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Category: FinTelegram

June 24, 2023

Interesting Decision: U.S. Supreme Court Rules In Favor Of Coinbase In Arbitration Dispute!

In a 5-4 decision, the U.S. Supreme Court granted crypto exchange Coinbase's request to pause customer lawsuits while it pursues appeals to transfer the disputes from court to private arbitration. The ruling overturned a lower court's decision, which had allowed a proposed class action lawsuit to proceed while Coinbase appealed, arguing that the claims should be resolved through arbitration.

FinTelegram

June 20, 2023

Crypto.com Admits Potential Conflict Of Interest In Its Trading Approach!

According to a Financial Times report on Monday, the Singapore-based crypto exchange, Crypto.com, operates proprietary trading and market-making teams. They are trading tokens for profit, creating a conflict of interest. Five unnamed individuals provided the information with direct knowledge of the company's trading desk. However, Crypto.com told Decrypt that it would not rely on proprietary trading as a significant source of revenue.

June 18, 2023

Urgent Warning Against Indian Investment & Trading Scheme ClickFXM

Hundreds of financial scams are active on the Internet at any given time. The methods of operators are becoming more and more sophisticated. Via fake news and the unauthorized use of celebrities, they chase victims. ChatBots help them write effective advertising and website texts. One of these investment scams is ClickFXM which the UK financial watchdog FCA warned against this week. Stay far away and protect your financial health.

June 15, 2023

Whistleblower Power: Learn More About The Dark Side Of Social Media!

Whistleblowers have much power and are a corrective factor in business and politics. Most jurisdictions have implemented whistleblowers to motivate and protect them. One of the well-known whistleblowers is Frances Haugen. In 2021, a former Facebook data scientist exposed the dark side of social media algorithms and underscored the urgent need for transparency and accountability within the industry. In her book "The Power Of One," she explains herself.

FinTelegram

June 12, 2023

Italian Watchdog Orders The Black-Out Of Four Illegal Financial Websites!

On 12 June 2023, the Italian regulator Consob announced that it ordered four illegal financial websites to be blacked out. The total number of black-out orders increase to 907. The Italian financial watchdog has the authority to order ISPs to inhibit access from Italy to illegal financial websites. So far, the Italian regulator is, unfortunately, the only one in Europe with this authority. Below are the websites Consob has ordered to be blacked out:

FinTelegram

June 6, 2023

Binance Fires Accusations Against U.S. Regulator SEC In Response To The Charges!

In a blog post, Binance expressed its disappointment about the SEC complaint, which includes a request for emergency relief. Binance said it has actively cooperated with the SEC's investigations and aimed to reach a negotiated settlement and resolve its investigations. The SEC would have chosen to regulate the digital asset space through enforcement and litigation rather than establishing a regulatory framework for the crypto industry.

FinTelegram

May 30, 2023

Crypto Payment Processor Mercuryo Announced Partnership With Solana!

Today, Mercuryo, a crypto payment processor owned by Russian entrepreneurs, announced a collaboration with Solana, a prominent blockchain project. Solana, founded in 2017 by Anatoly Yakovenko, has gained significant traction in the crypto industry and aims to onboard its first billion users. Mercuryo's cooperation with Solana aims to provide various payment solutions for user onboarding within the Solana ecosystem.

May 21, 2023

Australia Plans Tougher Regulatory Obligations For The Buy-Now-Pay-Later Sector.

The Australian Financial Services Minister Stephen Jones told The Australian Financial Review that the government would introduce lending obligations for the Buy-Now-Pay-Later (BNPL) sector. BNPL providers will need to assess whether their products are suitable for customers. Additionally, they will be required to hold an Australian credit license. The government will further consult providers and consumer groups to finalize the legislative drafting.

FinTelegram

May 14, 2023

Attention: Another Warning Against The EZ2GO Broker Scam Scheme!

In May 2021, German BaFin issued a Cease and Desist Order against EZ2GO Ltd, registered in the Commonwealth of Dominica (report here). It operated the broker scam CapitalFX. On 26 Sept 2022, BaFin announced investigations against the broker scams Europemarket.io and Economix.io. In Oct 2022, the Spanish CNMV also issued a warning. Last week, the Italian Consob warned against the scam. However, the broker is still active. Stay far away!

FinTelegram

May 14, 2023

Italian Consob Orders Black-Out Of Four Illegal Financial Websites!

On 12 May 2023, the Italian regulator Consob announced that it ordered four illegal financial websites to be blacked out. The total number of black-out orders increase to 890. The Italian financial watchdog has the authority to order ISPs to inhibit access from Italy to illegal financial websites. So far, the Italian regulator is, unfortunately, the only one in Europe with this authority. Below are the websites Consob has ordered to be blacked out:

FinTelegram

May 11, 2023

Attention: Austrian FMA Warns Against (Almost) Vanished Scam Broker Exteom!

FinTelegram issued a warning against the Exteom broker scam in January 2023. This scam, allegedly operated by the offshore entity Wirrerium LLC was promoted via fraudulent crypto campaigns like Bitcoin Millionaire Pro or Bitcoin Bank promoted this scam. Exteom was implemented as a PandaTS white-label solution. The Austrian FMA followed FinTelegram and issued a warning against the broker scam. The website is currently no longer accessible. Stay Far Away;

May 10, 2023

101 Crypto Ecosphere: Crypto Exchanges And Their Payment Processors!

To map the worldwide crypto scene is an impossible task. One encounters a practically opaque network of crypto exchanges such as Binance, ByBit, KuCoin, BitGet, etc., and connected payment processors such as Advcash or Mercuryo. For example, the FIAT transactions of the crypto exchanges are processed via the latter. Of course, this is a very simplified representation. But you have to start somewhere. The "101 Crypto Ecosphere" chart shown above is such a start.