A United Arab Emirates-based financial services firm called CLS Global recently agreed to resolve criminal charges involving fraudulent market manipulation and wash trading in the crypto industry. Uniswap is accused of generating fake trading volume through automated self-dealing, tricking investors, and pumping the perceived crypto market activity. Company Pays Penalties and Faces Exclusion from US […]
crypto firms
Stringent Licensing Of Cryptocurrency Firms Immediate Necessity :French Central Bank Governor
The governor of the Bank of France, Francois Villeroy de Galhau, has called for stricter licensing rules for cryptocurrency businesses in France, noting the present unrest in the cryptocurrency markets. The central bank governor said France shouldn’t wait for impending EU cryptocurrency rules to establish mandatory licensing for regional Digital Asset Service Providers during a […]
Overseas Crypto Firms Require Singapore’s Stamp Of Approval
Singapore’s ambition to be the global hub of crypto received a major boost when the nation’s parliament gave its consent to a law that aimed to bring foreign digital asset firms operating in the city-state under its ambit. According to sources, the new legislation will require overseas virtual asset service providers [VASPs] in the region to […]
FCA grants approval to a crypto firm under AML-CTF norms; Others continue to wait
UK’s Financial Conduct Authority’s or FCA has accepted registration requests by digital asset market maker Wintermute under anti-money laundering and counter-terrorist financing or AML-CTF regime for crypto firms. According to the Wintermute website, the platform’s cumulative trading volume stood at $1.72 trillion since January 2020. In addition to that, data from the firm’s site revealed that […]
Crypto Firms Have 30 Days to Submit Coronavirus Contingency Plan
The New York Department of Financial Services (NYDFS) has requested all state-sanctioned cryptocurrency-firms to submit a detailed plan on how to combat the coronavirus menace. In a letter dated 10 March, NYDFS sets out a comprehensive list of items that it expects entities in the cryptocurrency sector to cover in their’ preparedness plan;’ involving potential […]