Broker | FinTelegram News

Category: Broker

April 14, 2024

Crypto Crash: The Arriving Bitcoin Halving And A Highly Nervous Market!

On the night of April 13/14, crypto prices underwent a sharp correction, continuing the trend of the previous days. There is nervousness surrounding the Bitcoin halving. The estimated time of Bitcoin’s fourth halving is expected to happen around April 20, with the block subsidy dropping from 6.25 BTC to 3.125 BTC. However, the recent crypto crash appears to have been influenced by a combination of factors, reflecting the complex interplay of market dynamics and external economic indicators.

April 13, 2024

Coinbase Challenges SEC’s Overreach in Crypto Regulation with Strategic Appeal to Higher Court

Amidst the ongoing crypto bull run, Coinbase, one of the United States' leading crypto exchanges, is escalating its battle against the U.S. Securities and Exchange Commission (SEC) by appealing to the U.S. Court of Appeals for the Second Circuit. This move highlights the ongoing contention over the SEC's approach to regulating digital asset transactions, particularly its application of the Howey test to cryptocurrency trades on the secondary market.

April 12, 2024

Bitpanda Financial Services GmbH Secures Enhanced License Under Austria’s New Securities Trading Act”

Bitpanda Financial Services GmbH, a subsidiary of the Austria-based crypto exchange operator Bitpanda, has been granted an extended license by the Financial Market Authority (FMA) under the updated Austrian Securities Trading Act (WpFG). This extension positions Bitpanda among the pioneering investment firms that can navigate and comply with the stringent requirements introduced by the new legislative framework.

April 11, 2024

Uniswap Braces for SEC Legal Challenge: A DeFi Sector Standoff

Uniswap, a cornerstone of decentralized finance (DeFi), has been served a Wells notice by the U.S. Securities and Exchange Commission (SEC), signaling impending enforcement actions. This marks a significant moment in the ongoing regulatory scrutiny faced by the DeFi industry. Uniswap CEO Hayden Adams has voiced his determination to contest the SEC's position, saying "I think freedom is worth fighting for. I think DeFi is worth fighting for."

April 8, 2024

Attention: Spanish Financial Watchdog CNMV Issued Warning Against PO Trade!

FinTelegram has already issued several warnings against the offshore broker PO Trade, which is included on our Red Compliance List. PO Trade and PocketOption are the trading names of this offshore broker scheme which has legal entities in various offshore jurisdictions such as Marshall Islands or St. Lucia. We recently published a report on fake reviews of PocketOption on Trustpilot. The Spanish CNMV issued a warning against PO Trade on April 8, 2024.

March 29, 2024

Financial Intelligence Report: Overview of Regulatory Developments in MSBs and Crypto Assets

This report provides a comprehensive analysis of the regulatory landscape concerning Money Services Businesses (MSBs) and Crypto Asset Service Providers (CASP) across various jurisdictions, including Canada, the European Union (EU), and the United Kingdom (UK). It highlights the key regulatory frameworks, the role of supervisory bodies, and the implications for businesses operating in the traditional and digital financial sectors. The report also examines the forthcoming Markets in Crypto-Assets (MiCA) regulation in the EU and its potential impact on the crypto market within member states.

March 28, 2024

Crypto Regulation: SEC’s Legal Challenge Against Coinbase Proceeds, Federal Judge Decides

In a (sort of) pivotal development for the crypto industry, a federal judge in Manhattan has ruled that the lawsuit brought by the U.S. SEC against U.S. crypto exchange Coinbase will proceed, albeit with one of the SEC's claims being dismissed. The decision underscores the legal complexities surrounding the regulation of digital assets and marks a significant moment in the SEC's ongoing efforts to enforce securities laws within the crypto sector.

March 15, 2024

UK High Court Says That Australian Computer Scientist Craig Wright is Not Satoshi Nakamoto!

No surprise here. In another courtroom drama in the crypto space, the UK High Court has unequivocally declared that Australian computer scientist Craig Wright is not, in fact, the mysterious Satoshi Nakamoto, the mysterious mastermind behind Bitcoin. This conclusion came swiftly at the end of a five-week spectacle. Justice Mellor wasted no time delivering his verdict, citing the "overwhelming" evidence against Wright's claim.

