NYDFS to Assess Supervisory Costs from Licensed Crypto Firms
The New York State Department of Financial Services (NYDFS) has announced that it will be adopting a new regulation that will allow the government agency to assess supervisory costs from…
Binance.US Struggles to Find Banking Partner in the U.S.
Binance.US, the United States arm of the global crypto exchange, has been experiencing difficulties in establishing a new bank partner to serve as a fiat on-ramp and off-ramp for its…
Crypto Advocacy Group Calls on Regulators to Address De-Banking of Crypto Firms
The recent failures of banks providing services to crypto firms in the United States have raised concerns in the crypto community about a perceived “de-banking” of the industry. In response,…
Crypto Firms Report Funds Tied Up with Shuttered Signature Bank
On March 12, New York regulators and the United States Federal Deposit Insurance Corporation shut down Signature Bank, a crypto-friendly bank that had reportedly become a systemic risk to the…
FDIC Calls Out FTX US, Other Crypto Firms to Stop Misleading Users About Deposit Protection
The Federal Deposit Insurance Corporation (FDIC), a US government agency tasked with stabilizing the financial system in the event of bank failures, on Friday issued five cease-and-desist letters demanding five…
SEC Seeing ‘Lots’ of Crypto Firms are Non-Compliance: Gensler
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler said Tuesday that there is a lot of noncompliance in the cryptocurrency space. “We at the SEC are going to do…
Hong Kong’s OSL and US-Based Abra Become the Latest Crypto Firms to Announce Layoffs
Abra, a California-based crypto trading and lending platform, and OSL, a licensed crypto exchange based in Hong Kong, are the latest in a string of crypto start-ups that have announced…
FCA Extends Temporary Registration Deadline for Selected Crypto Firms
The U.K.’s Financial Conduct Authority, the regulator of the financial services industry in the United Kingdom, announced Wednesday it has pushed the deadline for registration for some crypto firms in…
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64 Cryptocurrency Firms Have Withdrawn Applications To Operate In UK, FCA Says
A growing number of crypto firms in the U.K. are withdrawing their applications to register with the Financial Conduct Authority (FCA). Around 64 firms have already withdrawn their applications and…