All Cryptocurrency articles – Page 3
-
PremiumPresident-elect Trump’s Commerce Department pick Howard Lutnick to head tariff, trade agenda
President-elect Donald Trump announced he plans to appoint Cantor Fitzgerald President and CEO Howard Lutnick to lead the U.S. Commerce Department, as the incoming administration is expected to charge import tariffs against friends and foes.
-
News BriefSEC penalizes Rimar CEO, holding company board member $524K total for ‘AI washing’
The Securities and Exchange Commission ordered the owner of Rimar Capital and a board member of its holding company to pay nearly $524,000 in penalties for defrauding investors with false and misleading statements about its use of artificial intelligence.
-
News BriefFinCEN, OFAC sanction crypto platforms linked to Russia, cybercrime
U.S. and European law enforcement agencies have announced sanctions against two Russia-linked cryptocurrency platforms in their ongoing chase to snuff out Russian-linked financial platforms that assist cybercriminals.
-
News BriefSEC to host Nov. 7 virtual compliance seminar for investment advisers
The Securities and Exchange Commission will host a virtual national seminar on Nov. 7 targeted toward chief compliance officers at investment companies and investment advisers.
-
News BriefPrager Metis agrees to pay $2M over failed audits, including FTX
Waves of fallout from the collapse of cryptocurrency trading platform FTX continue to ripple, as accounting firm Prager Metis has learned.
-
Blog
Bitget welcomes new legal chief
Cryptocurrency exchange and Web3 company Bitget announced the appointment of Hon Ng as its chief legal officer.
-
PremiumQ&A: Paxful CCO on ramping up compliance after BSA failures
Manfred Bekeris, chief compliance officer at cypto peer-to-peer network Paxful, sat down with Compliance Week to talk about joining the company shortly before its former chief operating officer and co-founder pled guilty to violating the Bank Secrecy Act.
-
News BriefFTX, Alameda to pay $12.7B in historic settlement with CFTC
FTX Trading and its sister cryptocurrency exchange Alameda Research will pay $12.7 billion to settle charges laid by the Commodity Futures Trading Commission that the two companies violated the Commodity Exchange Act and CFTC regulations.
-
PremiumDORA set to enhance cyber resilience requirements for EU financial firms
The European Union’s Digital Operational Resilience Act, which is set to take effect next year, will require financial services firms to implement stronger measures to protect not only themselves from disruption caused by cyberattacks but also the sector as a whole.
-
News BriefFCA fines Coinbase subsidiary $4.5M over providing service to high-risk customers
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
-
News BriefFTX reaches $4 billion settlement with CFTC in bankruptcy court lawsuit
FTX Trading and the Commodity Futures Trading Commission have agreed on a $4 billion settlement in bankruptcy court to settle the CFTC’s lawsuit against the failed crypto trading platform.
-
News BriefDOJ latest agency to charge crypto platform BitMEX for BSA/AML failures
The parent company of crypto-trading platform BitMEX is again facing charges of violating the Bank Secrecy Act, the latest in a string of punishments against the company and its founders for failing to implement adequate know your customer and anti-money laundering programs.
-
News BriefEx-Paxful co-founder pleads guilty to violating BSA/AML regulations
The co-founder and former chief technology officer of crypto peer-to-peer network Paxful faces charges related to violating the anti-money laundering requirements of the Bank Secrecy Act.
-
News BriefSilvergate Bank to pay $63M to Fed, California over BSA/AML deficiencies
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
-
PremiumOCC’s Hsu encourages banks to apply guardrails to AI use
Warning of an “eventual reckoning” on artificial intelligence use by financial institutions, the acting head of the Office of the Comptroller of the Currency said the industry should learn lessons on how similar disruptive technologies evolved from being helpful to dangerous.
-
PremiumFed governor: Regs should engage with industry on safe DLT use in banking
Federal Reserve Board Governor Michelle Bowman argued banking regulators should move from their current reactive posture on banking innovation to a position that actively encourages new technologies, business models, and ideas to solve age-old problems.
-
OpinionBinance CEO got 4 months in prison. FTX’s got 25 years. Was compliance the difference?
Why the wild disparity in the sentences of Binance’s Changpeng Zhao and FTX’s Sam Bankman-Fried? Aaron Nicodemus argues the performance of the compliance teams at the two cryptocurrency exchanges was as big a contrast as the penalties earned by their respective founders.
-
Blog
Crypto insurer Meanwhile transitions CCO to senior adviser
Meanwhile, a Bitcoin life insurance company, announced Chief Risk and Compliance Officer Annie Tay will transition to senior adviser.
-
News BriefFINTRAC fines Binance $4.4M over AML/CFT violations
The Financial Transactions and Reports Analysis Centre of Canada imposed a penalty of approximately CAD$6 million (U.S. $4.4 million) against crypto platform Binance over alleged noncompliance with the country’s anti-money laundering/countering the financing of terrorism law.
-
News BriefFinCEN warns financial institutions on Iran-backed terrorist organizations
The Financial Crimes Enforcement Network advised financial institutions in detecting illicit transactions related to Iran-backed terrorist organizations.