Binance Australia sued over alleged consumer protection breaches
The Australian financial services regulator has sued Binance Australia Derivatives for allegedly misclassifying over 500 retail clients, denying key legal protections.This post was originally published on this site
EU regulator sets restrictive measure guidelines for crypto providers
Crypto-asset service providers that carry out transfers must choose a screening system that allows them to comply with the EU’s restrictive measures regimes.This post was originally published on this site
FCA Files First Charges Against Unregistered Crypto ATM Operator in UK
The UK’s Financial Conduct Authority (FCA) has charged Olumide Osunkoya for operating unregistered crypto ATMs in the country. This case is significant as it represents the first prosecution under UK law for such activities. Osunkoya is accused of running a network of crypto ATMs that processed £2.6 million in transactions without registration, violating anti-money laundering […]
FCA Files First Charges Against Unregistered Crypto ATM Operator in UK
The UK’s Financial Conduct Authority (FCA) has charged Olumide Osunkoya for operating unregistered crypto ATMs in the country. This case is significant as it represents the first prosecution under UK law for such activities. Osunkoya is accused of running a network of crypto ATMs that processed £2.6 million in transactions without registration, violating anti-money laundering […]
Australian regulator claims win over Kraken’s Bit Trade in federal court
A court has found Bit Trade offered a product without following design and distribution obligations and acted as a credit facility, in violation of Australian laws. This post was originally published on this site
UK Law Commission sees no need for DAO-specific legal entity
The UK Law Commission scoping paper suggested legal reforms for DAOs, a review of the Companies Act and international cooperation on AML and tax frameworks.This post was originally published on this site
Biden Administration’s Economic Report Deems Crypto Assets ‘Mostly Speculative Investment Vehicles’
On Monday, U.S. president Joe Biden published the administration’s economic report and addressed the subject of cryptocurrencies. The section titled “The Perceived Appeal of Crypto Assets” describes the currencies as “mostly speculative investment vehicles” that are “unbacked” and “traded without fundamental anchors.” The White House insists that crypto assets do not deliver on their promises […]