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During the first week of 2023, payment service giant Paypal said it was exploring the launch of a stablecoin. At the time, an executive at Paypal stated that if the company moved forward, it would work closely with financial regulators. However, on Feb. 10, a source noted that Paypal has put the concept on hold … Read more
The cryptocurrency lender, Nexo, has agreed to pay $45 million to the U.S. Securities and Exchange Commission (SEC) and several state regulators after charges were levied against the firm for failing to register the company’s Earn Interest Product (EIP). Nexo detailed that the settlements are on a “no admit, no deny” basis and that the … Read more
The cryptocurrency economy is doing well during the third week of the new year, compared to the end of 2022. It is currently valued at $993.17 billion, as many digital assets have seen double-digit gains during the last two weeks. While some of the top ten cryptocurrencies, like bitcoin and ethereum, are performing well, a … Read more
The company claims that the negotiations with potential crisis managers entered the “advanced stage.” Go to Source Powered by WPeMatico
While the FTX saga continues to make headlines, last week brought a plethora of new troubles for crypto companies in the United States, Europe and Asia. Go to Source Powered by WPeMatico
The crypto lender claimed that the Cayman Islands Monetary Authority had placed “too much weight” on regulators’ enforcement actions in its decision to deny registration. Go to Source Powered by WPeMatico
A spokesperson for Bulgaria’s chief prosecutors denied claims that the investigation was prompted by the company’s political donations. Go to Source Powered by WPeMatico
Following the Jan. 12 raid on its Sofia offices, Nexo described prosecutors’ actions as a “kick first, ask questions later” approach. Go to Source Powered by WPeMatico
After the offices of crypto lender Nexo were raided in Bulgaria, the digital currency lending platform experienced a significant amount of withdrawals starting Jan. 12, 2023. An archived snapshot of Nexo’s real-time attestation shows that the company held 133,263 bitcoin on that day. As of Jan. 13, 2023, Nexo’s attestation indicates that the company now … Read more
According to several reports, Bulgarian law enforcement officials are investigating crypto lender Nexo for alleged money laundering and sanctions violations. Siika Mileva, a spokesperson for Bulgaria’s attorney general, said the probe into Nexo is a large-scale operation involving 300 investigators from various agencies, including the National Security Service, Gendarmerie, and Sofia Police. Bulgarian Law Enforcement … Read more
