All Cryptocurrency articles – Page 3
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CFTC commissioner floats pilot program for digital asset markets
Commissioner Caroline Pham of the Commodity Futures Trading Commission proposed the agency develop a regulatory pilot program for digital asset markets where new initiatives could be introduced and refined.
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News Brief
Fintech to pay $1M in first violation of SEC’s amended marketing rule
The Securities and Exchange Commission ordered Titan Global Capital Management USA to pay more than $1 million for allegedly misleading investors with hypothetical performance metrics in its advertising.
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News Brief
Fed raps FTX-linked bank for unapproved switch to digital banking
The Federal Reserve Board placed restrictions on Washington-based Farmington State Bank after taking issue with how the liquidating financial institution changed its business plan without seeking proper approvals.
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Bittrex, foreign affiliate to pay $24M over unregistered sale of securities
The Securities and Exchange Commission ordered cryptocurrency trading platform Bittrex and its foreign affiliate Bittrex Global to pay $24 million for running an unregistered national securities exchange, broker, and clearing agency.
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News Brief
Robinhood discloses New York AG probe into brokerage execution
Online brokerage Robinhood Markets disclosed in a quarterly filing it is under investigation regarding the quality of its brokerage execution.
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Common sanctions compliance trip points from 2023 enforcement cases
Penalties against companies including British American Tobacco, Wells Fargo, and Microsoft demonstrate the multiple ways in which businesses can run afoul of U.S. sanctions—an area receiving increased scrutiny by regulators.
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Binance promotes head of legal to general counsel
Cryptocurrency exchange Binance announced the promotion of Head of Legal Eleanor Hughes to general counsel.
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Survey: Financial institutions doing more with less by outsourcing compliance
Respondents to a recent survey conducted by Compliance Week and Guidehouse largely indicated outsourcing improved the effectiveness of their compliance program in fighting financial crime, though limits remain on how much can be outsourced.
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Experts: XRP ruling offers little clarity on crypto regulation
A judge’s ruling the token XRP does not intrinsically possess the characteristics of a security that must be registered with the Securities and Exchange Commission has not cleared the uncertainty that remains around the regulation of digital assets, according to experts.
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News Brief
SEC orders Future FinTech Group to pay $1.65M over accounting lapses
Future FinTech Group agreed to pay $1.65 million to settle charges levied by the Securities and Exchange Commission for filing materially inaccurate annual reports and failing to maintain adequate books, records, and internal control over financial reporting.
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News Brief
Lawsuit: Ex-FTX CCO bribed whistleblowers into silence
The former chief compliance officer at cryptocurrency exchange FTX paid off whistleblowers and their lawyers trying to expose the company’s fraud, according to a lawsuit filed in bankruptcy court by FTX and its debtors.
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Kroll survey: Firms rapidly adopting AI tools for financial crime compliance
A new survey of senior leaders and risk professionals from around the world found more than half the respondents have turned to artificial intelligence technology to address a perceived rise in financial crime risks, although most solutions are still rather new.
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OCC’s Hsu: FIs wise to include risk, compliance in tech product development
As financial institutions mull potential growth opportunities with digital asset and artificial intelligence tools, Acting Comptroller of the Currency Michael Hsu warned against leaving risk and compliance teams out of the loop.
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News Brief
SEC continues crusade against crypto with Coinbase charges
The Securities and Exchange Commission continued its crackdown on the digital asset industry, charging cryptocurrency exchange Coinbase with violating federal securities laws.
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News Brief
SEC charges Binance, founder in latest crypto crackdown
The Securities and Exchange Commission charged Binance Holdings, its U.S.-based affiliate BAM Trading Services, and their founder Changpeng Zhao with a series of securities law violations, including operating unregistered exchanges.
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Ex-Coinbase manager gets two years in prison in crypto insider trading case
Former Coinbase product manager Ishan Wahi was sentenced to two years in federal prison for his role in a crypto insider trading scheme.
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News Brief
New York vies to lead way on cryptocurrency regulation
New York would be the first state in the nation to comprehensively regulate cryptocurrency under a sweeping bill introduced by Attorney General Letitia James.
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Blog
Fortress Trust names chief compliance officer
Fortress Trust announced the appointment of Richard Booth as chief compliance officer.
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News Brief
Crypto exchange Poloniex to pay $7.6M in OFAC sanctions case
Cryptocurrency exchange Poloniex agreed to pay nearly $7.6 million as part of a settlement with the Office of Foreign Assets Control for engaging with more than 200 customers across a handful of sanctioned regions.
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Blog
FV Bank names chief risk officer, deputy CCO
Puerto Rico-based FV Bank, a blockchain financial technology company, announced the appointment of Luz Mabel del Valle as chief risk officer and deputy chief compliance officer.