Fed Issues Cease and Desist to Texas Bank Over Crypto Firm Services
The US Federal Reserve claimed it discovered “significant deficiencies” in the bank’s dealings with crypto clients and risk management systems. The United States Federal Reserve has issued a cease and desist order to United Texas Bank, known for its crypto-friendly approach, due to “significant deficiencies” in its risk management and dealings with cryptocurrency clients. In […]
Robinhood Pays $3.9M Settlement Claim to Justice Department
Robinhood Markets’ crypto division has reached a $3.9 million settlement with the California Justice Department in response to allegations that it discontinued crypto withdrawals between 2018 and 2022. According to California Attorney General Rob Bonta, the California Department of Justice’s initial public action against a crypto company occurred on September 4. Bonta had claimed that […]
Ripple SEC Case: Judge Torres Halts $125M Penalty Pending Appeal
Judge Torres approved Ripple’s request to hold a $125 million penalty as the SEC considers appealing rulings in the ongoing case. Ripple’s proposed order to retain a $125 million penalty has been authorized by New York District Court Judge Torres, even as the US Securities and Exchange Commission (SEC) considers an appeal. As the SEC […]
Vivek Ramaswamy: Crypto Regulation is ‘Anti-American’
Former 2024 Republican presidential candidate Vivek Ramaswamy criticized the current “regulation by enforcement” approach to crypto, calling it unclear and “anti-American at its core.” Vivek Ramaswamy, a former Republican presidential candidate in the United States in 2024, has emphasized the necessity of transparent crypto regulations. He criticized the current crypto regulatory approach, describing it as […]
Polygon AggLayer to Connect All Web3, Including Blockchains
The Polygon AggLayer aims to unify the complete Web3 space, encompassing all siloed blockchain networks, according to Polygon Labs’ CEO. The AggLayer, which is short for aggregation layer, is a cross-chain interoperability protocol that Polygon intends to implement to establish connections between blockchain networks. Marc Boiron, the CEO of Polygon Labs, has stated that the […]