Abra, CEO Barhydt settle with 25 US states over licensing violations
Other states can join in the settlement, which will see up to $82.1 million returned to customers. Go to Source
Money Transmitter
Auto Added by WPeMatico
Binance charges prove ‘following the rules’ was the right decision: Coinbase CEO
Brian Armstrong reflected on the announcement of criminal charges against Binance, stating that Coinbase’s decision to get licenses was correct. Go to Source
Tornado Cash indictment fails to show ‘clear violation’ of certain laws: Coin Center
Coin Center research director Peter Van Valkenburgh argued that crypto mixer Tornado Cash is an anonymizing software provider, not a money transmitter. Go to Source
Law Firm Subpoenas FTX Co-Founder, Top Executives, and Former Alameda CEO Over Voyager Digital Deal
On Feb. 6, 2023, law firm Kirkland & Ellis issued a subpoena to FTX co-founder Sam Bankman-Fried and top executives on behalf of Voyager Digital. The subpoena requested they produce documents and communications related to the “Alameda Loan Agreement” between Alameda Ventures and Voyager, as well as other important documents. Additionally, Voyager Digital has subpoenaed … Read more
US Develops Cryptocurrency Intelligence Program Targeting P2P Sites, Forums, Darknet Markets
The U.S. Department of Homeland Security has revealed a cryptocurrency intelligence program aimed at identifying unlicensed crypto businesses using P2P sites, online forums, and darknet markets. These areas have consistently presented “a significant challenge to law enforcement” and the Financial Crimes Enforcement Network (FinCEN). Also read: Regulatory Roundup — Trump’s Cryptocurrency Proposals, IRS Changes Rule, … Read more
‘Bitcointopia’ Founder Admits Selling Government-Owned Land to Bitcoiners
The founder of a scheme called Bitcointopia to sell land in the U.S. state of Nevada to bitcoiners has admitted in a federal court that some land was not his to sell. Previously arrested for selling BTC to an undercover agent through Localbitcoins, he also pleaded guilty to running an unlicensed money transmitting business. Also … Read more
Money Transmitter License Not Required for Crypto Businesses in Pennsylvania
On Wednesday, Jan. 23, the Pennsylvania Department of Banking and Securities (DoBS) published guidance for virtual currency businesses operating in the state. The state’s financial agency has decided a money transmission license for cryptocurrency operations is not required. Also Read: Former Mt Gox CEO Reflects on Incarceration in Japan While Facing More Prison Time Banking Department … Read more
Financial Services Provider Square Acquires New York Bitlicense
The company Square announced on Monday the firm has been granted the Bitlicense from the New York Department of Financial Services (DFS). The firm and its ‘Cash App’ are now legally allowed to operate and utilize cryptocurrency solutions in the state of New York. Also Read: Cryptocurrency Brokerage Service Genesis Global Granted Bitlicense Square Has Obtained … Read more
FinCEN Labels ICOs and ICO Token Trading Platforms as Money Transmitters
It seems a very important piece of news has flown under the radar of cryptocurrency enthusiasts and experts. In a letter from February, FinCEN makes it clear they do not take kindly to ICOs or any platforms supporting this business model. In fact, they would prefer if all ICOs registered as money services businesses. It’s an … Read more
