Coinbase says it had no financial exposure to bankrupt crypto firms July 20, 2022 Coinbase says it had no exposure to collapsed crypto firms like Celsius, Three Arrows Capital, and Voyager. In a blog post today, the crypto exchange said it had no “financing exposure” to these crypto firms, all of which filed for bankruptcy following the recent “crypto winter” that saw cryptocurrency prices plunge and pummelled the industry. [...]
Stablecoins will be regulated in the UK with wider crypto regulation to be discussed this year July 20, 2022 Stablecoins will be regulated in the UK in a major move towards crypto asset oversight, with plans to consult on wider crypto regulation later in 2022. The UK’s Financial Services and Markets Bill was presented to Parliament today and widens the UK’s approach to crypto regulation, allowing for stablecoins to be considered as a form [...]
Withdrawal suspension raises alarm among Zipmex users July 20, 2022 Thai cryptocurrency exchange Zipmex has triggered alarm bells with investors after announcing withdrawals were being suspended.
Sham crypto apps have defrauded investors of £35.6m since October, FBI says July 20, 2022 Investors have been scammed out of about $42.7m (£35.6m) through fraudulent crypto apps since October last year, the US Federal Bureau of Investigation said. The FBI identified 244 victims and warned of cyber criminals creating fraudulent crypto investment apps that exploit legitimate cryptocurrency investments. “Cyber criminals seek to take advantage of the increased interest in [...]
Singapore will widen crypto regulation and discuss possible steps later this year July 19, 2022 Singapore is set to expand the scope of its crypto regulations and will consult on proposed measures this year following a drastic crash in the crypto industry. The Monetary Authority of Singapore said most crypto regulation both in Singapore and internationally focuses on tackling money laundering and terrorist financing risks, but this will expand. “Most regulatory regimes [...]
Celsius plans to mine more crypto to help fill £1bn balance sheet deficit July 19, 2022 Crypto lender Celsius has a $1.2bn (£1bn) hole in its balance sheet which it aims to fill by mining more crypto. The collapsed firm, which filed for Chapter 11 bankruptcy last week, owes $5.5b (£4.6bn) in liabilities and has $4.3bn (£3.6bn) in assets. Crypto assets, which have experienced a sharp crash in prices as part [...]
Schroders testing the digital asset waters with strategic investment in Forteus July 19, 2022 London-based asset manager Schroders has revealed it has taken a strategic minority stake in blockchain and digital asset specialist Forteus.
Unpaid crypto tax surged by 432 per cent from last year, HMRC says July 18, 2022 The amount of unpaid tax that rich crypto investors owed on their investments soared by 432 per cent from last year, according to HMRC. Data by law firm Pinsent Masons today said that HMRC identified £2.28m in suspected underpaid tax concerning crypto assets in 2021-2022, a substantial increase from £428,000 the previous year. Steven Porter, [...]
Binance hit with £2.8m fine by Dutch bank for not following registration requirements July 18, 2022 Binance was fined €3.3m (£2.8m) by the Dutch Central Bank for offering crypto services in the Netherlands without following registration requirements, according to an official release today. De Nederlandsche Bank (DNB) requires virtual asset service providers like Binance to register with it under the Money Laundering and Terrorist Financing (Prevention) Act. DNB had earlier issued [...]
Building an index factory with disruption, Ethereum and tokenisaton July 18, 2022 Maarten Ectors, CCO of Pollen, tells Crypto AM how delivering data and following experts can lead to wiser investing.