March 14, 2024

Coinbase Announced $1.1 Billion Convertible Senior Notes!

Coinbase Global, the leading crypto exchange in the U.S., has recently unveiled a substantial bond offering, introducing US$1.1 billion in unsecured convertible senior notes set to mature in 2030. This initiative targets qualified institutional buyers. The offered notes are designed to accrue interest, payable semi-annually, and offer investors an option to convert their holdings into Coinbase shares or cash, depending on their preference.

March 11, 2024

Regulatory Warning Against Red-Listed Offshore Broker Zeal Group and ZFX!

On March 11, 2024, the Spanish regulator CNMV issued a warning against the Chinese-controlled offshore broker ZFX, part of the Zeal Group. The broker is operated via regulated legal entities in the UK and the Seychelles. In our initial review, we were able to register with this offshore broker as an EU resident without any problems. We could theoretically have made unlimited pre-KYC deposits via bank transfer and crypto. This resulted in a Red Compliance Rating.

March 11, 2024

Hong Kong-Controlled Broker Ultima Markets Receives Green Compliance Rating!

The CFD broker Ultima Markets, which is controlled via Hong Kong, operates with licenses from CySEC in Cyprus and the FSC in Mauritius. The broker is still relatively young and only received its CySEC license in Cyprus in 2023. On Trustpilot, Ultima Markets has only 13 reviews with a 4.0-star rating and a corresponding "Great" trust level. In our initial review, we did not find any major compliance violations. We have therefore added Ultima Markets to our Green Compliance List.

March 10, 2024

MicroStrategy’s Bitcoin Bet: Michael Saylor’s Bold Strategy Amidst Crypto Turbulence!

As the founder of MicroStrategy, Michael Saylor stands out not just as an executive but as one of the most fervent Bitcoin advocates on the global stage. His unwavering belief in Bitcoin has shaped MicroStrategy's strategic direction, marking it as a unique case study in corporate crypto investment. Despite navigating through the tumultuous crypto winter of 2022, which saw the collapse of major crypto players, Saylor's Bitcoin-centric strategy appears to be regaining its footing.

How U.S. Law Enforcement Infiltrated The International Crypto Scene!

In an unprecedented move, the FBI infiltrated the crypto world with its own token, NexFundAI, to crack down on market manipulation. This case marks a significant shift in crypto enforcement, signaling that law enforcement is evolving its tactics to keep pace with the complexities of the digital asset space. As more fraudsters are exposed, the crackdown on wash trades and pump-and-dump schemes is just beginning.

Breaking: German Co-Founder of Crypto Fraud Scheme USI Tech On The Run!

USI Tech was one of the first MLM schemes to use cryptocurrencies to defraud its investors. FinTelegram has issued several warnings aginst the scheme. Horst Jicha has now gone fugitive, leaving behind a trail of defrauded investors and evading justice in the $150 million USI Tech fraud case. With Jicha on the run, the case serves as a chilling reminder of the risks in the volatile crypto world.

Binance Chief Financial Crime Compliance Officer Denied Bail in Nigerian Case!

Think twice before starting to work for the world's larger crypto exchange. As Binance’s financial crime compliance officer faces money laundering charges in Nigeria, questions mount over the company’s compliance safeguards and the risks involved in its global operations. The denial of bail for Tigran Gambaryan and the ongoing legal battle could have far-reaching implications for the company’s future.

Fintech

Solaris Bleeds Cash and Jobs: Can This High-Risk Fintech Survive, Let Alone IPO?

Solaris, a German fintech and neobank, has a long history of compliance troubles. Moreover, its ongoing financial losses and regulatory woes doubt its long-term profitability, even as it sheds jobs and restructures for survival. A potential IPO, as rumored by the German platform Gründerszene, seems speculative at best in light of its deep-rooted issues with compliance and financial stability.

Breaking: The Binance-Like $3.1 Billion Money Laundering Settlement of TD Bank!

TD Bank, one of North America's largest financial institutions, has been hit with a historic $3.1 billion settlement over money laundering violations. This case represents one of the most significant AML enforcement actions in U.S. history, both in terms of the financial penalties imposed and the severity of the admitted misconduct. Only Binance, with its $4.1 billion settlement, was even larger.