Digitex Futures CEO Faces Charges for Violating Bank Secrecy Act
Federal authorities in the United States have filed charges against Adam Todd, the founder and chief executive officer of Digitex Futures Exchange, on suspicion of violating the Bank Secrecy Act through his failure to establish and execute an Anti-Money Laundering (AML) program. Critical to the struggle against financial crimes is the Bank Secrecy Act (BSA). […]
Crypto Exchange Bitsonic CEO, Exec Reportedly Face Jail Term
Reportedly, for plundering 10 billion South Korean won ($7.5 million) worth of customer deposits, the CEO of cryptocurrency exchange Bitsonic has received a seven-year prison sentence, the firm’s CTO also received a one-year sentence. The Korean District Court imposed a seven-year prison sentence on Jinwook Shin, according to a February 6 report by the Yonhap […]
Zipmex to Suspend Services Temporarily in Thailand
Thailand’s Securities and Exchange Commission (SEC) has issued a temporary suspension order for digital asset trading and brokerage services on the cryptocurrency exchange Zipmex. The SEC stated in a supplemental filing on February 2 that Zipmex had fifteen days to rectify “its financial position and operational deficiencies,” as the financial regulator had previously mandated. The […]
Coinbase Appoints Former UK Chancellor to Advisory Board
In an effort to resolve disputes with the SEC, Coinbase will welcome former British Chancellor George Osborne onto its board of advisors. Coinbase announced on Wednesday that former British Chancellor George Osborne will join the organization’s board of advisors. Bloomberg reports that Coinbase’s action coincides with the cryptocurrency exchange being confronted with litigation and the […]
Upbit Exchange Receives MPI License in Singapore
Upbit, one of the largest cryptocurrency exchanges in South Korea, has obtained a Major Payment Institution (MPI) license for its local branch, Upbit Singapore, from the Monetary Authority of Singapore (MAS). Upbit Singapore has prepared to broaden its portfolio of services within the nation after obtaining the MPI license. The exchange becomes one of fifteen […]