New York’s Met Museum Agrees to Return $550K in FTX Donations
The Metropolitan Museum of Art in New York City has decided to refund $550,000 in donations it received from the now-bankrupt crypto exchange, FTX. The museum made this decision known in a document submitted on June 2 to the US Bankruptcy Court in Delaware, where FTX initiated its bankruptcy proceedings. The museum’s choice to return […]
CoinEx faces lawsuit in New York for failure to register with state
The New York Attorney general Letitia James has filed a lawsuit against cryptocurrency exchange CoinEx stating that the company failed to register as a securities and commodities broker-dealer in the state. Letitia James, the attorney general of New York, has filed a lawsuit against cryptocurrency exchange CoinEx on the grounds that the company misrepresented itself […]
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 […]
Nexo Announces Gradual Departure from the United States
Nexo says it will no longer accept new registrations, and operations for existing customers will eventually be die down. According to a blog post published on Dec. 5, the cryptocurrency lending and borrowing platform Nexo intends to gradually end operations in the United States “over the coming months.” The decision to leave the United States […]
New York proposes to charge crypto companies for regulating them
The New York State Department of Financial Services (DFS) has submitted a proposed change that would allow it charge licensed crypto companies. The proposal is led by DFS Superintendent Adrienne Harris, who is looking for public feedback on the move as the regulator looks to gain further oversight controls. While it might sound like a […]