Crypto Compliance | FinTelegram News

Category: Crypto Compliance

Crypto Compliance

November 7, 2024

Crypto’s New Dawn: Trump’s Victory Signals SEC Shakeup and Regulatory Reset!

Following Donald Trump's election victory, there are strong indications that Gary Gensler's tenure as SEC Chair may be coming to an end, with expectations of significant changes to the SEC's approach to crypto regulation. During his campaign, Trump explicitly promised to fire Gensler "on day one" after taking office. While this immediate firing will not take place due to legal restrictions, Gensler's removal seems to be certain.

October 31, 2024

U.S. Crypto Exchange Kraken Restructures with 15% Layoff and New Co-CEO Amid Crypto Industry Shifts

Evidently, the crypto industry moves into another transformative bull run. Kraken, one of the global crypto giant, just announced a 15% workforce cut, reshaping its leadership and structure. The move includes the exit of key executives and the appointment of Arjun Sethi as co-CEO, as Kraken aims to streamline and stay competitive in the turbulent crypto landscape.

October 28, 2024

Tether Under Federal Scrutiny: Investigations Spark Controversy Amid Strong Denials and Market Turmoil

Recent allegations against Tether, the company behind the USDT stablecoin, have sent ripples through the cryptocurrency market. According to a Wall Street Journal (WSJ) report, U.S. federal prosecutors are investigating Tether for potential anti-money laundering laws and sanctions violations. The probe is allegedly investigating whether third parties have utilized Tether’s stablecoin to finance illegal activities or to launder the money from such activities.

Crypto Compliance

October 21, 2024

The Future of Money is Crypto: Meet the World Project Co-Powered by ChatGPT Mastermind Sam Altman!

The future of the financial system lies in crypto, even if the regulators don't like to hear it. Worldcoin, soon to be rebranded as World, is one of the hottest but also more controversial cryptocurrency and digital identity projects. It was co-founded by Sam Altman, the CEO of OpenAI. The project aims to create a global financial and identity network based on "proof of personhood."

October 12, 2024

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.

October 3, 2024

Circle Joins U.S.-Led Initiative to Combat Illicit Finance in Virtual Assets!

Erik Rosenblatt, a senior leader at US stablecoin issuer Circle, will represent the company on the Illicit Virtual Asset Network (IVAN) board. Prior to joining Circle, Rosenblatt spent over two decades as a special agent with the U.S. Department of Homeland Security and the U.S. Department of the Treasury. As part of IVAN, Circle will have a voting role in determining the network's priorities and membership.

October 1, 2024

UK’s First Crypto ATM Conviction: Nigerian Operator Pleads Guilty in £2.6 Million Unregistered Scheme!

In the UK, Olumide Osunkoya pleaded guilty to 5 offenses, becoming the first UK conviction for offenses relating to the operation of crypto ATMs. He is due to be sentenced for running multiple crypto ATMs without FCA registration, creating and using false documents, and possessing criminal property. Osunkoya illegally operated a network of at least 11 crypto ATMs, which processed more than £2.6m in crypto transactions.

September 30, 2024

Crypto Compliance: DeFi Scheme Mango Markets to Destroy All MNGO Tokens Following SEC Settlement!

The U.S. SEC has charged the Solana-based decentralized finance (DeFi) platform Mango Markets with securities violations. As part of the settlement, the scheme will collectively pay nearly $700,000 in penalties. The scheme operators have also agreed to destroy all MNGO tokens, remove MNGO from trading platforms, and cease any attempts to promote or offer MNGO for trading.

September 28, 2024

SEC Charges Crypto Asset Trading Platform Mango Markets for Unregistered Offers and Sales of the Platform’s “MNGO” Governance Tokens!

Labeling an entity as a ‘DAO’ doesn’t exempt it from U.S. securities laws. The SEC’s crackdown on Mango DAO and Blockworks Foundation highlights that all intermediaries of securities—whether automated or decentralized—must comply with registration requirements. The crypto industry must heed this warning, as the enforcement heat continues to rise.

September 25, 2024

U.S. Crypto Exchange Kraken Strengthens European Position with Dutch Acquisition Ahead of MiCA!

Kraken, one of the world's leading cryptocurrency exchanges based in the U.S., has recently completed its acquisition of Coin Meester B.V., a prominent Dutch cryptocurrency broker d/b/a BCM. This strategic move marks another milestone in Kraken's European expansion strategy and strengthens its position in the evolving cryptocurrency market landscape under the MiCA regime.

September 25, 2024

SEC Charges Stablecoin Issuers TrustToken and TrueCoin With Investor Fraud Over Stablecoin TUSD

The U.S. Securities and Exchange Commission (SEC) has charged TrustToken and TrueCoin with defrauding investors over their stablecoin, TUSD, which they falsely claimed was fully backed by U.S. dollars. The companies secretly invested over half a billion dollars in risky offshore funds, exposing investors to hidden risks. This case highlights the urgent need for regulatory scrutiny in crypto-asset markets.

September 24, 2024

Coinbase and its Fight Against the SEC Continues with A Small Win!

The U.S. SEC filed a lawsuit against Coinbase, one of the largest crypto exchanges in the U.S., in June 2023. The core issue of this lawsuit revolves around whether certain crypto assets traded on Coinbase's platform should be classified as securities. On Monday, members of a Third Circuit panel pressed the regulator on its brief denial of crypto exchange Coinbase's request for rulemaking around digital assets.

The Unraveling of Rabidi and the Rise of the SoftSwiss Network: Our Updated Forensic Report

A few months ago, FinTelegram released a first forensic report on the bankruptcy of Rabidi N.V., a Curacao-registered online casino operator with hundreds of millions in revenues — and no traceable assets by the time of its collapse in May 2024. That report already raised serious questions about the opaque structures behind Rabidi’s operations and its successor, Liernin Enterprises Ltd.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.

CFTC

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.