Regulation

Wall Street movies offer insightful perspectives into the worlds of business, finance and power. They also emphasize how vital creativity, risk-taking and tenacity are to success. Viewers can learn more about the financial sector and its effects on society by watching these films. They can also serve as a source of encouragement and inspiration for

Stablecoins are a type of cryptocurrency offering investors price stability. The most popular stablecoins are those backed by the United States dollar — the world’s leading reserve currency. Others are less popular and not widely used, so many may not have heard of alternatives if they haven’t searched for them. According to data from the

Silvergate Bank — a prominent lender to crypto firms — lost five partners on March 2 due to a slew of investigations and lawsuits against it. Coinbase, Paxos, Gemini, BitStamp and Galaxy Digital were some of the most notable crypto firms using Silvergate as their banking partner. However, the termination of service by Coinbase has

Ras Al Khaimah’s recently announced free zone for virtual asset firms will explore accepting crypto payments from companies looking into setting up their businesses in the emirate, a lawyer involved in the hub’s development said. Dubai-based crypto lawyer Irina Heaver told Cointelegraph that once the Ras Al Khaimah Digital Assets Oasis (RAK DAO) secures the

Two United States lawmakers have criticized crypto accounting guidelines outlined by the securities regulator, arguing it places crypto customers at greater risk of loss. The guidelines came from the United States Securities and Exchange Commission (SEC), which became effective in April last year. The guidelines ask financial companies holding crypto for customers to recognize all

Some Celsius customers have reported being able to withdraw funds from the bankrupt crypto firm for the first time, some 263 days after the lender froze withdrawals in the lead-up to its bankruptcy filing. According to numerous social media posts, as of Mar. 2, certain customers who held funds in Celsius’ Custody accounts have been

United States Securities and Exchange Commission Chair Gary Gensler has again backed a proposed rule that would extend asset custody rules to more cryptocurrencies, saying investors need more protection. The commission’s Investor Advisory Committee has proposed expanding 2009 rule designed to reduce the risk of advisers embarking on Ponzi schemes to all asset classes, including

United Kingdom babanks HSBC Holdings and Nationwide Building Society are banning cryptocurrency purchases via credit cards for retail customers. They join a growing list of banks in the country to tighten restrictions on digital assets.  A Bloomberg report on March 2 claims the step back is a response to warnings by UK regulators and scandals

Three United States senators led by Elizabeth Warren have sent a letter to Binance CEO Changpeng “CZ” Zhao and Binance.US CEO Brian Shroder expressing concern over a number of facets of Binance’s activities and requesting information from the companies that includes their balance sheets.  Crypto skeptic Warren’s cosigners were fellow Democrat Chris Van Hollen and

Two United States senators have penned a letter asking Meta CEO Mark Zuckerberg to halt a plan to allow young adults to access the firm’s metaverse platform, Horizon Worlds. In a March 1 letter, Senators Edward Markey and Richard Blumenthal said that Meta’s reported plan to “invite young users into a digital space rife with

The Office of the Attorney General for the District of Columbia in the United States is moving forward on a lawsuit against business intelligence firm MicroStrategy executive chair Michael Saylor related to tax evasion. According to a Feb. 28 filing with the U.S. Securities and Exchange Commission, MicroStrategy said the court had not dismissed a

Legislation has been introduced in the American state of South Dakota to amend the Uniform Commercial Code (UCC) to limit the definition of money to exclude cryptocurrencies. Central bank digital currencies (CBDCs) would still be considered money under the proposed new definition.  The 117-page amendment, introduced into the state House of Representatives by Republican Mike

Cryptocurrency exchange Coinbase announced that it had terminated its partnership with Silvergate Bank as its United States dollar banking partner, citing an ongoing investigation. In a tweet, the exchange said: “In light of recent developments & out of an abundance of caution, Coinbase is no longer accepting or initiating payments to or from Silvergate.“ The

Amid various reports about Binance trying to revive its crypto licensing plans in Singapore, the crypto exchange has set the record straight. Binance told Cointelegraph that Ceffu, its “independent institutional custody partner,” will apply for an institutional crypto custody license when Singapore’s central bank opens applications. Singapore has established itself as a hub for crypto

An investor with nearly $2 million worth of funds frozen in bankrupt cryptocurrency lender BlockFi has filed a class action complaint against its founders, two directors and crypto exchange Gemini. In a Feb. 28 complaint filed in the U.S. District Court for the District of New Jersey, investor Trey Greene accused the defendants of numerous

The United States commodities regulator is set to take a close look at the decentralized finance space at an upcoming meeting of its tech committee, where it has also invited crypto industry executives to present. The Commodities Futures Trading Commission (CFTC) announced on March 1 that the agenda for the March 22 meeting of its Technology Advisory

For years, Bitcoiners have repeated the mantra “be your own bank.” But in truth, storing any type of crypto in a wallet has been a lot closer to stuffing cash under your mattress than to a complex financial institution like a bank. Admittedly, it’s an improvement in that crypto can be transferred across the globe

Around 20% of banks have exposure to crypto assets, a Bank for International Settlements (BIS) report released Feb. 28 found. The majority of those banks are in the Western Hemisphere.  According to the report — which is based on data from the first half of 2022 — 17 Group 1 banks reported approximately 2.9 billion

Civil charges were announced against former FTX director of engineering Nishad Singh on Feb. 28, the same day he entered a guilty plea to three counts of criminal fraud in Manhattan district court. Both the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are pressing charges against Singh. Singh

Stablecoins are entering a period of great uncertainty following the U.S. Securities and Exchange Commission labeling BUSD an “unregistered security” and ordering Paxos to stop minting new tokens. Do these moves signal a wider war by U.S. regulators on stablecoins? Could the SEC declare all stablecoins securities, or is BUSD a special case? Independent crypto