The Securities and Exchange Commission (SEC) charged NovaTech Ltd, its operators, Cynthia and Eddy Petion, and the company’s top promoters with running a fraudulent scheme centered on crypto assets. The defendants are charged with running a multi-level marketing company that claimed it would invest victims’ funds in crypto assets but did so with only a fraction of
Despite the decentralized nature of cryptocurrencies and other digital assets, Web3 businesses need banking partners. But on Thursday (Aug. 8), news broke that Pennsylvania-based Customers Bank, one of the only crypto-friendly banks in the U.S., was served with a 13-page regulatory enforcement action by the Federal Reserve related to its digital asset and dollar token
(Bloomberg) — Cryptocurrencies reeled from a bout of risk aversion in global markets on Monday, at one point sending Bitcoin down more than 16% and saddling second-ranked Ether with the steepest fall since the collapse of FTX in 2022. Most Read from Bloomberg Top token Bitcoin traded 9% lower at $53,883 as of 4:51 p.m.
Bitcoin, the world’s largest cryptocurrency token, briefly tumbled below US$50,000 on Monday during one of the worst global markets sell-off in years, hitting crypto investors amid Hong Kong’s efforts to boost its virtual assets sector. Bitcoin at one point on Monday saw its value shed 15 per cent, with its price briefly dipping below US$50,000
The IRS has released final regulations on reporting requirements focused on sales, exchanges, transfers, and payment processing involving digital assets. Getty Earlier this summer, the U.S. Department of the Treasury and the IRS released final regulations on reporting requirements for sales, exchanges, transfers, and payment processing involving digital assets. Supplemental transitional relief and guidance were
Circle has attained an Electronic Money Institution (EMI) license from the French banking authority, thereby achieving compliance with the European Union’s (EU) Markets in Crypto-Assets (MiCA) regulatory framework. With this license from the Autorité de Contrôle Prudentiel et de Résolution (ACPR), Circle’s French entity is now issuing USDC and EURC stablecoins in compliance with MiCA’s regulatory obligations for stablecoins or eMoney
Digital asset funds have seen outflows for three consecutive weeks, although the outflow slowed during the most recent week. After experiencing outflows of $600 million in each of two consecutive weeks, these funds saw an outflow of $30 million during the week that ended June 29, Bloomberg reported Monday (July 1), citing data from CoinShares
(Bloomberg) — Bitcoin’s performance is starting to be overshadowed by the Ether and Solana tokens as hype around US cryptocurrency exchange-traded funds shifts to the two smaller digital assets. Most Read from Bloomberg Solana surged the most in over a month on Thursday after fund manager VanEck filed an application to start an ETF for
In the years since the industry’s founding, cryptocurrency startups have pulled in around $100 billion. That’s according to a report Saturday (June 15) by Bloomberg News, citing data from two sources: DeFiLlama which pegs the crypto sector’s total fundraising at $101 billion since 2014, and The Block Research, which has logged $95 billion in investment
Walter Benjamin Does Crypto Man Group A Case for Crypto (via Walter Benjamin) I had a brief insight into what those on the frontline of the crypto live through every day when I made what I felt was a fairly uncontroversial post on LinkedIn about the speed (or lack of it) with which cryptocurrencies had