SEC Fines Prager Metis $1.95M Over Negligent FTX Audits

September 18, 2024 Bitcoin.com

SEC Fines Prager Metis .95M Over Negligent FTX Audits

The U.S. Securities and Exchange Commission (SEC) has reached a $1.95 million settlement with Prager Metis CPAs LLC and its affiliate over serious allegations related to their audits of crypto exchange FTX. The case highlights critical oversights and violations of key industry standards, raising questions about the firm’s practices and the risks it missed. “Prager’s […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Binance Kazakhstan Receives Formal Consent for Regulatory License

September 7, 2024 Bitcoin.com

AIFC

Binance Kazakhstan received formal consent from the Astana Financial Services Authority (AFSA) for a full regulatory license, marking a major step toward becoming Kazakhstan’s first fully regulated Digital Asset Trading Facility (DATF). The approval followed rigorous evaluations, including financial audits and ISO certifications. Once licensed, Binance will manage virtual assets, offer custody services, and conduct […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

India’s FIU Considers Approving More Offshore Crypto Exchanges

September 6, 2024 Bitcoin.com

AML

India’s Financial Intelligence Unit is reportedly reviewing four offshore cryptocurrency exchanges for potential approval to resume operations following the lifting of bans on Binance and Kucoin. The focus is on ensuring compliance with anti-money laundering regulations, including transaction transparency and reporting of suspicious activity. FIU-India May Permit More Offshore Crypto Exchanges Next Year India’s Financial […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

UN Raises Human Rights Concerns in Telegram Founder Pavel Durov’s Case

September 3, 2024 Bitcoin.com

Arrest

The United Nations has expressed serious concerns about the arrest and charges against Pavel Durov, founder of Telegram, citing potential human rights issues. A U.N. spokeswoman called for adherence to international human rights standards, emphasizing the need for legality and proportionality in regulating social media platforms. United Nations Raises Human Rights Concerns Over Arrest of […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Kraken Crypto Exchange Operator Fined by Australian Court

August 24, 2024 Bitcoin.com

ASIC

The Federal Court of Australia has ruled that Bit Trade Pty Ltd., operating crypto exchange Kraken in Australia, failed to meet regulatory obligations for its margin trading product. The product was offered without a required market determination, breaching the Corporations Act. ASIC emphasized the need for compliance in the crypto industry, aiming to ensure consumer […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Binance Unveils Plan to Hire 1,000 Employees This Year, Prioritizing Compliance Amid Regulatory Pressure

August 24, 2024 Bitcoin.com

Binance

Crypto exchange Binance plans to hire 1,000 new employees this year, primarily for compliance roles, as regulatory spending exceeds $200 million. CEO Richard Teng highlighted the company’s commitment to bolstering its compliance operations amid increased regulatory scrutiny and ongoing legal challenges. Binance to Expand Workforce With 1,000 New Hires Amid Regulatory Scrutiny Binance CEO Richard […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Moody’s, Elliptic join forces for enhanced VASP risk screening

August 19, 2024 Coin Telegraph

AML

The companies will combine their strengths to provide enhanced virtual asset service providers screening ability.

The Moody’s financial research and ratings firm has teamed up with blockchain analytics and compliance specialists Elliptic to provide more insightful screening of virtual asset service providers (VASPs). According to the companies, the collaboration will leverage offchain and onchain data in a single interface.

The new service will take input such as digital asset transaction histories, financial records and regulatory databases to create a “comprehensive overview” of VASPs.

Elliptic has profiles of over 1,000 VASPs and uses real-time onchain data and proprietary technology to screen digital asset transactions for exposure to illicit activities. Moody’s offchain data includes over 21 million risk profiles, 489 million entities and 51,000 sanctioned entities, it claims. It uses the data to produce Anti-Money Laundering (AML) and Know Your Customer solutions for its clients.

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Binance Goes Live in India: Full Access for Indian Users

August 17, 2024 Bitcoin.com

AML

Binance has registered as a reporting entity with India’s Financial Intelligence Unit. Binance CEO Richard Teng emphasized the importance of the Indian market and the crypto exchange’s dedication to providing secure and efficient services. With this registration, Indian users now have full access to Binance’s platform. Binance Now Fully Available for Indian Users Crypto exchange […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

47 Companies Apply to Operate in Turkey Under New Crypto Regulations

August 12, 2024 Bitcoin.com

Binance Turkey

Turkey’s Capital Markets Board has issued an update on crypto asset service providers following new regulations. The provisional lists include 47 operational companies and three that are planning to liquidate. Current crypto service roviders are required to apply for permits or proceed with liquidation by specified deadlines, with legal repercussions for noncompliance. Turkey’s Capital Markets […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

IRS Unveils Overhauled Crypto Tax Form With No Address Disclosure Requirements

August 10, 2024 Bitcoin.com

bitcoin.com

The U.S. Internal Revenue Service (IRS) has unveiled an updated Form 1099-DA for reporting digital asset transactions, introducing key changes that may address past criticism and privacy issues. This new version, reportedly set to be partially implemented in 2025, removes several contentious elements from earlier drafts. IRS Revamps Crypto Reporting Form On Aug. 8, 2024, […]

Compliance

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