Ripple struck a deal to acquire Standard Custody & Trust Co., the company said Tuesday, in order to secure a New York trust charter in an ongoing expansion of its U.S. regulatory licensing.
New York’s Crypto BitLicense Oversight Criticized by State’s Comptroller
The New York Department of Financial Services (DFS) is drawing some internal heat over whether it’s doing a good job overseeing crypto activity through its BitLicense program, according to a review from New York State Comptroller Thomas DiNapoli.
New York Regulator Seeks Tougher Norms for Adding, De-Listing Crypto Coins
Licensees in the state will have to set out technology, market and regulatory risks for listed cryptocurrencies under the state’s BitLicense regime
Coin Cafe to repay $4.3M in fees that ‘wiped out’ investors’ Bitcoin accounts
The platform was charging investors ‘exorbitant and undisclosed fees’ with one user being charged recurring fees of $51,000 over a span of 13 months, according to the statement.
NYDFS Chief Dismisses ‘Choke Point 2.0’ Theory of Signature’s Closure as ‘Ludicrous’
Signature Bank’s takeover last month was not a part of any so-called “Operation Choke Point 2.0,” according to Adrienne Harris, superintendent of the New York Department of Financial Services (NYDFS), who called the idea “ludicrous.”
Binance mints 50M TrueUSD days after Paxos ordered stop issuing BUSD
Despite the minting of $50 million in TUSD, Zhao previously said the regulatory crackdown on stablecoins in the U.S. will cause the USD-back stablecoin market to “shrink.”
Stablecoin Issuer Paxos Burns $700M Binance USD in 27 Hours Amid Regulatory Pressure
The BUSD supply has decreased by more than 6% since Paxos announced on Monday that it would halt issuance due to regulatory pressure.
Stablecoin issuer Paxos reportedly probed by New York regulators
While the exact reason for the investigation hasn’t been revealed, it has been reported that the New York regulator plans on upping its efforts to protect consumers this year.
‘This is on me’ — Robinhood CEO to lay off 23% of staff after Q2 loss
The online retail broker blamed the economy for a decline in user numbers and net revenue that fell 44% year-on-year, although revenue from crypto rose moderately this quarter.
Fidelity Digital Assets Gets NY Trust Charter to Custody Bitcoin for Institutions
The New York Department of Financial Services has granted Fidelity Digital Assets Services (FDAS) a charter to operate as a limited liability trust company to custody digital currencies and execute crypto trading.
Crypto Exchanges Should Take a Hard Look at IP Address-Masking Services
Cryptocurrency exchanges will likely have to reckon with VPN access as part of any regulatory or law enforcement actions for market manipulation.
Crypto Isn’t Just Money – It’s a Defense Against Discrimination
Financial discrimination shows just how precarious Americans’ rights are in practice. Cryptocurrency is the solution — if an imperfect one at present.
NY Regulator Argues BitLicense Regulation Boosted Businesses
Maria Vullo highlighted the state’s early involvement in cryptocurrency. But many think New York’s BitLicense desperately needs an overhaul.