The recent crypto market turmoil has been headlined by a series of cascading events, including the collapse of Terra UST and the failure of famed hedge fund, Three Arrows Capital (3AC). Most notable and perhaps most impactful is the rash of distressed centralized crypto lending platforms, which have disproportionately caused… ...閱讀更多
In July 2022, the US Securities and Exchange Commission (SEC) announced insider trading charges against a former Coinbase employee and his two associates. The three defendants allegedly front-ran public listing announcements on the Coinbase exchange and generated $1.1 million USD in illicit trading profits. The insider trading charges alone might barely make… ...閱讀更多
The long-awaited and highly-anticipated crypto bill Responsible Financial Innovation Act championed by Senator Cynthia Lummis (R-WY) was introduced as a bipartisan proposal co-sponsored by Senator Kirsten Gillibrand (D-NY). The ambitious and comprehensive bill contains several key pillars including regulatory oversight, clarification of definitions and taxation, and banking and payment stablecoins. ...閱讀更多
Taipei, Taiwan, May 24 2022 — Blockchain neo fintech company XREX Inc. announced today that it has registered and acquired approval to be a crypto asset service provider in Lithuania and will now be able to provide cryptocurrency services in Lithuania, adding another piece to its compliance puzzle after it acquired a… ...閱讀更多
Last week saw the de-pegging of yet another stablecoin. Terraform Labs’ stablecoin TerraUSD (UST) depegged from the USD and hit $0.29 at one point. A further decline in the days following the initial depeg saw UST trading as low as $0.03 at one point. With a market cap of approximately… ...閱讀更多
Before FinCEN, XREX acquired an MSB license from Canada and is currently applying for licenses from the Monetary Authority of Singapore. Taipei, Taiwan, May 13 2022 — Blockchain neo fintech company XREX Inc. obtained a Money Services Business (MSB) license from the United States Financial Crimes Enforcement Network (FinCEN), which is a… ...閱讀更多
The past year has seen a flurry of cryptocurrency regulation-related activity, particularly from banking regulators. On March 9, U.S. President Joe Biden signed the executive order (EO) on “Ensuring Responsible Development of Digital Assets” amid explosive growth in blockchain technologies and cryptocurrency adoption. Just three weeks ago, U.S. Treasury Secretary… ...閱讀更多
On February 21, Tether issued its latest quarterly assurance opinion. The USDT issuer announced that its reserves now exceeded its liabilities. This should have eased concerns over Tether’s ability as the single arbiter of the world’s largest stablecoin in market cap. Instead, it was met with mixed reviews, with some… ...閱讀更多
2021 Virtual Assets-Related Financial News Crypto marched into the physical world in February 2021 when Tesla filed with the SEC regarding its purchase of bitcoin worth $1.5 billion USD and accepted Bitcoin as a method of payment in March (then stopped the Bitcoin payment in May). As a new member of… ...閱讀更多
