Crypto firms launch coalition to promote market integrity

Crypto firms launch coalition to promote market integrity

Feb 7 (Reuters) – A group of major cryptocurrency firms including Circle, Anchorage Digital and Huobi Global are forming a new coalition aimed at cracking down on market manipulation in an effort to instill trust in the burgeoning digital asset industry.The Crypto Market Integrity Coalition, which was convened by risk-monitoring software company Solidus Labs, is … Read more

Indonesia regulator says financial firms banned from facilitating crypto sales

Indonesia regulator says financial firms banned from facilitating crypto sales

A representations of cryptocurrencies in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comRegisterJAKARTA, Jan 25 (Reuters) – Indonesia’s Financial Services Authority (OJK) on Tuesday warned that financial firms are not allowed to offer and facilitate sales of crypto assets amid a boom in crypto trading in Southeast Asia’s … Read more

Govt taps experts on taxing crypto assets held by firms, family offices

Govt taps experts on taxing crypto assets held by firms, family offices

The government has sought the views of tax experts on disclosure and taxation guidelines for companies and family offices that hold cryptocurrencies, said two people aware of the matter. Companies currently have to disclose any holdings or dealings in cryptocurrencies or crypto assets in their filings with the Registrar of Companies (RoC). One of the … Read more

3 Ways Multinational Firms Use Crypto

Investors Pour Almost $30B into Crypto Firms

PYMNTS research into cryptocurrency has found that 58% of firms that operate in six or more markets use at least one cryptocurrency. These companies’ use of cryptocurrency might just be practical, born from a desire for more convenience, as offers unique benefits for cross-border commerce. We also found that multinational firms will typically use cryptocurrency … Read more

Major South Korean Securities Firms, Investors Warming to Crypto

Major South Korean Securities Firms, Investors Warming to Crypto

Source: AdobeStock / panyaphotograph South Korean investors are “finding it hard to resist the allure of crypto,” while a number of leading domestic securities firms have suddenly started producing reports on the sector – indicating that fund managers may be casting an eye on the markets.According to Newspim, an official at a leading commercial bank who … Read more

Crackdown on crypto firms needed to ‘wreck’ ransomware, says ex-GCHQ boss

Crackdown on crypto firms needed to ‘wreck’ ransomware, says ex-GCHQ boss

Digital coin exchanges, popular with consumers for speculating on cryptocurrencies, can also serve as a means for criminals to launder Bitcoin payments into other untraceable assets. Ransomware payments increased from $400m in the whole of 2020 to $600m in the first half of this year, according to US officials. However, this is thought to be … Read more

As Crypto Firms Grow, Calls for SPDI Charters

cryptocurrency

Having been hailed as the first crypto-friendly senator, Wyoming’s Cynthia Lummis lived up to that role on Dec. 1, asking her Republican colleagues to block the renominations of Federal Reserve Chairman Jerome Powell and Fed Governor Lael Brainard, accusing the central bank of “violating the law by delaying” approval of her home state’s bank-like SPDI … Read more

Travel firms scramble to rearrange holidays amid new Covid measures | Coronavirus

Tour operators are scrambling to rearrange Swiss skiing holidays after the country joined Spain in tightening travel restrictions amid rising concerns about the spread of the new Omicron Covid variant.From Saturday night, Switzerland mandated 10 days of quarantine for all new arrivals, in effect wrecking skiing holidays in the Swiss Alps until further notice. Travel … Read more

How leading crypto investment firms are attracting the top talent from the banking world

How leading crypto investment firms are attracting the top talent from the banking world

The race to attract and retain top talent is well and truly on in the world of finance.Offering the right packages to the technologists of the world was always a tall order when trying to retain the top workers. It seems that this is proving the case for leading traders and associates now too.As with … Read more

Some firms thrived during Covid and then got their PPP Covid relief loans forgiven

Some firms thrived during Covid and then got their PPP Covid relief loans forgiven

In late June, Sharps Compliance, a Houston-based medical waste management company, reported spectacular financial results. The rollout of Covid-19 vaccines had increased demand for the company’s services, Sharps said, and its earnings had more than quadrupled. The company’s board granted Sharps’ top three executives twice the compensation they’d received a year earlier based on the performance; the trio shared almost $1 … Read more

Crypto DeFi Firms May Need More Oversight, Global Watchdog Says

Crypto DeFi Firms May Need More Oversight, Global Watchdog Says

(Bloomberg) — Crypto firms that offer stablecoins, blockchain-based decentralized finance apps and services supporting peer-to-peer transactions may be required to keep tabs on their users’ identities and funds as a way of preventing money laundering and terrorism financing, a global watchdog said.In updated guidance issued Thursday, the Financial Action Task Force — which makes anti-money-laundering … Read more

crypto: Celebs endorsing crypto firms must check claims or face action: ASCI head

crypto: Celebs endorsing crypto firms must check claims or face action: ASCI head

Celebrities must do their due diligence before endorsing cryptocurrency companies as they could be held accountable for misleading claims, Subhash Kamath, chairman of the Advertising Standards Council of India told ET. This comes amid an ad blitz by crypto companies such as CoinSwitch Kuber, CoinDCX and others during the ongoing T20 World Cup. The ads, … Read more

Crypto firms Tether, Bitfinex to pay $42.5 mln to settle U.S. CFTC charges

Crypto firms Tether, Bitfinex to pay $42.5 mln to settle U.S. CFTC charges

Oct 15 (Reuters) – Cryptocurrency Tether and crypto exchange Bitfinex will pay $42.5 million to settle civil charges from the U.S. Commodity Futures Trading Commission (CFTC) over allegedly making misleading statements and making illegal transactions.Firms doing business as Tether agreed to pay $41 million to resolve CFTC charges they made misleading claims about Tether’s cryptocurrency … Read more

Crypto firms Tether, Bitfinex to pay $42.5 million to settle U.S. CFTC charges

Crypto firms Tether, Bitfinex to pay $42.5 million to settle U.S. CFTC charges

(Reuters) -Cryptocurrency Tether and crypto exchange Bitfinex will pay $42.5 million to settle civil charges from the U.S. Commodity Futures Trading Commission (CFTC) over allegedly making misleading statements and making illegal transactions.Firms doing business as Tether agreed to pay $41 million to resolve CFTC charges they made misleading claims about Tether’s cryptocurrency stablecoin, the CFTC … Read more