statements about the asset. The agency said that Pierce, […]
Reported by: George Glover Binance secretly moved large sums of money from its supposedly independent US partner to a company managed by the crypto giant’s boss Changpeng Zhao, according to Reuters. The publication said Thursday that Binance’s US partner started transferring money to Merit Peak in 2020 and sent the trading firm over $400 million in […]
Reported by: FinTech Global Despite their growing interest across investors, there are still huge challenges around money laundering with NFTs. In a recent post by Alessa, the company explained more about money laundering in the NFT space and how to deal with it. What qualities make the tokens attractive to money laundering? Alessa cited pseudonymous […]
Reported by: Dave Michaels Binance, the world’s largest cryptocurrency exchange, expects to pay monetary penalties to settle existing U.S. regulatory and law-enforcement investigations of its business, the firm’s chief strategy officer said in an interview. Binance grew quickly and began as a business powered by software engineers unfamiliar with laws and rules written to address the […]
Reported by: ZACHARY WARMBRODT Sen. Elizabeth Warren is branding herself as the scourge of crypto. And she’s not doing it alone. The progressive Massachusetts Democrat is starting to recruit conservative Senate Republicans to her anti-crypto cause and getting some early positive vibes from bank lobbyists, who also want to rein in digital asset startups. Crypto advocates are […]
Reported by: KEVIN GEORGE The NYDFS ordered Paxos to stop minting BUSD tokens due to “several unresolved issues related to Paxos’ oversight of its relationship with Binance through Paxos-issued BUSD.” This is not the first time that Binance, the world’s largest crypto exchange, has found itself in hot water with U.S. regulators. Binance has been […]
Reported by: Daniel Van Boom Before his precipitous fall from grace, Sam Bankman-Fried was crypto’s friendly face. His persona wasn’t just for customer consumption, but was also aimed at lawmakers. He lobbied politicians across both parties with his air of technocratic competence, and tens of millions of dollars in donations. Now, months after the company […]
Reported by: NICHOLAS SAY The United States Department of Justice (DoJ) are scrutinizing Silvergate’s relationship with embattled crypto firms FTX and Alameda Research. The DoJ fraud unit is looking into Silvergate’s hosting of accounts connected to FTX and Alameda Research, according to a source familiar with the matter quoted by Bloomberg. The crypto-friendly bank plays a […]
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