cryptoregulation
Former Binance CEO Changpeng “CZ” Zhao has been sentenced to four months in prison for money laundering violations. The sentencing comes after Zhao pleaded guilty last November to failing to establish a proper anti-money laundering program at Binance, the largest cryptocurrency exchange by trading volume. Zhao’s downfall and legal battle with DOJChangpeng Zhao, who founded Binance in 2017, led the company to become a dominant force in the crypto industry. However, his tenure was marred by controversy as U.S. Justice Department officials accused him of prioritizing growth over compliance with U...
Invezz
Is this the turning point that will determine the industry’s trajectory decades from now, or could the move open the jurisdiction to even greater competition from its regional rivals? Ultimately, is Hong Kong the leader Asia’s crypto space needs, especially at this critical juncture of the ecosystem’s growth? Hong Kong’s New Regulatory EnvironmentThe recent update to the regulatory framework in Hong Kong is a noteworthy development amidst an array of competing and even diametric approaches around the world. As a trading firm with global operations, we have observed an uptick in interest in the...
ValueWalk
At the G20 finance ministers’ meetings in India, IMF Managing Director Kristalina Georgieva stated that the United Nations financial agency would prefer to differentiate and regulate crypto assets rather than enforce an outright ban. Q4 2022 hedge fund letters, conferences and more Classifying Digital MoneyQ. Georgieva has stated that there “is still confusion around how to classify digital money”. What potential solutions could help solve this? “Digital money is emerging as a new fundamental force in the financial system, offering the potential for greater efficiency, innovation and financial...
ValueWalk
Bank of England officials have renewed their warnings about cryptocurrencies. BoE Deputy Governor Jon Cunliffe compared them to unsafe airplanes. He added that although technology can impact the way the risks associated with finance are managed and distributed, it can’t eliminate them completely. The bitcoin price is now down by more than 70% from the record high it reached in November, and it remains firmly below $20,000 on Wednesday. According to data from CoinDesk, the cryptocurrency hasn’t been priced this low since December 2020. BoE Calls For Regulation On CryptocurrenciesAccording to CN...
ValueWalk
The Financial Conduct Authority has published the speech made by Charles Randell, Chair of the FCA on the risks of crypto regulation. Q2 2021 hedge fund letters, conferences and more FCA Warns About Crypto Asset Promotion On Social Media"It's unusual to hear the chair of Britain’s financial watchdog dedicate a big chunk of his speech to superstar realty TV queen Kim Kardashian – but it shows just how concerned the FCA is about the level of financial promotion of crypto assets on social media. The watchdog is clearly horrified at the lack of controls implemented by major social media platforms ...
ValueWalk
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