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Fintech Firms Launch New Products; Crypto Guidance Published by CFTC, EBA, UAE; OFAC Adds Public Keys to SDN List; CFTC, NY AG...

Crypto Firms Announce New Product Launches in Custody, Stablecoins, Wallets - According to a recent press release, Prometheum Capital has received the first-ever approval from the Financial Industry Regulation Authority...more

Australia and BIS Address CBDCs; OCC, PCAOB and U.S. Senators Address Crypto Risks; SEC, DOJ and USSS Continue Crypto Enforcement...

Reserve Bank of Australia and BIS Commence Efforts to Advance CBDCs - In a recent announcement, the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre (DFCRC) released details on an ongoing...more

PoS Principles Published; Crypto Market Analysis and POC Announced; Court Interprets NFTs Under Howey; SEC, CFTC and DOJ Continue...

Proof of Stake Alliance Publishes Analysis, Advocates for Industry Standards - This week the Proof of Stake Alliance (POSA), a nonprofit industry alliance focused on proof of stake (PoS) ecosystems, announced their newly...more

Paper Touts DeFi FX Benefits; New Stablecoin Launched; DAO Toolkit Published; BIS Addresses Crypto Risk; SEC, FinCEN, and DOJ...

Paper Explores Benefits of DeFi for FX; Australian Bank Launches Stablecoin - A recent industry paper found that DeFi can reduce costs and enhance transparency in foreign exchange (FX) markets. The paper concludes that...more

US Crypto Exchange Consents to $100M DFS Settlement for AML Compliance Failures

On January 4, 2023, the New York State Department of Financial Services (“DFS”) announced that Coinbase, Inc., a major U.S. cryptocurrency exchange, will pay a $50 million penalty and invest an additional $50 million in its...more

New Crypto Products Launch; US Official Addresses Crypto Regulation; State Securities Regulators Target Metaverse Casino NFTs; DOJ...

Crypto Products Launch in Debit Cards, Payment Gateways, Trading Platforms - This week, two cryptocurrency financial services and trading platforms announced partnerships with traditional financial services companies to...more

Major U.S. Crypto Exchange Consents to $29 Million Penalty for Historic BSA and OFAC Violations

​​​​​​​On October 11, 2022, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) announced a $29 million civil monetary penalty against Bittrex, a...more

Ethereum Moves to PoS; Firms Launch Crypto, NFT Initiatives; EO Crypto Energy Impact Report Published; Crypto Addressed by OFAC,...

Ethereum Network Completes Transition to Proof of Stake Consensus - After years of development and delays, Ethereum’s long-awaited “merge” occurred this week, changing the network’s consensus mechanism from proof-of-work...more

Crypto Products Launch, Gain Approvals; OFAC Sanctions Crypto Mixer; SEC Publishes ICO Consent Order; Report Cites Criminal Use of...

NY DFS Approves Crypto Platform, Prepaid Crypto Card to Launch in Argentina - According to a press release this week, the New York State Department of Financial Services (NY DFS) has authorized two subsidiaries of Zero...more

Bitcoin Mining Difficulty Decreases; Crypto Addressed by CFTC Chair; Congress Addresses Crypto Tax, Accounting; Crypto Enforcement...

Bitcoin Network Mining Difficulty Continues Downward Trend Amid Heat Wave - A recent analysis of Bitcoin mining activity has shown that Bitcoin Network mining difficulty dropped by 5 percent recently, continuing a...more

Financial and Crypto Firms Explore Integration; NFT Market Expands; FATF/Basel Publish Crypto Guidance; DOJ/CFTC Bring Crypto...

Financial Firm Launches Crypto Group, MakerDAO Votes to Integrate with Bank - A major multinational financial institution recently “announced the formation of its Digital Assets and Financial Markets group.” According to...more

Executive Order Addresses Digital Assets; Banks and Restaurants Launch Crypto Initiatives; FinCEN Issues Alert; SEC, CFTC and DOJ...

This week, President Joe Biden signed “Executive Order on Ensuring Responsible Development of Digital Assets” (EO). According to a fact sheet published with the EO, the EO calls for measures to accomplish the following...more

Financial Firms Continue Expanding into Cryptocurrency Markets; Crypto Donations Reach Ukraine; DOJ Crypto Enforcement Continues;...

Traditional Financial Firms Expand Reach into Cryptocurrency Sphere - Early this week, a major investment bank announced that it plans to launch a digital asset custody platform later this year. This announcement follows...more

New Stablecoin and CBDC Developments, Blockchain Enterprise Initiatives Announced, Crypto Financial Services Firm Targeted by...

US Stablecoin Issuers Publish New Details on US Dollar Reserves - This week, Circle, the issuer of USDC – a cryptocurrency “stablecoin” with each unit backed 1:1 by U.S. dollars – published its latest reserve attestation...more

USDC Expands to New Blockchains, NFT Sales Continue, FATF Publishes Review of Crypto Standards, US and Global Crypto Enforcement...

USDC Expands to 10 New Blockchains, Crypto Payment Initiatives Launch - The Centre Consortium recently announced that USDC, a stablecoin that is backed 1:1 by U.S. dollars, will soon be added to 10 additional blockchain...more

Crypto Investment and Payment Products Launch, BiTA Platform Announced, SEC and OFAC Take Crypto Enforcement Actions, FCA Extends...

Crypto Investment and Payments Products Launch, Payment Data Published - Last week Securitize announced the launch of Securitize Capital, which will serve as an investment manager of digital asset funds for institutional and...more

Cryptocurrency and Blockchain Initiatives Continue in Payments, NFTs and Media; Crypto Enforcement and Threats Also Continue...

Crypto Adoption Continues in Credit Cards, OCC Approval, Restaurant Paymentsc - According to recent reports, a major U.S. financial services firm and Gemini, one of the largest U.S. cryptocurrency exchanges, will soon launch...more

Financial Firms Launch New Crypto Products, NFTs Trending, Crypto Exchange Acquires Broker-Dealer, SEC, DOJ, IRS and CFTC Actions...

US Institutional Financial Firms, and Fintech Startups, Launch Crypto Products - A major U.S. financial services corporation announced this week that it would begin to settle transactions over the Ethereum Network in USD Coin...more

US Firms Launch Bitcoin Products, Seek Approvals; Federal and State Agencies Take Enforcement Actions Against Cryptocurrency...

US Firms Launch Bitcoin Products, Seek Approvals, Advocate for Crypto Rules - According to reports, in an internal memorandum issued earlier this week, a major U.S. investment bank informed its financial advisers that it is...more

Crypto Payment Options Announced, Federal Reserve Official Addresses Bitcoin, US and Foreign Actions Target Crypto Crimes, DeFi...

Crypto Payment Options Announced, Federal Reserve Official Addresses Bitcoin - Late last week, BitPay, a leading provider of cryptocurrency payment services, announced that U.S. users of its prepaid debit card, which allows...more

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