‘Major implications’ for gaming tokens as CyberKongz hit with SEC Wells notice
CyberKongz said it was first contacted by the SEC two years ago and had been “suffering in silence” ever since. Go to Source
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Trump eyes handing CFTC oversight of crypto: Report
Donald Trump’s team is considering handing the regulation of crypto exchanges and spot markets for cryptocurrencies deemed commodities to the CFTC. Go to Source
SEC nets record $8.2B from enforcement, mostly from Terraform Labs
Terraform Labs’ near $4.5 billion settlement with the SEC has contributed to a record year for the agency’s financial penalties. Go to Source
CFTC chair says agency is ‘handcuffed’ as crypto regulations stall: Report
CFTC Chair Rostin Behnam hopes a new Congress and president can accelerate crypto regulations. Go to Source
FTC cracks down on ‘deceptive’ AI projects, including an AI lawyer
“Operation AI Comply” is part of the US federal agency’s latest round of enforcement actions against companies it claims used AI to harm consumers. Go to Source
SEC crypto enforcement hits $4.7B this year, rising 3,000% from 2023
The SEC is having a record crypto enforcement year, bolstered by a $4.47 billion settlement with Terraform Labs and former CEO Do Kwon. Go to Source
United Texas Bank Faces Regulatory Action for AML Failures Linked to ‘Virtual Currency Customers’
United Texas Bank has been issued a cease and desist order by the U.S. Federal Reserve and the Texas Department of Banking due to significant compliance deficiencies. The bank must take immediate action to rectify issues related to its anti-money laundering (AML) program and corporate governance oversight. Cease and Desist Order for United Texas Bank … Read more
Federal Reserve Cites Significant Deficiencies in Customers Bancorp’s AML Compliance
The U.S. Federal Reserve Board has found “significant deficiencies” in Customers Bancorp, Inc.’s management of risk and adherence to anti-money laundering (AML) regulations. These issues, particularly troubling for the bank known for its crypto-friendly stance, were detailed in an enforcement action filed on Thursday. Kamala’s Crypto Reset: Still Loading… Please Wait The Federal Reserve’s action … Read more
Customers Bank to strengthen AML compliance after Fed scrutiny
The crypto-friendly bank’s activities during the 2023 banking crisis will also be examined. Go to Source
SEC Withdraws Enforcement Action Against Paxos’ BUSD Stablecoin
The Securities and Exchange Commission (SEC) has decided to end its investigation into Paxos, a New York-based issuer of stablecoins, suggesting that stablecoins may not be treated as securities in most cases. This decision comes more than a year after the SEC sent Paxos a Wells Notice concerning the BUSD stablecoin, which is backed by … Read more
