New York releases new guidelines for crypto custodial structure
New York Department of Financial Services (DFS) issued regulatory recommendations on January 23, 2023, to better safeguard consumers in the case of virtual currency insolvency. Although not mandatory, the advice nonetheless has persuasive power. The guidelines are applicable to organizations that New York DFS has granted a license or chartered to manage virtual currency assets […]
Binance processes $346M in bitcoin transactions for Bitzlato
According to a Chainlysis analysis, Binance processed 205,000 transactions for Bitzlato between May 2018 and January 2023. On-chain security firm Chainlysis stated on Tuesday that Binance enabled over $345.8 million in Bitcoin trade volume for the crypto exchange Bitzlato. The US Department of Justice charged Bitzlato with money laundering, and its founder, Anatoly Legkodymov, was […]
Wormhole bridge exploiter transfers $155M in ETH
Earlier this week, an explosion of on-chain activity was observed at the address associated with the 320 million-dollar Wormhole exploit. The hacker of Wormhole, one of the largest cross-chain bridges between Solana and other blockchains has transferred stolen cash totalling $155 million in ETH to a decentralized exchange for the first time in months. CertiK’s […]
Grayscale-SEC lawsuit now schedules for March 7
Following the bankruptcy issue of Genesis Global, a district of Columbia Court of Appeals has set the date for Grayscale’s legal action against the Securities and Exchange Commission (SEC) to March 7 2023 as opposed to the initial date in April. The District of Columbia Court of Appeals has scheduled March 7 to hear oral […]
UK authorities disagree over sale of crypto investment products ban
Authorities in the United Kingdom are disagreeing on whether it is appropriate to ban the sale, marketing, and distribution of derivatives and exchange-traded notes (ETNs) linked to cryptocurrencies. The ban was implemented in January 2021 by the Financial Conduct Authority (FCA), the top British regulator. Since that time, businesses are no longer permitted to provide […]