Regulation

Robinhood Crypto Fined $30 Million by New York Regulator for ‘Significant Failures’ in Multiple Areas

Coins Legend August 3, 2022 0

The New York State Department of Financial Services (DFS) has fined Robinhood Crypto $30 million for “significant failures in the areas of bank secrecy act/anti-money laundering (‘BSA/AML’) obligations and cybersecurity.” Robinhood Crypto Settles With the DFS The New York State Department of

Regulation

New York Attorney General Wants to Hear From Investors Deceived by Crypto Platforms

Coins Legend August 3, 2022 0

New York Attorney General Letitia James has urged investors in her state who believe they have been deceived by a crypto platform to contact her office. “Investors were promised large returns on cryptocurrencies, but instead lost their hard-earned money,” she stressed. Letitia James Issues Investor Alert on Cryptocurrency New York Attorney General Letitia James issued […]

Regulation

Binance US Delists Crypto Token ‘out of an Abundance of Caution’ After SEC Says It’s a Security

Coins Legend August 2, 2022 0

Binance’s U.S. platform is delisting crypto token amp after the Securities and Exchange Commission (SEC) declared it a security. Another crypto exchange, Coinbase, disagreed with the regulator, arguing that the token is not a security. Binance Delists AMP ‘out of an Abundance of Caution’ Binance’s U.S. exchange (Binance US) is taking action to ensure that […]

Regulation

Central Bank of Honduras Warns About the Dangers of Using Cryptocurrency

Coins Legend August 1, 2022 0

The Central Bank of Honduras has published a release that seeks to clarify the stance the institution takes about the use of cryptocurrencies in the country. The organization states that even with the popularity such instruments have attained in other countries, cryptocurrencies have no backing of any sort, and are also affected by high levels […]

Regulation

Kenyan Central Bank Orders Financial Institutions to Stop Dealing With Two Nigerian Fintechs

Coins Legend August 1, 2022 0

In a letter addressed to the CEOs of financial institutions, the Central Bank of Kenya (CBK) has said financial institutions operating in the country must cease and desist from dealing with two Nigerian fintechs, Flutterwave and Chipper Cash. The letter reiterates the CBK governor Patrick Njoroge and the Asset Recovery Agency (ARA)’s assertions that the […]

Regulation

Central Bank of Uruguay Summons to Binance Due to Its Savings Focused Cryptocurrency Products

Coins Legend August 1, 2022 0

The Central Bank of Uruguay has issued a summon to Binance, one of the biggest exchanges in the world, due to the series of crypto-based savings products they are offering in the country. These savings products, according to the bank, can only be made through verified banking institutions or by companies that issue equity in […]

Regulation

US, UK Regulators Partner on Broader Crypto Regulation

Coins Legend August 1, 2022 0

Regulators in the U.S. and U.K. have met to discuss broader crypto regulatory initiatives. They reaffirmed their commitment to “continued cooperation to support safe financial innovation, as well as to strengthen regulatory outcomes for stablecoins across jurisdictions.” US and UK Regulators Collaborate on Crypto Regulation The U.S. Department of the Treasury published a

Regulation

China Bank Account Freeze Controversy: Authorities Reveal Latest Reimbursement Plan, Three Officials Now Under Investigation

Coins Legend July 31, 2022 0

In a move seen as an attempt to pacify protesting bank clients, Chinese authorities in Henan province announced their latest repayment plan which sees customers with deposits ranging between $14,827 and $22,240 qualify for reimbursement. In addition, authorities said two unnamed officials from the province are being investigated for allegedly violating the law.

Regulation

Philippine Central Bank Governor Explains Crypto Policy — ‘I Don’t Want It Banned’

Coins Legend July 26, 2022 0

The governor of the central bank of the Philippines has shared his policy on cryptocurrency regulation. “I don’t want it banned,” he said, advising investors not to invest money they cannot afford to lose in crypto. Philippine Central Bank Governor on Crypto Regulation Felipe Medalla, the governor of the Bangko Sentral ng Pilipinas (BSP), the […]

Regulation

US State Regulator Warns About Crypto Interest-Bearing Accounts Amid Market Downturn

Coins Legend July 25, 2022 0

The financial regulator of the U.S. state of Arizona has warned investors about crypto interest-bearing accounts. “Some companies may materially overstate the degree to which their collateral practices protect their ability to pay investors the stated return,” the regulator said. State Regulator Warns About Crypto Interest-Bearing Accounts The Arizona Corporation