HKMA Urges Banks to Offer Services to Crypto Firms
The Hong Kong Monetary Authority (HKMA), the city’s central bank and regulator, has requested that banks offer their services to cryptocurrency firms. The Hong Kong Monetary Authority issued a circular on corporate customers’ access to financial services on April 27. In the document, the regulator has mandated that authorized institutions, or AI, employ a risk-based […]
Crypto firms deny exposure to failed US banks
Some significant cryptocurrency firms have denied exposure to defunct U.S. banks including Silicon Valley Bank (SVB) amid the ongoing banking crisis in the country. As the potential effects of the SVB crisis on the cryptocurrency market continue to develop, a number of significant crypto companies have so far declared themselves to be untouched. Tether As […]
SEC plans to pursue crypto firms acting as “qualified custodians”
The Securities and Exchange Commission (SEC) of the United States is allegedly set to propose new regulatory changes this week that may affect what services crypto businesses can offer their clients. According to a Feb. 14 Bloomberg story citing “people familiar with the matter,” the securities regulator is working on a draft proposal that would […]
Goldman Sachs reportedly considers buying crypto firms
Following the FTX collapse, an executive of banking giant Goldman Sachs said that their firm is already doing its due diligence on some crypto firms and is looking to purchase or invest in them while the prices are low. The recent FTX fiasco has a negative impact on the value of crypto companies, thus financial […]
SEC’s commissioner, Hester Peirce opposes crypto bailouts, SBF to assist crypto firms
SEC’s commissioner opposed crypto bailouts, especially for those who failed to manage risk. SBF offers assistance to suffering crypto firms. Hester Peirce, a commissioner for the Securities and Exchange Commission (SEC), has spoken out against bailing out cryptocurrency companies, contending it’s actually preferable to “let these things play out” in order to develop a more […]